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Armenia

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Editorial

Legal market overview

The smallest of the former Soviet republics, numerous factors have resulted in a stalled business environment in landlocked Armenia. The 2018 ‚ÄėVelvet Revolution‚Äô which resulted in Nikol Pashinyan‚Äôs ascendency to leadership brought optimism for a new era of democracy and anti-corruption measures. The subsequent political instability, however, has kept markets cautious until the proposed December elections. Sanctions against major trading partner Russia and neighbour Iran have also caused consternation, though US and EU interest in the country remains positive for the moment.

Agriculture and mining are important export markets for the country, and tax reliefs in the IT sector have contributed to a 37% industry growth. Interest in the renewable energy sector is also seeing an uptick, with the government approving the construction of the Masrik-1 solar power plant; the country’s first competitively tendered independent power project.

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Legal Developments in Armenia

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  • Armenia intends to extend tax exemptions for IT industry

    IT industry in Armenia has seen a dramatic growth for the last few years. The industry size in 2017 has reached 765,1 million USD versus 559,1 million USD in 2015 which represents around 37% growth like for like (National Statistical Service of Armenia 2015, 2016, 2017).
  • Mergers and Acquisitions: Exceptions of exercise of pre-emptive rights in Armenia

    Mergers and acqusitions in the banking industry has been buoyant for the past couple of years in Armenia. This activity has been fuelled by the regulatory requirements for increase of the charter capital of the banks due to the desire of the regulator, the Central Bank of Armenia, to see larger and predictable players in the market easy to supervise. This has been coupled with the increasing interests of international players and investors towards the robust banking sector or Armenia which has offered stable exchange rates and much higher interest on debt and equity compared to that of developed markets such as Western Europe, North America and Middle East.
  • Some practical issues regarding the transaction of right to inviolability of personal life and perso

    The right to inviolability of personal life is one of the most essential components in the system of values of modern society which is established in constitutions or laws of relevant connotation of various countries. Acknowledgement of the right to inviolability of personal life as a constitutional right is currently highly necessary and is possible within scopes of certain level of development of engineering and information technologies. A person’s personal life is directly related to his/her personal data, the inviolability and security of which is what creates actual conditions for making the inviolability of his/her personal life real.
  • TRANSACTION TYPES AND APPROVAL PROCEDURE

    This article provides general overview about transaction types and their approval procedure. As a result, the Company has to determine the transaction types and applicable statutory requirements in regard to its conclusion.
  • ‚ÄúClean and tidy‚ÄĚ lease clause requires tenant to remediate subsoil contamination

    Belinda Green , Senior Associate | Monday 31 August 2015

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