Russian citizens registered 891 companies in Armenia in 2023, Sputnik Armenia reports citing the country’s Ministry of Justice.

Of these companies, 5 have ceased operations.

In addition, 3,857 Russian citizens of the Russian Federation registered as individual entrepreneurs in 2023, of which 221 were later deregistered.

In 2021, the number of companies registered by Russian citizens was 225 (2 were liquidated), while the individual entrepreneurs were 201 (21 were deregistered). In 2022, 2,285 companies were opened (32 were liquidated) and 4,961 individual entrepreneurs were registered (707 were deregistered).

The Ministry of Justice noted that they only keep records of participants in limited liability companies, but not in joint stock companies.