Concern Dialog law firm > Yerevan, Armenia > Firm Profile

Concern Dialog law firm

Armenia > Leading firms Tier 1

Specialising in cross-border litigation, Concern Dialog law firm fields a strong bench of litigators and arbitrators, catering to a wide range of industries including the energy, mining, telecoms, tech, finance and non-profit sectors. The firm is active in tax, defamation, unfair competition, commercial litigation, criminal law and employment disputes, and is well versed in acting for the Armenian government and semi state bodies on issues of constitutional law. Former deputy Minister of Justice Aram Orbelyan leads the firm’s arbitration and litigation practice, and currently chairs the Arbitrators’ Association of the Republic of Armenia. Narine Beglaryan heads up the corporate, banking and finance practice, specialising in M&A, share purchase transactions, contracts, corporate structuring, and date protection, as well as assisting with several high-profile litigations. Artur Hovhannisyan leads on tax and general administrative law, while Lilit Karapetyan focuses on energy and mining law with an emphasis on environmental issues. Hovhannes Khudoyan, Mariam Santrosyan and Martik Martirosyan are noted at the associate level.

Practice head(s):

Aram Orbelyan; Narine Beglaryan; Artur Hovhannisya


‘The team is dynamic, multi-cultural and multi-specialised.’

‘The practice is unique due to the wide range of expertise covering nearly all aspects of corporate management.’

Key clients

HSBC Bank Armenia CJSC




Veolia Jur CJSC



Gebrueder Weiss / Armenian Rep office of the Gebrueder Weiss LLC

Majorel Armenia LLC

Evolution Studio AM LLC /Evolution Malta

Work highlights

  • Representing Zangezur Mining LLC in a large-scale dispute before domestic Armenian courts.
  • Advising Arman Unanyan on the takeover of a large telecommunication company.

Concern Dialog is a top-tier, full-service law firm headquartered in Yerevan, Armenia. We have established ourselves as a reliable partner for businesses and individuals seeking legal counsel and representation since 1998.

The best of both worlds: A full-service law firm with specialized expertise: Our team is well-respected for our work in the areas of corporate law, labour law, competition law, tax law, contract law, family law (including child abduction cases) and regulatory issues. Specifically, we have extensive experience in regulatory matters in technology, media, and telecommunications (TMT), mining, energy, utilities, banking and finance, medical services, real estate, and not-for-profit sectors.

In addition to our outstanding consulting and transaction practice, our litigation practice is regarded as one of the leading ones in Armenia for landmark litigation and arbitration cases.

And finally, our criminal defence team is entrusted with defending clients in numerous high-level, complex criminal cases, engaging criminal, constitutional and international human rights issues, including several politically motivated proceedings and complex white-collar crime charges.
The team stands out as one of the very few in the country capable of effectively assisting clients in English, Russian, French, and to a limited extent, German languages.

A big law firm with boutique-level service: We take a client-centric approach to our work, tailoring our services to meet each client’s unique needs. At Concern Dialog, we are committed to delivering high-quality legal services that help our clients achieve their goals. We recognise the intricate nature and emotional strain associated with legal issues, so we strive to provide clear and practical advice to our clients, which empowers them to make well-informed decisions.

Globally connected: Our membership to TagLaw and Nextlaw networks and cooperation with individual law firms from specific jurisdictions allow us to provide services to our Armenian clients practically worldwide. We frequently leverage these opportunities to enhance our client service – we have successful projects in the UK, Spain, Estonia, Cyprus, France, Denmark, Georgia, several states of the US and other jurisdictions.

Top-tier law firm and leading team: Reputable international ranking providers regularly recognise our work: Concern Dialog and our team members are identified as “top tier” by Chambers and Partners, The Legal 500, IFLR1000, International, Who is Who Legal. Top Ranked Legal has recognised Concern Dialog as the law firm of the year 2022 for Armenia.

In addition, we regularly contribute to well-known and respected comparative guides and separate publications on Armenian law and practice, including Comparative Legal Guides by Chambers and Partners, Getting The Deal Through and Market Intelligence by Lexology, Country Comparative Guides by The Legal 500, Practical Law guides by Thomson Reuters, publications by Wolters Kluwer and others.

Result-oriented with integrity: Concern Dialog actively engages in pro bono and low bono work as part of its commitment to Environmental, Social, and Governance (ESG) principles. By providing pro bono and low bono services, we offer free or reduced-cost legal assistance to individuals and organisations in circumstances where their rights are at stake or where there is a significant social or systemic impact.

Concern Dialog is dedicated to actively contributing to the social well-being and development of the community by utilising our legal expertise and resources in ways that have a positive impact beyond our client base.
Additionally, our law firm takes the initiative to organise seminars and workshops for communities, including for journalists and students. These events aim to enhance their knowledge and understanding of socially important legal topics.

If you have thought of a legal issue – just message ( or call (+37460278888)

Department Name Email Telephone
Concern Dialog law firm +37460278888
Aram Orbelyan +37493662726
Photo Name Position Profile
Ashot   Poghosyan photo Ashot Poghosyan Senior Associate, Attorney
Arianna Adamyan photo Arianna Adamyan Associate
Arman Asryan photo Arman Asryan Junior Associate
Narine Beglaryan photo Ms Narine Beglaryan Senior Partner, Attorney
Lusine  Hakobjanyan photo Lusine Hakobjanyan Junior Associate
Ani Hambartsumyan photo Ani Hambartsumyan Senior Associate, Attorney
Artur Hovhannisyan photo Mr Artur Hovhannisyan Partner, Attorney
Lilit Karapetyan photo Ms Lilit Karapetyan Partner, Attorney
Tirayr  Karapetyan photo Tirayr Karapetyan Senior Associate, Attorney
Sofya  Kharatyan photo Sofya Kharatyan Senior Associate, Attorney
Karen  Margaryan photo Karen Margaryan Associate, attorney
Ella  Mkrtchyan photo Ella Mkrtchyan Senior Associate, Attorney
Svetlana  Mkrtchyan photo Svetlana Mkrtchyan Junior Associate
Ani Mkrtumyan photo Ani Mkrtumyan Junior Associate
Aram Orbelyan photo Dr Aram Orbelyan Managing Partner, Attorney
Shushanik Stepanyan photo Shushanik Stepanyan Senior Associate, Attorney
Partners : 4
Attorneys : 17
Associates : 37
TagLaw - worldwide alliance of independent law firms
AmCham - American Chamber of Commerce in Armenia
DWV - German Business Association in Armenia
Nextlaw Global Referral Network
The International Chamber of Commerce
The Armenian British Business Chamber (ABBC)

CLIENT: Roman Inozemtsev
TESTIMONIAL: Herewith, I would like to express my sincere gratitude to the team of Concern Dialog lawyers and specifically to Aram Orbelyan and Janna Simonyan for their continuous professional support of our business operations in Armenia. Concern Dialog comprises a team of outstanding and creative lawyers who strive to provide practical legal solutions at the highest ethical standards. Ericsson has engaged Concern Dialog for numerous complex matters incl. Tax, Employment, Litigation, Personal Data protection, Compliance, etc. and was always happy about outcome of those. I highly recommend Concern Dialog law firm.

CLIENT: Irakli Sokolovski
COMPANY/FIRM: Evolution Gaming AB
TESTIMONIAL: Concern Dialog Law Firm (the “Firm”) is a long-standing legal counsel Evolution Gaming AB (publ). The Firm is advising the company on various issues related to the entry to and operations in the Armenian jurisdictions. The Firm’s services cover wide range of the issues from regulatory to contractual matters. Noteworthy is the assistance in the real estate issues. In this respect, the Firm has assisted with structuring and negotiating the major real estate transaction, as well as carried out a review of the complex litigation matters related to the certain real property. The Firm lawyers are efficient, knowledgeable, and always available to help. Narine Beglaryan is the leading lawyer and is highly regarded for her work.

We hereby strongly recommend the Concern Dialog Law Firm.

CLIENT: Yervand  Hovhannisyan
TESTIMONIAL: We are pleased to inform you that Concern-Dialog CJSC is providing legal services to AB SADE JSC (Armenian Branch of SADE CGTH S.A.) for over two year period. Our company is operating in civil construction field, specialized in networks and utilities and most of the projects are regulated by FIDIC contracts with government agencies as Employers, funded by international organizations and mainly supervised by international engineering companies. Some of those projects resulted in disputes with Employers and other involved stockholders. We applied to Concern dialog first time in early 2019 when our HQ announced about closing of our branch. We had an internal audit for all unresolved issues and disputes and ordered CD to learn different cases of bad receivables from our partners and consortium members towards AB SADE. Currently we are in active stage of those cases with positive results and working on some other cases at the same time. Recently we applied again to CD with a new inquire for examining another government related project consequences, in particular delays with the closing of the contract and issuing of the performance certificated for completed works. During this two year cooperation we had also major and minor cases where different specialists from CD team were involved. We are always appreciating our partner’s high professionalism and attitude and feeling legally backed in our business activities. I want to underline our cooperation with Mrs. Narine Beglaryan for her invaluable and professional input as a focal point and main acting partner to our company.

CLIENT: Avag Simonyan
COMPANY/FIRM: Gitnakani tun
TESTIMONIAL: “Gitnakani tun” LLC implements a project related to renovation and further development of a historic building in the city center of Yerevan, historically known as the House of Scientists (the project is currently pending due to COVID). Concern Dialog law firm was engaged at the initial stage of the project back in 2019 and provided excellent support in relation to structuring of the transaction, drafting and concluding underlying project documents and kick starting the project. This includes the establishment of the SPV for the purpose, drafting corporate documents securing the initial and follow-up shareholder funding, drafting project development and work contracts to be signed with the contractors, negotiating them and have them signed and implemented. The team has also provided us with support on our day-to-day activities of the firm and the management. Concern Dialog has succeeded in providing to the point and excellent advice that have always best served to our interests. Advise has mainly provided to us by Aram Orbelyan, Senior Partner, as well as Heghine Khachikyan and Lilit Karapetyan (both Senior Associates). The comprehensive experience of the firm has allowed us to get very specific and to the point advise, especially when it comes to real estate, heritage preservation, corporate law, tax and environmental impact related issues, as the team has deep knowledge and understanding on very narrow and sector-oriented issues.

CLIENT: Hakob Hakobyan
COMPANY/FIRM: Renaissance Cultural and Intellectual Foundation
TESTIMONIAL: We, at Renaissance Cultural and Intellectual Foundation, have had a long standing and impressive cooperation with Concern Dialog law firm. Our cooperation has commenced since 2017, when the foundation initiated a program for opening William Saroyan’s (world known Armenian-American novelist) House-Museum in Fresno, at the same time we also decided to merge then existing two foundations into one. Concern Dialog’s knowledgeable team has proven its excellent knowledge and experience within a number of issues that we have come across (and assisted to coordinate the work of the lawyers in California wherever the assistance was needed).What is particularly impressive about Concern Dialog’s team, is that they have managed to provide versatile support on various aspects of our activities and have professionally addressed any of our concerns regarding the legal implications thereof. They have covered issues starting from contractual and corporate matters, including drafting our main project agreements and leading the process of reorganization (merger) of the foundation. We have also found their advice and support on Intellectual Property law issues immensely helpful, as this is one of the most critical aspects of our activities with the house museum. The project of William Saroyan house museum is still ongoing, Concern Dialog assist us now with trademark and other IP related issues, including relationship with the Stanford University and William Saroyan foundation.We have worked with many of the specialists of the firm, including Sedrak Asatryan, Aram Orbelyan, Lilit Karapetyan and Harutyun Hovhannisyan. We continue using the services of the firm and are confident that they always provide services of the highest quality.

CLIENT: Arsen Harutyunyan
COMPANY/FIRM: Startup Armenia Foundation
TESTIMONIAL: Startup Armenia Foundation was established in March 2016 with its main goal of contributing to the development of startup ecosystem in Armenia. The foundation has initiated a series of projects designed to support startups in different stages of development, as well as, periodically organized events, where startups have an opportunity to present their projects, get support from the foundation and integrate to the startup ecosystem. Among projects organized by our foundation are the Seaside Startup Summit, Startup Clubs, etc.We have had a positive experience working with the team of Concern Dialog law firm since 2017. Concern Dialog’s professional team has provided comprehensive and thorough legal support to us: such support has varied from consultancy on major projects and complex transactions to day-to-day assistance to our activities. As we work with start-ups in different areas, legal issues at stake each time are usually novel as well. The team of Concern Dialog was always easy to explain the issues, and receive comprehensive feedback and consulting be it contract law or data protection, product producer responsibility to Intellectual Property protection and many others. We have successfully cooperated with a number of specialists from the Company, including Sedrak Asatryan, Aram Orbelyan, Lilit Karapetyan, Harutyun Hovhannisyan and others. We can confidently state that the lawyers at this firm are true professionals: our cooperation has proven that this is a team of strong and reliable specialists who have always found the best legal solution for any issues and obstacles that have arisen in the course of our activities.

CLIENT: Hovhannes Grigoryan
TESTIMONIAL: Breavis has started cooperation with Concern Dialog Law Firm since 2015. Along this way, Concern Dialog has proven to be an excellent partner both in terms of professional service deliveries and in Concern Dialog assisted Breavis with a wide range of legal services, such as legal documents monitoring and revision, due diligence, provision of consulting and negotiation with clients, outsourced agencies, and state institutions when needed.Particularly, we are delighted with their consultancy in the sphere of labor law, legal support in HR management. Throughout the years, Concern Dialog assisted us in solving several structural issues in those spheres, which eased the operations and inter-corporate relations. We would like to express our gratitude to the heads of Concern Dialog (Mr. Sedrak Asatyan and Mr. Aram Orbelyan) and their efficient team, highlighting particularly our pleasure working with professional and experienced attorneys as Ms. Narine Beglaryan and Ms. Lilit Karapetyan, who are leading experts in their field and have a significant contribution to the development of the legal sphere in Armenia. We hereby recommend Concern Dialog Law Firm as one of the best legal advisory service providers in Armenia.

CLIENT: Lilit Yeghizaryan
COMPANY/FIRM: Dexatel Armenian brancհ
TESTIMONIAL Dexatel Armenian branch is an IT company with the staff of local employees. Concern Dialog has been assisting us with mostly employment law related matters.Concern Dialog drafted and implemented for various internal acts such as the Leave Policy, Internal Disciplinary Rules, Confidentiality Policy. Managing Partner of Concern Dialog Mr. Sedrak Asatryan personally provides training of staff as regards to our company’s policies and rules. The firm supports us with the hiring and firing of staff including mediation related thereto. We are highly satisfied with the services provided in particularly by Mr. Sedrak Asatryan’s and Mrs. Janna Simonyan’s professional approach and impact of the latter on development of internal regulation and working environment of our firm.


Global Reach Through Treaties: Armenia has signed over 50 bilateral investment treaties (BITs) and double taxation [elimination] treaties (DTTs) with countries worldwide, including the United States, Canada, Switzerland, and China.  Armenia is a member of several multilateral treaties (including the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID) Convention and the Energy Charter Treaty) aimed at encouraging and protecting investments. These treaties provide investors with legal certainty, protection, and reduced tax burdens, fostering a secure and predictable business environment.

Championing Open Trade: Armenia’s commitment to international trade extends to its World Trade Organization (WTO) membership. This membership ensures adherence to multilateral trade rules, further solidifying Armenia’s reliable and transparent trading partner position.

At the Heart of Eurasia: As a member of the Eurasian Economic Union (EAEU), Armenia enjoys tariff-free trade with Russia, Belarus, Kazakhstan, and Kyrgyzstan, a market of over 200 million consumers. This membership simplifies customs procedures and opens doors to a vast economic area.

Beyond the Basics: This is just the tip of the iceberg. Armenia boasts a simplified business registration process, a competitive corporate tax rate of 18%, and a skilled and educated workforce. Its strategic location between Europe and Asia, coupled with a growing tech sector and a thriving tourism industry, adds further appeal.

Explore the Potential: Whether you’re an entrepreneur eyeing new markets, a lawyer advising clients on cross-border investments, or a business leader seeking expansion opportunities, Armenia stands ready to welcome you with open arms. This Doing Business guide serves as your compass, navigating the legal intricacies and illuminating the path to success in this dynamic and promising nation.


Main Trade Sectors:

Armenia’s economy is mainly based on agriculture, mineral extraction, renewable energy (hydro and solar) generation, telecommunications services, ICT, jewellery production and sale, banking and financial sectors, and tourism.

  • Services represent 52.8% of GDP and employ 51% of the active population.
  • Agriculture plays a significant role in Armenia’s economy, contributing to 11.3% of the GDP and employing 24% of the workforce.
  • Armenia possesses substantial deposits of copper, molybdenum, zinc, gold, and other metals, forming the basis for the country’s mining industry and main exports. The mining sector is still a major contributor to GDP and exports.
  • Renewable energy is well-developed, including traditionally developed hydropower plants, with solar energy solutions emerging in the recent decade. In general, the energy sector is an important part of the economy, and Armenia exports electricity, with the mining sector being a significant consumer.
  • The ICT sector is also growing and is considered a priority by the government; in addition to many assistance programs, IT startups can benefit from a beneficial tax regime.
  • The banking sector has grown in particular: it is considered a solid and stable sector composed of 18 commercial banks (


Business Environment (specific considerations Foreign Investors)

The Republic of Armenia has an “open-door” policy for foreign investments. It is one of the most open investment regimes among the CIS countries. The legislation allows smooth processes of starting and conducting business in Armenia and provides investment protection mechanisms through national and international instruments.


Key factors to consider when starting your business in Armenia:

  • Լimited liability company (one of the most common types of legal entities in Armenia) can be registered through an accelerated process in less than an hour (provided that the founders and the director are present in Armenia in person.
  • The standard registration process of Limited Liability Companies and Closed Joint Stock Companies usually takes 1-2 days (with certain exceptions for CJSCs.
  • With very few exceptions (mostly licensed media /television and related/ activities), there is no local participation requirement; companies in practically all sectors are allowed to have 100% foreign participation.
  • The directors, members of boards and any other employees of the company may be foreign citizens (note that employment permit and residence permit requirements may still be applicable), and they don’t have to reside in Armenia.
  • There is no minimum charter capital requirement for any type of company (there are very few sector-specific exemptions – mainly in the financial sector).


The law “On Foreign Investments” guarantees national treatment and non-discrimination of foreign investors. It explicitly determines that the laws applicable to foreign investment cannot be less favourable than those governing the property rights and investment activities of Armenian citizens and legal entities. Armenian law does not determine requirements for pre-approval or approval of such foreign investment by any state body, and the investment can be carried out without any prior interaction with the government or without any prior authorisation.

The only exception is that foreign citizens and persons without citizenship have no right to own land in Armenia (given the exemption from this rule, in practice, the limitation applies only to agricultural land and forests). However, foreigners are allowed to use land through long-term lease contracts and obtain other rights (such as the right of development) that do not grant a right of ownership. Furthermore, the limitation does not apply to fully foreign-owned companies incorporated in Armenia, meaning the land can be owned through an SPV without restriction.


Benefits and Incentives for doing business in Armenia.

There are certain benefits to doing business in Armenia. The Armenian government has implemented various policies and programs to promote entrepreneurship and attract foreign investment. Some of the incentives and incentives and benefits for doing business in Armenia include:

  • Armenia ranks one of the highest in the Logistics Performance Index: 3rd in the CIS region, with excellent customs and logistics quality performance.
  • Armenia has 4 Free Economic Zones with NO profit tax, VAT, or property taxes.
  • Armenia allows 100% foreign ownership of local business entities.
  • Equal opportunities for local and foreign investors.
  • “Grandfathering” investment-related legislation stabilisation clause for five years after the [each] investment.
  • Armenia has no restrictions on remittances, repatriation of profits, or proceeds.
  • A sustainable banking system following international standards and best practices.
  • Free currency exchange, stable local currency.


The Government of Armenia provides incentives for businesses, including tax exemptions for activities in bordering and other communities, customs duties exemptions for importing certain goods and equipment, tax benefits for the IT and medical sectors, and many more.


Legal System, Foreign Investment Restrictions

Legal System։

Armenia uses the continental civil law system. The Civil Code of Armenia is based on the Napoleonic Code, whereas the German model shaped administrative legislation.


Judicial Order:

Armenia’s civil court system consists of three tiers. The first tier is the court of general jurisdiction of the first instance, which is the lowest level. The second tier is the Court of Appeal, and the highest tier is the Court of Cassation, serving as the supreme authority in the system. In addition to the court of general jurisdiction, specialised courts are also allowed by the Constitution; specialised administrative, bankruptcy and anti-corruption courts are created and functioning.

In terms of the hierarchy within this three-tier structure, decisions made by the Court of First Instance can be appealed to the Court of Appeal, and decisions made by the Court of Appeal can further be appealed to the Court of Cassation.


Enforcement of foreign judgements and awards:

Foreign or international arbitration awards or a foreign court decision can be recognised and allowed to be enforced in Armenia. Court practice on the matter is quite rich and positive. In addition to international treaties allowing for such recognition and enforcement, Armenian procedural legislation has enlarged the possibilities of such recognition. Since 2018, the Armenian civil procedure code has foreseen the possibility of recognising and enforcing the foreign court order on the grounds of reciprocity, which is presumed to be present unless proven contrary.


Arbitration and Mediation:

Armenia’s arbitration legal framework is based on UNCITRAL principles. As a member of the New York Convention, the arbitral awards rendered in Armenia can be enforced in other New York Convention member countries and vice versa. There are a number of arbitration centres offering parties a range of institutional options to administer their disputes. Additionally, ad-hoc arbitration can be utilised, affording parties the flexibility to customise proceedings to their specific requirements, thus consolidating Armenia’s reputation as a jurisdiction conducive to arbitration.

Armenia is a signatory to the Singapore Convention on Mediation. Further, the domestic legislation under the Law on Mediation comprises regulations regarding the certification of mediators. In some cases, parties are required to attempt mediation before pursuing court action. However, it’s important to note that mediation is not widely utilised in Armenia. Additionally, the Financial System Mediator’s Office, established by the Central Bank of Armenia (CBA), handles disputes between financial institutions licensed by the CBA and their clients. Despite its name, this office functions more as a Financial Ombudsman rather than a mediation process. Nonetheless, it serves as a popular alternative dispute resolution mechanism in the financial sector, aiming to safeguard the rights of customers.



The following are the general types of taxes which are paid in Armenia:

  • value-added tax (20%),
  • profit tax (18%),
  • Income tax for dividends (5%) /applicable only to individuals/,
  • property tax (0,05%-1,5 % from the market value price of the property),
  • income taxes (20%; certain exceptions are applicable depending on the nature of income),
  • excise taxes,
  • turnover tax (1.5-10% of turnover for businesses that are not VAT payers) is a beneficial tax regime for small businesses.


Armenia has treaties on excluding double taxation and preventing fiscal evasion with 51 counties.

Further, Armenia is a member of the EAEU, which leads to the regulation of custom-related matters as per the EAEU customs code by the country through the implementation of similar rules into the local legal acts.


Corporate legislation:

Limited Liability Companies (LLC) and Closed Joint Stock Companies (CJSC) are two main types of corporate vehicles. LLCs are usually used as an SPV with one participant or for simpler arrangements. CJSCs are better fitted for situations when there is a more complex relationship between the shareholders, and the relationships thereof should be regulated. Particularly, the law on JSC indicates the option of concluding a shareholder agreement between shareholders. The legislation further regulates the shareholding option scheme of employees and foresees more complex corporate law regulations.

The legislation recognises the fiduciary duties of executive bodies (including the board and the director). It indicates certain instances where the corporate veil may be pierced. The company’s shareholders may be brought to liability (e.g., within bankruptcy proceedings), which are limited and are interpreted by courts in a restricted manner.


Competition law:

Competition Protection Commission of the Republic of Armenia is the main state body carrying out control over compliance with competition law requirements. The RA Law on Competition Protection indicates the main principles and regulations of the competition law.

In certain instances, the Mergers and Acquisition as a concentration are subject to declaration before the commission (depending on the volume of assets and income of the parties to the concentration). Furthermore, the legislation indicates regulations aimed at protecting consumers and competitors from unreasonable reductions or increases in prices, anti-competitive agreements, cartels, unfair competition, etc.

It is noteworthy that the legislation considers the group of persons as an economic entity, and respectively, when carrying out control over compliance of laws, considers not only the separate individual and legal entity in isolation but also individuals and legal entities having affiliation therewith jointly.


Labour law.

Armenia has been a member state of the International Labour Organisation since 1992. The main legal framework governing labour relations in Armenia consists of the Labour Code and pertinent international agreements. Labour relationships are mainly based on labour contracts, which must be concluded between the parties prior to the commencement of employment.

The legislation can generally be considered employee-centric. The legislation limits the situations and cases when the employment contract may be terminated unilaterally (which is, however, in line with similar European regulations) and only through procedures regulated by law. However, the employer is fully authorised to choose the structure of the company and the number of employees they need as an exercise of the constitutional principle of freedom of entrepreneurship/economic activity, which means, in practice, the layoffs cannot be subject to external control regarding the bases of such action. Further, the employees have the right to form representative bodies, such as trade unions or workers councils, which are elected by workers’ assemblies or conferences. Additionally, the Law on Trade Unions governs and ensures the rights and activities of trade unions in Armenia. However, trade unions are not established well in Armenia, and in general, even where they are present, they are not very active in labour law-related processes.


Current Opportunities and Future Prospects

Development and construction are booming in and on the outposts of the capital city. Mostly, it is residential and business area construction is taking place.

The IT sector in Armenia continues to be a highly advanced and desirable business field. It is currently elevating its market position, partly due to the influx of major IT companies relocating from Russia.

Mining, banking, financial institutions, and energy business activities are well-developed yet remain attractive for investment opportunities.

Officials are focusing on agriculture and capital markets to improve the current situation, i.e., developing high-margin agriculture production and having a more active and advanced capital market.


Keep in mind!

Armenia is a member of the Committee of Experts on Evaluating Anti-Mօney Laundering Measures and the Financing of Terrorism – Moneyval. Thus, the relevant legislation was adopted and has been applied after that in the territory of Armenia.

Business entities which are registered in the country are obliged to declare their ultimate beneficial owners. The information about ultimate beneficial owners is publicly available data.

Although this creates certain additional obligations for businesses operating and creates a necessity for additional resources, this provides additional transparency measures in the business operations and creates additional mechanisms for combating and preventing ML-TF practices.


Top tips to takeaway “What to know before Investing”

Depending on the nature and volume of investment, it is important to retain relevant consultants (or at least to receive general advice from them) to assist the investors throughout the process of investment and subsequent implementation of the projects:

  • It is critical to hire a [local] tax and accounting consultant at all times to ensure that accounting and tax reporting obligations and the related payment obligations are duly complied with.
  • Depending on the nature of the project, it is recommended to have a legal consultant,
  • If the investment plan may have any environmental law-related implications, it is recommended to hire not only a relevant legal practitioner but also a consultant of ecology or of a respective field to evaluate the feasibility of the project from the perspective of environmental law requirements.


Further, it is advised to:

  • Reach out to relevant business associations (currently in Armenia, you can find such associations including the Armenia chapter of the International Chamber of Commerce, American Chamber of Commerce, British Chamber of Commerce, German Business Association, French Chamber of Commerce and Industry, European Business Association and many more /please check with your local chamber of commerce and industry and with Embassy in Yerevan to see if they have representatives or affiliated organisation in Armenia).
  • It is not necessary to schedule meetings with state authorities or relevant ministries unless they are explicitly required for the project’s objectives, such as during the implementation of a PPP (Public-Private Partnership). While these meetings may yield positive outcomes for social media purposes, they rarely contribute substantially to the project’s development and investment. Additionally, any verbal advice provided by the state authorities on the spot, without reviewing project documents, should be treated with caution, as the relevant officials may not have a comprehensive understanding of the project and its processes. It is essential for consultants to cross-check and verify any such advice before considering it applicable to the specific project.


Join now and be part of a vibrant business community that constantly innovates, perfects its skills and creates value while enjoying Armenia’s stunning landscapes, rich culture, and welcoming people.

Don’t miss the unique opportunity to grow your business in Armenia, where Concern Dialog law firm can be your primary navigator!