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How to Secure Your Residency in Armenia through Investment: A Comprehensive Guide

[email protected] | +374. | WhatsApp | Skype | Viber | TelegramHow to Secure Your Residency in Armenia through Investment: A Comprehensive GuideIn this comprehensive guide, I will walk you through the steps to secure your residency in Armenia through investment.Introduction to Residency by InvestmentResidency by investment is a process that allows foreign nationals to obtain [...]

2023-06-07T08:55:53+04:00 May 12th, 2023|

Navigating the Digital Nomad Visa Process: How to Become a Resident of Armenia

[email protected] | +374. | WhatsApp | Skype | Viber | TelegramNavigating the Digital Nomad Visa Process: How to Become a Resident of ArmeniaEvery country has its own set of immigration rules and regulations, making the process of obtaining a visa a daunting task. However, in recent years, many countries have recognized the benefits of having [...]

2023-05-12T11:43:38+04:00 April 28th, 2023|

The Time Taken to Get Armenian Citizenship may be Cut in Half

Armenia's Ministry of Justice is considering cutting the time required to get Armenian citizenship from 6 months to 3 months. The ministry notes that Armenians who file for citizenship abroad should be able to get their citizenship documents at the diplomatic missions and consular offices of the Republic of Armenia in foreign countries. According to [...]

2019-12-04T18:20:09+04:00 December 4th, 2019|

Armenian Government to Develop Space Activities with Tax Benefits

Hakob Arshakyan, High-Tech Industry Minister of Armenia, remarked that there is a need to regulate and promote space activities in order to employ space research and industry in an advantageous way for the whole Armenia economy. The solution to the issue was the approval of a draft law on space activity by the government. Currently, [...]

2019-12-04T18:12:55+04:00 December 4th, 2019|

Shops Outside of Yerevan to be Free from Paying Taxes

The new implemented amendments refer to Armenia business sector outside of Yerevan, the capital of Armenia. According to the new amendments to the Tax Code, small businesses in rural areas having an annual turnover of up to AMD 24 million will be exempted from tax burdens. The author of the amendments, Mane Tandilyan, a member [...]

2019-12-04T17:48:39+04:00 December 4th, 2019|

Opening Serbian Embassy in Armenia and Exempting Armenian Citizens from Visa

Armenian citizens will be exempted from entry visas to Serbia. In addition, the Serbian government approved the decision to open the Serbian Embassy in Armenia. Armenian citizens can enter and stay in Serbia for up to 90 days in any 180-day period.The decision to cancel the visa regime for Armenian citizens was made after Armenian President, [...]

2019-11-28T07:10:13+04:00 November 25th, 2019|

Georgian Consulate opens in Sao Paulo, Brazil

The Ambassador of Georgia to Brazil, David Solomonia, opened a Georgian consulate in the Brazilian city of Sao Paulo on October 24. With the opening of this institution, a new phase in the bilateral relations between the two countries begins, which will promote the protection of the rights and interests of Georgian citizens and legal [...]

2019-11-25T20:53:48+04:00 November 25th, 2019|

Georgia Ranks 7th in World Bank’s Ease of Doing Business 2020

The Ease of Doing Business rating, being published by the World Bank since 2003, ranked Georgia 7th in regards of doing business with a simple process. According to the World Bank Report 2020, Georgia achieved 83.7 points, which allowed Georgia to still be on the top among 190 countries. The report claims that Georgia and [...]

2019-11-25T20:19:38+04:00 November 25th, 2019|

Labor Safety Law Changes in Georgia

On September 1, 2019, the compressed law regarding Labor Safety in Georgia got into force. The law refers not only to the dangerous, heavy, and hazardous labor professions but to all areas of economic enterprise all over Georgia. From now on, local employees, as well as foreign employees will have secured jobs in Georgia in [...]

2019-11-22T17:11:48+04:00 November 22nd, 2019|

Startup Hub by Digitain to be Launched in Yerevan

WCIT2019 tech conference taken place in Yerevan, Armenia brought many developments to the country. Digitain, a gaming software company, is planning to initiate one of those. Its plan aims to set up a tech hub that will help prosper IT companies in Yerevan.According to the company, the hub, which is going to be named DigiTown, [...]

2019-11-15T06:00:15+04:00 November 14th, 2019|

Developing Armenia-India Business Ties

2019 is going to be distinctive due to developing business relations between Armenia and India.On the one hand, Armen Sarkissian, President of Armenia, discusses Armenia's ties with the Indian business sector during the meeting with Indian Economic Trade Organization President, Asif Iqbal, and his delegation which included businessmen and executives of the B.E.S.T. Innovation University [...]

2019-11-21T16:55:57+04:00 November 14th, 2019|

Minimum Wage in Armenia to be Increased

Assuring that the members of the parliament would not benefit from the passed amendment themselves, Armenia's Parliament voted for the increase of the minimum wage in Armenia by 23%.The increase of the minimum wage from AMD 55,000 per month (approximately USD 115) to AMD 68,000 per month (around USD 142) was voted for on the [...]

2019-11-21T16:55:47+04:00 November 14th, 2019|

Syrian, Lebanese, Iraqi Citizens to be Able to Obtain Armenian Passports from Their Countries

It has become a challenging task to come to Armenia and get Armenian passport for Lebanese, Syrian, and Iraqi nationals because of the prevailing tensions in those countries, particularly the recent Turkish aggression against Syria. To overcome this, the respective officials made a decision to extend provision based on which the nationals of Lebanon, Syria, [...]

2019-11-14T16:22:25+04:00 November 14th, 2019|

No Estimated Dates on the Visa Liberalization for Armenia with EU States

Picture from schengenvisainfo.com The Foreign Ministry of Armenia formed an inter-department delegation under the head of Deputy Chief of Police Hovhannes Kocharyan, as stated by Avet Adonts, Deputy Foreign Minister of Armenia. The delegation intends to hold visa liberalization discussions with EU member states. Avet Adonts mentioned in one of the interviews that "The delegation [...]

2019-10-16T16:58:08+04:00 October 16th, 2019|

Jan-June 2019: Armenia Hosts 12.3% More Tourists than a Year Earlier

Picture from dreamview.net According to the National Statistical Committee of Armenia, the country hosted 770,055 tourists during the period of January-June 2019. The figure shows year-on-year growth of 12.3%. During this period, 684,808 Armenian tourists left the country, as mentioned in the statistical report. Tigran Khachatryan, the Economy Minister of Armenia, stated earlier that the [...]

2019-10-16T16:53:30+04:00 October 16th, 2019|

Armenia and Kyrgyzstan to Exclude Double Taxation

Picture from CCIS-Expertise Tigran Khachatryan, Armenia's Minister of Economy and his Kyrgyz counterpart, Sanjar Muakanbetov signed the "Agreement on Excluding Double Taxation of Revenue and Preventing Tax Evasion between the Government of the Republic of Armenia and the Government of the Republic of Kyrgyzstan." The agreement was signed on the sidelines of the session of [...]

2019-10-16T16:49:56+04:00 October 16th, 2019|

Armenia Attracts IT Experts with Its Tax Privileges for Startups

Picture from NICEPNG The new law regarding IT tax privileges in Armenia has given new opportunities for startups, and approximately 100 tech companies have already expressed their interest in it by applying to the Armenian Ministry of High Tech Industry. The law on State Support for Information Technologies sector, which has been active since May [...]

2019-10-16T16:47:44+04:00 October 16th, 2019|

Foreign Citizens Performed 10.9% of the Total of Real Estate Transactions in Armenia in 2018

A Grant Thornton’s recent analysis (read the full publication here) of the real estate market in Armenia was released in July 2019. It is an independent, objective, comprehensive, and trusted study which primary purpose is to help individuals who are searching for data and real estate market time series analysis. It also intends to assist [...]

2019-10-16T16:32:55+04:00 October 16th, 2019|

17% More Tourist Spending in Armenia

Picture from Photodune According to Nikol Pashinyan, Armenia’s Prime Minister, in the first quarter of 2019, the spending of the tourists arriving in the country exceeded the amount spent during the same period of the previous year by approximately 120 million US dollars. The Central Bank of Armenia reported that around 85,000 more tourists visited [...]

2019-10-16T16:26:19+04:00 October 16th, 2019|

Global Innovation Index: Armenia is 64th; Georgia is 48th

Picture from Pro Bono Australia In the Global Innovation Index ranking for 2019 released by the World Intellectual Property Organization (WIPO), Armenia improved its position by 4 compared to 2018 coming 64th with 33.98 points in the list of 129 countries. In addition, Armenia is already regarded as an upper-middle country, and the GII 2019 [...]

2019-10-14T17:49:36+04:00 October 14th, 2019|

Georgia-Nepal: Visa Regime for Diplomatic, Service Passport Holders to be Abolished

Picture from Crossed Flag Pins According to the Georgian Public Broadcaster, visa travel for diplomatic and service passport holders will be abolished as agreed by the governments of Nepal and Georgia. Deputy Foreign Minister of Georgia Aleksandre Khvtisiashvili will sign the agreement soon. According to the decision of the Georgian government, those Nepalese citizens who [...]

2019-10-14T17:04:27+04:00 October 14th, 2019|

24.3% Growth in Real Estate Transactions in Armenia

Picture from danspapers.com 46,789 transactions for state registration of the right to the immovable property took place in Armenia in the second quarter of 2019. The indicator is 24.3% higher than the number recorded in the first quarter of 2019 and 17.3% higher than in the second quarter of 2018. Real estate purchase and sale [...]

2019-10-14T16:43:38+04:00 October 14th, 2019|

14.4% More Tourists Visiting Armenia (H1 of 2019)

Picture from yerevan.am Some developments are noticed in Armenian tourism industry. Nikol Pashinyan, Armenian Prime Minister, announced that the number of tourists visiting Armenia between January and June 2019 has drastically increased. The number is 14.4% greater compared to the number for the same period of 2018. Nikol Pashinyan Armenian Prime Minister By the way, [...]

2019-10-14T16:16:05+04:00 October 14th, 2019|

Armenia-China Relations: Mutual Visa Requirements to be Lifted

Picture from armedia.am Armenia-China Relations are improving. During the Cabinet meeting on July 11, 2019, the Armenian Government approved the draft law on lifting the visa regime with China. This law applies to the citizens of both countries. In order to check the compliance with the Constitution, the bill will be submitted to the Constitutional [...]

2019-10-11T17:36:32+04:00 October 11th, 2019|

Huge Growth in Tourism and Wine Industries in Georgia

Picture from Georgian Holidays The Georgian National Tourism Administration has reported that Georgia saw an 8.4 per cent increase in the number of tourists visiting the country between January and June compared to the same period of 2018. More than 3,862,000 tourists contributed to having 9.2 per cent (101 million US dollars) increased revenues between [...]

2019-10-17T17:09:49+04:00 October 11th, 2019|

More US Citizens Seek Armenian Citizenship after 2018 Revolution

Voice of America reported that the number of US citizens who have Armenian origins and who seek to obtain Armenian citizenship has been increasing after the 2018 Velvet Revolution taken place in Armenia. The government has changed its approaches to acquiring the citizenship and dual citizenship since Armenia’s independence. Armenia adopted a law on dual [...]

2019-10-11T17:06:49+04:00 October 11th, 2019|

25 Companies Pledging a Total of $254 Million Investments Have Been Provided by Tax Benefits in Armenia

Nikol Pashinyan, the Prime Minister of Armenia, reported during a government meeting that it has been since the beginning of 2019, that the  government initiated tax benefits in Armenia with other advantages for 25 companies, which in their turn pledged a total of $254 million investment. The one instrument the government uses to boost investments [...]

2019-10-11T16:55:43+04:00 October 11th, 2019|

Invest in Tbilisi: Georgia is among the Most Dynamic Investment Destinations

Georgia has relatively good economic stability, rating, and high quality of business regulations. These are measures that have been taken into account by Global Finance magazine to name Georgia among the countries with the most effective investment attractiveness. According to authoritative magazine Global Finance, Georgia is among the leading European countries that is noteworthy due [...]

2019-10-11T16:48:48+04:00 October 11th, 2019|

Minimum Salary to be Increased by 23.6% in Armenia

The Armenian government supported the lawmakers’ proposal on the rise of the minimum salary in Armenia from the present AMD 55.000 to AMD 63,000. Another AMD 5,000 were also added to this proposal to make the salary AMD 68,000.Gemafin Gasparyan, the Deputy Minister of Labor and Social Affairs, mentioned that according to calculations, at least [...]

2019-10-11T16:29:09+04:00 October 10th, 2019|

Armenia to Have 4.6%-6.1% Economic Growth

Based on the Central Bank of Armenia (CBA) annual Inflation report, Artur Javadyan, the Chairman of the CBA, stated that Central Bank’s short-term forecast is the  economic growth in Armenia to be at 4.6%-6.1% in 2019. According to Javadyan, the growth will be adapted mainly with the volumes of private spending. The CBA report reveals [...]

2019-10-10T13:05:45+04:00 October 10th, 2019|

Armenia Ranked 84th in Passport Index

Henley Passport Index ranked Armenian passport 84th in the third quarter of 2019. Citizens of Armenia currently can visit 60 countries having visa-free access to them. In 2009 the number of states to visit without a visa stood at 46, which increased to 55 in 2014. The leaders of the Passport Index continue to be [...]

2019-10-10T12:42:01+04:00 October 10th, 2019|

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 [...]

2019-10-09T18:42:09+04:00 September 19th, 2019|

Introduction to Armenia’s IT Sector & Seaside Startup Summit

Armenia’s tech sector has been a driving force in the economy, representing close to 7% of the country’s GDP output and 15% of total exports. According to a recent EIF report the software sector grew more than 27% in 2017, employing over 17,700 professionals. Expectations are high and investors are betting on the promise of [...]

2019-10-11T16:14:11+04:00 July 3rd, 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 [...]

2019-10-11T16:15:20+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 SEJ According 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 [...]

2019-10-08T17:50:51+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 [...]

2019-10-11T16:17:22+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, [...]

2019-11-06T04:47:39+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 [...]

2019-10-09T18:06:09+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 [...]

2019-10-09T18:14:25+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 [...]

2019-10-09T18:19:36+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 [...]

2019-10-11T16:18:41+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, [...]

2019-10-09T18:28:47+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 [...]

2019-10-09T18:45:19+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, [...]

2019-10-11T16:20:09+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 [...]

2019-10-09T18:27:47+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. [...]

2019-10-09T18:31:22+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 [...]

2019-10-09T18:32:08+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 [...]

2019-10-09T18:32:51+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 [...]

2019-10-09T18:33:24+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 [...]

2019-10-11T16:23:05+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 [...]

2019-10-09T18:34:48+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 [...]

2019-10-09T18:35:26+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|

Minimum Salary & Business Turnover Requirements to Be Introduced for Work Residence Permits

Minimum Salary & Business Turnover Requirements to Be Introduced for Work Residence Permit in Georgia Under current regulations a foreign employee may qualify for a work residence permit in Georgia if he/she provides an employment agreement showing his monthly salary, which must be at least twice the amount of average consumer living subsistence (currently GEL [...]

2019-03-15T08:06:59+04:00 March 5th, 2019|

Minimum Investment for Investor Residence Permit to Be Raised to US$300,000 from US$112,000

Minimum Investment for Investor Residence Permit in Georgia to Be Raised to US$300,000 from US$112,000 Under current regulations, a foreign investor may qualify for an investor residence permit in Georgia if he/she invests GEL 300,000 (US$112,000) in the economy of Georgia. Investor residence permit is permanent. These regulations are likely to be changed by upcoming [...]

2019-03-15T07:48:41+04:00 March 5th, 2019|

Minimum Investment for Property Owner Residence Permit to Be Raised to US$100,000 from $35,000

Minimum Investment for Property Owner Residence Permit in Georgia to Be Raised to US$100,000 from US$35,000 Under current regulations, a foreign investor may qualify for a short-term (one-year) renewable residence permit in Georgia if he/she acquires property worth US$35,000 and higher, except for agricultural land. These regulations are likely to be changed by upcoming legislative [...]

2019-03-15T08:11:35+04:00 March 5th, 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 [...]

2019-10-09T19:06:34+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|

Georgia Ranked Highest in the Region by Global Indexes

Georgia Ranked Highest in the Region by Global IndexesRanking (2018)ArmeniaAzerbaijanGeorgiaTurkeyDoing Business47/19057/1906/19060/190European Chamber39/4645/4618/4638/46Global Competitiveness68/14069/14066/14061/140Open Budget Index N/A76/1155/11532/115Human Freedom Index54/159128/15940/15984/159Global Law and Order    69/142    25/14217/14272/142Prosperity Index    88/149    99/14980/149    93/149World Democracy Index    103/189   149/18989/189   110/189

2019-03-15T06:16:34+04:00 January 26th, 2019|

CIT and PIT Rates to Be Reduced in Armenia

Tax Rates CIT and PIT Rates to Be Reduced in Armenia According 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 [...]

2019-10-09T19:16:16+04:00 January 22nd, 2019|

Georgia Visits by Iranian Nationals: Problems & Statistics

Georgia Visits by Iranian Nationals: Problems & Statistics On 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 [...]

2019-10-09T19:03:24+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 [...]

2019-10-09T19:06:08+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 [...]

2019-10-09T19:05:38+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 [...]

2019-10-09T18:47:01+04:00 January 21st, 2019|

Georgia Dual Citizenship

Georgia Will Soon Allow 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 [...]

2019-11-20T15:59:58+04:00 January 14th, 2019|

Georgian Passport Improves Its Global Ranking

Georgian Passport Improves Its Global Ranking Over 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, [...]

2019-10-09T18:53:58+04:00 January 14th, 2019|

Tax Benefits for IT Companies in Armenia

Tax Benefits for IT Companies in Armenia According to the government approval of a set of amendments to the law on state assistance to IT sector government, startups and branches of foreign IT companies will be granted tax breaks. Armen Pambukchyan, deputy Minister of Transport, Communications and Information Technology claimed that the tax benefits will [...]

2019-01-04T12:59:38+04:00 January 4th, 2019|

Armenia’s Hospitality Ranking Is the Highest in the Region

Armenia’s Hospitality Ranking Is the Highest in the Region Passport Index has rated countries on hospitality, based on the number of states the nationals of which can visit the country without a visa. Armenia holds the 29th place as it allows nationals of 132 countries (including India and China) to visit the country without a [...]

2019-10-11T16:23:53+04:00 January 4th, 2019|

Property Prices Grow by 23% in Downtown Yerevan (Sep-Oct. 2018)

Official: Property Prices Grow by 23% in Central Yerevan Foreigners that are interested in buying real estate in Armenia may also be interested in latest price changes. The prices for housing in downtown Yerevan, when compared to September-October last year, rose by 23%. According to the head of the Real Estate Cadastre Committee, Sarhat Petrosyan, [...]

2019-06-08T12:03:14+04:00 December 5th, 2018|

Visa-Free Travel between Georgia and Serbia

On March 8, 2018, Serbia exempted Georgian passport holders from visa requirements. Under the new rules Georgian nationals can enter and stay in Serbia without a visa for up to 30 days in a year. Ministry of Foreign Affairs of the Republic of Serbia, Abolished Visas for Citizens of Georgia, Holders of Ordinary Passport (Mar. [...]

2018-03-26T08:54:01+04:00 March 26th, 2018|

Georgian Citizenship Granted to 3,000 Foreigners in 2017

In 2017 the President of Georgia granted citizenship to 3,000 foreigners who applied under regular procedure for naturalization. Moreover, 8 foreigners acquired citizenship by exception for outstanding contribution to Georgia. Out of these 8 foreigners 3 were citizens of Russia and another 3 were German citizens. 3,000 Foreigners Receive Georgian Citizenship in 2017, GeorgiaToday (Jan. [...]

2018-03-26T08:45:06+04:00 March 26th, 2018|

Georgian Passport Ranks 53rd in the World

With the visa-free regime with the European Union/Schengen zone, which came into effect on March 28, 2017, the Georgian passport has made 15 steps forward from the previous ranking. Georgian citizens can now travel visa-free to 99 countries. Georgian Passport Takes 15 Steps Forward in International Henley & Partners Ranking, Agenda.ge (Jan. 9, 2018).

2018-03-26T08:39:54+04:00 March 26th, 2018|

Passport-Free Travel Between Georgia and Ukraine

The governments of Georgia and Ukraine are working to make is possible for their citizens to travel between the two countries without a passport. Currently, Georgian citizens can stay in Ukraine visa-free for 90 days in a 180-day period but they do need a passport to cross the border. Under the new initiative, travelers will only [...]

2018-03-26T06:34:16+04:00 March 26th, 2018|

Armenia Allows Indians to Get E-Visa and Visa on Arrival

Getting E-Visa and Visa on Arrival On Nov. 22, 2017, Armenia became the easiest country for Indian nationals to visit in Europe. As they can get visa on arrival or a visa online (e-visa) before their arrival to Armenia. Alternatively, they can simply buy tickets, come to Armenia and get a visa on arrival at [...]

2019-10-09T18:58:28+04:00 December 2nd, 2017|

Property Prices in Armenia (2002-2017)

Armenian real estate market grew exponentially between 2002 and 2008 with prices going up by 570%. In 2009 the country’s economy was hit by the global financial crisis and real estate prices went gradually down over the next few years. They remained generally unchanged during 2014-2017 and only a minor growth (2%) has been recorded [...]

2019-10-09T18:57:47+04:00 December 2nd, 2017|

Review of Armenia and Georgia Business Visas

Armenia and Georgia are small neighboring countries in Caucasus. Both countries welcome foreign investors and entrepreneurs and offer immigration benefits such as short-term and long-term business visas and residence permits. Business Visas for Business Owners Armenia and Georgia are small neighboring countries in Caucasus. Both countries welcome foreign investors and entrepreneurs and offer immigration benefits [...]

2019-10-09T18:57:02+04:00 November 17th, 2017|

15 Reasons to Get an Armenian Passport

Benefits of an Armenian Passport  Armenian passport (citizenship) can be acquired by ethnic Armenians, i.e. those who have ancestors of Armenian origin, as well as long-term residents of Armenia, spouses of Armenian citizens and certain other categories of individuals. Below is a list of 15 reasons why obtaining an [...]

2017-07-01T00:25:20+04:00 June 5th, 2017|