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Armenian Dram (֏, AMD)





UTC + 04:00

In recent years, economic stability and expansion were observed in Armenia followed by prudent macroeconomic policies and political realignment. However, domestic political uncertainty and the COVID-19 crisis have affected the economy of Armenia. Nonetheless, industries such as food processing, agriculture, mining and energy are the main sectors that are still driving the economy of Armenia forward. Investment opportunities and businesses in the area of information technologies are also developing swiftly.

How to build a team in Armenia

Employers need to follow the strict employment guidelines set forth by the local authorities before they could employ in Armenia. This process can be time-consuming as the company first needs a legal entity in the country and it needs to manage payroll, tax, benefits and compliance.

Global payroll solutions make it easy to find and hire top talent in Armenia. With one seamless integration and local legal entity, we take care of the compliance matters so that you can start your globelizing plan immediately.

Compliance risk

Risk of misclassification

Armenia’s worker classification labour and tax laws distinguish between contractors and full timers. If the individual meets the legal definition of an employee but is classified as a contractor, your company will face penalties.

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