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Resident’s Opportunities

Residents have following opportunities:

  • To minimize the expenses connected to the export and import custom duties, which results in a competitive price of production;
  • To hire a low-paid qualified labor force, absence of restrictions on employment of the foreign personnel;
  • To conducting activities with a minimum of administrative barriers and in an environment of simplified procedures («one stop» services and on-site custom registrations on the territory of FEZ);
  • To have an access to contemporary infrastructure of FEZ and the capital of Armenia;
  • To gain synergy effects from cooperation with other resident companies of FEZ, as well as to place the manufacturing and research divisions of the same Company on different sites of FEZ with similar concessionary terms.

How to apply and become a Resident

The free economic zone resident may be the commercial legal entities, individual entrepreneurs or branch offices registered in Armenia, as well as the representatives of foreign organizations running business only in the free economic zone based on the relevant permission granted by the Government of Armenia as a result of business plan evaluation and on the contract signed with the organizer.

The Procedure of Becoming a Free Economic Zone

Resident For getting FEZ resident permission it is necessary to submit an bid to the permanent interagency committee. The application form should include the following documents:

  • Application,
  • Business plan,
  • Reference provided by the organizer on terms of activities performed in the free economic zone.

Prior to submitting above mentioned documents to Government, Company-applicant is advised to submit its short Company Profile to FEZ Operator and held initial consultations with him. After that, when Operator will finalize its preliminary assessment, above mentioned Reference will be issued and executed, so whole package could be passed to Government. 

  • Within 10 days upon above mentioned documents submission special governmental inter-departmental Commission studies submission and evaluate Applicant’s Business-plan, and issue its conclusion in form of opinion letter addressed to Government.
  • Within 15 days based on above mentioned opinion letter Armenian Government take decision to grant permission or deny. 
  • Within 3 months after this permission entering in full force Applicant is advised to develop, execute and notarize facilities Rent Agreement with FEZ Operator.
  • Within 3 days after above mention Rent Agreement copy submission to Ministry of Economy of Armenia (an authorized state body) provide  to Applicant its FEZ Resident Certificate. 
  • Within 1 day upon such Certificate issuance, Authorized state body send its copy to the State Revenue Committee for their records.

Business Plan Evaluation Criteria for the Resident

The business plan of the resident of the free economic zone shall be assessed based on the following standards:

  1. export policy, directions and proposed sales volumes;
  2. project’s compliance with the aims and mandate of free economic zone;
  3. use of technological innovations;
  4. number of employees (new workplaces created) and Project’s estimated social impact;
  5. amount of total investments;
  6. information about key strategic partners (if any).

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G. Manukyan