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Doing Business in Armenia

Overview

The Armenian economy is gradually recovering from the global financial crisis, although close ties to the European and Russian economies mean it remains sensitive to outside economic problems.  With international donor assistance, the Armenian government has been implementing a program of reforms aimed at restructuring the banking and financial services sector, liberalizing trade, attracting foreign investment through improved tax and customs regimes, establishing a Western accounting system, and implementing a private property regime.

Armenian companies are usually willing to become agents or distributors for American products.  In recent years, local companies have agreed to become distributors for the following firms: Procter & Gamble, Mars, Johnson & Johnson, Kodak, Philip Morris, FedEx, UPS, Dell Computers, Intel, IBM, Reebok, Nike, and others.

Armenia has a liberal regime of foreign exchange regulation.  Armenian residents and foreign nationals can hold foreign currency accounts, and import, export and exchange foreign currency relatively freely.

Foreigners may choose from a wide range of available organizational forms to conduct business in Armenia.  For more information or the pamphlet "Entrepreneur's Roadmap: How to Register Your Business", click on the following link Entrepreneur's Roadmap, or contact the Small & Medium Entrepreneurship Development National Center (SME DNC).

SME DNC
5 Mher Mkrtchyan Street,

Yerevan 375010
Tel: 54 16 48
Fax: 54 16 42
Email: info@smednc.am
Website: http://www.smednc.am

For US small and medium-size companies, the Department of Commerce offers a "SME IP Advisory Program" available through the American Bar Association.  For details and to register, visit: http://www.americanbar.org/groups/intellectual_property_law.html 

For background information on the political and economic environment of the country, please click on the link below to the U.S. Department of State Background Notes.

http://www.state.gov/r/pa/ei/bgn/5275.htm

The American Chamber of Commerce in Armenia
http://www.amcham.am/

BusinessUSA.gov

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