Update-2025-July-en

LEGAL UPDATE

July 2025

1. On making additions and amendments to the Tax Code of the Republic of Armenia

1. On making an amendment to the Law of the Republic of Armenia on State Duty regarding individual licenses.

2. On making an amendment to the Law of the Republic of Armenia on Licensing regarding individual licenses.

3. On establishing the procedure for professional monitoring of compliance with the rules of proper
pharmacovigilance activities and the recognition of monitoring reports from competent authorities
of other countries.

4. On the procedure for professional monitoring of compliance with the rules of good laboratory
practice and the issuance of a certificate of good laboratory practice, as well as on the
establishment of the list of necessary documents.

2. On amending the Law "On Non-Cash Transactions" regarding crypto-assets.

3. On Amendments and Supplements to the Law "On Securities Market".

4. On Amendments to the Law "On Currency Regulation and Currency Control" .

5. On Amendments and Supplements to the Law "On Joint Stock Companies".

6. On Amendments and Supplements to the Law "On Banks and Banking Activities" .

7. On Amendments and Supplements to the Law "On Licensing".

8. On Amendments and Supplements to the Tax Code.

9. On Amendments and Supplements to the Law "On Investment Funds".

10. On Amendments and Supplements to the Law "On State Duty".

11. On Amendments and Supplements to the Law "On Combating Money Laundering and the Financing of Terrorism".

12. On making additions and amendments to the Civil Code of the Republic of Armenia.

1. On Amendments to the Law "On Control over the Export of Dual-Use Goods, Their Transit Through the Territory of the Republic of Armenia, as Well as the Transfer of Dual-Use Information and Results of Intellectual Activity".

PART VI. TRADE AND SERVICES SECTOR

1. On Amendments and Supplements to the Law "On Trade and Services".

PART VII. PROTECTION OF ECONOMIC COMPETITION SECTOR

1. On Amendments and Supplements to the Law "On Protection of Economic Competition"..... 35 2. On Amendments and Supplements to the Law "On Protection of Consumer Rights".

PART I. TAX SECTOR

(This section of legal news includes legal news related to the tax sector for July 2025)

1. On making additions and amendments to the Tax Code of the Republic of Armenia

Name of the legislative act

Law No. HO-72-N on Amendments and Supplements to the Tax Code of the Republic of Armenia https://www.arlis.am/hy/acts/205201

Change status:

The amendments to this Law entered into force on July 1, 2025.

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of the adoption of this Law, a change has been made to the Tax Code of the Republic of Armenia.

What do the changes concern?

The amendments concern the establishment of new regulations for certain types of economic activity. In particular, it is stipulated that entities providing legal, accounting, management consulting services, labor supply activities, as well as those organizing inter-regional and intra-regional passenger transportation are subject to special control or regulation in accordance with the procedure established in the Code.

In Article 254 of the Code, Part 3 shall be supplemented with the following paragraph 3.1:

"3.1) Those carrying out activities in the categories "69. Legal and accounting activities", "70. Head office activities: management consultancy services" included in the "M (EM) Professional, scientific and technical activities" section of the classifier of types of economic activities used in the Republic of Armenia and "78.2. Temporary employment activities", "78.3. Other employment activities" included in the "N (EN) Administrative and support activities" section."

To supplement Part 5 of Article 267 of the Code with the following content, paragraphs 2.1 and 2.2:

"2.1) Those carrying out activities in the categories "70. Head office activities: management consultancy services" included in the "M (EM) Professional, scientific and technical activities" section of the classification of types of economic activities used in the Republic of Armenia and "78.2. Temporary employment activities", "78.3. Other employment activities" included in the "N (EN) Administrative and support activities" section.

2.2) those engaged in the operation of inter-regional and intra-regional routes or the organization of passenger transportation by buses (minibuses) on inter-regional and intra-regional routes.".

PART II: HEALTH SECTOR

(This section of legal news includes legal news related to the healthcare sector for July 2025)

1. On making an amendment to the Law of the Republic of Armenia on State Duty regarding individual licenses

Name of the legislative act:

On Amendments to the Law "On State Duty" HO-165-N Law https://www.arlis.am/hy/acts/192563

Change Status:

This Law entered into force on July 1, 2025.

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of the adoption of this Law, a change was made to the RA Law "On State Duty"

What do the changes concern?

According to the amendments, it is now envisaged that the fee for issuing an individual license in the healthcare sector will now be six thousand AMD, and the fee for a transitional individual license will be thirty thousand AMD. This law shall enter into force on July 1, 2025.

Section "2. HEALTH SECTOR" of Article 19 of the Law HO-186 of December 27, 1997 "On State Duty" shall be supplemented with the following content, sub-paragraphs 2.8.1-2.8.3:

"2.8.1. For obtaining an individual license (except for senior medical personnel holding military positions in the Armed Forces of the Republic of Armenia, the National Security Service, the Police and the Rescue Service operating under the Ministry of Internal Affairs) in the amount of six times the base duty.

2.8.2. For obtaining a transitional individual license (except for persons studying at institutions providing postgraduate military medical training) in the amount of three times the base duty. 2.8.3. For the extension of the validity period of the license specified in sub-clause

2.8.1, a state fee of the same amount as that provided for the given license shall be charged

2. On making an amendment to the Law of the Republic of Armenia on Licensing regarding individual licenses.

Name of the legislative act

On Amendments to the Law " On Licensing " HO-16 6 -N Law https://www.arlis.am/hy/acts/192562

Change status:

This Law entered into force on July 1, 2025.

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of the adoption of this Law, a change has been made to the RA Law "On Licensing"

What do the changes concern?

According to the amendments, it is now envisaged that the performance of professional activities in the healthcare sector by an individual on the basis of an individual license or a transitional individual license is considered a licensing activity and is subject to licensing in accordance with the procedure provided for by the Law on Licensing. This Law shall enter into force on July 1, 2025.

"3. HEALTH SECTOR" of the table of part 2 of Article 43 of the Law HO-193 of May 30, 2001 "On Licensing " with the following content, point 3.1:

3.1

Carrying out professional activities by a natural person on the basis of an
individual license or a transitional individual license

1. On establishing the procedure for professional monitoring of compliance with the rules of proper pharmacovigilance activities and the recognition of monitoring reports from competent authorities of other countries

Name of the legislative act:

On establishing the procedure for professional monitoring of compliance with the rules of proper pharmacovigilance activities and the recognition of monitoring reports of competent authorities of other countries Government of the Republic of Armenia 26.06.2025 N 874-Decree https://www.arlis.am/hy/acts/208930/print/act

The status of the legislative act:

This Law entered into force on July 10, 2025.

What do the changes concern?

We would like to inform you that the procedure for professional monitoring of compliance with the rules of proper pharmacovigilance practice (PVP) of the pharmacovigilance system by drug registration certificate holders has come into force.

The Order regulates the relations related to the professional monitoring of the pharmacovigilance system of holders of registration certificates for medicines registered on the basis of the Law "On Medicines".

Monitoring of medicines registered within the EAEU is carried out in accordance with the rules approved by the Decision of the EAEU Council No. 83 of November 3, 2016. The concepts used in the Regulation are interpreted in accordance with Part 2 of Article 17 of the Law "On Medicines" and the GMP rules established by the authorized body of the healthcare sector of the Republic of Armenia.

The monitoring is carried out to assess the compliance of the pharmacovigilance system of the marketing authorisation holder, i.e. the applicant. It is carried out at the place of activity of the qualified or responsible person, on a planned or unplanned basis, in accordance with paragraphs 148-155 of the GMP rules. The monitoring is carried out by the expert organization in the field of state regulation of drug circulation, which was established by the RA Government Resolution No. 1122-N of July 18, 2024. It is also provided that the organization is obliged to carry out the monitoring, ensuring compliance with the requirements of the quality management system.

1. This procedure regulates the relations related to the professional monitoring of the compliance of the holders of registration certificates of medicines registered in accordance with the Law "On Medicines" (hereinafter referred to as the Law) with the rules of proper pharmacovigilance activity of the pharmacovigilance system (hereinafter referred to as monitoring). Professional monitoring of the compliance of medicines registered within the framework of the Eurasian Economic Union with the rules of proper pharmacovigilance activity is carried out in accordance with the Rules for the implementation of pharmaceutical monitoring approved by the Resolution of the Council of the Eurasian Economic Commission No. 83 of November 3, 2016.

2. The concepts used in this Regulation shall be applied within the meaning of the “Pharmacovigilance Practices” (PVP) rules established by the authorized state administration body in the field of healthcare of the Republic of Armenia (hereinafter referred to as the authorized body) in accordance with Part 2 of Article 17 of the Law.

3. The monitoring is carried out in order to assess the compliance of the pharmacovigilance system of the registration certificate holder (hereinafter referred to as the applicant) with the GMP rules, at the place of operation of the qualified person or responsible person (including those performing work on a contractual basis), in a planned or unplanned manner determined in accordance with paragraphs 148-155 of the GMP rules.

4. The monitoring is carried out by the expert organization in the field of state regulation of drug circulation (hereinafter referred to as the organization) established by the Resolution of the Government of the Republic of Armenia No. 1122-N of July 18, 2024.

5. In accordance with Article 17, Part 12 of the Law, the costs associated with the inspection (including business trips) shall be reimbursed by the holder of the registration certificate, based on an agreement concluded between the parties in accordance with the procedure prescribed by law.

6. The organization carries out monitoring to ensure compliance with the requirements of the quality management system.

4. On the procedure for professional monitoring of compliance with the rules of good laboratory
practice and the issuance of a certificate of good laboratory practice, as well as on the
establishment of the list of necessary documents

Name of the legislative act:

Professional monitoring of compliance with the rules of good laboratory practice and the issuance of a certificate of good laboratory practice, as well as on the establishment of the list of necessary documents Decision No. 875-N

https://www.arlis.am/hy/acts/208920

The status of the legislative act:

This Law entered into force on July 10, 2025.

What do the changes concern?

We inform you that has entered into force On the procedure for professional monitoring of compliance with the rules of good laboratory practice and the issuance of a certificate of good laboratory practice, as well as on the establishment of the list of necessary documents Decision No. 875-N. The decision establishes the procedure for professional monitoring of compliance with the GMP rules (Appendix No. 1), the procedure for issuing a GMP certificate (Appendix No. 2), and the list of documents necessary for monitoring (Appendix No. 3). The procedure establishes the procedures for monitoring compliance with the GMP rules of preclinical studies conducted in the Republic of Armenia. The concepts used are interpreted in the context of Article 13 of the Law "On Medicines" and the rules established by the RA authorized healthcare body. The monitoring is carried out by the expert organization established by the RA Government Decision No. 1122-N of July 18, 2024. The costs of monitoring and related expenses (including business trips) are reimbursed by the applicant. The monitoring is carried out on the basis of a quality management system in accordance with international standards.

Based on Part 4 of Article 13 of the Law of the Republic of Armenia "On Medicines", the Government of the Republic of Armenia decides: 1. Define:

1) the procedure for professional monitoring of compliance with the rules of good laboratory practice, in accordance with Appendix N 1;

2) the procedure for issuing a certificate of proper laboratory operations, in accordance with Appendix N 2;

3) the list of documents necessary for conducting professional monitoring of compliance with the rules of good laboratory practice, in accordance with Appendix N 3. 2. This decision shall enter into force on the tenth day following the date of its official publication.

PROFESSIONAL OBSERVATION OF COMPLIANCE WITH THE RULES OF GOOD LABORATORY PRACTICE
1. GENERAL PROVISIONS

1. This procedure regulates the relations related to the professional monitoring of compliance with the rules of proper laboratory practice of preclinical research conducted in the Republic of Armenia (hereinafter referred to as monitoring).

2. The concepts used in this Regulation are applied in accordance with Article 13 of the Law "On Medicines" (hereinafter referred to as the Law), in the sense of the rules for proper laboratory practice (hereinafter referred to as GLP) established by the authorized state administration body in the field of healthcare of the Republic of Armenia.

3. According to Article 13, Part 2 of the Law, monitoring is the assessment of the compliance of preclinical studies with the rules of the GMP at the sites where the studies are conducted (including those performing work on a contractual basis).

5. Expenses related to the review (including business trips), in accordance with Article 13, Part 2 of the Law, shall be reimbursed by the applicant based on the contract concluded between the parties in accordance with the procedure prescribed by law.

6. Monitoring is carried out in accordance with the organization's quality management system in accordance with international standards.

PART III: WORKING SECTOR

(This section of legal news includes legal news related to the labor sector for July 2025)

1. On amendments and additions to the Labor Code regarding digital employment contracts

Name of the legislative act:

Law No. HO-525-N on Amendments and Supplements to the Labor Code of the Republic of Armenia

https://www.arlis.am/hy/acts/201313

Change status:

1. This Law shall enter into force on July 1, 2025, with the exception of Article 1, Part 1, Clause 4, Article 2, Part 1, Clauses 3 and 4, Article 3, Part 1, Clauses 2 and 3, Article 7, Part 1, Clauses 3-4 and 7 of this Law.

2. Article 1, Part 1, Clause 4, Article 2, Part 1, Clauses 3 and 4, Article 3, Part 1, Clauses 2 and 3, Article 7, Part 1, Clauses 3-4 and 7 of this Law shall enter into force on January 1, 2026.

3. Article 1, Part 1, Clause 3, Article 2, Part 1, Clause 2, Article 7, Part 1, Clause 5 of this Law shall be in force until January 1, 2026.

4. After January 1, 2026, within a twelve-month period, employers shall enter into the digital system the employment contracts of employees in employment relations with them (if the employment contracts were not concluded through the digital system) under the conditions in effect at the time of entry. The procedure for entering into the digital system the employment contracts concluded and continuing before the entry into force of this Law shall be determined by the Government.

5. Employment relationships that arose under an individual legal act on employment before this law entered into force shall continue under that legal act, and the provisions of the Labor Code of the Republic of Armenia shall apply to them.

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of the adoption of this Law, a change has occurred in the Labor Code of the Republic of Armenia.

What do the changes concern?

The amendments to this Law relate to the digitalization of labor relations. In particular, the law introduces a digital system of labor contracts, through which contracts can be concluded, amended and terminated with an electronic signature. It is established that the employer is obliged to provide the employee with a copy of the legal act on the termination or acceptance of the contract within three days, digitally or in another way. In the case of persons under the age of 16, the contract is signed by a parent or guardian. Appendices to labor contracts can also be concluded and transmitted electronically or by mail. State bodies (State Revenue Committee, Inspectorate, etc.) are given access to the data of the digital system for the purpose of exercising control.

To supplement Article 5 of the Labor Code of the Republic of Armenia of November 9, 2004 (hereinafter referred to as the Code) with the following content:

"4.1. After the individual legal act on termination of the employment contract is accepted through the digital system for concluding employment contracts, within three days, a copy of the act shall be sent to the employee by the notification method specified in the employment contract."

to be supplemented with the following content in section 4.2:

"4.2. If the individual legal act on termination of the employment contract is not adopted through the digital system for concluding employment contracts, then one copy of the act shall be given to the employee within three days after its adoption."

to supplement with the following content in section 4.3:

"4.3. In the cases specified in Part 4 of Article 13 of this Code, as well as in Part 2 of Article 14, one copy of the individual legal act on employment, as well as termination of the employment contract, shall be handed over to the employee within three days after its acceptance."

In Article 13 of the Code, add the following part 2:

2. The origin, modification and termination of employment relationships can also be carried out through a digital system.

to be supplemented with the following part 3:

3. The origin, modification and termination of employment relationships are carried out through a digital system, except for the cases specified in Part 4 of this Article, as well as in Part 2 of Article 14 of this Code.

In Article 14 of the Code, part 1 shall be supplemented with a new sentence with the following content:

"In the case specified in Part 4 of Article 13 of this Code, employment relations between an employee and an employer arise by a written employment contract concluded in accordance with the procedure prescribed by labor legislation or by an individual legal act on employment."

In Article 85 of the Code, add the following part 1.4:

1.4. Employment contracts with an electronic digital signature may be concluded through a digital system for concluding employment contracts. In this case, the employment contract is concluded by drawing up a single electronic contract with the electronic digital signature of the parties, and in the case of employment contracts concluded with employees under the age of sixteen, by drawing up a single electronic contract with the electronic digital signature of one of the parents or foster parents or adoptive parents or guardian. The employment contract enters into force on the day of its signing by the employer and the employee with an electronic digital signature through a digital system, unless a later date is specified in the contract.

to supplement parts 1.5 and 1.6 with the following content:

"1.5. The appendix to the employment contract is concluded in two copies, signed by the parties, and in the case of employment contracts concluded with employees under the age of sixteen, by drawing up a single document signed by the parents or foster parents or one of the adoptive parents or guardian, one copy of which is handed over by the employer to the employee within three days after the appendix is signed, and in the case of the emergence of employment relations with the participation of a person under the age of sixteen, to one of the parents or foster parents or adoptive parents or guardian.

1.6. The appendix to the employment contract may also be concluded by means of a connection providing postal or electronic communication, exchanging between the parties, which makes it possible to confirm the authenticity of the appendix to the employment contract and accurately determine that it is based on the employment contract. In the cases specified in this part, the party signing the appendix to the employment contract shall provide one copy of the appendix to the employment contract to the other party and, after signing it, shall receive it in one or more of the following ways:

1) by sending a signed copy of the appendix to the employment contract by registered mail with notification of receipt to the address or place of residence provided (specified) by the other party;

2) by sending a copy (facsimile reproduction) of the signed copy of the appendix to the employment contract via facsimile (telephoto) connection;

3) by sending a signed and electronically printed (scanned) copy of the employment contract appendix or a copy of the employment contract appendix with an electronic digital signature via a connection providing electronic communication (including by official e-mail as defined in the Law "On Public and Individual Notification via the Internet").

To supplement the Code with Chapter 13.1 with the following content:

"CHAPTER 13.1 DIGITAL SYSTEM FOR SEALING EMPLOYMENT CONTRACTS

Article 102.1. Digital system for concluding employment contracts and basic principles of application of the system

1. The digital system for concluding employment contracts (hereinafter referred to as the digital system) is a set of data, the purpose of which is:

1) ensure the conclusion (acceptance) and use of data on the employment contract or individual legal act on the termination of the employment contract, as well as amendments thereto, with the entry of data, as well as the possibility of downloading such data after entry;

2) to support the implementation of state control over compliance with labor legislation requirements.

2. The main principles of using the digital system are:

1) ensuring the effectiveness of supervision over compliance with labor legislation requirements;

2) access to the data available in the digital system at any time for the parties to the employment relationship who have the authority to use the digital system in accordance with the procedure established by this Code.

Article 102.2. Digital system management, data access, technical requirements and management procedure

1. The authorized body implementing the management of the digital system shall be established by the Government of the Republic of Armenia.

2. The inspection body is granted access to the data of the digital system in the exercise of supervisory functions in accordance with the procedure prescribed by law to the extent necessary for supervision over the requirements of labor legislation, other regulatory legal acts containing labor law norms, collective and employment contracts within the framework of the powers reserved by law.

3. The relevant departments of the State Revenue Committee of the Republic of Armenia are granted access to the data of the digital system to the extent necessary to formalize the employment of an employee in accordance with the procedure established by the legislation or to check the accuracy of submitting an application for registration for an employee, as well as to carry out tax control over the compliance of the income calculated and paid for the employee, calculated (paid) income tax, social and other mandatory payments within the framework of the authorities reserved by the legislation.

4. The Migration and Citizenship Service of the Ministry of Internal Affairs of the Republic of Armenia is granted access to the data of a foreign worker in the digital system to the extent necessary to ensure the course of administrative proceedings initiated based on applications submitted through the unified electronic platform for the involvement of a foreign worker https://workpermit.am.

5. In the digital system, the employer and the employee are given a window for accessing electronic data (personal page). In the event of the emergence of an employment relationship involving a person under the age of sixteen, access to electronic data is granted to the parent or foster parent or adoptive parent or guardian who signs the employment contract.

6. The requirements for the digital system, the procedures for providing access to the data of the digital system and concluding employment contracts through the digital system shall be established by the Government of the Republic of Armenia."

1. On the requirements for the digital system for concluding employment contracts, on providing
access to data in the digital system, on the procedure for concluding employment contracts
through the digital system, and on establishing the authorized body managing the digital system

Name of the legislative act:

On the requirements for the digital system for concluding employment contracts, providing access to the data of the digital system, the procedure for concluding employment contracts through the digital system and determining the authorized body managing the digital system, dated April 10, 2025 N 410-N

https://www.arlis.am/hy/acts/205500

The status of the legislative act:

Entered into force on July 1, 2025.

What does the Decision concern?

We inform all organizations and individuals operating in the labor sector that by the decision of the Government of the Republic of Armenia of April 10, 2025, a new procedure for concluding, amending and terminating employment contracts has been introduced through a digital system. This procedure stipulates that employment relations, the conclusion, amendment or termination of contracts, must be carried out exclusively on the electronic platform of the State Revenue Committee of the Republic of Armenia, by filling in the relevant fields and confirming them with electronic signatures by the parties.

The mentioned system allows to ensure a complete and automated process of signing, registering and transferring contracts to tax authorities, based on the regulations established by law. At the same time, access to data of the relevant state bodies - the State Revenue Committee, the State Tax Service and the Migration Service of the Ministry of Internal Affairs - is ensured within the framework of their powers. The order comes into force on July 1, 2025.

We urge all employers and parties regulating labor relations to prepare for the changes in a timely manner to exclude legal risks and ensure the implementation of the legal process.

Based on Parts 1 and 6 of Article 102.2 of the Labor Code of the Republic of Armenia, the Government of the Republic of Armenia decides:

1. To establish the requirements for the digital system for concluding employment contracts, the procedure for providing access to the data of the digital system and concluding employment contracts through the digital system, in accordance with the appendix.

2. The authorized body managing the digital system for concluding employment contracts is the State Revenue Committee of the Republic of Armenia.

3. After the adoption of this decision, until the entry into force of this decision, the Minister of Internal Affairs of the Republic of Armenia, the Head of the Health and Labor Inspection Body of the Republic of Armenia, together with the Chairman of the State Revenue Committee of the Republic of Armenia, shall establish procedural regulations for providing access to data in the digital system. 4. This decision shall enter into force on July 1, 2025.

Appendix

The Government of the Republic of Armenia's 2025

Decision No. 410-N of April 10.

REQUIREMENTS FOR A DIGITAL SYSTEM FOR SIGNING LABOR CONTRACTS, PROVIDING ACCESS TO DATA IN THE DIGITAL SYSTEM AND SIGNING LABOR CONTRACTS THROUGH THE DIGITAL SYSTEM

1. GENERAL PROVISIONS

1. This procedure establishes the requirements for the digital system for concluding employment contracts (hereinafter referred to as the digital system), regulates the relations related to providing access to data in the digital system and concluding employment contracts through the digital system.

2. The origin, modification and termination of employment relationships are carried out through a digital system, except for the cases specified in Part 4 of Article 13 of the Labor Code of the Republic of Armenia, as well as Part 2 of Article 14.

2. REQUIREMENTS FOR THE DIGITAL SYSTEM, SIGNING OF EMPLOYMENT CONTRACTS THROUGH THE DIGITAL SYSTEM

3. The employer or his representative (hereinafter referred to as the employer) shall conclude the employment contract, draw up the agreement on amending or supplementing the employment contract, and the individual legal act on terminating the employment contract (hereinafter referred to as the document) through the relevant page of the Electronic Reporting System of the State Revenue Committee of the Republic of Armenia, filling in the necessary fields.

4. The document drawn up after the action provided for in paragraph 3 of this procedure shall be signed with the employer's electronic digital signature.

5. The document signed by the employer is reflected on the corresponding page of the Unified Platform of Electronic Services for Individuals of the State Revenue Committee of the Republic of Armenia, after which the system automatically sends a notification to the email address of the person being hired.

6. Citizens of the Republic of Armenia access the digital system through the "I am" national identification platform, and foreigners - through the taxpayer registration number (TIN) and the login and password provided by the State Revenue Committee of the Republic of Armenia.

7. If the person being hired (employee) agrees with the content of the employment contract or the agreement on amending or supplementing the employment contract, he/she shall sign the employment contract or the agreement on amending or supplementing the employment contract with an electronic digital signature no later than the working day preceding the effective date provided for therein.

8. For citizens of the Republic of Armenia, an electronic digital signature embedded in an identification card or a mobile electronic digital signature is used in accordance with the requirements set forth in the Resolution of the Government of the Republic of Armenia No. 572-N of May 25, 2017, and for foreigners, other electronic digital signature solutions (including, but not limited to, the CoSign electronic signature type) are used in accordance with the requirements set forth in the Resolution of the Government of the Republic of Armenia No. 285-N of March 1, 2018.

9. After the employment contract enters into force, based on the information contained in the employment contract, a registration application for a newly hired employee (application for registration of the employee's personal data) is automatically generated through a digital system, which automatically reflects the personal information contained in the employment contract and included in the registration application.

10. The registration application formed automatically by employers is submitted to the tax authority by the end of the working day on which the registration application was formed, also filling in the information included in the registration application that is not included in the employment contract.

11. A registration application is automatically generated through the digital system also in the event that the employer draws up an individual legal act upon termination of the employment contract.

12. The following fields shall be filled in the employment contract:

1) contract number*.

2) the place of conclusion of the contract *.

3) Date of signing the contract (the date of signing by the employee with an electronic digital signature - filled in automatically)*.

4) Employer's tax identification number and name (first name, last name, patronymic in the case of an individual employer)*.

5) employee's name, surname, patronymic*.

6) the employee's public service number or the reference number of the absence of a public service number, except if the employee is a foreign citizen or stateless person without residence status in the Republic of Armenia and will not actually be in the Republic of Armenia.

7) the employee's passport or identification card details (in the case of a foreign employee, also the details of the document confirming the right of residence or legal stay);

8) Place of work *.

9) the structural or separate subdivision or office or institution of the employer (if any) where the employee will work;

10) Year, month, date of commencement of work *.

11) Position title*.

12) job functions or a reference to the document defining the functions arising from the position, which is an annex to the employment contract*.

13) the amount of the basic salary (including taxes paid from the salary, social or other mandatory payments prescribed by law)*.

14) the method of determining the salary *.

15) supplements, bonuses, and additional payments provided to employees in accordance with the procedure established by the legislation of the Republic of Armenia*.

16) type of employment contract (indicate indefinite or fixed term)*. In the case of a fixed term employment contract, also indicate the term of validity of the contract*.

17) in case of establishing a probationary period , the duration and conditions of the probationary period;

18) working hours*.

19) weekly working hours (excluding cumulative working hours)*.

20) type of annual leave (minimum, additional, extended) and duration*.

21) position, name, surname* of the person signing the employment contract.

22) methods of notification by the employer and employee to each other in connection with employment relations*.

23) rights and obligations of the parties ;

24) a note about the appendix, if the employment contract has an appendix, also indicating the scope of issues regulated by the appendix;

25) other conditions.

13. The items marked with an asterisk in paragraph 12 of these regulations are mandatory.

14. Employment contracts signed with persons performing civil work and providing technical services in state and local self-government bodies, as well as with experts engaged by state bodies for the implementation of individual tasks, agreements on amending or supplementing the employment contract, and individual legal acts on terminating the employment contract are automatically transferred from the civil service information platform to the digital system through the interoperability platform of the Government of the Republic of Armenia.

15. Clause 14 of this Procedure also applies to employment relationships arising with persons holding public positions and public service positions, if the personal affairs of these persons are conducted electronically in accordance with the procedure established by Part 2 of Article 17 of the Law "On Public Service".

3. PROVIDING ACCESS TO DIGITAL SYSTEM DATA

16. Access to the digital system is provided to:

1) To the relevant subdivisions of the State Revenue Committee of the Republic of Armenia, to the extent necessary to formalize the employment of an employee in accordance with the procedure established by the legislation or to verify the accuracy of the submission of a registration application for an employee, as well as to carry out tax control over the compliance of the income calculated and paid for the employee, the calculated (paid) income tax, social and other mandatory payments within the framework of the authorities reserved by the legislation.

2) The Health and Labor Inspection Body of the Republic of Armenia, to the extent necessary for supervision over the requirements of labor legislation, other regulatory legal acts containing labor law norms, and collective and employment contracts within the framework of the powers reserved by the legislation;

3) The Migration and Citizenship Service of the Ministry of Internal Affairs of the Republic of Armenia, in the volume necessary to ensure the course of administrative proceedings initiated based on applications submitted through the unified electronic platform for the involvement of a foreign worker https://workpermit.am.

17. The bodies specified in paragraph 16 of this Regulation shall be provided with access to the following documents, signed through a digital system:

1) employment contracts;

2) agreements on amendments or supplements to the employment contract;

3) individual legal acts on termination of the employment contract.

PART IV. CRYPTOASSETS SECTOR

(This section of legal news includes legal news related to the crypto-asset sector as of July 2025)

1. RA Law on Cryptoassets

Name of the legislative act:

RA Law on Cryptoassets HO-159-N
https://www.arlis.am/hy/acts/208599/latest

The status of the legislative act:

This Law entered into force on July 4, 2025.

What do the changes concern?

We would like to inform you that the RA Law "On Cryptoassets" has been adopted, which regulates the implementation of activities in the cryptoasset market in the Republic of Armenia. The new law aims to ensure the protection of customer rights, market transparency, and the reduction of systemic risks. The law defines:

- the procedure for issuing, offering and buying and selling crypto assets,

- Types and conditions of provision of services with crypto assets,

- as well as the regulatory and supervisory functions of the Central Bank in this sector.

The law also identifies cases to which it does not apply, for example, if the crypto-asset is inherently considered a security, bank deposit, insurance certificate, or cannot be transferred to another person. It is envisaged that crypto-asset service providers will be subject to licensing in some cases, with the Central Bank acting as the supervisory authority. All individuals and organizations involved in the crypto-asset market or planning such activities are advised to carefully study the provisions of the law to ensure legal compliance.

ABOUT CRYPTO ASSETS

PART 1

GENERAL PROVISIONS

CHAPTER 1

GENERAL PROVISIONS

The main objectives of this law are to protect the rights and legitimate interests of customers and purchasers of crypto-assets in the crypto-asset market of the Republic of Armenia, to ensure fair and transparent operation of the crypto-asset market, and to reduce systemic risks in the crypto-asset market.

Article 1. Subject matter and scope of the law

1. This law regulates the relations related to the implementation of activities in the crypto-assets market of the Republic of Armenia and defines:

1) the procedure for the public offering and purchase and sale of crypto assets ;

2) types of crypto-asset services (hereinafter also referred to as crypto-asset services), as well as the procedure for their provision and implementation;

3) the powers and responsibilities of the Central Bank in the field of regulation and supervision of the cryptoasset market;

4) liability for violation of the requirements of this Law, regulatory legal acts adopted on its basis, and other legal acts.

2. The cryptoasset market of the Republic of Armenia includes persons issuing and offering cryptoassets in the territory of the Republic of Armenia, persons providing services with cryptoassets subject to licensing under this Law, and persons acquiring cryptoassets through persons offering or providing services with cryptoassets subject to licensing under this Law in the territory of the Republic of Armenia.

3. The provisions of this Law do not apply to crypto-assets that meet the definition of a security or derivative financial instrument within the meaning of the Law on Securities Market, the relations related to which are regulated by the Law on Securities Market.

4. The provisions of this Law do not apply to crypto-assets that meet the definition of a fund unit or share within the meaning of the Law on Investment Funds, the relations related to which are regulated by the Law on Investment Funds.

5. The provisions of this Law do not apply to crypto-assets that meet the definition of a bank deposit or bank deposit agreement within the meaning of the Law "On Banks and Banking Activities", the relations related to which are regulated by the Law "On Banks and Banking Activities".

6. The provisions of this Law do not apply to crypto-assets that meet the definition of an insurance contract or certificate within the meaning of the Law "On Insurance and Insurance Activities", the relations related to which are regulated by the Law "On Insurance and Insurance Activities".

7. The provisions of this law do not apply to the following entities if they act as issuers or provide services with crypto assets:

1) On the Republic of Armenia, the Central Bank, and the communities of the Republic of Armenia.

2) The International Monetary Fund, the European Central Bank, the European Investment Bank, other international organizations of which the Republic of Armenia is a member, as well as other international organizations included in the list established by the Board of the Central Bank.

8. The provisions of this law do not apply to crypto-assets that:

1) are inherently unique (each has unique characteristics) and are not interchangeable, or

2) it is technically impossible or prohibited by law or the terms of issue to transfer it to another person;

3) issued by central banks or other national banks.

9. For the purposes of paragraph 1 of Part 8 of this Article, a cryptoasset shall not be considered unique or nonfungible if such cryptoasset has been offered in separate parts.

10. The provision of services with crypto assets is not regulated by the provisions of this law if they are provided:

1) only legal entities belonging to the same group or

2) within the scope of activities carried out by the liquidation committee, and in case of insolvency, by the temporary administration."

2. On amending the Law "On Non-Cash Transactions" regarding crypto-assets

Name of the legislative act :

Law No. HO-160-N on Amendments to the Law "On Non-Cash Transactions"
https://www.arlis.am/hy/acts/208570/latest

Change status :

The amendment to this Law entered into force on July 4, 2025

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of this amendment, a change has been made to the RA Law "On Non-Cash Transactions"

What do the changes concern?

We would like to inform you that an amendment has been made to the Law "On Non-Cash Transactions", whereby the concept of "person providing services with crypto assets" has been included among the main terms used in the law.

In particular, Article 3, Part 1 of the law has been supplemented with Point 19, according to which:

"person providing services with crypto-assets " is used with the meaning as defined in the Law "On Crypto-Assets".

This amendment ensures uniformity in the use of terms in various laws and clarifies that the provision of services with crypto assets is also included in the legislative framework of non-cash transactions.

It is recommended that legal entities and individual entrepreneurs who will carry out or are already carrying out functions related to crypto assets consider the formulation of functions in accordance with the procedure established by law and, if necessary, obtain professional legal assistance.

To supplement Part 1 of Article 3 of the Law HO-12-N of January 18, 2022 "On Non-Cash
Transactions" with the following paragraph 19:

Article 3. Basic concepts used in the law

1. The following basic concepts are used in this law:
19) a person providing services with crypto assets, within the meaning of the Law "On Crypto Assets".

3. On Amendments and Supplements to the Law "On Securities Market"

Name of the Legislative Act:

of the Republic of Armenia No. HO-163-N of 29.05.2025 on Amendments and Supplements to the Law "On Securities Market"

https://www.arlis.am/hy/acts/208588

Change Status:

The amendment to this Law entered into force on July 4, 2025.

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of this amendment, a change was made to the RA Law "On Securities Market"

What do the changes concern?

We would like to inform you that numerous amendments have been made to the laws , which are aimed at integrating the provisions of the Law "On Cryptoassets" into the current legislation regulating the financial market. these changes: From now on, qualified investors are also considered investment fund managers and persons providing services with crypto assets. Market operators and the Central Depository may also provide services related to cryptoassets, provided they comply with the conditions set forth in relevant laws and CB acts. Special requirements have been established in cases where we are dealing with the custody, settlement, or operation of a market for securities with crypto-asset characteristics. The Central Bank has been granted the authority to establish exceptions or other procedures through its regulatory acts, taking into account decentralized ledger technology It has been established that the Central Bank has the right to apply punitive measures in case of violation of regulatory acts of the crypto-asset market. These changes are particularly important for companies, investment service providers, market operators and custodians that wish to or already carry out activities related to the crypto-asset market . We recommend that you review your organization's internal policies and internal acts to align them with the new legislation, and, if necessary, obtain legal advice to ensure the correct application of the new norms.

In subparagraph “a” of paragraph 23 of Article 3 of the Law HO-195-N of October 11, 2007 “On the Securities Market” (hereinafter referred to as the Law), the words “and investment fund managers” shall be replaced with the words “, investment fund managers and persons providing services with cryptoassets”.

Article 3. Basic concepts used in the law

For the purposes of this law:

Old version.

23) Qualified investors are considered to be: a. investment companies, branches of foreign investment companies, banks, credit organizations, insurance companies, investment and pension funds, and investment fund managers , as well as legal entities registered in a foreign country that, in accordance with the legislation of that country, have the right to carry out the activities of any person defined in this subparagraph

New version.

23) Qualified investors are considered to be: a. investment companies, branches of foreign investment companies, banks, credit organizations, insurance companies, investment and pension funds, investment fund managers and persons providing services with crypto assets , as well as legal entities registered in a foreign country that, in accordance with the legislation of that country, have the right to carry out the activities of any person defined in this subparagraph.

In Article 28 of the Law, the title shall be amended as follows and part 1.1 shall be supplemented with the following content:

Article 28. Investment companies and additional services provided by them

1.1. Investment companies have the right to provide crypto-asset services defined in paragraphs 1-9 of Part 1 of Article 16 of the Law "On Crypto-Assets" in accordance with the procedure established by the Law "On CryptoAssets" and regulatory legal acts adopted on its basis.

In Article 103 of the Law, add the following parts 5.1 and 5.2:

Article 103. Activity license

5.1. The Operator has the right to provide the service of operating a crypto-asset trading platform defined in Article 16, Part 1, Clause 1 of the Law "On Crypto-Assets" in accordance with the procedure established by the Law "On Crypto-Assets" and the regulatory legal acts adopted on its basis.

5.2. In addition to the requirements set forth in this Law for the activities of a market operator, the requirements set forth in Parts 3-6 and 12 of Article 51 of the Law on Cryptoassets shall apply to the activities of a market operator in relation to securities that meet the definition of a “cryptoasset” as defined in the Law on Cryptoassets. The Central Bank may, by its regulatory legal acts, establish a different procedure for applying the requirements of this Chapter in relation to securities that meet the definition of a “cryptoasset” as defined in the Law on Cryptoassets or exceptions to the requirements set forth in this Law, including based on the specifics of decentralized ledger technology.

In Article 175 of the Law, add the following part 2.1:

Article 175. Central Depository

2.1. The Central Depository has the right to provide custody services defined in Article 16, Part 1, Clause 2 of the Law "On Cryptoassets" in accordance with the procedure established by the Law "On Cryptoassets" and the regulatory legal acts adopted on its basis.

To supplement the law with the following content in Article 197.1:

Article 197.1. Specific requirements for the custody of securities that meet the definition of "cryptoasset"

1. In addition to the requirements set forth in this Law for the custody of securities, the requirements set forth in Article 52 of the Law on Cryptoassets shall apply to the custody of securities that meet the definition of a “cryptoasset” as defined in the Law on Cryptoassets. The Central Bank may, by its regulatory legal acts, establish a different procedure for applying the requirements of this Chapter or exceptions to the requirements set forth in this Law in relation to securities that meet the definition of a “cryptoasset” as defined in the Law on Cryptoassets, including based on the specificities of decentralized ledger technology.

Article 198 of the Law shall be supplemented with the following part 3:

Article 198. Securities settlement system

3. The Central Bank may, by its regulatory legal acts, establish a different procedure for applying the requirements of this Chapter or exceptions to the requirements provided for by this Law in relation to securities that meet the definition of “cryptoasset” as defined in the Law “On Cryptoassets”, including based on the specificities of decentralized ledger technology.

Article 209 of the Law shall be supplemented with the following part 4:

Article 209. Jurisdiction to apply measures of responsibility

4. For violation of the requirements of the legal acts regulating the crypto-asset market provided for in Article 2 of the Law "On Crypto-Assets", other regulatory legal acts adopted on their basis, including internal legal acts on the provision of services with crypto-assets, the Central Bank shall apply liability measures in accordance with the procedure established by the Law "On Crypto-Assets".

4. On Amendments to the Law "On Currency Regulation and Currency Control"

Name of the legislative act :

Law of the Republic of Armenia " On Currency Regulation and Currency Control " of 29.05.2025 N HO-164-N
https://www.arlis.am/hy/acts/208591

Change status :

The amendment to this Law entered into force on July 4, 2025

Which legislative act was amended by the adoption of the above-mentioned act:

As a result of this amendment, a change was made to the RA Law " On Currency Regulation and Currency Control".

What do the changes concern?

We would like to inform you that an amendment has been made to the Law "On Currency Regulation and Currency Control", whereby The list of possible payments in foreign currency has also been supplemented with elements related to the field of crypto assets. In particular, the Law now provides for the pricing of tokens attached to foreign currency, as defined in the Law on Crypto Assets, and payments upon their acquisition and redemption. It is recommended that organizations that conduct international settlements or investment transactions, including entities operating in the cryptoasset market, take this change into consideration.

In Article 6, Part 9 of the Law HO-135-N of November 24, 2004 "On Currency Regulation and Currency Control", after the words "payments (transfers) under repo agreements", add the words ", the quotation of tokens linked to foreign currency, payments upon their acquisition and redemption, as defined in the Law "On Cryptoassets".

Article 6. Conducting transactions in the currency of the Republic of Armenia in the Republic of Armenia:

Old version.

9. Payments of interest on foreign currency loans and deposits attracted in foreign currency provided in the territory of the Republic of Armenia, at the request of the borrower or depositor, payments on foreign currency bonds (including coupons), payments (transfers) on derivative financial transactions related to securities denominated in foreign currency, foreign currency or interest rates, as defined by the Law of the Republic of Armenia "On Securities Market", payments (transfers) on repo agreements may be made in the currency in which the obligation was assumed, except for cases specified by the Central Bank.

New version.

9. Payments of interest on foreign currency loans and deposits in foreign currency provided in the territory of the Republic of Armenia, at the request of the borrower or depositor, payments on foreign currency bonds (including coupons), payments (transfers) on derivative financial transactions related to a security denominated in foreign currency, foreign currency or interest rate as defined by the Law of the Republic of Armenia "On the Securities Market", payments (transfers) on repo contracts, the quotation of tokens linked to a foreign currency as defined by the Law "On Cryptoassets", payments upon their acquisition and redemption may be made in the currency in which the obligation was assumed, except for cases specified by the Central Bank.