Armenia set to simplify licensing conditions foreign companies

The Armenian Government has greenlighted amendments to the Law on Licensing.

Legal entities from member states of the European Union and the Eurasian Economic Union, as well as the US, Canada, South Korea, United Kingdom, United Arab Emirates, Georgia and Iran will now be able to receive permits for activities subject to licensing through simplified procedure on the basis of a license (or a relevant permission) provided by the authorized bodies of the above-mentioned countries.

According to the Minister of Economy Vahan Kerobyan, the aim of the bill is to make the participation in the activities subject to licensing in Armenia more accessible to foreign companies.

“As a result of the study, we singled out 13 types of activities out of 78, for which we can offer easier conditions for licensing to foreign companies,” he said at the government sitting today.

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