National Assembly Approves Bill for Establishing Sole-Proprietorship LLCs

The National Assembly of Armenia has approved the bill allowing the establishment of limited liability companies (LLCs) with a single member in its second reading. The bill was authored by the 'Bright Armenia' faction.

The proposal received 107 votes in favor, 1 against, and 2 abstentions. MP Mane Tandilyan noted, 'Current regulations contained a requirement that was an unnecessary obstacle for entrepreneurs in Armenia to establish and operate such organizations. This requirement stated that no other entrepreneurial entity could establish a one-person LLC in our country. With this initiative, we are removing the barrier, which we hope will create a more liberal environment and stimulate the investment climate.'