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Foreign business owners and investors appreciate the pace of the economic reforms, Armenia's safety, freedom and openness. There are generally no restrictions on foreign ownership of companies, real property and other assets. Armenia guarantees free repatriation of invested capital and profit. Investment projects are encouraged with tax benefits and government assistance programs.
Zero-tax status is available to micro-businesses, IT start-ups, companies operating in free economic zones, industrial zones, certain border towns and villages. Other small businesses with annual sales of less than around $220,000 are subject to sales (turnover) tax of only 1.5-5%. Armenia generally does not tax capital gains on the sale of securities, real estate or other assets. Insurance and pension payment are also exempt from taxes. There are no taxes on gifts, inheritance, net worth, etc. Property taxes are very low.
Investing in Armenia can qualify you and your family members for a residence status (temporary, permanent, or special). Under general naturalization rules, a foreigner may become eligible for Armenian citizenship after three years of residency.
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Two-story, 200 sq. m. (2,100 sq. ft.) cozy stand-alone house with a view of Lake Sevan, a fireplace and an orchard of 1,600 sq. m. Sold together with two separate plots of farm land of 11 hectares (27 ac) overlooking the lake. $120,000.
Orchards & Vineyards
Vineyard in Ararat. 12,500 sq. m. (3 ac). $25,000. |  |
Nut orchard near Yerevan (across the airport). 37,000 sq. m. (9.1 ac) with 800 nut trees and 50 almond trees, fenced, drip irrigation. $92,000. |  |
Vineyard in Armavir. 10,000 sq. m. (2.5 ac). $21,000. |  |
Vineyard and apricot trees in Armavir. 8,000 sq. m. (2 ac). $24,000. |  |
Cherry orchard in Armavir. 10,000 sq. m. (2.5 ac). $10,000. |  |
Apricot orchard in Aragatsotn. 11,000 sq. m. (2.7 ac). $13,000. |  |
Plum orchard in Armavir. 47,000 sq. m. (11.6 ac). $49,000. |  |
Apricot and nut orchard in Aragatsotn. 9,000 sq. m. (2.2 ac). $12,000. |  |
Õ•rchard in Ararat (apricot, peach, mulberry, blackberry). 25,000 sq. m. (6.2 ac). $22,000. |  |
Apple orchard in Ararat. 20,000 sq. m. (5 ac). $21,000. |  |
Quince orchard in Armavir. 6,000 sq. m. (1.5 ac). $7,000. |  |
Cherry orchard in Vayots Dzor. 20,000 sq. m. (5 ac). $20,000. |  |
Vineyard in Ararat. 15,000 sq. m. (3.7 ac). $19,000. | |
Õ•rchard in Lori (peach, cherry, apple, plum, nut, mulberry). 15,000 sq. m. (3.7 ac). $14,000. |  |
Apricot orchard in Armavir. 620,000 sq. m. (153 ac). $300,000. |  |
Apricot orchard in Ararat. 10,000 sq. m. (2.5 ac). $13,000. |  |
Orchard in Armavir (plum, peach, apricot, cherry, almond). 45,000 sq. m. (11.1 ac). $48,000. |  |
Investment Land
Land for residential or commercial development in Lori. 48,000 sq. m. (11.9 ac). $69,500. |  |
Development land in Lori. 6,200 sq. m. (1.5 ac). $9,500. |  |
Recreational land in Lori. 42,000 sq. m. (10 ac). $99,000. |  |
Farm land in Tavush. 6,000 sq. m. (1.5 ac). $25,000. |  |
Farm land in Tavush. 2,000 sq. m. (0.5 ac). $8,000. |  |
Land for residential or commercial development in Tavush. 2,000 sq. m. (0.5 ac). $10,000 |  |
Farm land in Tavush. 8,600 sq. m. (2.1 ac). $6,000. |  |
Land for commercial development in Kotayk. 25,000 sq. m. (6.2 ac). $95,000. |  |
Recreational or farm land in Kotayk. 20,000 sq. m. (5 ac). $55,000. |  |
Farm land in Syunik. 35,000 sq. m. (8.6 ac). $12,000. |  |
Land for residential development in Tavush. 3,380 sq. m. (0.8 ac). $11,000. |  |
Farm land in Tavush. 13,000 sq. m. (3.2 ac). $30,000. |  |
Farm land in Lori. 29,000 sq. m. (7.1 ac). $52,000. |  |
Land for residential development in Lori. 1,700 sq. m. (0.4 ac). $6,000. |  |
Farm land in Vayots Dzor. 4,400 sq. m. (1 ac). $4,000. |  |
Land for residential development in Lori. 4,000 sq. m. (1 ac). $15,000. |  |
Land Under $1,000
Raw land in Lori. 10,000 sq. m. (2.5 ac). $950. |  |
Raw land in Gegharkunik. 20,000 sq. m. (5 ac). $950. |  |
Raw land in Gegharkunik. 25,000 sq. m. (6 ac). $950. |  |
Raw land in Syunik. 20,000 sq. m. (5 ac). $950. |  |
Raw land in Gegharkunik. 11,000 sq. m. (2.7 ac). $950. |  |
Raw land in Aragatsotn. 16,000 sq. m. (4 ac). $950. |  |
Raw land in Shirak. 13,000 sq. m. (3 ac). $950. |  |
Raw land in Syunik. 9,000 sq. m. (2.3 ac). $950. |  |
Raw land in Armavir. 11,000 sq. m. (2.7 ac). $950. |  |
Raw land in Aragatsotn. 9,500 sq. m. (2.4 ac). $950. |  |
Houses with Orchards
200 sq. m. (2,200 sq. ft.) in Lori. $42,000. |  |
Gegharkunik. $30,000. |  |
300 sq. m. (3,200 sq. ft.) in Tavush. 1,000 sq. m. (0.25 ac) orchard. $72,000. |  |
140 sq. m. (1,500 sq. ft.) in Shirak. 10,000 sq. m. (2.5 ac) orchard and raw land. $62,000. |  |
310 sq. m. (3,300 sq. ft.) in Tavush. 1,000 sq. m. (0.25 ac) orchard. $47,000. |  |
260 sq. m. (2,800 sq. ft.) in Aragatsotn. 1,300 sq. m. (0.3 ac) orchard. $56,000. |  |
200 sq. m. (2,200 sq. ft.) in Gegharkunik. 1,600 sq. m. (0.4 ac) orchard. $72,000. |  |
240 sq. m. (2,600 sq. ft.) in Lori. $90,000. |  |
300 sq. m. (3,200 sq. ft.) in Aragatsotn. 2,000 sq. m. (0.5 ac) orchard. $85,000. |  |
Rental Properties in Central Yerevan
Street | Rooms | Size | Asking Price |
|---|---|---|---|
Demirchyan | 3 | 80 sq. m. | $97,000 |
Demirchyan | 3 | 107 sq. m. | $120,000 |
Hanrapetutyan | 3 | 89 sq. m. | $108,000 |
Hanrapetutyan | 2 | 80 sq. m. | $110,000 |
Agatangeghos | 3 | 88 sq. m. | $80,000 |
Amiryan | 3 | 82 sq. m. | $120,000 |
Yekmalyan | 3 | 90 sq. m. | $93,000 |
Mrtchyan | 3 | 90 sq. m. | $110,000 |
Tpagrichner | 2 | 88 sq. m. | $105,000 |
Mashtots | 3 | 89 sq. m. | $115,000 |
Mashtots | 3 | 81 sq. m. | $109,000 |
Mashtots | 3 | 90 sq. m. | $115,000 |
Mashtots | 2 | 99 sq. m. | $110,000 |
Isahakyan | 4 | 101 sq. m. | $119,000 |
Chaikovsky | 3 | 84 sq. m. | $115,000 |
Hotels for Sale
3,500 sq. m. (2,200 sq. ft.) in Aghveran, Kotayk. $1.8M. |  |
1,400 sq. m. (2,200 sq. ft.) in Yerevan. $4.9M. |  |
1,045 sq. m. (3,200 sq. ft.) in Yerevan. $890,000. |  |
750 sq. m. (1,500 sq. ft.) in Tsaghkadzor, Kotayk. $780,000. |  |
3,000 sq. m. (3,300 sq. ft.) in Yerevan. $2.5M. |  |
55-room hotel in Jermuk, Vayots Dzor. $4.5M. |  |
850 sq. m. (1,500 sq. ft.) in Garni, Kotayk. $650,000. |  |
Agricultural & Food Processing Businesses for Sale
Business | Asking Price | Location |
|---|---|---|
Greenhouses | $23,000-$800,000 | Armavir, Kotayk, Ararat, Aragatsotn |
Fruit driers | $55,000-$850,000 | Ararat, Yerevan, Armavir |
Cold storages | $120,000-$298,000 | Ararat, Aragatsotn |
Fish farms | $160,000-$240,000 | Armavir |
Poultry farms | $37,500-$365,000 | Kotayk, Armavir, Gegharkunik |
Cattle farms | $55,000-$1,800,000 | Lori, Ararat, Armavir, Yerevan, Shirak, Gegharkunik |
Rabbit farm | $550,000 | Tavush |
Pork farms | $68,000-200,000 | Kotayk |
Wine, brandy factories | $1,200,000-$2,000,000 | Ararat, Armavir |
Ice cream factories | $950,000-$2,200,000 | Aragatsotn, Yerevan |
Slaughterhouse | $600,000 | Kotayk |
Meat processing, canned food factories | $500,000-$1,500,000 | Yerevan, Aragatsotn |
Livestock feed factories | $16,000-$180,000 | Kotayk |
Dairy factory | $100,000 | Shirak |
Bakeries | $28,000-$500,000 | Yerevan, Lori, Kotayk |
Non-Agricultural Businesses for Sale
Business | Asking Price | Location |
|---|---|---|
Restaurants | $40,000-$2.3M | Yerevan, Kotayk, Ararat, Vayots Dzor, Shirak, Gegharkunik |
Fast food outlets | $29,500-$89,000 | Yerevan, Kotayk, Armavir |
Taverns | $51,000-$1M | Yerevan, Armavir, Ararat |
Bars, Pubs, Cafes | $25,000-$2.5M | Yerevan, Kotayk, Tavush, Armavir |
Grocery stores | $41,000-$250,000 | Yerevan, Kotayk, Lori, Shirak |
Gyms | $23,500-$460,000 | Yerevan |
Beauty parlors | $50,000-$450,000 | Yerevan |
Gas stations | $170,000-700,000 | Kotayk, Ararat, Shirak, Gegharkunik, Aragatsotn |
Auto repair services | $54,000-$2.2M | Yerevan, Armavir, Ararat, Shirak |
Car washes | $25,000-$200,000 | Yerevan, Lori |
Bank Deposits
Rates as of Feb. 2021
Bank | Armenian Dram (1-3 Years) | US Dollar (1-3 Years) |
|---|---|---|
ACBA | 7.5%-9% | 3.25%-4% |
Ameriabank | 7.7%-8.6% | 2.7%-3.5% |
Araratbank | 8% | 3.5% |
Ardshinbank | 8.25%-9% | 3.25%-4.5% |
Armbusinessbank | 9.5%-10.75% | 3.55%-4.65% |
Armeconombank | 9.25%-9.5% | 4.3%-4.5% |
Armswissbank | 6.5%-7.75% | 4%-4.75% |
Artsakhbank | 9.5%-10% | 3.75%-5.25% |
Byblos Bank Armenia | 9%-9.25% | 4%-4.25% |
Converse Bank | 8%-8.25% | 3.75%-4% |
Evocabank | 8%-10.75% | 3%-5.75% |
HSBC Armenia | 7%-7.5% | 1.5% |
ID Bank | 8.25%-9.5% | 3.5%-4.5% |
Inecobank | 8.9%-9.15% | 3.65% |
Unibank | 9.5%-10.25% | 3.25%-4.5% |
VTB | 10% | 1.75%-2.15% |
Small Business Opportunities
1. Agriculture
- Beekeeping & honey production
- Greenhouse (flowers, vegetables, berries, herbs, lemons, etc.)
- Dried fruits (apricots, prunes, peaches, etc.)
- Winemaking
- Vegetables (celery, asparagus, broccoli, etc.)
- Poultry farming & hatchery operation
- Berries (strawberry, blackberry, raspberry, etc.)
- Cattle farming
- Sheep & goat farming
- Pig farming
- Fish farming (crawfish, caviar, etc.)
- Herb growing (herbal teas, spices, medicinal herbs, stevia)
- Dried herbs and medicinal herbs
- Wild harvest
- Paulownia tree farming
- Crops (buckwheat, emmer wheat, etc.)
- Corn farming
- Cotton farming
- Mushroom farming, harvesting
- Snail farming
- Horse breeding
2. Food Processing
- Cold storage for fruits and vegetables
- Slaughterhouse
- Fish processing
- Cheese making, milk processing
- Meat processing
- Canning, packaging, freezing, etc.
- Juice
- Compote, jam, syrup, concentrate, pickles
- Mushroom processing
- Vodka (grape, apricot, apple, plum, etc.)
- Brandy, fruit & herbal wine, tinctures
- Pasta manufacturing
- Processing of wild harvest (canned fruits, berries, herbs)
- Flour milling
- Oil production (olive, linseed, grape seed, etc.)
- Livestock feed manufacturing
- Organic fertilizer production
- Leasing of farm equipment
3. Travel & Tourism
- Guest house, bed & breakfast
- Camping & glamping
- Wooden, light-structure, treehouse cottages
- Rest area (shelter, food, WC, market, souvenir shop, etc.)
- Co-living space
- Workation space
- Rental of recreational vehicles
- Travel agency
- Souvenir shop
- Gastronomy & wine tourism
- Restaurants (café, pavilion, gastro-yard, etc.)
- Craft tourism
- Archeological tourism
- Adventure tourism
- Hiking trails & tours
- Horseback riding
- Mountain climbing
- Cave tourism
- Off-road tours
- Rental of all-terrain vehicles
- Bicycle rental station
- Mountain bike trails & tours
- Fishing
- Eco-village
- Birdwatching
- Winter tourism (ski lodges, ski equipment rental)
- Rental of snowmobiles
- Recreational & athletic facilities
- Amusement park
- Skating rink
- Zip line
- Ropeway
4. Automotive
- Gas station
- Auto parts
- Auto pawnshop
- Car wash
- Car service station
- Carsharing
- Help with buying used cars
5. Children's Products and Services
- Children's center
- Play rooms and playgrounds
- Kindergartens
- Goods for kids
- Children's clothing
- Mental math
- Toys and games for children
- Children's' hairdressing saloons
6. Food
- Café
- Restaurant
- Fast food outlet
- Bar
- Coffeehouse
- Coffee to go
- Beer house
- Sushi, rolls
- Canteen
- Hookah bars
- Children's café
- Burgers
- Pizzerias
- Pancakes & waffles
- Ice cream
- Shawarma
7. Education
- Courses
- English language schools
- Schools & training centers
- Schools of programming and robotics
- Language schools and centers
- Football schools
8. Manufacturing
- Bakery
- Food production
- Building materials production
9. Trade
- Car accessories
- Liquor stores
- Pharmacies
- Vape shops, hookahs
- Vending machines
- Healthy food
- Pet shops
- Stationery
- Confectionery
- Cosmetics and perfumery
- Furniture
- Butcher shops
- Underwear
- Equipment and tools
- Shoes
- Clothing
- Optics
- Gifts
- Food
- Fish
- Sweets
- Building materials
- Bags and suitcases
- Phones & gadgets
- Household goods
- Health and beauty products
- Dropshipping
- Flowers and plants
- Jewelry
10. Services
- Rentals and hire
- Apartment rentals
- Car rentals
- ATV & snowmobile rentals
- Bicycle and scooter rental
- Manpower supply
- Food delivery
- Call center
- Cleaning services
- Courier delivery services
- Shipping and cargo services
- Nursing homes
- Advertisement/marketing agency
- Phone repair service centers
- Construction and renovation
- Taxi, cargo transportation
- Shooting range
- Pet grooming
- Photo studios
- Dry cleaners, laundries
- Certification centers
- Security & surveillance
- Coworking spaces
11. Health & Beauty
- Epilation and sugaring
- Fitness clubs
- Athletic clubs
- Dentistry
- Beauty salons
- Hairdressing salons
- Eyelash extensions
- Medical laboratories
- Medical centers
- Manicure, pedicure
- Massage parlors
- Barbershops
- Grooming salons
- Fitness/yoga studios
12. Online & Home-Based Businesses
- Online stores
- Digital & social media marketing
13. Entertainment
- Quests
- Bookmakers
- Pools, water parks
- Virtual reality
- Computer/cybersport clubs
14. Finances
- Insurance brokers
- Pawnshops
- Credit brokers
- Cryptocurrencies & mining
15. Professional Services
- Legal services
- Real estate
- Migration center
- Consulting
- Bankruptcy
- Accounting services
- Visa application centers
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Copyright 2021 - Vardanyan & Partners LLC
Nerses Isajanyan
Managing Attorney
LL.M. Georgetown University
New York Bar | Armenian Chamber of Advocates
We are a team of licensed lawyers based in Armenia and Georgia. Our primary commitment is to provide quality service to clients at a compelling value that helps manage risk, overcome regulatory issues and advance their personal and business goals.
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Nerses Isajanyan
Attorney
LL.M. Georgetown University
New York Bar | Armenia Chamber of Advocates
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