Misaq Hovsepyan, Son of Former Prosecutor General, Acquires New Company and Real Estate

Misaq Hovsepyan, the middle son of former Prosecutor General and head of the Investigative Committee, Aghvan Hovsepyan, has acquired a new company in the Czech Republic. Previously, Hetq reported that M. Hovsepyan, involved in the hydropower business in Armenia, founded a company named 'OMIRA' in Prague in 2010.

It is noted that foreigners, including our compatriots, often establish or acquire formal companies in the Czech Republic not to engage in business activities but to facilitate the processes of purchasing real estate, obtaining citizenship, or simply securing long-term visas or residence permits in the country. The Czech Ministry of Internal Affairs and embassies are well aware of attempts by foreigners to stay longer than the maximum 90 days permitted for foreigners within six months (in the Czech Republic), and they have started to reject more applications from individuals who supposedly engage in business and seek long-term visas or residence permits.

We reported that there have been no documents related to Misaq Hovsepyan's 'OMIRA' company in the Czech register since 2013, although it has not been dissolved. The areas of activity for the company include real estate rental, trade, and service provision (according to Czech registry data). In a previous article, we also mentioned that no real estate is registered under the name of 'OMIRA' or M. Hovsepyan.

Misaq Hovsepyan did not found his new company himself. 'TRANSFRUKT' LLC was established on May 23, 1991, in Prague. It was registered and managed for a long time by locals. According to the Czech registry, the company was previously engaged in various activities, including wholesale and retail import and export of fruits and vegetables, resale of goods, and mediation in trade and services, as well as renting movable property and acting as a real estate agency. However, since 2017, the company has been focusing solely on the rental of real estate, both residential and non-residential spaces, as well as certain types of trade and services.

The company's statutory capital originally stood at 1.76 million koruna, then increased to 4.76 million, and since 1997 has been 865 thousand koruna, equivalent to 18 million drams at the current exchange rate. Yerevan resident Misaq Hovsepyan acquired 'TRANSFRUKT' from five Prague residents on December 20, 2018, becoming its sole owner and director. No documents have been submitted to the registry during the tenure of the former prosecutor's son.