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LAW OF THE REPUBLIC OF ARMENIA

of June 18, 2011 No. ZR-193

About free economic zones

Accepted by National Assembly of the Republic of Armenia on May 25, 2011

(as amended of the Law of the Republic of Armenia of 10.10.2018 No. ZR-395)

New edition

Article 1. Subject of regulation of the Law

This Law governs the relations connected with creation, the organization and liquidation of free economic zones.

Article 2. Purpose of creation of free economic zones

Free economic zones are created for the purpose of contribution to social and economic development of the Republic of Armenia by investment attraction, creation of new workplaces, export stimulation.

Article 3. Legislation on free economic zones

1. In the Republic of Armenia the relations in the field of free economic zones are governed by the agreement of June 18, 2010 "About the questions connected with free (special, special) economic zones on customs area of the Customs union and customs procedure "free customs zone"" (further - the Agreement) and other international treaties, the agreement of April 11, 2017 "About the Customs code of the Eurasian Economic Union", entering the right of the Eurasian Economic Union (further - EEU), and the legislation of the Republic of Armenia on free economic zones.

2. The legislation of the Republic of Armenia on free economic zones consists of this Law, the Civil code of the Republic of Armenia, the laws and other legal acts governing the customs and tax relations.

Article 4. The basic concepts applied in the Law

1. The basic concepts applied in this Law are:

1) the free economic zone - the part of the territory of the Republic of Armenia established by the Government according to this Law based on initiative of the Government or private initiative where business and other activity is performed according to the features established by this Law, the Agreement and the Customs code of EEU and also can be applied customs procedure "free customs zone";

2) the organizer of the free economic zone (further - the organizer) - the legal entity created (founded) by the Government or chosen by the decision of the Government only for the purpose of the organization of the free economic zone who provides creation of necessary infrastructures and rendering services for implementation of activities in the free economic zone, and also other functions provided by this Law;

3) operating the free economic zone (further - operating) - the commercial organization registered, or the individual entrepreneur staying on the registry in the Republic of Armenia, performing business activity only in the free economic zone according to this Law, included in the register operating the free economic zone of the Republic of Armenia;

4) the applicant - the commercial organization registered, or the individual entrepreneur staying on the registry in the Republic of Armenia, who submitted the application for registration in the register operating the free economic zone of the Republic of Armenia;

5) authorized body - the state authorized body developing economic policy of the Government;

6) the commission - interdepartmental advisory unit concerning free economic zones, circle of powers and which structure are established by this Law, and procedure for forming and activities - the Government;

7) the register operating the free economic zone (further - the register operating) - the list operating this free economic zone of the Republic of Armenia which the decision of authorized body constitutes and conducts authorized body according to requirements of this Law;

8) start of the free economic zone - the beginning of operation of the free economic zone the decision of authorized body based on the conclusion of the commission;

9) the reporting - information on the investments made by the organizer in the free economic zone for the accounting period, the created workplaces, the rendered services involved operating and also other information about investing program and the course of accomplishment of contractual commitments of the organizer;

10) the initial investment declaration (further - the initial declaration) - the official announcement represented operating in the form and procedure established by the Government which is constituted on the basis of the business program and contains information on the announced investments, workplaces and production volumes in use distributed by years;

11) the next investment declaration (further - the next declaration) - the official announcement represented operating in the form and procedure established by the Government which contains information on the investments which are actually performed for this year of operation, the created workplaces and production volumes;

12) liquidation of the free economic zone - the termination of activities of the free economic zone according to the procedure, established by this Law.

Article 5. Creation of the free economic zone, conclusion of the agreement on the organization of the free economic zone, choice of the organizer

1. The free economic zone is created by the decision of the Government.

2. The decision of the Government on creation to the free economic zone shall include:

1) purpose, need and justification of localization of the free economic zone;

2) the description and borders of the territory, requirements imposed to the free economic zone and its borders. Requirements imposed to borders are established depending on functional type of the free economic zone and features of the activities performed in it according to article 6 of this Law;

3) functional type and types of activity, performed operating, on the qualifier of types of economic activity;

4) deadline of start of the free economic zone;

5) terms of functioning of the free economic zone;

6) investing program of creation of the free economic zone;

7) territory of application of customs procedure "free customs zone";

8) personal data of the organizer if the organizer is previously known;

9) reporting form;

10) procedure for inclusion of operating operating in the register;

11) forms of the expected state assistance.

3. The procedure for the choice of the organizer, and also submission of the reporting establishes the Government.

4. Criteria of the choice of the organizer are:

1) size, forms, direction and terms of investments of the organizer;

2) quantity of the workplaces created by the organizer;

3) the list and rates of the services rendered by the organizer;

4) the actions directed to the international recognition of the free economic zone and distribution of brand, including availability of marketing agreements, attraction operating the free economic zone, including the international brands, work on export promotion of the goods made in the free economic zone and the rendered services and expected results;

5) the expected forms of the state assistance;

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