Innovation in information technologies as well as their application in different industries determine the rapid growth of the world economy in the last decade. By maintaining its considerable potential for technology development, Armenia remains the regional leader in IT industry.
Availability of a technical workforce in Armenia creates a favorable investment climate for large ICT companies and multinationals.
Major specializations within Armenian ICT companies include embedded software development and semiconductor design, customized software and outsourcing, financial software, multimedia, web design, information systems and system integration.
Today, about 380 ICT companies operate in Armenia, generating an average annual growth of 20%. While 90% of these companies are Yerevan-based, the number of companies operating in other regions of Armenia is growing from year to year due to the development of educational and scientific infrastructure as part of regional development programs.
Only in 2012 and 2013, 36 new companies were established, which created almost 360 new jobs. In total, around 1,800 new jobs were created in 2013.
Armenia offers a number of privileges to foreign investors for investments in IT sphere, including not levying duties on investment in the founding capital and absence of obstacles to investment entry. The Law on Foreign investment provides a five-year investment protection from unfavorable legislative changes.
Currently a range of tax privileges are applied for startup IT companies, which include application of 10% income tax rate, as well as profits tax exemption.
We are able to provide a full range of services to IT businesses whatever stage they are at in the business cycle, including:
- Bookkeeping and management accounting
- Payroll and benefits
- Audit and assurance services
- Corporate tax compliance
- International and corporate tax planning
- Tax and duty advise
- Company registrations
We work with start-ups, investing our time in ambitious companies with strong management, and fast growing entrepreneurial businesses.