of November 30, 2016 No. ZR-206
About entering of amendments into the Civil code of the Republic of Armenia
Accepted by National Assembly of the Republic of Armenia on November 17, 2016
Article 1. To add the civil code of the Republic of Armenia of May 5, 1998 (further – the Code) with Articles 59.1-59.3 of the following content:
"Article 59.1. Concept of redomitsilyation of the legal entity
1. Redomitsilyation of the legal entity is transfer of the legal entity from one jurisdiction (jurisdiction) in other jurisdiction therefore the personal law of the legal entity changes. Redomitsilyation is confirmed by the document of succession.
2. The commercial organizations can Redomitsilirovatsya. Non-profit organizations, except for batches, religious and public organizations, the state and municipal non-profit organizations, condominiums, and also the organizations which did not choose the form of business provided by this Code can Redomitsilirovatsya, or form of business of which cannot be replaced with the form of business chosen by them provided by this Code.
3. The legal entity can redomitsilirovatsya only if this opportunity is not prohibited by its charter.
4. Redomitsilyation of the legal entity is performed based on the decision of the competent authority established by the personal law of the legal entity, according to the procedure, established by the personal law.
5. Adjustments on redomitsilyation of legal entities do not extend to the organizations, licensed and controlled by the Central bank of the Republic of Armenia.
Article 59.2. Redomitsilyation of the foreign legal entity in the Republic of Armenia
1. The foreign legal entity can redomitsilirovatsya in the Republic of Armenia according to the procedure, established by the legislation of the Republic of Armenia, as a result of possession of the charter, to relevant requirements of the legislation of the Republic of Armenia, and the termination of registration in the foreign country as the legal entity of this country or registration of data on redomitsilyation.
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