On May 18, 2017 at Fordham University's Lincoln Center Campus the Armenian Engineers and Scientists, New York - New Jersey Section in conjunction with the Armenian Bar Association held a joint lecture event titled "Business Environment in Armenia: Legal and Practical Issues" by Mr Arsen Manukyan. Arsen is a highly accomplished lawyer based out of Yerevan, Armenia with over 20 years in the Public and Government Sectors and leading Programs for Economic and Social Development. His talk focused on the challenges and efforts and Armenian government is making to encourage business development in the country. He raised important issues for anyone interested in starting a business including the process of registering a business, the labor code, taxes and various costs of doing business in Armenia such as legal, financial and book keeping aspects.
He also spoke of recent development that are helping new startup companies. These benefits include 100% electronic tax reporting system, introduction of the risk based audit system with goal of eliminating the arbitrary workstyle, decreasing the interference of the Tax Inspectorate and control bodies, introduction of the Electronic Signature and Electronic documentation (invoicing) system, Unified Income Tax Personified record keeping system for employees, Integrated public service centers in the regions and simplified and fast procedures for the state registration of the legal entities.
The event was very well received with over 30 attendees with an extensive question and answer period. Many attendees stayed afterwards to thank Arsen for his informative talk and exchange contact information. All in all it was a successful event and we hope that we will have future events with the Armenian Bar Association.