Doing Business In... 2025

ARMENIA LAW AND PRACTICE Contributed by: Aram Orbelyan, Narine Beglaryan, Artur Hovhannisyan, Lilit Karapetyan, Sarkis Knyazyan and Shushanik Stepanyan, Concern Dialog

entities. The criminal liability of the natural person does not exclude the criminal liability of the legal entities. The applicable coercive measures are a fine, temporary suspension of the right to engage in a certain type of activity, compulsory liquidation, and a ban on carrying out activities in the territory of the Republic of Armenia (for non-resident legal entities only). 5.8 Tariffs In the Republic of Armenia, a state fee of AMD200,000 is set for obtaining a licence for each importation of up to 100 tonnes of cement. This measure is aimed at creating fair competi - tion between cement importers from the Islamic Republic of Iran and cement producers in Arme - nia. Amendments have been adopted in the first reading of the law, according to which the above- mentioned fee of AMD200,000 is proposed to be increased to AMD800,000. The final adoption of this law is expected in June 2025. Armenia, like many countries around the world, encourages the import of electric vehicles. Therefore, importers of such vehicles are exempt from the obligation to pay 20% VAT. Currently, a draft law is under discussion that proposes that, starting from 2026, the VAT exemption will apply only to vehicles that are up to two years old.

• acquisition and merger of business entities registered in the RA; • acquisition of assets of an economic entity registered in the RA by another economic entity if the value of those assets solely or together with the assets already acquired from that economic entity during the last three years equals or exceeds 20% of the value of the total assets of the selling eco - nomic entity at the moment of submitting the declaration of concentration; • acquisition of shares of an economic entity registered in the RA by another economic entity if the amount of those shares solely or together with the shares already owned by that economic entity equals or exceeds 20% of the total shares of the first economic entity; • acquisition of the right to use an object of intellectual property, including the means of individualisation, as a result of which the economic entity can gain influence on the competitive situation in any product market in the RA; • any transaction, action, reorganisation or behaviour of economic entities through which an economic entity can directly or indirectly influence the decision-making or competi - tiveness of another economic entity, or can directly or indirectly influence the decision- making or competitiveness of another person, or can influence the competitive situation in any product market in the RA; and • establishing a legal entity in the RA by more than one economic entity, which shall act independently/separately. Notification A concentration must be declared before the Commission and shall not be completed prior to receiving the Commission’s consent in the following cases:

6. Competition Law 6.1 Merger Control Notification Concentrations

Mergers and acquisitions are subject to notifica - tion to the Competition Protection Commission (the Commission) if they are notifiable concen - trations under the Law on the Protection of Eco - nomic Competition. According to the law, the following actions are considered concentrations:

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