Yerevan at a Glance
Working in Yerevan
The government has legislation in place to ensure employees are protected. Working hours are restricted to 40 hours a week and eight hours a day.
Overtime is strictly regulated and not encouraged for workers with families, the young, and the disabled. Any work taking place between 22:00 and 06:00 is regarded as night work, which falls under special regulations. There is also time for a holiday, with the minimum annual paid leave set at 28 days.
As the Armenian capital, Yerevan is host to a modern industrial sector, including manufacturing in chemicals, machinery, rubber products, textiles, food and alcoholic beverages (for example the Yerevan Brandy Company and the Yerevan Ararat Wine Company). The city is the destination for the headquarters of major Armenian companies and the hub of the financial sector, with the Central Bank of Armenia and the Stock Exchange situated in Yerevan.
Yerevan is also home to Cigaronne tobacco, three major rug and carpet factories, two hydro-electrical plants, oil and petroleum, and aluminum companies. So there are plenty of employment opportunities. However, expats may need to speak the official language, Armenian, in order to find a job.
Job Hunting in Yerevan
As a foreigner, finding a job in Yerevan can be a challenge. At the time of writing in early 2015, the official unemployment rate in Armenia was at 17.8%. Whilst the city is showing signs of recovery, following independence from the Soviet Union, the country’s economy has been struggling. On the plus side, professionals who can speak Armenian and are qualified experts in construction or healthcare are urgently required to help rebuild the country.
To command a high salary you will require a degree. Jobs are often posted on search engines and in classified newspaper advertisements. Expats have had success applying through certain job sites, including Job.am, Career Jet, and Ashxatanq. Networking through such sites as LinkedIn may also be advantageous.
Teaching English is possibly an easier option for employment and there are many websites that advertise Yerevan opportunities in schools. Expatriates can try ESL Employment, Total ESL, and ESL Café.
Income Taxation in Yerevan
An expat working in Yerevan has to pay income tax. An employer will withhold an employee’s income tax and pay it to the Ministry of Finance on a monthly basis. The tax must be paid within two business days following salary payment.
There are two bands of personal income tax. A worker will pay 10% on any monthly income up to 80,000 AMD and 20% for any income over 80,000 AMD. An additional 8,000 AMD will be charged for those earning 120,000–320,000 AMD a month.
If an expatriate is self-employed, they must determine an annual final tax on an annual tax return that must be submitted by the 1st March every year.