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Business Opportunities in Armenia 2020  

Investment Opportunities in Armenia 2021 

6,200 Sq. M. (1.53 Ac) Investment Land for Sale in Lermontovo, $9,500

Property Description

This parcel of land of 6,200 sq. m. is located close to the beautiful woodlands of Armenia’s Lori province, surrounded by lush forests and mountains. It borders the M8 highway of national importance that connects Vanadzor, the capital of Lori province and the third-largest city of Armenia (population of 82,000) with Dilijan, a forested and reclusive spa town and the fastest-growing urban settlement in Armenia with a number of high-class hotels and sanatoriums.

Details

Size

6,200 sq. m. (1.53 Ac)

Asking Price

$9,500

Asking Price per Sq. M. 

$1.53 (comparable properties are available for sale on list.am at $10-20 per sq. m.)

Seller Financing

$750 down with $250 per month for 60 months at 0% APR. No prepayment penalty. 

GPS Coordinates (approx.)

40.772632; 44.610320

Annual Taxes

$5

Zoning

Agricultural (rezoning possible)

Access

M8 Highway

Location & Distance

Lermontovo , formerly known as Voskresenovka, was settled in the mid-1800s by Spiritual Christians from Russia (Molokane). The village is named after Russian poet Mikhail Lermontov, often called “the poet of the Caucasus”. It is situated at 1,825 m above sea level.


The land is only a few hundred meters away from Tezh Ler resort (https://www.tezhler.am/). It is zoned as agricultural. With the authorization of the local authorities, it may be converted into a residential or commercial property. The land is not irrigated and used to be an orchard.


Distance from major cities:

  • Yerevan – 118km (1h. 46 min.)
  • Vanadzor – 14 km (16 min.)
  • Dilijan – 22.5 km (23 min.)

Opportunities

  • Residential development
  • Commercial development
  • Subdivide for land sale
  • Buy and hold
  • Lease
  • Tiny house, mobile home
  • Park RV or travel trailer
  • Small farm
  • Orchard
  • Vegetable farm
  • Beekeeping
  • Market
  • Gas station
  • Storage

FAQ

How does the closing process work? 

How does seller financing work?

How many people can be included on the deed?

Can the deed be made out to an LLC?

Can I build on the property?

Has a title search been done? 

Are taxes up to date? 

Can I visit the property?

Does the property have an address?

Has a survey been done?

Are RVs allowed? 

Benefits of Investment in Land

  • Tangible Asset
  • Increasing Demand
  • Limited Supply
  • Low Cost to Own
  • Low Cost to Maintain
  • Potential for Passive Income
  • Potential for Quick Profit
  • Flexibility to Build or Hold

7 Reasons for Investing in Armenian Property

1. 100% Foreign Ownership

Foreigners can be 100% owners of real estate in Armenia: they can acquire, hold, lease, sell, bequest and otherwise dispose of their property on equal basis with locals. Foreigners do not need to have a residence permit or otherwise show any links to Armenia. Agricultural land can be owned through a legal entity.

2. Fast & Safe Registration

The entire process of buying a property in Armenia can take only a few days. Armenia ranks very high – the 13th – among 190 countries on the World Bank’s “Registering Property” index which measures both the efficiency and the quality of the property registration system. By way of comparison, the U.S. ranks 39th, the U.K. – 41st, , France – 99th.

3. No Gift or Inheritance Taxes

Armenia does not have gift or estate taxes.

4. No Tax on Capital Gains

Capital gains on the sale of real property by an individual are generally not taxed. 

5. Low Property Taxes

Tax real estate tax rates are in the range of 0% to 1% of the cadastral value which is normally significantly lower than the market value.

6. No Stamp Duties

There are no stamp duties. Only small official fees are paid and they do not depend on the value of the real estate.

7. Residency & Citizenship

Armenia offers temporary, permanent and special residence to foreign business people as well as citizenship-by-exception to important investors. Investing in real estate may qualify you for such immigration benefits. 

Legal & Taxes

#1. Foreign Ownership of Real Property

#2. Ownership Structure

#3. Establishing Good Title

#4. Preliminary Agreement

#5. Purchase and Sale Agreement (Deed of Sale)

#6. Registration

#7. Fees and Taxes

#8. Currency Exchange & Anti-Money Laundering Regulations

#9. Inheritance

Armenia is a modern and fast-growing country with rich history and traditions, beautiful nature, excellent cuisine, low taxes, low crime rate, and low cost of living. Foreigners are allowed to be 100% owners of real estate in Armenia and can take advantage of investment opportunities. Armenia generally does not tax real estate transactions, capital gains, gifts, or inheritance. Real estate investment can also grant immigration benefits, such as residence or citizenship.


A knowledgeable local lawyer can help you navigate through the investment process, avoid pitfalls and minimize risks. Legal assistance can be very valuable in the process of due diligence checks, document review and preparation, payments, registrations, etc. Please contact us for a free evaluation of your case.

Country Overview

Header

Area SQ.KM.

29,700

PopulatioN

2,962,000

Capital:

Yerevan (1,075,000)

Religion:

christian (94.8%)

lANGUAGE: 

Armenian

LITERACY RATE: 

99%

Climate:

SUMMER 33C

WINTER 4C

Currency:

DRAM ($1 = 480 AMD)

Average Salary:

$387

GDP Growth (2019):

7.6%

GdP per capita:

$4,173

Unemployment:

18%

Inflation:

1.7%

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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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