Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the CBA decision, including banking and payment rails.
Get a crypto license in Armenia.
The region's newest full framework: Armenia's Law on Crypto-Assets has been in force since 4 July 2025, with the Central Bank licensing service providers under a MiCA-inspired rulebook, and a first-mover window that stays open until the 2027 transition deadline.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Armenia in brief
A fresh, MiCA-shaped law - and an empty queue.
Armenia built its crypto framework deliberately and recently: the Law on Crypto-Assets entered into force on 4 July 2025, and the Central Bank of Armenia - the country's single financial regulator - adopted Regulation 7/01 on registration and licensing of crypto-asset service providers at the end of 2025, effective early 2026. The design is recognisably MiCA-shaped: licensed services include operating a trading platform, custody, dealing on own account, exchange, advice and portfolio management, with asset-referenced token issuance in the same architecture. Applicants incorporate as an Armenian JSC or LLC, deposit authorised capital in a non-affiliated Armenian bank, clear qualifying-holding approvals and file three-year business plans.
Two features make the window interesting. First, foreign crypto firms can enter through branch and representative-office permits - a route most new frameworks omit. Second, the transition: firms already serving the market must obtain licences by 31 January 2027 or cease, which means the register is forming right now and early applicants shape supervisory practice rather than inheriting it. Around the licence sits a growing IT economy, an 18% corporate rate with 5% dividends, and a central bank with a reputation for competence well beyond the region.
The region's newest full framework: the Law on Crypto-Assets since 4 July 2025, CBA licensing under Regulation 7/01, incumbents licensed by 31 January 2027.
MiCA-shaped services, branch permits for foreign firms, 18% corporate tax, and a register that is forming right now.
The framework
One licence, scoped to your services.
The law defines the service list and the CBA licenses the scope you apply for. With foreign firms able to enter through branch permits. We fix the perimeter first, then build once.
The law's service list, licensed by the CBA. With a branch route for foreign firms.
01 - CASP LICENCE
Trading, exchange & dealing
The core licence for platforms, exchangers and dealers serving the Armenian market. Trading platform operation, exchange and own-account dealing under Central Bank supervision.
The core licence for platforms, exchangers and dealers serving the Armenian market. Trading platform operation, exchange and own-account dealing under Central Bank supervision.
- ✓Operation of a crypto-asset trading platform
- ✓Crypto ↔ fiat and crypto ↔ crypto exchange
- ✓Purchase and sale on one's own account
- ✓Advice and portfolio management services
- ✓Authorised capital in a non-affiliated bank
- ✓Three-year business plan, CBA-reviewed
02 - CUSTODY & BRANCH ROUTE
Law in force since 4 July 2025Custody - and foreign branches
Custody of client crypto-assets under the same licence architecture - plus the route most new frameworks omit: branch and representative-office permits for foreign crypto firms entering Armenia.
Custody in the same architecture - plus branch and representative-office permits.
- ✓Custody and administration of client assets
- ✓Asset-referenced token issuance in-framework
- ✓Branch permits for foreign CASPs
- ✓Representative offices for market presence
- ✓Qualifying holdings approved by the CBA
- ✓Transition for incumbents ends 31 Jan 2027
Costs and timelines are confirmed for your case before any work begins. Capital, state duty and documentation follow the law and Regulation 7/01 with its annexes - scoped precisely in your quote.
Why Armenia
Early pages of a clean book.
The framework is the Law on Crypto-Assets, supervised by the Central Bank of Armenia. New, MiCA-shaped and still forming its register.
✓
A genuinely new framework
In force since 4 July 2025 with licensing rules from early 2026. Armenia wrote its law after MiCA, borrowing the structure without inheriting the queue. The register is forming now.Written after MiCA. Without the queue.
✓
First-mover supervision
Early applicants deal with a desk that is building practice, not defending backlog, and firms licensed before the 31 January 2027 transition deadline meet a market cleared of unlicensed incumbents.Early files shape practice; 2027 clears the field.
✓
The branch route
Foreign crypto firms can enter through branch and representative-office permits. A practical door for groups that want Armenian presence without a full local rebuild.Foreign CASPs enter without a full rebuild.
✓
A respected central bank
The CBA is the single regulator for banking and finance with a reputation for technical competence. Its licence reads as credible collateral with banks and partners.Single regulator, real competence.
✓
The IT economy around you
Armenia's tech sector has grown for a decade on engineering talent and diaspora capital. Hiring developers and compliance staff locally is realistic and affordable.A decade of talent and diaspora capital.
✓
Simple, moderate taxes
18% corporate tax, 5% on dividends, 20% flat personal income tax - no exotic layers, treaties across 45+ countries, and IT incentives for qualifying activity.18% + 5% dividends; IT incentives on top.
How it compares
How Armenia differs from other routes.
Armenia offers a new, structured framework in a region of extremes. Lighter than the AIFC, more formal than Georgia. The full comparison is below.
Armenia vs other jurisdictions
| Feature |  Armenia | Other jurisdictions |
|---|---|---|
| Regulatory regime | CASP licence - CBA | Registrations or heavyweight desks |
| Framework age | Law of 2025 - register forming | Settled or absent |
| Foreign entry | Branch permits available | Local entity usually required |
| Corporate tax | 18% · dividends 5% | 0-30% across the region |
Regulatory regime
ArmeniaCASP licence - CBA
Other jurisdictionsRegistrations or heavyweight desks
Framework age
ArmeniaLaw of 2025 - register forming
Other jurisdictionsSettled or absent
Foreign entry
ArmeniaBranch permits available
Other jurisdictionsLocal entity usually required
Corporate tax
Armenia18% · dividends 5%
Other jurisdictions0-30% across the region
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Armenia | CASP licence (CBA) | 18% CIT · 5% dividends | New desk, MiCA-shaped rules |
 Georgia | VASP registration (NBG) | 0%/15% Estonian model | Light-touch, fit & proper |
 Kazakhstan | AFSA licences (AIFC) | 0% CIT/VAT to 2066 | Published fees, English-law court |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
ArmeniaLicense typeCASP licence (CBA)
Taxation18% CIT · 5% dividends
RequirementsNew desk, MiCA-shaped rules
GeorgiaLicense typeVASP registration (NBG)
Taxation0%/15% Estonian model
RequirementsLight-touch, fit & proper
KazakhstanLicense typeAFSA licences (AIFC)
Taxation0% CIT/VAT to 2066
RequirementsPublished fees, English-law court
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
Before you apply
Requirements for the CBA licence.Requirements for the CBA licence.
The law and Regulation 7/01 define the file. Corporate form, capital placement, vetted people and a plan the Central Bank can interrogate. The checklist below is what a passing file contains.
01
Armenian entity. A joint-stock company or LLC registered for the purpose.
02
Authorised capital. Deposited in an Armenian bank not affiliated with the applicant, per the law.
03
Qualifying holdings. Significant shareholders approved by the CBA up to UBOs.
04
Fit & proper management. Clean records and relevant experience for directors and key staff.
05
Three-year business plan. Services, volumes and financials, filed for the services that require it.
06
AML/CFT framework. KYC, EDD, monitoring and reporting, with a named compliance officer.
07
Client asset arrangements. Segregation and custody design for assets held for clients.
08
IT and security documentation. Platform, wallet and key-management architecture.
09
State duty. The annual duty paid per the law's schedule.
10
For foreign firms: branch or representative-office permits under Regulation 7/01's route.
11
For incumbents: licensing before 31 January 2027 - or cessation of activity.
01
Armenian JSC or LLC.
02
Capital in a non-affiliated Armenian bank.
03
Qualifying holdings approved by the CBA.
04
Fit & proper management.
05
Three-year business plan where required.
06
AML/CFT with named officer.
07
Client asset segregation design.
08
IT and key-management documentation.
09
Annual state duty per the law.
10
Incumbents: licensed by 31 Jan 2027.
Reflects the Law on Crypto-Assets (in force 4 July 2025) and CBA Regulation 7/01 with annexes, as of 2026.Law on Crypto-Assets (4 Jul 2025) + Reg. 7/01, as of 2026.
How it works
From first call to the CBA register.
01
Perimeter and strategy
We map your services to the law's list. Licence, custody, or the branch route. Fixing scope, capital and timeline in writing.Licence, custody or branch - in writing.
02
Armenian company and capital
JSC/LLC formation, capital deposited in a non-affiliated bank, qualifying holdings prepared for approval.JSC/LLC; capital in a non-affiliated bank.
03
The application file
Three-year business plan, AML/CFT framework, IT and custody documentation per Regulation 7/01 and its annexes. Complete before filing.Plan, AML, IT - per Reg. 7/01 annexes.
04
CBA review
Question rounds with a desk still building its practice - 4-8 months expected for complete files. We answer every round.4-8 months expected; we answer rounds.
05
Licence and operation
Registration and licence from the Central Bank, launch under supervision, and the ongoing reporting we can keep running.Register entry, launch, reporting.
Quick facts
RegulatorCentral Bank of Armenia
Law in force4 July 2025
Licensing rulesReg. 7/01 · early 2026
In practice4-8 months expected
Transition ends31 January 2027
Foreign entryBranch permits
Corporate tax18%
Dividends5%
A new desk means practice is forming. Early, complete files shape it and move fastest.
On the ground in Armenia
Run from our Yerevan office.
Prifinance - Armenia
Yerevan · Armenia
Yerevan, Armenia
01
Armenian company formation
JSC or LLC incorporation, capital placement in a non-affiliated bank and the corporate layer the CBA expects.JSC/LLC + capital placement, structured.
02
The licence file
Business plan, AML pack, IT documentation and qualifying-holding dossiers under Regulation 7/01. Drafted by us and defended through the CBA's rounds.Reg. 7/01 dossiers. Defended in rounds.
03
Branch structuring
For foreign CASPs: branch and representative-office permits. The entry route we scope against a full local licence, cold.Scoped up front against a full licence.
04
Substance and staffing
Directors, compliance and development hires from Yerevan's IT pool, office arrangements and payroll - assembled pragmatically.Yerevan hires, assembled pragmatically.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of crypto companies in Armenia.
No exotic layers. A moderate flat system with IT incentives on top, and no crypto-specific levies enacted.
Corporate tax 18%
The standard profit tax on platform and dealing margins, with ordinary deductions and loss carry-forward. One number, no municipal add-ons.One number, no add-ons.
Dividends 5%
Distributions carry 5%. A full company-to-pocket stack around 22.1%, competitive against most of the EU and clean to model.~22% full stack to the pocket.
Personal income tax 20%
A flat 20% on salaries and ordinary income - no progressive brackets, simple payroll for licensed teams.Simple payroll for teams.
No crypto-specific taxes
Armenia has enacted no separate crypto levy. Gains are taxed under general rules by taxpayer type. The new law regulates conduct, not taxation.General rules by taxpayer type.
IT incentives
Armenia's technology-sector regimes have offered reduced rates for certified IT companies. Development-heavy crypto businesses should be assessed against current incentives before structuring.Certified-company regimes - assessed first.
Treaties and simplicity
45+ double-tax treaties, digital filing and a compact administration. Compliance overhead stays small.Digital filing, compact admin.
Tax summary
Corporate tax18%
Dividends5%
Personal income tax20% flat
Crypto-specific taxesNone enacted
Standard VAT20%
Tax treaties45+
*Figures as of 2026. IT-incentive eligibility changes outcomes materially for development-heavy models. We assess it before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Armenian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, CBA-licensed business.
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Armenia · CBA
Launch your crypto project in Armenia with expert support.
Full-service assistance - from company registration to the CBA licence and ongoing compliance.
Get a consultation →Free legal opinion
Is Armenia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Armenian crypto licence - the questions we hear.
What licence does a crypto business need in Armenia?+
A crypto-asset service provider licence from the Central Bank of Armenia under the Law on Crypto-Assets, in force since 4 July 2025 - covering trading platforms, exchange, dealing, custody, advice and portfolio management.
How new is the regime, really?+
The law took effect 4 July 2025 and the CBA's Regulation 7/01 on registration and licensing followed at the end of 2025, effective early 2026. The register is forming now - that is the point of entering early.
What is the transition deadline?+
Firms already providing crypto services must obtain their licence by 31 January 2027 or cease operations - after which the market belongs to licence-holders.
Can a foreign company enter without a full local build?+
Yes - the framework provides branch and representative-office permits for foreign crypto-asset service providers, a route most new regimes omit. We scope it against a full local licence up front.
What are the core requirements?+
An Armenian JSC or LLC, authorised capital deposited in a non-affiliated Armenian bank, CBA approval of qualifying shareholders, fit-and-proper management, a three-year business plan for the relevant services, and an annual state duty.
How long does licensing take?+
The desk is new, so practice is forming - we plan 4-8 months for complete files, with early applicants effectively setting the precedents. Timelines are fixed in writing after scoping.
How are crypto companies taxed?+
18% corporate tax, 5% on dividends, 20% flat personal income tax and 20% VAT with financial-service treatment where applicable - no crypto-specific levies enacted.
Is there an IT-sector angle?+
Yes - Armenia has run reduced-rate regimes for certified technology companies, and development-heavy crypto businesses often overlap. Eligibility is assessed before structuring; it materially changes the model.
Does the Armenian licence give EU access?+
No - there is no passport into the EU. Armenia is a regional base with a clean new framework; groups needing licensed EU reach pair it with a MiCA CASP, and we run both tracks.
Why Armenia rather than Georgia or Kazakhstan?+
Georgia is lighter and cheaper; the AIFC is more institutional and more expensive. Armenia sits between: a full statutory licence from a respected central bank, a forming register with first-mover room, and the region's only branch route for foreign firms. For groups that want a real licence without AIFC economics, it is the sensible middle.
What licence is needed?+
CBA CASP licence under the 2025 law.
How new?+
Law 4 Jul 2025; rules early 2026; register forming.
Transition?+
Incumbents licensed by 31 Jan 2027.
Foreign entry?+
Branch and rep-office permits exist.
Core requirements?+
JSC/LLC, bank-held capital, vetted holders, plan.
How long?+
4-8 months expected; early files set precedent.
Company taxes?+
18% CIT; 5% dividends.
IT angle?+
Reduced-rate regimes - assessed before structuring.
EU access?+
No passport - pair with MiCA if needed.
Why Armenia?+
A real licence between Georgia's lightness and AIFC cost.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Armenian route fits your project and what it will cost.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Central Bank of Armenia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.