Instead of being owned by a single owner, the vacation property belongs to multiple owners. You will be the co-owner of the property, and the size of your share will depend on the amount of your investment. 

Usage rights are allocated based on time. Each co-owner is assigned the right to use the property during a specific number of weeks each year. The usage periods are variable as they change every year through annual rotation.

Investment properties are upscale villas in the ski resort town of Tsaghkadzor, the most prominent vacation destination in Armenia. 

The total area of the house is 240 sq. m. (2,580 sq. ft). 

The daily management of the property will be carried out by a professional management company with 10+ years of experience and over $6M of assets under management. Decisions requiring the majority (or super-majority) of the votes of co-owners (shareholders) are those involving major physical changes to the property, large expenditures, changing usage rights allocations, selling the entire property and other particularly important matters.

Your shares are freely transferable and you may sell, donate, bequeath or otherwise dispose of them. Also, the vacation property may be sold in its entirety, provided that the sale is approved by the 3/4 vote of all the co-owners.

If you sell your share in the property you will not pay any taxes, including capital gain taxes, even if you sell the share at a gain.

Income in the form of dividends is currently subject to 10% withholding tax, however this rate is set to be lowered to 5%.

An Armenian residence permit grants you and your family members the right to unrestricted stay in Armenia, a free and open, democratic country with rich history and traditions, beautiful nature, and a very low crime rate. Residents can travel visa-free to Armenia and engage in any lawful activities, such as doing business, working (without a work permit), studying or simply retiring. A resident may invite other foreigners to Armenia. Residents enjoy  constitutional rights and freedoms, including rights to healthcare, social security, education, property and privacy rights, freedom of speech and religion. Armenian residents are not obliged to serve in the military.

If you wish to travel to other countries, holding a residence permit may be required to apply for a visa at an embassy in Armenia. However, the residence permit itself does not grant you the right to travel to other countries.

You may be eligible to apply for Armenian citizenship after three years of residency. The decision is normally made in 6-8 months after you apply. The law does not require that you stay in Armenia for a certain number of days. On the other hand, you will have to take a test on the knowledge of the Armenian Constitution in Armenian language, which presumes that you will have to show at least an elementary knowledge of Armenian language. Also, you have to keep in mind that each applicant's case is examined separately and citizenship is not issued automatically.

The only document you will have to present is a valid passport. There are NO requirements to provide proof of address documents, police clearance certificates, bank account statements etc.

The investment is structured in a manner to qualify you and your family members for residency. While we cannot guarantee the approval because certain factors  (e.g. background checks conducted by security agencies) are beyond our control, your investment will not be tied up in real estate until your residence permit application is granted. In other words, in the unlikely event that your residence permit is not granted the amount of investment will be returned to you within a short period of time.

The legal basis of the program consists primarily of the relevant provisions in the Law on Foreigners (Law No. 47 of Dec. 25, 2006, Official Gazette No. 3 (530) of Jan. 24, 2007, item 109) and the Law on Citizenship (Law No. 16 of Nov. 6, 1995, Official Gazette No. 1995/8). 

In particular, the Law on Foreigners provides that foreign individuals engaged in entrepreneurial and economic activities in Armenia may be granted temporary resident status (art. 15(1)(e)), permanent resident status (art. 16(1)(b)), or special resident status (art. 18(1)).

In addition to the amount of investment your budget will consist of legal fees and travel expenses. Please contact us for more information.