00:00 Introduction
02:36 Where is Armenia?
03:19 What is Armenia famous for?
05:31 How can entrepreneurs benefit from Armenia’s laws?
08:22 Is Armenia a good option for freelancers to register?
10:24 Can I open a bank account remotely in Armenia?
12:12 What is the process to register a company in Armenia?
13:20 What business structures are there in Armenia?
14:10 What is the best business structure for an online business in Armenia?
16:03 What are the payment gateway options in Armenia?
17:29 Are Wise and Revolut available for Armenian businesses?
19:12 Can I make a payment abroad from an Armenian bank account?
20:13 How long do you have to be in Armenia to set up your business?
21:44 Can I open multi-currency bank accounts in Armenia?
25:20 Can I get a residency visa on behalf of registering a business in Armenia?
Patrick and Danish discuss Armenia, a hidden gem for entrepreneurs. Armenia is the #1 country for startups in the Region and is already generating unicorns e.g. PicsArt.
If you want to reach out to Patrick, you can do so here: bit.ly/3Rf3SLw.
What are the main benefits of starting up in Armenia?
* You can register your digital company in only 9-10 minutes, and you can start operating on the same day.
* If you make under 241,000 USD, you pay a 5% flat tax fee.
* If you work in IT, you can apply for an “IT certificate” and pay 0% tax. Plus, if you have Armenian tech works you pay less payroll tax from 21% to 10%.
* In Armenia, you can do banking in many currencies including EUR, USD, local currency, and more.
* You can open a bank account remotely. Though consider that lately it takes around 3 weeks.
Company registration is a very streamlined process. With an LLC, if you do not have articles of incorporation, the authority can provide you with a template.
Important note: You cannot register for PayPal or Stripe in Armenia. You would have to do it in your home country.
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