Russian Citizens Established 891 Companies in Armenia in 2023

In 2023, a total of 891 companies were registered in Armenia by Russian citizens. This information was provided by the Ministry of Justice of Armenia in response to a query from Sputnik Armenia.

Of these companies, 5 have ceased operations. Additionally, last year, 3,857 Russian citizens registered as individual entrepreneurs, with 221 of them later deregistering.

For comparison, in the previous year, 225 companies were registered with the participation of Russian citizens, two of which were subsequently dissolved. In the same year, 201 individual entrepreneurs were registered, with 21 later exiting the registration.

In 2022, there were 2,285 LLCs (Limited Liability Companies) established with Russian citizen involvement, of which 32 were dissolved, and 4,961 individual entrepreneurs registered, with 707 deregistering.

The media reports that the Ministry of Justice also indicated that they only have access to information regarding participants of limited liability companies. The agency does not possess information regarding shareholders of joint-stock companies and participants of commercial cooperatives in the State Registry of Legal Entities of the Ministry of Justice of Armenia.