Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson36 The goal of this lesson is to provide a brief overview of the environment for doing business in Armenia. The three main points of this lesson are to understand what types of businesses can legally registered in Armenia, how interested individuals can register their businesses, and what organizations or websites you can go to for further information. The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.

1. Resources for Armenian
Business Owners
Objective: The three main goals of this lesson are to understand what types
of businesses can legally registered in Armenia, how interested individuals
can register their businesses, and what organizations or websites you can go
to for further information.
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2. Introduction: Business in Armenia
• Business Structures
• Registration Process
• Legislative Changes
• Further Information
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3. Business Structures
Most common business structures in Armenia:
– Sole Proprietorships
– Joint Stock Companies
– Limited Liability Companies
– Business Partnerships
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4. Structure: Sole Proprietorships
• Very simple
• Governed by same laws as other businesses
• Unlimited liability of owner for obligations of
the business
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5. Structure: Joint Stock Companies
• Similar to an American or European corporation
• Can issue and sell shares
• Two types of structure:
– Open
– Closed
• Shareholders held liable for “value” of stock
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6. Structure: Limited Liability Companies
• Founders are referred to as “Members”
• Profits divided amongst members
• Members liable for amount of initial investment
• Most common structure in Armenia
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7. Structure: Business Partnership
• Association of two or more individuals or
organizations
• Two types:
– General Business Partnership
– Limited Business Partnership
• General Partner vs. Limited Partner
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8. Recent Legal Changes
https://www.e-register.am
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9. How to Register
• One-time fee of 17,000 AMD
• Apply in-person or electronically
• Approved or Rejected within 5 business days
• Upon approval, receipt of:
– Business Name
– Business Registration
– Tax Identification Number
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10. Other Considerations
• Do you want a business seal?
• Social Security Fund registration
• Do you need a license?
– www.e-gov.am
• Do you need to register with the Customs
Authority?
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11. Further Information
• Small and Medium Entrepreneurship Development
National Center
– http://www.smednc.am/
• Armenian Development Agency
– http://www.ada.am/arm/
• Chamber of Commerce and Industry
– http://www.armcci.am/am/home
• Enterprise Incubator Foundation
– http://www.eif.am/
• U.S. Embassy in Armenia
– http://armenia.usembassy.gov/business.html
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