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Armenia Introduces Beneficial Owner Registration Requirements for Subsoil Exploration and Mining — Orbitax Tax News & Alerts

On 1 July 2019, a law entered into force in Armenia requiring the registration of information on beneficial owners of companies engaged in subsoil exploration and mining activities in the country. Initial registration is required by 30 November 2019. Failure to register may result in penalties of up to AMD 300,000, as well as the potential revocation of operating licenses and the suspension of activities in the case of continued violation of the registration requirement.