|Population||About 2.9 million|
|Language||Armenian (Russian widely spoken)|
|Time Zone||GMT +4 (Summer Time GMT +5)|
|Currency||1 Dram (AMD) = 100 Luma|
* Click here for the latest rate of exchange.
Entry Visa for most foreign nationals, with the exception of passport holders from Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine and Uzbekistan.
Residence Permit for foreign nationals wishing to reside for more than 90 days.
Click here for latest IATA travel requirements for Armenia.
Registration as self-employed
Non residents, working in the country for less than 183 days or having their centre of vital interest abroad are liable only for their Armenian income.
Residents, working in the country for more than 183 days or having their centre of vital interest in Armenia, are liable for their worldwide income.
Self-employment taxation is based on year-end self assessment and quarterly advance payments of the estimated tax during the year. Advance tax payments are due by 15 March, 15 June, 15 September and 15 December of the tax year. Any balance payments must be made by 1st May of the following the tax year.
The tax year is the calendar year.
Self employed foreign nationals are taxed at a rate of 24.4% on annual income up to AMD 1,440,000 and 26% on anything above.
Mandatory contrbution: 5% contribution towrads state pension fund on a maximum monthly gross income of AMD 500,000
The income retention depends amongst others on the duration of the assignment, the contract rate, the marital status and the taxation and social security agreements between Armenia and the foreign nationals’ country.
Please contact Access Financial for more information.