How to Secure Your Residency in Armenia through Investment: A Comprehensive Guide
In this comprehensive guide, I will walk you through the steps to secure your residency in Armenia through investment.
Introduction to Residency by Investment
Residency by investment is a process that allows foreign nationals to obtain permanent residency in a country by investing in its economy. This method is gaining popularity among investors looking for new opportunities and a way to relocate to a new country. Armenia, situated in the South Caucasus region of Eurasia, does not explicitly provide a government-endorsed residency by investment program with a specified minimum investment. Still, the existing legislation allows foreign nationals, irrespective of the investment amount, the possibility of obtaining a residency permit through economic contributions to the country.
Benefits of Obtaining Residency in Armenia
Armenia is a country with a rich culture and history and has a lot to offer for those seeking a new place to call home. Some of the benefits of obtaining residency in Armenia include:
- The ability to live and work in the country without the need for a work permit.
- Access to healthcare and education services.
- A low cost of living compared to other European countries.
- A favorable taxation system for individuals and businesses.
Eligibility Requirements for Residency by Investment in Armenia
To be eligible for residency by investment in Armenia, you must meet the following requirements:
- Be over 18 years of age.
- Invest in a new or an existing business.
- Have a legitimate source of funds for the investment.
- Be able to support yourself and your family financially.
Types of Investment Options for Obtaining Residency in Armenia
When considering investment-based residency in Armenia, there are a couple of ways to approach it:
Investment in Real Estate
Contrary to some misconceptions, purchasing real estate by itself does not automatically grant one residency in Armenia. There are no explicit minimum investment requirements tied to real estate. However, if the purchased property is rented out and taxes are consistently paid on the rental income, the possibility of acquiring residency becomes attainable.
Investment in Business Projects
Investing in either an existing or a new business project is another route towards residency. Notably, there are no defined minimum investment thresholds or job creation requirements. The primary goal is to foster meaningful investment that benefits the Armenian economy.
Step-by-Step Process for Obtaining Residency in Armenia through Investment
The process for obtaining residency in Armenia through investment involves the following steps:
- Choose your investment option: real estate or business.
- Gather the required documents
- Purchase the property or invest in the business.
- Apply for a residency permit at the Immigration Office
- Attend an interview
- Wait for the approval of your residency permit.
Documents Required for Residency by Investment in Armenia
The documents required for residency by investment in Armenia include:
- A valid passport,
- A notarized translation of the passport
- A copy of the visa (or e-visa) or the entry stamp in your passport if you are exempt from visa requirements.
- A medical check certificate
- Passport-sized photos (3)
- Certificate of ownership of share in the business
Advantages and Considerations of Investment-Based Residency in Armenia
Securing residency in Armenia through investment comes with a range of advantages, but there are also certain factors to bear in mind:
- You can live and work in Armenia without requiring a separate work permit.
- Compared to many European countries, Armenia has a lower cost of living.
- Armenia offers an attractive taxation system for individuals and businesses.
- Contrary to some misconceptions, there is no minimum investment requirement. The focus is on meaningful contributions that support the Armenian economy.
- Typically, the residence permit is valid for either one or five years and requires renewal upon expiration.
Frequently Asked Questions about Residency by Investment in Armenia
Q: Can I apply for citizenship in Armenia after obtaining residency through investment?
A: Yes, it is possible to apply for Armenian citizenship after holding a residency permit for three years. However, please be aware that other criteria may also need to be fulfilled, such as demonstrating knowledge of the Armenian Constitution through a test.
Q: Can I invest in multiple properties or businesses for residency purposes?
A: Absolutely, you have the flexibility to invest in various properties or businesses in Armenia. It is worth noting, though, there is no minimum investment threshold you need to reach for residency. Your investments should be meaningful and contribute to the Armenian economy, whether that's through rental income from properties or business revenue.
Q: Who can I bring with me if I obtain residency in Armenia?
A: When you secure residency in Armenia, you're not only making a move for yourself. The program allows you to bring your family along as well. This includes not only your spouse but also your children of any age. Furthermore, your parents, siblings, grandparents, and grandchildren are also eligible to join you. Their financial dependency on you does not affect this eligibility.
Tips for a Successful Application for Residency by Investment in Armenia
To increase your chances of a successful application for residency by investment in Armenia, follow these tips:
- Work with a reputable immigration lawyer to guide you through the process.
- Research the investment options thoroughly and choose the one that best suits your needs.
Obtaining residency in Armenia through investment is a viable option for those seeking a new place to call home. With a favorable taxation system and a low cost of living, Armenia offers plenty of benefits for foreign nationals. By following the steps outlined in this comprehensive guide, you can secure your residency in Armenia and start a new chapter in your life.
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.
Residents can sponsor extended family for residency (parents, siblings, grandchildren, etc.)
After living in Armenia for three years, citizenship can be obtained. Dual citizenship is allowed.
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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
As part of the preparation process, we will take care of translating your passport, printing photos, and filling out the necessary forms.
Residency for Family
You can sponsor your spouse, children, parents, siblings, grandparents, and grandchildren to obtain residency in Armenia.
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.
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.
Applicants can choose to apply for a temporary (1-year) or permanent (5-year) residence permit remotely or in-person.
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.
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.
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.
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.
LL.M. Georgetown University, licensed to practice in both Armenia (license no. 903) and New York (license no. 5148945)
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.
Where to find us
4/3 Pirumyanner, 4th Floor, Suite 12 , Yerevan, 0054, Armenia