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Investing in Armenia for Residency: A Comprehensive Guide to the Process
Armenia presents an excellent opportunity for foreigners seeking residency through investment in the country's economy. This comprehensive guide will provide you with a clear understanding of the process involved in investing in Armenia for residency.
Introduction to Residency for Investors in Armenia
While Armenia does not offer a formal residency by investment program like some other countries, its laws provide enough flexibility for investors to qualify for a 1- or 5-year residence permits. Moreover, Armenia is one of the most affordable options in the Eurasian region, making it an appealing choice for those seeking a relatively cost-effective pathway to residency.
One of the key advantages of investing in Armenia for residency is the ability to obtain a 5-year permanent residency upfront. Additionally, the low cost of living in Armenia makes it an attractive option. The country offers a high standard of living at a fraction of the cost compared to other European nations, allowing individuals to enjoy a comfortable lifestyle on a budget.
Types of Investments for Residency
Investing in a new or an existing business is one path to residency in Armenia. Once a suitable investment opportunity is identified, registering your rights as a shareholder and applying for a residence permit becomes a straightforward and swift process.
Another option for investors is real estate. Although simply purchasing and owning real estate does not qualify for residency, you can transform the land or property into a profit-generating business, such as renting it out, and fulfill the tax requirements that technically qualify you for residency.
Private Initiative for Residency by Investment
As an easy and proven way to get residency by investment is the private initiative of Vardanyan & Partners law firm. This initiative involves donating to an existing project, with the donated amount being directed towards a social entrepreneurship program supporting vulnerable rural families in Armenia. This approach simplifies the application process and allows for fully remote applications, catering to individuals who cannot physically be present.
Steps for Application
The application process for residency by investment in Armenia is straightforward.
• Register as a shareholder of the company registered for the program
• Book an appointment for residency application submission
• Submit the application at the Migration and Citizenship Service of the Ministry of Internal Affairs
• Get the residence permit within approximately two months
Eligibility Criteria for Residency by Investment in Armenia
To be eligible for residency through investment in Armenia, you must be at least 18 years of age. Additionally, you must possess sufficient finances to make the required investment.
Comparison with Other Countries
When compared to other European countries, Armenia offers an affordable pathway to residency. Countries like Latvia and Georgia demand significantly higher investment amounts for residency, making Armenia an appealing choice for individuals on a budget. You can refer to the table below to review the program differences across different countries.
Latvia | Georgia | Our program | |
|---|---|---|---|
Investment amount | €50,000 in equity capital plus €10,000 non-refundable contribution | $300,000 in real estate (non-agricultural land, apartment, commercial area, etc.) | <$10,000 in an existing business |
Residency criteria | Equity capital investment | Real estate purchase | Making an investment in an existing business |
Residence permit maintenance | No minimum requirement | No minimum requirement | No minimum requirement |
Citizensip option | Eligible for citizenship after 5 years | Eligible for citizenship after 10 years | Eligible for citizenship after 3 years |
Conclusion and Final Thoughts
Investing in Armenia for residency is a straightforward process that comes with a range of benefits. By following the guidelines provided in this comprehensive guide, you can successfully invest in Armenia for residency and experience all the wonders this beautiful country has to offer.
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.
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