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Business Opportunities in Armenia 2021  

Business Opportunities in Armenia 2021 

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. 

Օrchard 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. 

Օrchard 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

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Nerses Isajanyan

Attorney

LL.M. Georgetown University

New York Bar | Armenia Chamber of Advocates

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