Did you know

If you incoporate an IT company today in Armenia, you could qualify for a special tax incentive scheme which offers 0% corporation tax and 10% income tax for employees

0% Corporate Tax

10% Income Tax

Consider Relocation ...

The Silicon Mountains are waiting. With some of the lowest labour costs and a highly-skilled IT workforce, consider relating some or part of your operation to Armenia.

For the lastest information such as tax changes, regulatory changes, exchange rate changes and so on, contact us directly for a free consultation

About Upstart™

The Republic of Armenia (RA) is a rapidly developing country located in the Caucuses with strong international economic ties to the US, Russia and China, with the latter investing heavily in infrastructure, both physical and communications-based, and transportation development in the past 2 years.

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IT-comapnies in 2017

Armenia is a highly cultural and rooted country in the region with its own quirks and distinctive traits. For example, by percentage, RA has one of the highest diasporas of any country on the planet. However, in the recent years, especially since the Velvet Revolution of 2018, many ex-pats are deciding to relocate back to Armenia to start businesses, get involved import/export, distribution and even politics.

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SKilled IT staff

The Velvet Revolution of 2018 sparked the beginning of real change in Armenia, and was a gigantic step forward in progressive thinking, both politically and economically. RA has one of the highest developer-per-person percentages of any country, and resembles are early Ireland and recent Bulgaria, with developer and IT-driven growth from within. In a few year’s time, RA will undoubtedly be the Silicon Valley of the Caucus region and is the most rapidly and sustainably growing of the ex-Soviet bloc countries.

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Yearly Growth in the IT Sector

This revolution, peaceful in nature, reflected the dire need for change within the country. With the development of IT, manufacturing and financial and banking developments, the system was hindered by the apparent corruption and antiquity that all post-soviet countries face and are still facing. After said revolution, street level corruption was immediately eliminated for every-day living. Mid and high-level corruption was tackled in the courts with revolutionary political and constitutional changes to ensure that the previous government and economic leaders were held accountable in this new environment.

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GDP rate growth last year

 

The future is incredibly bright for RA. Many startups are popping up daily, in every facet and sector. The growth is natural and self-sustained for the most part, with little foreign investment over the past few years. This is rapidly changing, and the balance of the country is flipping, being heavily export-based, both with goods and services.

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Successfull Upstart™ companies since 2018

Comparing RA current and historical data with comparative countries is a vital step for any business startup. It’s the initial and primary factor in determining how easy your business  can be set up, which financial instruments will be used, how connections will be made, tax and profit considerations and so on.

Figures and statistics acquired from the following sources: Export.gov, EIF Armenia, Orbeli Center

Thriving Businesses in Armenia

Development and Programming

This is where our sister company Raevant can assist.

Armenia is the heart of the silicon mountains, an area of extreme and positive ICT change. Truly a revolution has occured over the past 2-3 years, allowing the IT industry to be the dominating factor of growth in Armenia.

Customer Support

With a high density of language universities, more and more Armenians on average know a minimum of 3 languages, English included.

With location services, staff acquisition, hardware and software sourcing all part of our package, we can get you up and running at a minimum of 2 weeks from incorporation.

Financial Market

With modernisation effects from the new Prime Minister (post-Velvet Revolution of 2018), the financial market is beginning to bloom.

Weekly, there are updates from the financial ministry outlining positive and transparent changes to the financial and economical climate to influence change and encourage investors, both domestic and international.

Gaming Sector

With two of the largest gaming platform providers in the iGaming industry, Digitain and BetConstruct, who collectively employ over 4000 highly-skilled employees, there is no shortage of talented developers and vital connections here.

We are connected to the upper echelon of both companies, and can arrange consultations with the top brass of both companies.

Start Ups

Startups are popping up everywhere. We connect to many and are in the process of creating a union for easy access so that investors and startups alike can connect and the flow of capital and services is clear and beneficial for all!

In-fact, we are behind several million-dollar startups in Armenia in 2018-2019. Including RGUK LLC and Intermediary International LLC.

Construction and Property

Not only the IT sector is booming here. Construction is one of the most dominating views of the Yerevan skyline.

With investment from China, UAE and Armenians alike, construction projects are popping up around the country. We can connect you to the right building developers or help you on the path of establishing your own firm here, with preferential tax intensives.

See what the world is saying

Choose the perfect plan

Below is a price listing for our services. Remember that these figures can be higher or lower depending on your requirements. 

$350

Residency

  • Document Translation
  • Incl. $240 Government Fee
  • Social Security Number

$500

Residency + Incorporation

  • Incorporation
  • Share Capital
  • Employment and Service Contracts
  • Company Seal

$500+

Residency + Incorporation + Starup

  • Office Location or Virtual Office
  • Business Bank Account
  • Legal-Setup
  • Staff Acquisition
  • Office Furniture
  • Hardware/Software Solutions
  • More ...

Frequently asked questions

For those wishing to operate in the IT sector, a new tax scheme is available which offers 0% corporate tax and 10% income tax for employees. After submission, a government review and interview is held to determine if you’re company qualifies. We will assist in every step. 

Generally no. Especially in the IT and support sectors, with no monopolistic organisations in this sector everything is transparent however difficult to navigate for those who have not operated here before. With our help, every hurdle is minimised and you can be operating in a very short period.

The Armenian language is an ancient one. Many government sites, forms and contracts are written in Armenian, however we translate and notarise all documents and can assist you with office rental, staff interviews, bank-account opening, tax-services etc.

This all depends on your business model. If you wish to own a company here as a foreign citizen, you will need residency and a social security number. After that, using our connects and reach in Armenia, we can source the most cost effective office arrangements, equipment and generally advice on the cost of living salary expected by your staff in a particular industry.

Upstart™ is owned and operated by UK entrprenears who have a track record of successfull startups here. Armenia is booming and to fully take advantage, potential investors need to know the correct steps to navigate an ever developing company which is shaking off the reigns of its ex-soviet era system.

Contact

135 Verin Antarain, Yerevan, Armenia
+44 7564 539 354
+374 77 48 78 58
Mon-Sun : 24 / 7 / 365