About Anush Abrahamyan

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So far Anush Abrahamyan has created 51 blog entries.

Personal Income Tax Rates to Be Cut from 2020

Tax Rates Armenia will switch to a flat income tax rate starting from January 1, 2020. The adoption of the new tax reform package by Armenia’s parliament has been voted for by 73 MPs. Thirty-two lawmakers, among which were those of the opposition Prosperous Armenia party, voted against the government-backed amendments. The new tax code [...]

2019-09-19T06:56:20+04:00 September 19th, 2019|

Armenia to Sign Double Tax Treaties with Singapore and Malta, Mutual Investment Treaty with Korea

Picture from Texas ProtaxAccording to Arman Poghosyan, Deputy Minister of Finance of Armenia, an agreement eliminating double taxation between the Republic of Armenia and the Republic of Singapore shall be expected in the near future.In parallel, a Maltese delegation paid a first high-level visit to Armenia during which Foreign Affairs Minister Carmelo Abela met his [...]

2019-09-19T06:48:55+04:00 September 19th, 2019|

Residence Status Fees Lowered for U.S. Nationals

On March 29, 2019, the Armenian Government (Cabinet of Ministers) resolved to reduce the government fees for temporary (one-year) and permanent (five-year) residence permits for applicants holding the citizenship of the United States.  In particular, from now on the U.S. nationals will have to pay only AMD 85,000 (approx. $177) in government fees for temporary [...]

2019-09-19T06:32:28+04:00 September 19th, 2019|

5.2% Growth in Tourist Arrivals in Armenia in Three Months

The picture from Arka.am According to the report of the National Statistical Service, there was a growth in tourist arrivals in Armenia during the first three months of 2019. During the period of January to March 2019, 364,489 people visited Armenia. Compared to the same period last year, this number has increased by 5.2%, or [...]

2019-06-25T12:33:46+04:00 June 25th, 2019|

Interim Free Trade Zone Agreement Between Iran and EEU

The picture from Financial TribuneAccording the Minister of Economy of RA, Tigran Khachatrian, Iran is expected to sign an interimagreement on the creation of a free trade zone with the Eurasian Economic Union (EEU) later this summer.The National Assembly of Armenia approved in the first reading a draft law on ratification of the interim agreement [...]

2019-06-25T13:22:49+04:00 June 25th, 2019|

Real Estate Cadastre Value Revised in Armenia

The picture from SEJAccording to the head of Armenia’s State Real Estate Cadastre Committee, Sarkhat Petrosyan, the agency has started revising the cadastral value of real estate across the country. The process may result in a slight increase in the property tax. Petrosyan stated that the real estate tax is now calculated based on the rates [...]

2019-06-25T13:22:00+04:00 June 25th, 2019|

Law on Prohibiting Bookmakers’ Activities

  The amendments to the RA law on “Lotteries” were approved by the Armenian National Parliament. Starting from 2020, the activities of bookmakers will be prohibited in Yerevan. The amendments to the law were initiated by Alen Simonyan, as well as Sipan Pashinyan and Naira Zohrabyan. The bookmaker activities will be allowed in other cities [...]

2019-06-25T12:09:44+04:00 June 25th, 2019|

GEOSTAT: 164 GEL – New Subsistence Minimum

According to National Statistics Office of Georgia, Subsistence Minimum for an average employee in Georgia has increased to 185 GEL in April 2019. The same indicator, according to the same source, was 181,2 GEL in March. The Subsistence Minimum for an average consumer amounted 163,9 GEL in April. According to the methodology used by Geostat, [...]

2019-06-25T12:06:49+04:00 June 25th, 2019|

Free Visa Regime Between China and Armenia

During the meeting on May 23, the Government adopted the draft law on the approval of the proposal to sign an agreement between the Government of the Republic of Armenia and the People's Republic of China on free visa regime (mutual elimination of the visa requirement for persons holding regular passports of the countries). Deputy [...]

2019-06-25T12:02:18+04:00 June 25th, 2019|

6% Growth in Georgia’s Economy in March

The estimated real Gross Domestic Product (GDP) growth rate in March 2019 equaled 6.0 percent y/y compared to the results of GDP for Q1 2019 which was 4.7 percent y/y. The National Statistics Office of Georgia posted the activities which played a role in the increase of GDP: Trade, Transport, Other community, social and personal [...]

2019-06-25T11:45:30+04:00 June 25th, 2019|

Real Estate Development in Georgia

According to the National Statistics Office of Georgia (GeoStat) report of March 2019, there is market slowdown in construction and real estate development in Georgia. The slowdown has started in 2018, reaching 3.1% negative growth. In the Q1 of 2019, a total of 2,052 construction permits were issued for projects covering a total of 1,378,100 [...]

2019-06-25T11:43:00+04:00 June 25th, 2019|

Armenian Passport Ranking

The Armenian Passport Ranking is Improving/Increasing According to the Armenian Deputy Foreign Minister Grigor Hovhannisyan, the Armenian passport ranking is steadily increasing during the last 3-4 years. According to the Minister, Armenia is not far behind Georgia. The latter is ahead in view of the new preferential treatment with the EU. But I would like [...]

2019-06-25T00:55:00+04:00 June 25th, 2019|

Taxation of Armenian IT Startups

Tax Breaks Given to Armenian IT Startups On the 23rd of April, the Armenian Parliament has passed a set of amendments to the law "On State Assistance to the Information Technology Sector”, which gives tax breaks to Armenian IT startups with a string of tax breaks. The Minister of Transport, Communications and IT Hakob Arshakyan [...]

2019-06-25T00:52:32+04:00 June 25th, 2019|

Russian Tourists in Armenia

The Ambassador Assures that Armenia can Host up to 1.5 Million Russian Tourists Annually According to the Armenian Ambassador to RF Vardan Toganyan, Armenia is able to host up to 1.5 million Russian tourists annually.Almost half of foreign tourists visiting Armenia are citizens of Russia, the ambassador said. ‘Many tourists include our country on their [...]

2019-06-25T00:45:26+04:00 June 25th, 2019|

Double Taxation Agreement between Georgia and Saudi Arabia

Double Taxation Agreement between Georgia and Saudi Arabia Came into Force on 1st of April, 2019​ A double taxation avoidance agreement A double taxation avoidance deal signed between Georgia and Saudi Arabia in March 2018 has come into force on 1st of April, 2019. The enforcement of the agreement means that citizens or businesses working [...]

2019-06-25T00:36:49+04:00 June 25th, 2019|

IT Companies in Armenia

272 IT companies registered in Armenia in 2017​ According to the Deputy Minister of Transport, IT and Communication, Gegham Vardanyan, the law on tax preferences adopted in 2014 resulted on the sharp increase of number of Armenia-based IT companies. As he stated, in contrast to 2015 when 59 IT companies received certificates on tax preferences, [...]

2019-06-25T00:34:14+04:00 June 25th, 2019|

Georgian Passport (GIR)

Georgian Passport improved it’s rank in Global Index Rating According to 2019 Global Rating of Henley & Partners, Georgian passport has increased its rank, taking 49th place. The results of the index state that the citizens of Georgia can visit 114 countries without a visa or through simplified procedures. Georgia’s neighboring countries, Armenia, Azerbaijan, Turkey [...]

2019-06-25T00:31:05+04:00 June 25th, 2019|

Georgian Embassies in the UAE and Vietnam

According to the Prime Minister of Georgia, Mamuka Bakhtadze, Georgian embassies will be opened in the United Arab Emirates and Vietnam. As far as you know, Georgia's strategic and foreign policy priority is to make more effective integration of Georgia into the global economy. We see special potential in cooperation with Gulf countries, as well [...]

2019-06-25T00:23:04+04:00 June 25th, 2019|

Dual Citizenship to Georgian immigrants

Promise to Facilitate the Acquisition of Dual Citizenship to Georgian Immigrants Georgian immigrants living abroad still have problems obtaining Georgian citizenship. During her first speech in parliament as president Salome Zourabichvili stated this and said that this should be corrected. For immigrants, especially for the generation born abroad, the status of a citizen is important [...]

2019-06-25T00:18:47+04:00 June 25th, 2019|

Why Citizens of Iran and India are often not Allowed to Enter Georgia

Areshidze Explained Why Citizens of Iran and India are often not Allowed to Enter and Visit Georgia Political analyst Mamuka Areshidze explained the reasons what Iranian and Indian citizens want to visit Georgia for and why they are often not allowed to enter the country at the border by employees of the country's interior ministry. [...]

2019-06-25T00:14:18+04:00 June 25th, 2019|

Indian Investors in Armenia

EDI deputy minister of Armenia meets with Indian businessmen Deputy Minister of Economic Development and Investments of RA, Avag Avanesyan met a group of Indian businessmen. As stated in the report of the Ministry of Economic Development and Investments to NEWS.am, the Indian investors emphasized that they aim to invest in several sectors in Armenia, [...]

2019-06-25T00:09:34+04:00 June 25th, 2019|

Georgia and Fiji Visa Agreement

Georgia and Fiji Sign a Visa-Free Travel Agreement According to the report of the Embassy of Georgia in Australia, Georgia and Fiji signed an agreement, enabling the visa-free travel for the citizens of the two countries on March 6. The Deputy Minister of Foreign Affairs of Georgia, Aleksandre Khvtisiasvhili and the Minister of Defense, National [...]

2019-06-24T23:59:33+04:00 June 24th, 2019|

Unemployment Rate in Georgia

Georgia reached lowest unemployment rate reached for the last 15 years The annual unemployment rate in Georgia equaled 12.7% in the fourth quarter (Q4) of 2018. It is worth mentioning that Georgia reached the lowest unemployment rate since 2003. The decrease of the unemployment rate in Georgia has been in trend for the last nine [...]

2019-06-24T23:55:17+04:00 June 24th, 2019|

Georgia and Rule of Law

Georgia Rankings by WJP - 41 Out of 126 Countries on Rule of Law  The World Justice Project (WJP) released the WJP Rule of Law Index® 2019, an evaluation of rule of law adherence worldwide. The results are based on more than 120,000 household and 3,800 expert surveys in 126 countries. Featuring current, original data, the WJP [...]

2019-06-24T23:50:49+04:00 June 24th, 2019|

EU-Armenia Trade

EU-Armenia trade turnover increased by 19% European Union - Armenia trade turnover recorded a considerable growth last year, comprising to 1 billion 830 million 74 thousand dollars, with export growth of about 8%. The GSP+ privileged trading regime and the electronic product certification system has also contributed greatly to the intensification of trade-economic relations and [...]

2019-06-24T23:47:27+04:00 June 24th, 2019|

Travel for Ukrainian and Georgian Citizens

Ukrainian and Georgian citizens travel by ID cards to either country Starting from March 1, the initiative of Georgian and Ukrainian governments for passport-free regime for the citizens between the two countries comes into force. Ukrainian and Georgian citizens can travel to either country using only their ID cards and stay in the territory of [...]

2019-06-24T23:44:33+04:00 June 24th, 2019|

The Growth of Armenian Economy

The Growth of  Armenian Economy will be 4.5% in 2019 - IMF Forecast In 2019, the growth of Armenian economy will become slightly more restrained and will make 4.5%, said the head of the Armenian mission of the International Monetary Fund (IMF) Hossein Samiei. Hossein Samiei The head of the Armenian mission of the IMF. [...]

2019-06-24T23:37:01+04:00 June 24th, 2019|

10% Average Annual Increase in Property Prices in Armenia

According to the Cadastre Committee, about 16,270 real estate transactions were registered in Armenia in April 2019. The result is 28.9% more than in the same month last year. The source states that the largest number of transactions was registered in Yerevan (35.1%), and the smallest number in Vayots Dzor province (1.7%). The results of [...]

2019-06-15T18:17:48+04:00 June 12th, 2019|

The Most Sought-After Properties are in Kentron, Davitashen and Arabkir Districts of Yerevan

The Most Sought-After Properties are in Kentron, Davitashen and Arabkir Districts of Yerevan The prices of Armenian properties, especially in the capital Yerevan, are steadily increasing. The absolute record of prices is set by the "expensive" center, where the average price increased by US$211 (or 22%). Next are the districts of Davitashen (US$79 or 15%), [...]

2019-06-08T11:57:12+04:00 June 8th, 2019|

Apartments in Yerevan Grew in Value by 7.2% in 2018

Apartments in Yerevan Grew in Value by 7.2% in 2018 The average market price of one square meter of living space in multi-apartment buildings in Yerevan increased by 7.2% in 2018, according to the report of the Real Estate Cadastre Committee of Armenia. The highest prices were registered in the capital's Central district - 529,200 AMD/sq. [...]

2019-06-08T11:43:06+04:00 June 8th, 2019|

In 2018, Armenia’s Economy Grew by 5.2%

In 2018, Armenia's Economy Grew by 5.2% Armenian economic growth in 2018 was at 5.2%. According to preliminary data of the National Statistics Committee, the size of Armenia’s GDP over the past year amounted to 6,002.7 billion drams or about US$12.4 billion. The GDP growth in the first quarter was 9.9%, in the second - 7.4%, in [...]

2019-06-08T11:58:56+04:00 June 8th, 2019|

IMF Expects Armenian Economy to Grow by 4,5% in 2019

IMF Expects Armenian Economy to Grow by 4,5% in 2019 According to Reuters, Armenia’s economic growth forecast by the International Monetary Fund is 4.5%, lower than the 5.2% in 2018, reflecting the weaker global environment and lower copper prices. The Armenian government expects the growth rate to be 4.9 percent in 2019. According to Yulia [...]

2019-06-08T11:59:09+04:00 June 8th, 2019|

Yerevan Offers the Highest Quality of Living in the Region, ahead of Tbilisi and Baku

Yerevan Offers the Highest Quality of Living in the Region According to a study conducted by Mercer, Yerevan was ranked 170th in the 2019 Quality of Living ranking, leaving behind many cities in the region. Tbilisi, Georgia’s capital, ranked 187th and Azerbaijan’s capital Baku was the 190th. According to the study, the best city for living was [...]

2019-06-08T12:01:09+04:00 June 8th, 2019|

Number of Property Transactions in Armenia Grew by 15% in March 2019

The Number of Property Transactions Grew by 15% in March 2019. Prices Continue to Rise According to the official statistics, 15,213 property transactions were registered in March 2019. This number increased by 15.0% compared to February 2019, and by 6.7% compared to March 2018. According to the Real Estate Cadastre Committee, the average market price for [...]

2019-06-08T11:59:29+04:00 June 8th, 2019|

EDB. Economic Growth in Armenia will Reach 5.3% in 2019

Eurasian Development Bank (EDB) predicts 5.3% economic growth in Armenia for 2019. Andrey Petrosyan, Head of the Center for Integrated Research of the Bank, told journalists during the second Eurasian Media Congress. According to him, in 2015 when Armenia and Kyrgyzstan became members of the EAEU, the conditions for economic development were not favorable in [...]

2019-06-08T11:59:39+04:00 June 8th, 2019|

More Than 1,000 Applicants for Georgia Visa/Residency Used Fraudulent Documents

More Than 1,000 Applicants for Georgia Visa/Residency Used Fraudulent DocumentsThe State Security Service (SSS) of Georgia identified up to 1,200 people, who attempted to obtain visa or residency status in Georgia based on fraudulent documents, the SSS stated in its 2018 report to the Parliament. The SSS worked closely with the Ministry of Justice and the [...]

2019-05-19T09:13:15+04:00 May 19th, 2019|

Property Prices Increase in Tbilisi and Other Cities in Q4 2018

Real Estate Market Highlights for Q4 The statistics of real estate market for Q4 2018 shows that Sale Price Index (SPI) for residential properties increased to 6.2% quarterly (QoQ). In contrast, Rent Price Index (RPI) decreased by -7.3% (QoQ). Average Sale Price (ASP) varied between 871 USD and 913 USD per m2 (monthly average), and [...]

2019-05-19T08:51:07+04:00 May 19th, 2019|

Buying Property in Tbilisi Suburbs

Buying Property in Tbilisi Suburbs More and more dwellers of Tbilisi move from the center of the city to the outskirts. There are many advantages of buying property in Tbilisi suburbs.  The central part of Tbilisi is overpopulated with no sufficient green zones. Parking is also a big issue; there are many new high-rise buildings [...]

2019-05-19T08:31:15+04:00 May 19th, 2019|

Hong Kong Passport Holders Visiting Armenia

Visa free visit to Armenia for Hong Kong passport holders The Government of Armenia has made a decision to establish a visa-free regime for the holders of the passports of Hong Kong Special Administrative Region of China during the Cabinet meeting of Thursday. The new decision reassures the progress of Armenia-China relations and cooperation on [...]

2019-02-05T18:40:50+04:00 February 5th, 2019|

Georgia Ranked 51st in Henley Passport Index

Georgia Ranked 51st in Henley Passport IndexGeorgian passport is ranked 51st place in Henley Passport Index, a ranking of all the world’s passports based on the number of states the passport holder can visit with visa free regime.The index ranked 199 different passports and included 227 destinations. The way the Index calculates is the following: [...]

2019-02-05T18:43:36+04:00 February 5th, 2019|

Georgia Residence

Radical Changes in Residence Permit Rules Expected in Georgia. Changes to the Law on Legal Status of Aliens and Stateless Persons were confirmed by the Legal Affairs Committee of the Georgian Parliament. This was the second reading of the amendments in the Committee and the changes will be discussed at the plenary session of the [...]

2019-01-29T09:17:35+04:00 January 29th, 2019|

Record Number of Visitors to Georgia in 2018

Record Number of Visitors to Georgia in 2018Georgia has achieved another record in tourism industry. In 2018, international visitors crossed the country's border about 8.7 million times (increase of 10%). Among them about 4.8 million visitors were tourists, which is an increase of 17% over the past year.Georgia is visited mostly by the residents of [...]

2019-03-15T06:41:50+04:00 January 29th, 2019|

CIT and PIT Rates to Be Reduced in Armenia

Tax RatesCIT and PIT Rates to Be Reduced in ArmeniaAccording to the proposed amendments, Armenia will shift to a single averaged payroll tax rate of 23%, after which it is to gradually drop to 20% by 2023. Concurrently, the proposed changes would bring back the social payments (pension contributions) of 5%. The changes also call [...]

2019-03-15T06:45:38+04:00 January 22nd, 2019|

Georgia Visits by Iranian Nationals: Problems & Statistics

Georgia Visits by Iranian Nationals: Problems & StatisticsOn December 10, 2018, the Foreign Ministry of Iran advised Iranian citizens to refrain from traveling to Georgia, unless absolutely necessary. The Ministry explained that several citizens of Iran were treated ‘disrespectfully’ at the Georgian border. Earlier, on December 3, 2018, the Ministry stated that nearly 200 citizens of [...]

2019-03-15T06:38:18+04:00 January 22nd, 2019|

Thailand Offers 15-Day on Arrival Visas to Georgian Nationals

Thailand Offers 15-Day on Arrival Visas to Georgian Nationals Visa on arrival will be available to Georgian citizens traveling to Thailand starting from April 2019. Georgian nationals will be able to travel to Thailand, obtain a visa on arrival and stay in the country for up to 15 days (Georgia, Thailand simplify visa procedures, Agenda.ge [...]

2019-03-28T13:57:36+04:00 January 22nd, 2019|

India to Get 10 New Georgian Visa Centers

India to Get 10 New Georgian Visa Centers Ten new Georgia visa centers will be opened in Indian cities, according to the announcement of Georgia's Ministry of Foreign Affairs. An official agreement was signed by Georgian Ambassador to India, Archil Dzuliashvili, and Regional Head for South Asia of VFS Global, Alok Singhal. VFS Global Services [...]

2019-03-15T06:39:02+04:00 January 22nd, 2019|

Moldovan Citizenship

Two Applications for Obtaining Moldovan Citizenship by Investments Two applications were submitted after two months of the official launch of the Citizenship Program of the Republic of Moldova by investments. They are being considered by the Department of Public Services Agency. At the same time, one agent, Henley & Partners SRL, is accredited, one potential [...]

2019-01-21T13:06:09+04:00 January 21st, 2019|

Georgia Dual Citizenship

Georgia Allows Dual CitizenshipGeorgian citizenship will not be terminated in case of acquiring a second citizenship.In September 2018, the Parliament of Georgia adopted amendments to the Constitution, according to which holders of Georgian passports will no longer be deprived of their citizenship if they acquire the citizenship of another country. However, dual citizens will have [...]

2019-01-14T14:22:12+04:00 January 14th, 2019|

Georgian Passport Improves Its Global Ranking

Georgian Passport Improves Its Global RankingOver the last two years the demand for Georgian citizenship has increased as the Georgian passport improved its place in different international rankings.The European Union introduced a visa-free regime for Georgian citizens on 28 March, 2017. Georgian citizens can visit Schengen countries without a visa for tourism, business, and personal [...]

2019-03-15T06:43:03+04:00 January 14th, 2019|
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