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Discover a World of Benefits: Residency for Entrepreneurs and Investors in Armenia
Armenia, a hidden gem nestled in the South Caucasus region, has all the potential to become an attractive destination for entrepreneurs and investors who seek to obtain residency in another country. With its stunning landscapes, rich cultural heritage, and favorable business environment, Armenia has become a sought-after destination both for life and business.
Options for residency in Armenia
Entrepreneurs and investors have various pathways to obtain residency in Armenia, as the country offers sufficient freedom to choose their preferred approach. One option is through doing business in the country. You can choose to either register your own company or become a shareholder of an existing one and this will make you eligible for a 1 or 5-year residence permit in Armenia.
One of the advantages of starting a business in Armenia is that the law does not require a specific amount of investment for it, thus, if you find a sphere which does not require much investment (such as online work) you will not be obliged to invest a big amount of money as a specific statutory capital. Moreover, Armenian law does not require license for many business activities such as travel agency, e-commerce, etc., thus, providing the individual with many options to choose from.
Another option would be through real estate investment. For this an individual should acquire properties or land, turn it into an income generating business (e.g. rent out) and obtain residency through this. For this process, it is usually recommended to find an apartment in busier and bigger towns or districts so that it is easier to rent out and become eligible for residency. The prices for apartments may vary hugely depending on the location, but you should consider at least around USD 100,000 to purchase real estate. As a benefit, the property acquisition process is very quick and easy because it is the 13th of 190 countries according to the World Bank’s “Registering Property” index.
Business opportunities and benefits in Armenia
From a business perspective, Armenia offers many benefits for investors. Situated at the crossroads of major regional trade routes, Armenia serves as a gateway to markets in Europe, Asia, and the Middle East. Its strategic location makes it an ideal hub for companies seeking to establish a presence in the wider Eurasian region. Investors can leverage Armenia's membership in the Eurasian Economic Union (EAEU), which provides preferential access to a market of over 180 million people.
Moreover, Armenia has made significant strides in improving its business climate, implementing reforms to attract foreign investment. The government has simplified bureaucratic procedures, introduced investor-friendly regulations, and established free economic zones and industrial parks in addition to already favorable tax regime, characterized by low personal and corporate tax rates. The ease of doing business index consistently reflects Armenia's commitment to creating an investor-friendly environment. In particular, the country offers a highly beneficial environment for the Information Technology (IT) sector. Newly registered IT companies have the opportunity to apply for an IT start-up certificate, granting a temporary exemption from corporate income tax until December 31, 2023, and reducing the personal income tax withheld by employers from the standard rate of 21% to a reduced rate of 10%.
The government also creates good incentives for the field of agriculture as this sector serves as a driving force in the Armenian economy. Currently, the government has subsidized programs for sheep and goat breeding, cattle farming, and orchards/vineyards to further develop this sector.
Furthermore, Armenia is renowned for its highly skilled and tech-savvy workforce. The country has a longstanding tradition of excellence in science, engineering, and technology, producing talented professionals in fields such as IT, software development, and engineering. Foreign investors can tap into this pool of talent to drive innovation and develop cutting-edge technologies.
Benefits of Obtaining a Digital Nomad Visa
Obtaining a digital nomad visa for Armenia comes with several benefits. Firstly, Armenia is a beautiful country with a rich history and culture. The country has a low cost of living, making it an affordable destination for digital nomads. Secondly, Armenia has a fast and reliable internet connection, which is crucial for remote workers. Thirdly, the Armenian government is supportive of remote workers and has introduced several initiatives to attract digital nomads to the country. For instance, the government has introduced tax exemptions for newly registered IT businesses, including “private entrepreneurs.” Lastly, Armenia is strategically located between Europe and Asia, making it an ideal base for digital nomads who want to explore both continents.
Exploring the lifestyle in Armenia
Armenia offers a vibrant lifestyle and numerous opportunities for residents. The capital city of Yerevan, known for its bustling nightlife, exquisite dining options, and cultural events, creates a cosmopolitan atmosphere for residents and visitors alike. The country's rich history, ancient monasteries, and UNESCO World Heritage sites offer a wealth of exploration opportunities.
As for the healthcare sector, Armenia has a network of hospitals, clinics, and medical centers that provide healthcare services across the country. The quality of healthcare facilities can vary, with better facilities typically found in urban areas, especially in Yerevan. In should be taken into account that in Armenia, citizens or residence permit holders are not required by law to have health insurance. However, there are six licensed insurance companies in the country that offer health insurance, with annual rates usually ranging between $300 to $600 per person.
Conclusion: Why residency by investment in Armenia is a smart choice
Whether you aim to obtain residency through starting your own company or becoming part of an existing company in Armenia, you will discover abundant opportunities and benefits in this country, starting from favorable business environment and opportunities to its vibrant lifestyle.
What Makes Armenia a Good Choice for Residency
No Stay or Visit
Maintaining residency in Armenia does not require physical presence; remote application is possible.
Fast and Easy
The residency application usually takes about 80 days and only a valid passport is required.
Family Covered
Residents can sponsor extended family for residency (parents, siblings, grandchildren, etc.)
Citizenship Path
After living in Armenia for three years, citizenship can be obtained. Dual citizenship is allowed.
Contact Us
We will be happy to answer your questions. Please fill out this form and we will be in touch soon.
We are committed to keeping your e-mail address confidential. We do not sell, rent, or lease our contact data or lists to third parties, and we will not provide your personal information to any third party individual, government agency, or company at any time.
Our Proven Process of Making Armenia Your Second Home
1
Preparation
As part of the preparation process, we will take care of translating your passport, printing photos, and filling out the necessary forms.
4
Residency for Family
You can sponsor your spouse, children, parents, siblings, grandparents, and grandchildren to obtain residency in Armenia.
2
Investment
In order to qualify for residency, you have the option of either making a low-risk investment in government bonds or donating to a rural development project.
5
SSN, Tax ID, Etc.
You can obtain a certificate of registered address, a social security number, personal tax identification number, as well as a tax residency certificate.
3
Residence Permit
Applicants can choose to apply for a temporary (1-year) or permanent (5-year) residence permit remotely or in-person.
6
Bank Account
You can choose from 18 banks offering online and mobile banking, Visa and MasterCard options, and up to 11% interest on deposits in AMD, RUR, etc.
What Clients Say
“
Overall, I felt it could not have been any better. Everything was taken care of so smoothly, effortlessly, and managed very well.
Jagdish n.
“
It is always daunting when dealing with immigration, visas etc in a foreign country. The team at Vardanyan & Partners made the process for registering the business and applying for residency so much easier. I had no worries at all. The team overall really went out of their way to accommodate and assist us.
Nadine B.
“
The team members were all professional, knowledgeable and most importantly, honest. They are hard-working and patient and were always responsive to my messages and questions. What I like most is, they are very well organised and have a modern system of work.
H. Rassa
Armenia is a captivating nation with a rich history and a promising future. Our firm is wholeheartedly committed to supporting individuals and businesses that recognize Armenia's potential and are eager to contribute to its ongoing success.
We trust that this website will serve as a valuable resource for you in gathering the information you need. Should you have any questions or require further assistance, please feel free to get in touch with us. You can easily contact us through various channels, such as completing the form on our website, emailing us directly at [email protected], or reaching out via phone or popular messaging apps like WhatsApp, Viber, Telegram, and Skype at +374.99.00.11.67. We are always available to assist you in any way possible.
Nerses Isajanyan
Managing Attorney
LL.M. Georgetown University, licensed to practice in both Armenia (license no. 903) and New York (license no. 5148945)
About Us
Vardanyan & Partners is a reputable law firm situated in Yerevan, Armenia, which has been providing excellent legal services since its establishment in 2012. Our team of locally licensed, English-speaking attorneys specializes in immigration, incorporation, and compliance matters, ensuring that clients receive expert legal guidance. We are committed to staying up-to-date with the latest changes in legislation and regulations, ensuring that our clients receive the most relevant and accurate advice. At Vardanyan & Partners, we place a strong emphasis on honesty, transparency, and client care.