Business Reforms in Armenia
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Getting Electricity: Armenia made getting electricity easier by imposing new deadlines for connection procedures and introducing a new geographic information system at the utility.
Registering Property: Armenia made registering property easier by improving the land dispute resolution mechanisms of the land administration system.
Getting Credit: Armenia strengthened access to credit by adopting a new law on secured transactions that establishes a modern and centralized collateral registry. Armenia improved its credit information system by adopting a new law on personal data protection.
Enforcing Contracts: Armenia made enforcing contracts easier by introducing a consolidated chapter regulating voluntary mediation and by establishing financial incentives for the parties to attempt mediation.
Dealing with Construction Permits: Armenia made dealing with construction permits easier by exempting lower-risk projects from requirements for approval of the architectural drawings by an independent expert and for technical supervision of the construction.
Trading across Borders: Armenia reduced the time and cost for documentary and border compliance for trade with the Russian Federation by joining the Eurasian Economic Union.
Enforcing Contracts: Armenia made enforcing contracts easier through a new law requiring that cases be assigned to judges randomly—and through a fully automated system—in courts throughout the country.
Starting a Business: Armenia made starting a business easier by streamlining postregistration procedures.
Starting a Business: Armenia made starting a business easier by eliminating the company registration fees.
Paying Taxes: Armenia made paying taxes easier by merging the employee and employer social contributions and individual income tax into one unified income tax.
Getting Electricity: Armenia made getting electricity easier by streamlining procedures and reducing connection fees.
Protecting Minority Investors: Armenia strengthened investor protections by introducing a requirement for shareholder approval of related-party transactions, requiring greater disclosure of such transactions in the annual report and making it easier to sue directors when such transactions are prejudicial.
Starting a Business: Armenia made starting a business easier by establishing a one-stop shop that merged the procedures for name reservation, business registration and obtaining a tax identification number and by allowing for online company registration.
Dealing with Construction Permits: Armenia made dealing with construction permits easier by eliminating the requirement to obtain an environmental impact assessment for small projects.
Getting Credit: Armenia improved its credit information system by introducing a requirement to collect and distribute information from utility companies.
Paying Taxes: Armenia made tax compliance easier for firms by reducing the number of payments for social security contributions and corporate income, property and land taxes and by introducing mandatory electronic filing and payment for major taxes.
Resolving Insolvency: Armenia amended its bankruptcy law to clarify procedures for appointing insolvency administrators, reduce the processing time for bankruptcy proceedings and regulate asset sales by auction.
Labor Market Regulation: Armenia increased the maximum duration of fixed-term contracts, reduced the premium applicable in case of night work as well as decreased the notice period and the severance pay applicable in case of redundancy dismissals.
Trading across Borders: Armenia made trading easier by introducing self-declaration desks at customs houses and warehouses, investing in new equipment to improve border operations and introducing a risk management system.
Starting a Business: Armenia made starting a business easier by making the registration forms available online and by eliminating the minimum capital requirement and the requirement to obtain approval from the National Police Department to prepare the company seal.
Getting Credit: Armenia improved its credit information system through a new law establishing a legal and regulatory framework for the activities of credit bureaus, including collecting credit information and preparing credit reports.
Trading across Borders: Armenia reduced the time required for trading across borders by encouraging greater competition in the banking and transport sectors and customs brokerage service industry and by reducing the number of goods requiring inspection and the number of documents needed to clear goods.
Dealing with Construction Permits: Armenia made dealing with construction permits easier by abolishing the requirement to pay “charitable contributions” in order to obtain design rights.
Enforcing Contracts: Armenia made enforcing contracts easier by reorganizing its court system, reducing procedural complexity and introducing monetary thresholds for cases heard by different jurisdictions.
Getting Credit: In Armenia a private credit bureau started operating that distributes credit information on firms and individuals, has no minimum threshold for loans included in its database and guarantees all borrowers access to their credit reports.
Trading across Borders: Armenia made trading across borders easier by implementing an electronic data interchange system (Direct Trader Input) that enables customs brokers to submit customs declarations electronically.
Resolving Insolvency: Armenia adopted a new bankruptcy law with the aim of improving its reorganization proceedings and also set a time limit for judges to approve a reorganization plan.