IT Investment Ecosystem in Armenia
A pro-business environment to locate a regional headquarter
� � �
� � �
A favorable investment climate in Armenia : Company incorporation is completed in 2 working days 100 % foreign ownership is permitted Investment protection implies 5-year guarantee protection against changes of legislation on investments A sound and well-regulated banking system Free exchange of foreign currencies and repatriation of profit Competitive operational costs
Possibilities of Armenia ’ s IT sector
Information and Communication Technology sector in Armenia is comprised of 650 companies , of which 200 are foreign . More than 150 new startups were launched in 2017 . 3 21.6 % of companies in the Armenian IT sector specialize in customized software and outsourcing , 13.7 % specialize in web design and development .
More than 15,000 professionals are employed in IT sector . Seven local and international universities , located in Armenia , offer IT specialization and provide with well-educated and high qualified workforce .
The “ Alliance ” free economic zone is oriented to the production and exports of high and innovative technologies in the field of electronics , precision engineering , IT , etc . The FEZ residents are exempt from all taxes except the payroll taxes . 4
3 http :// www . eif . am / eng / researches / report-on-the-state-of-the-industry /
4 http :// itdsc . am / wp-content / uploads / 2016 / 06 /% D5 % 8F % D5 % 80 % D5 % 8F- % D5 % B8 % D5 % AC % D5 % B8 % D6 % 80 % D5 % BF % D5 % AB-2015 % D5 % A9 . - % D5 % AB- % D5 % B0 % D5 % A5 % D5 % BF % D5 % A1 % D5 % A6 % D5 % B8 % D5 % BF % D5 % B8 % D6 % 82 % D5 % A9 % D5 % B5 % D5 % B8 % D6 % 82 % D5 % B 6-English . pdf
5