The Ministry of High-Tech Industry has unveiled a platform for registering, transferring, establishing and running IT companies and organizations by foreign citizens in Armenia.

The registration process is carried out by the Agency for State Register of Legal Entities of the Ministry of Justice of the Republic of Armenia. People seeking to do business in Armenia can also visit the United Office for Public Services in downtown Yerevan.

In order to develop the ICT sector, the Armenian Government has established a number of benefits, which are enshrined in the legislation of the Republic of Armenia and relevant resolutions of the Government of the Republic of Armenia.

The new platform also offers information about how to buy or rent an apartment in Armenia, how to open online accounts in Armenian banks, and how to obtain a work permit.

The easiest way to register a non-resident in an Armenian company is to conclude a civil- law contract for the provision of services with him. To conclude an employment contract with an employee, the employee must have a residence permit in the Republic of Armenia.

A unified electronic platform is operating for foreigners to get work permits.

The Russian invasion of Ukraine and the unprecedented Western sanctions against Russia have made many Russian businesses flee their home country and settle in Armenia. The Ministry of Economy earlier published a guide for businesses seeking to relocate to Armenia, also setting up a working group to answer queries.