IAF President visits Alliance Free Economic Zone (FEZ) of Armenia
Today, on February 8, Co-Founder and President of Indo-Armenian Friendship NGO Mr. Rananjay Anand visited Alliance Free Economic Zone (FEZ) of Armenia and met Mrs. Nika Manukova, Director of FEZ of Armenia. Mr. Rananjay Anand was accompanied by IAF's Vice-President Mr. Karen Hovhannisyan and an Indian businessman interested in investing in Armenia.
Mrs. Nika Manukova extended a brief tour of the FEZ facility to the visiting delegation. During the meeting, the sides discussed the various facilities, benefits and their modalities offered by the FEZ Armenia.
Ms. Manukova gave a detailed overview of FEZ to the visiting side:
Armenia is an attractive destination to establish a business.
Armenia offers various investment opportunities with a lot of attractive benefits involved. An investor can be a FEZ resident by obtaining permission from the Government of Armenia upon evaluation of Application, Business Plan, and Reference provided by the organizer about activities performed in the FEZ.
FEZ residents are exempt from all taxes, except for the comprehensive income tax on employee salaries (personal income tax = 23%):
income tax — 0%
VAT — 0%
import customs duties — 0%
export customs duties — 0%
dividend taxes — 0%
real estate and property taxes — 0%
In addition, FEZ residents are exempt from all currency restrictions. They are granted the right to repatriate investment capital, profits and dividends.
Indo-Armenian Friendship NGO is currently working on promoting various business & trade interests between India & Armenia. It is to be noted that IAF is offering an A-Z business consultancy to the interested investors through its own associate company. Those who are interested to invest in Armenia can contact IAF with their intended investment plan.
We are grateful to Mrs. Nika Manukova for her time and cooperation.