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Temporary, Permanent, Special Residence in Armenia

Armenia is an open and democratic country valuing individual freedom. The residence permit application process in Armenia is simple and can be done remotely with just a valid passport. Unlike other countries, Armenia does not require you to stay in the country. The residents enjoy rights similar to citizens, excluding political rights. Armenian residency offers a five-year visa and a path to citizenship in three years. It can also facilitate access to banking services and investment opportunities, including permanent property and land ownership rights. If you choose to become an Armenian citizen, dual citizenship is expressly permitted.

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.

The Ultimate Guide to Establishing Residency in Armenia

#1. Benefits and Advantages of Armenian Residency

With numerous UNESCO World Heritage Sites and stunning mountainous landscapes, Armenia's beauty is undeniable. The capital, Yerevan, offers an awe-inspiring view of the biblical Mount Ararat. The country's rapidly growing, free economy (12% GDP growth in 2022) presents investment opportunities in high-interest banking and the thriving real estate market (foreign land ownership is permitted). Yerevan is regarded as one of the world's safest cities, boasting low living costs, affordable healthcare, high-speed internet, and exceptional cuisine.

Obtaining Armenian residency offers numerous benefits, such as a five-year residence visa and a path to citizenship after just three years. Remote applications are also possible, and residents can engage in any lawful activities they choose. The application process is quick and straightforward, requiring minimal documentation. Armenia is an open and democratic society valuing individual freedom, with limited government interference. Armenian residents enjoy all the constitutional rights and freedoms granted to citizens, excluding political rights. These rights encompass healthcare, social security, education, property, and privacy, in addition to the freedoms of speech, conscience, religion, and belief. Moreover, residents are exempt from mandatory military service.


Armenia is an attractive option for those seeking residency without the need for physical presence in the country, as there are no minimum stay requirements. Residents can also obtain residency for their family members (spouse, minor and adult children, siblings, grandparents, etc.). The country maintains strong relations with the West (European Union, USA, etc.) and has a visa-free regime with nations such as Russia, Iran, and China. An Armenian residence permit offers increased freedom and options, acting as a valuable "insurance policy." It can also facilitate access to banking services and investment opportunities, including permanent property and land ownership rights. If you choose to become an Armenian citizen, dual citizenship is expressly permitted.

#2. Understanding Different Residency Categories: Temporary, Permanent, Special, and Others

Armenia offers various types of residence permits for different groups of people. Business owners, investors, and ethnic Armenians can apply for temporary (one-year) or permanent (five-year) residence permits. Both can be renewed indefinitely in their respective increments. Currently, temporary and permanent residence cards are issued as paper documents, not plastic cards.

Family members typically receive temporary residence cards, valid for up to one year, but not exceeding the main applicant's residency. Students obtain temporary residence cards for a maximum of one year, aligning with their study duration.

Workers and employees usually acquire one-year temporary residence cards, which also function as work permits. Applications are typically done online, with permits issued as plastic cards. Workers from Russia, Belarus, Kazakhstan, and Kyrgyzstan (Eurasian Economic Union) and their families do not require work permits. Instead, they receive "certificates of legality of stay" for up to one year, issued as plastic cards. In addition, Russian citizens can legalize their stay in Armenia simply by registering their address with the local police office.

Ethnic Armenians can also receive special residence permits in the form of passports. In exceptional cases, other foreigners who have contributed significantly to the Armenian economy or culture may also receive these permits.

#3. How Business owners can obtain a residence permit in Armenia

Residence permits come in different types, including temporary (1-year), permanent (5-year), and special (10-year) status. The latter is usually granted to owners of larger businesses that have created a substantial number of local jobs.

As for the corporate form and ownership size, a business owner can either be a "private entrepreneur" or a shareholder of a for-profit company, such as LLC, JSC, or cooperative. The law does not specify a minimum share size to qualify for residence, so even small shares like 5% or 1% can suffice, as long as the ownership is real.


The nature of the business is also important, as it determines the type of evidence and supporting documents required for the application. For instance, if you open a retail store, you need to have the necessary commercial premises, equipment, and inventory. If you are an IT specialist working from home, you need to show your workplace and explain the services you provide, who your customers are, how they pay you, and the results of your work.


Office space is not required, but having separate business premises may look better. However, it is not recommended to rent such a place just to make a good impression on the immigration officer.


As a business owner, you do not need a work permit or other permits to apply for residence.


To get a residence permit in Armenia, your business must be set up and operational. A foreigner is allowed and expected to start their business while on a regular visitor visa.


Minimum investment and income requirements do not exist, but the business income should be sufficient to cover the applicant's living expenses.


Having local employees will certainly make a good impression, but job creation is not a requirement to qualify for residency.


A business plan is not required, but a strong package of supporting documents (for example, business registration documents, lease agreement, contracts, invoices, payroll documents, licenses and permits (if any), website and marketing materials, tax returns, bank account statements, etc.) is important to convince the security officer of your eligibility for residency. Moreover, if your application ends up being rejected, these documents will serve the basis for appealing the rejection in court. It is not recommended to apply for a residence permit if the business is only in the planning stage as such application will be, almost certainly, rejected.


An immigration interview is typically held (in person or via a phone call) with the business owner or his attorney 2-3 weeks after the residence permit application is filed. The security officer will establish if the information submitted is accurate and if the business is a real operational business, among other things. They may check supporting documents, but they tend to rely more on verbal communication and take a common sense approach to assess the case.


Paying taxes is an important factor in demonstrating that the business is real and operational. If the business does not generate income or does not pay taxes on its income, the application is likely to be rejected.

#4. HOw Digital NOmads and Frelancers can obtain a residence permit in Armenia

Digital nomads, freelancers and owners of online businesses are also eligible to apply for a residence permit in Armenia. The law does not require applicants to have local clients or show that their income comes from Armenian sources. The same rules that apply to regular business owners (see section #3) also apply to freelancers and online business owners. To qualify for a residence permit, freelancers and online business owners need to be registered as taxpayers in Armenia, such as a sole proprietor or LLC owner.

It is important to note that you will need to report at least some income and pay taxes in Armenia. The tax rates will depend on your income or sales, with independent service providers typically opting for the "turnover tax" regime, which levies a 5% tax on reported income. Under the "microbusiness" regime, it may be possible to pay 0% tax if your annual income does not exceed around $60,000, though not all types of activities qualify for this treatment. You may also be subject to social (pension) contributions and military stamp duties after your residence permit is issued.

For example, let us say you offer online classes. Since educational services can be treated as a "microbusiness," you will be exempt from taxes on income of up to around $60,000 per year, and you will not have to make social (pension) contributions. However, you will need to pay monthly military stamp duties of $4 to $25 after your residence permit is issued.

On the other hand, if you are a business consultant, consulting services cannot be treated as a "microbusiness," so you will have to pay a 5% turnover tax on your income of up to $280,000. If you report income from consulting services of $1,000 per month, you will pay $50 in turnover tax (5% of $1,000) and a flat fee of $13 in income tax. After your residence permit is issued, you will also need to pay a flat social (pension) contribution of $13 and a monthly military stamp duty of $5. Your total monthly tax bill will be $81 ($50 + $13 + $13 + $5).


Microbusiness

Turnover Tax

Income Tax

Annual Sales

< $60,000

< $280,000

> $280,000

Tax Rate

0%

$13 per month + 5% on sales

18% on profit

Social (Pension) Contribution

0

$13 per month

$188 per month

Military Stamp Duty

$4-$25 per month

$4-$25 per month

$25 per month



#5. How Investors and Donors can obtain a residence permit in Armenia

Armenia's immigration laws are quite liberal, and there are multiple ways to become a resident. You can invest in an existing business or rental properties or engage in agriculture, such as vineyards or orchards. In short, being involved in any business, regardless of its size or nature, should qualify you for Armenian residency.
Investors can qualify for a residence permit in Armenia under the same terms as business owners. The law does not require the applicant to be actively engaged in the day-to-day management of the business. Therefore, the same rules that apply to regular business owners (see section #3) also apply to investors.

Real Estate Investment: Simply owning real estate does not qualify you for a residence permit. However, you can 1) develop real estate or 2) purchase and operate rental property. You will qualify for residency if you turn the property into an income-generating business asset. You still need to register as a taxpayer in Armenia (e.g. as a sole proprietor, LLC owner, etc.) and pay taxes on your income (rental income is typically taxed at 10%).

Investment in an Existing Business: You can also qualify for residency by purchasing an existing business or a share in an existing business. Such transactions are usually more complicated due to the due diligence checks and appraisal matters.

For those who prefer not to establish their own business in Armenia, we offer two alternative paths to secure residency in the country: by making a $6,000 donation to a rural development project (the donation route) or by investing a total of $10,000 (the investment route). In the case of the investment route, $8,000 will be dedicated to government bonds that yield an estimated annual return of 7%, and the remaining $2,000 will be invested in a rural development project. If you are interested in learning more about these options, please contact us, and we will provide you with more information.

#6. Work Permits and Residencey for Foreign employees and contractors

As a general rule, foreign workers, including both employees and contractors, who are hired by an Armenian employer need to have a work permit and a temporary residence permit before they can start working. The Immigration Office first conducts a labor market test to ensure that there are no suitable local citizens for the position in question. Once the work is authorized, a temporary residence card will be issued to the employee in the form of a plastic card, which is valid for up to one year and also serves as a work permit.

There are some exemptions from work permit requirements, such as highly skilled foreign specialists, business owners, executives, citizens of Russia, Belarus, Kazakhstan, and Kyrgyzstan (members of the Eurasian Economic Union), and certain other categories of workers.

Working without a work permit or a residence permit may result in penalties for the employer and visa revocation for the employee. The work permit and the residence permit may also be revoked if the employment agreement is terminated. For more information on work permits, please see here.

#7. How Students can obtain a residence permit in Armenia

Students of educational institutions at the primary, secondary, and higher levels can qualify for temporary residence permits that are issued for the duration of their study program. To support their residence application, the educational institution typically provides an admission letter and a contract. These documents should specify the dates of the study program, which typically correspond to the academic year for which the admission has been granted.

#8. How Ethnic Armenians can Qualify for Residence

Individuals of Armenian descent/origin can qualify for all types of residence permits, including temporary, permanent, and special, as well as Armenian citizenship. However, certain formal requirements must be met to establish Armenian origin. Simply having an Armenian name or speaking Armenian fluently is not sufficient. To prove Armenian ethnicity, you will need to produce a document, such as a baptism certificate issued by a church organization, that confirms your or your parent/grandparent's Armenian ethnicity. In certain cases, government-issued documents, such as birth certificates or family records, may also mention Armenian ethnicity. A list of churches whose certificates are generally accepted by the government is published on this website (see Annex 4). If your church is not on the list, you may need to obtain an additional certificate from the Mother See of Holy Etchmiadzin.

While there is no complete list of documents that may be submitted to prove Armenian origin, it is important that the document be attested (legalized) by the Armenian embassy/consulate in the country where the document was issued. For example, the Armenian embassy must certify the baptism certificate before it can be used to apply for citizenship.

Some ethnic Armenians may prefer a residence permit over citizenship, particularly if it is difficult to produce a legalized birth certificate. Additionally, obtaining a residence permit rather than citizenship can help individuals avoid registering with the military office or avoid having to renounce their current citizenship, particularly if their country of origin does not allow dual citizenship.

For more information on obtaining Armenian citizenship by ethnicity, please refer to this page.

#9. Alternative Ways to Qualify for Residency

Armenia's immigration laws are quite liberal, and there are multiple ways to become a resident. You can invest in an existing business or rental properties or engage in agriculture, such as vineyards or orchards. In short, being involved in any business, regardless of its size or nature, should qualify you for Armenian residency.


Purchasing an existing business or a share in one is another way to qualify for residency, but it is typically more complicated due to due diligence checks and appraisal matters. You can find offers to invest in small and medium-sized businesses at https://investin.am/investment-projects/, and a few large companies are listed on the Armenian stock exchange at https://amx.am/en/instruments/shares.

Just owning real estate will not qualify you for a residence permit, but turning the property into an income-generating business asset can do the trick. Typically, this is done by purchasing property and renting it out, You will still have to register as a taxpayer in Armenia and pay taxes on your income.

Finally, owning a small vineyard, orchard, or other agricultural operation can also qualify you for residency. Owning vacant land by itself is not sufficient, but purchasing an operational farm will likely be enough. While the size of the operations is not very important in principle, the profitability of the business will largely depend on its scale.

#10. Family Members and Dependents

If you hold an Armenian residence permit, your immediate family members may also be eligible for residency. Specifically, you can sponsor your spouse, your children (whether they are minors or adults, with no age restrictions), and your parents (also with no age restrictions). You do not need to demonstrate that your family members are financially dependent on you.Furthermore, if you have a permanent (long-term) or special residence permit, you can also sponsor your siblings, grandparents, and grandchildren.


A legalized (Apostille or consular legalization) birth or marriage certificate (or equivalent document) needs to be shown to establish the family relationship.

Family members are normally issued only temporary (one-year) residence permits even if the main applicant has a permanent (five-year) or special (ten-year) residence permit or is an Armenian citizen. In the last two cases (i.e. where the main applicant is an Armenian citizen or has special residence) the family members can also qualify for a 5-year permit if they have already been residents of Armenia for three years.

It is generally not possible to apply simultaneously for the residency of the main applicant and his/her family members. Instead, family members file their applications after the main applicant's residence permit is issued. Hence, there is a need to properly plan the application process in advance, especially when it comes to extending the permits.

#11. Special Residency (Special Passport)

The special residence permit (passport) has a validity of ten years and can be extended indefinitely for 10-year increments. It looks different from temporary/permanent residence permits as it is issued in the form a passport, not a card. It allows its holder to travel freely to and from Armenia without a visa, to live, work, study, do business and engage in any other lawful activity in Armenia without work permits or other papers. One notable advantage of the special passport is that its holder can own agricultural and other land directly in his/her own name, without the need to establish a legal entity.

In practice special passports are issued to foreigners of Armenian origin, i.e. ethnic Armenians. In exceptional cases special passports can be issued to non-Armenians who are engaged in economic or cultural activities in Armenia. Children under 16 can also get special passports. The time required to obtain a special passport is around 60-90 days.

#12. Step-by-Step Process. Timeline. Documents. Costs

The steps, timeline and documents will depend on the nature and legal basis of your application. By way of illustraion, if you are considering obtaining an Armenian residence permit as an investor, you will need to follow these steps:

Step 1: Either travel to Armenia or send the necessary documents (including a power of attorney and the original passport) to Armenia for remote application.
Step 2: Transfer the investment amount (takes 2-5 days).
Step 3: Register the investor's share with the government (takes 2-3 days).
Step 4: Submit your residence permit application. For remote applications, mail your original passport. Your passport will be returned after a few days (1-2 days for in-person applications or approximately 2-3 weeks for remote applications).
Step 5: Await the examination and approval of your residence permit application (takes 40-50 days).
Step 6: We will collect your residence permit and deliver or mail it to you (takes 1 day).

The entire process typically spans 2-3 months, depending on whether you apply in person or remotely and your specific circumstances.

To apply, you will need a valid passport; a medical check certificate and photographs may also be necessary. You will need to provide proof of address or employment, police clearance certificates, bank account statements, reference letters, health/travel insurance, or tickets.

Remember to account for legal fees and other expenses, such as government fees, mailing, translation, and notarization. For additional information, do not hesitate to contact us.


Please note that currently the Immigration Office requires all appointments to be scheduled in advance through an online booking system (https://e-request.am/en). The waiting periods may be of a few weeks or even longer. This is an important factor to consider in planning for extension. 

#13. Remote Applications

If you are applying for an Armenian residence permit, your lawyer or representative can file the application remotely. However, on the day of the application, we will need to present your original passport to the immigration officer. This means that if you are applying remotely, you will need to mail your passport to Armenia via a courier service like FedEx, DHL, or UPS for a few days. Your passport will be mailed back to you immediately after the application is filed.


Applications for temporary (1-year) or permanent (5-year) residence permits must be filed at the Immigration Office. Please note that Armenian embassies typically do not process residence permit applications, except in the case of a special 10-year residence permit. 


Applications for special (10-year) residence permits can be filed at the Immigration Office or at an Armenian embassy abroad. It is possible to file an application for a special passport remotely by giving a power of attorney to your representative, however you are required to be physically present in Armenia at the time of the application. 

#14. Physical Presence

There are no requirements to spend a certain number of days in Armenia to maintain your residence status. It is generally possible to apply for and extend your residence permit remotely, please check the previous section for more details.

#15. Tax Consequences of Becoming a Resident

It is important to note that obtaining a residence permit (temporary, permanent, or special) does not automatically make you a "tax resident." Tax residency is regulated by tax laws, not immigration laws. In general, you become a tax resident of Armenia by spending more than 183 days in the country in a year. This means that it is possible to hold a residence permit without becoming a tax resident, and vice versa.


Please note that if you are a hired worker or a "private entrepreneur" in Armenia you may have to start make social (pension) and military contributions once you obtain a residence permit.

Armenia does not typically tax individuals' capital gains on the sale of securities or real estate, or other assets, regardless of whether those gains are generated in Armenia or elsewhere. Certain forms of income, such as insurance and pension payments, are also exempt from taxes. Additionally, there are no taxes on gifts, inheritance, or net worth.


However, there is no general rule that exempts a tax resident from paying taxes on income generated outside of Armenia.

You may also be able to obtain documents such as proof of registered address in Armenia, a social security number, a taxpayer identification number, or a tax residency certificate.

#16. Address Registration & SSN

Armenian residents are generally required to have a registered address․ Registered addresses are used for serving official notices and other purposes. Foreigners typically have 15 days after the residence permit is issued to register their local address and 7 days to register the change of address with the local police office. To register a local address you will need to show proof that you reside in Armenia. It can be a certificate of ownership or lease of a residential property or the owner's consent to the registration. If none of these documents are available you may request the local police to make a factual check (normally takes up to two weeks) and confirm that you actually reside at the address in question.


After your address is registered you may apply for and get a social security number (SSN), which may be useful in your dealings with various government agencies, banks, employers, etc. The SSN is issued in the form of a separate paper and it is issued immediately upon application by the local police office.

#17. Renewal & Extension

Residence permits have to be renewed (extended) from time to time. Temporary permits are renewable every year, while permanent (long-term) and special residence permits are renewable every five and ten years respectively.

The application for renewal shall be filed not later than 30 days before the expiration of the current permit. In case of special permits it is recommended to apply at least 60 days before the expiration. If there are family members (dependents) the main applicant should apply even earlier to allow for sufficient time to process both his/her and the dependents' applications.


Please note that currently the Immigration Office requires all appointments to be scheduled in advance through an online booking system (https://e-request.am/en). The waiting periods may be of a few weeks or even longer. This is an important factor to consider in planning for extension. 

The procedure of renewal is similar to that of the original application. For example, a business owner would still have to be interviewed by an immigration officer, show proof of active business operations, etc. (see section 3 above for more information).


It is not required to spend a certain number of days in Armenia to extend the residence permit. Moreover, it is possible to apply for extension remotely.

There are no restrictions on how many times a residence permit can be extended.

#18. Residence Card: Issuance, Replacement

Temporary and permanent residence cards are issued in the form of separate paper documents, with the exception of work-based temporary residence cards which are issued as plastic cards. A residence card has the photograph of its holder and serves as an identification document. You may keep it in your passport or carry it separately. It is not allowed to laminate the paper residence card as it may become necessary to write annotations or put stamps on the card. The residence card can be collected by your lawyer or other authorized representative and mailed to your foreign address if you are not present in Armenia.


The residence card also shows the number of your passport. If you change your passport it may be needed to also change your residence card (or the immigration officer will make an annotation on the card). If your residence card is damaged or lost you can apply for its re-issuance. In that case you will have to pay a government fee of 12,000 drams (around $30) and the new card should be issued within a few days.

#19. Government Fees

Government fees range from around $210 to $300, depending on the residence permit type. Immediate relatives of Armenian nationals are generally exempted from government fees. Reduced rates apply to US nationals. Government fees are refundable in the event the application for residence permit is rejected (but not if withdrawn by the applicant).


Please note that in addition to the government fees you may have to incur other expenses related to translation of documents, medical checks, photographs, etc. Legal fees will also be applicable if you plan to hire a lawyer to represent you before the immigration authorities. 

Residence Permit

Temporary (Short-Term)

Permanent (Long-Term)

Special Passport

Validity 

1 year, extendable

5 years, extendable

10 years, extendable

Government Fees (Approx.)

$270 (AMD 105,000)

$360 (AMD 140,000)

$390 (AMD 150,000)

#20. Rejection & Appeal

The application of a residence permit is normally rejected if the security officer concludes that the applicant misrepresented his situation, provided false documentation, poses a risk to the security of the country, etc. The rejection letter is mailed to the applicant's address and grants him/her a certain period of time (normally two months) to leave the country voluntarily.


If the applicant fails to leave the country voluntarily the Immigration Office will initiate deportation proceedings and will send the case to the court. The foreigner may also be arrested and placed in custody for up to 90 days. Deportation can also result in a three-year ban to enter the country.

The alternative to leaving the country is to appeal the rejection in court. After the case is properly filed with the court the foreigner should be allowed to stay in the country while the case is pending. Court proceedings may be quite lengthy and take many months or even years.


If the application is rejected the applicant can re-apply for a residence permit only after one year.

#21. Visa to Armenia

As explained in section 13 above, it is possible to apply for and get a residence permit remotely, without traveling to Armenia. However, more frequently an applicant will visit Armenia first and will apply for a residence permit while in the country. It may be necessary to obtain a visa (e-visa or sticker visa) before you are allowed to enter the country. For more information on visa requirements please check this page.

#22. How to Become a Citizen of Armenia

If you have been living in Armenia permanently for the past three years, you are eligible to apply for Armenian citizenship. However, the term "permanent resident" is not clearly defined by the Citizenship Law. In practice, the police will accept and process a citizenship application if the applicant has maintained an Armenian residence permit (temporary, permanent, or special) during the three-year period.

In addition to the residency requirement, you will need to pass a test on your knowledge of the Armenian Constitution. This is a multiple-choice test with 33 questions, and you only need to answer 17 of them correctly to pass. The test is administered in Armenian, and you will be asked to fill out a biographic form in Armenian as well. This means that you may need to spend some time (perhaps a couple of months) learning basic Armenian.

It is important to note that meeting the above requirements does not guarantee that your citizenship application will be approved. If your application is rejected, you can reapply after one year. Additionally, if your application is rejected, you can appeal the decision in court. However, administrative court proceedings are likely to take up to one year or even longer.


Armenia specifically allows dual citizenship, and you will not be required to renounce any other citizenship.

Please note that only the Armenian passport is a travel document, you cannot use an Armenian residence permit to travel to other countries. As of 2023 Armenian passport ranks 80th according to Henley & Partners Passport Index, and allows visa-free travel to 65 countries, including places with limited access to nationals of Western countries, such as Russia, China, Iran, Uzbekistan etc. The EU/Schengen countries still have a visa regime with Armenia but visa-free travel may become possible in a few years. The United States offer 10-year B visas to Armenian citizens as well as E-2 business visas.

#23. Investment in Real Estate, Businesses, Bank Deposits, and Bonds

The real estate market in Yerevan has experienced rapid appreciation in recent years, with the average price of one square meter in central Yerevan rising from $885 in December 2016 to $1,651 in May 2022, an increase of 87% in less than six years. This growth can be attributed to the growing economy, increased tourism, and demand for new housing among locals, as well as subsidized mortgage loans and the appreciation of the local currency in 2022.

The process of purchasing a property in Armenia is efficient and quick, with the country ranking 13th out of 190 countries on the World Bank's "Registering Property" index. It is even possible to buy properties remotely without visiting the country.

Armenia does not have gift or estate taxes, and capital gains on the sale of real property by an individual are generally not taxed. Property tax rates range from 0% to 1% of the cadastral value, which is normally significantly lower than the market value. Stamp duties are not applicable, and only small official fees are paid, which do not depend on the value of the property. Rental income up to 60 million Armenian drams (approximately $155,000) per year is taxed at 10%, and rental income exceeding that amount is taxed at 20%.

Foreigners can own 100% of real estate in Armenia, and they have the same rights as locals to acquire, hold, lease, sell, bequeath, and otherwise dispose of their property. There is no need for foreigners to have a residence permit or any other links to Armenia. Overall, the real estate market in Armenia offers great opportunities for foreign investors seeking to diversify their portfolio and take advantage of a growing economy.


You might want to consider buying off-plan property from real estate developers and see non-taxable capital gains of 20-30% after the construction is completed. There are many construction projects to choose from, and you can find more information on websites such as Armeconombank, ACBA Bank, Inecobank, Ameriabank, Red Invest Group, and Construction.am.


Land, Vineyards, and Orchards


Lands in Armenia are classified according to their designated usage (zoning), including agricultural, residential, industrial, energy, forest, and more. Foreigners can directly own household and gardening plots, lands designated for construction and maintenance of a homestead, and residential and commercial development lands. Other types of land, such as agricultural land, can be owned through a legal entity. Special residence permit holders can own all types of land. There are some restrictions on building on agricultural land, although small buildings up to 30 sq. m. are allowed. In most rural communities, structures of up to 300 sq. m. can be built on land exceeding 10,000 sq. m. It may also be possible to change the zoning of land with the help of the local municipality.

If you are interested in agricultural investments, you might consider fruit farming or wine growing, which are one of the oldest economic sectors in Armenia, with over 60,000 active entities in this industry. The most popular forms of cultivation are grape, apricot, and peach. Between 1998 and 2016, the territory of orchards doubled, and the yield increased by 14.5% between 2008 and 2017 due to implementation of innovative technologies. You may choose to buy an existing farm or set up a new one, and you may be eligible for a government subsidy. Two types of subsidies are available: compensation of up to 50% of costs incurred in setting up a vineyard (orchard) or a low-interest rate loan (2%) for a maximum amount of $2.9 million for vineyards, $5 million for orchards, and $4.7 million for berry farms.


Bank Deposits, Stocks, Bonds, and Gold


You may qualify for residency in Armenia by purchasing an existing business or a share in one. However, such transactions can be more complicated due to the necessary due diligence checks and appraisal matters. If you are interested in investing in small and medium-sized businesses, you can find offers on the Invest in Armenia website: https://investin.am/investment-projects/. The Armenian stock exchange also lists a few large companies: https://amx.am/en/instruments/shares.

Although few companies are listed on the Armenian stock exchange, many issue corporate bonds with relatively high yields (in excess of 11% in local currency and 6% in USD). The Armenian government also issues both short-term and long-term bonds, typically with annual interest rates above 10%. You can find more information on the stock exchange website and at moneymarket.am.

Interest paid on bank deposits in Armenia is relatively high, with annual rates up to 10% for local currency deposits and 5% for USD deposits. Deposits can also be made in euros and Russian Rubles, and information on current deposit interest rates is available at moneymarket.am. Although the Armenian dram has appreciated against the USD by around 20% in 2022, exchange rates have been mostly stable over the last few decades. Banks typically withhold a 10% tax on interest payments. You can also find information on current prices of gold bars (ranging from 1 gram to 1,000 grams) at moneymarket.am. Most banks offer safety box services, allowing you to purchase gold bars and keep them in a secure location.

All banks in Armenia are licensed and closely regulated by the Central Bank of Armenia. A deposit insurance system is also in place, covering deposits up to AMD 16 million (around $41,000) for local currency deposits and AMD 7 million (around $18,000) for foreign currency deposits. However, the system has never been used as there have been no bank runs in recent history.

#24. Company Registration in Armenia

Setting up an LLC in Armenia is a quick and uncomplicated process, which can be completed entirely remotely. There are no limitations on foreign ownership or management of companies, no minimum investment requirements, and no renewal fees to worry about. Shareholders are afforded limited liability and can utilize the LLC structure for purposes of asset protection or tax optimization. Armenia also boasts favorable tax regulations for small businesses, with many being completely exempt from taxes. Furthermore, IT companies can benefit from special tax incentives.


Benefits: Registering an LLC in Armenia has several advantages, including:

Fast registration process (typically within a couple of days)
Shareholders enjoy limited liability
Minimal documentation requirements (only passports are needed)
No restrictions on foreign ownership or directorship
No minimum capital requirements
No need to engage local partners, agents, managers, secretaries, etc.
Permanent existence with no renewal fees
Bank accounts available in various currencies
No restrictions on repatriation of profits and capital


For more information, please see the page on incorporation.

Taxation: Armenia offers favorable tax rates for small businesses. Many types of businesses with annual sales below AMD 24 million (equivalent to around $62,000 as of March 2023) are exempt from income tax. Other businesses with annual sales below AMD 115 million (around $297,000) are also exempt from income tax but are subject to a sales tax (turnover tax) of 5% or less. Newly registered IT companies and firms operating in free economic zones, industrial zones, and certain border towns and villages are also eligible for tax exemptions.

An LLC registered in Armenia is considered a tax resident of Armenia and is taxed on its worldwide income. Tax rates are generally the same regardless of whether income comes from Armenia or another country.


Asset Protection: An Armenian LLC can be used as a holding company for assets. Setting up a tax-exempt "microbusiness" LLC can be advantageous for receiving passive income, such as dividends, of up to AMD 24 million (around $62,000) annually. Additionally, income from the sale of financial assets is not subject to taxation, regardless of the amount. However, it is important to avoid being classified as an "investment company," which requires licensing.


While it is possible to use an LLC to own real estate in Armenia or other countries, Armenian tax laws generally make it more beneficial to own such property as an individual to avoid capital gains tax on sales between individuals.

Armenian law does not recognize trusts, so assets are typically held through an LLC or other corporate structures such as a joint-stock company, foundation, or consumer cooperative. Nominee and corporate shareholders and directors are allowed, but companies must file annual statements disclosing the ultimate beneficial owners (UBO).

#25. Banking, Insurance, Driving License, Marriage Registration

Banking: Armenia has a well-established banking system, with 18 privately owned banks regulated by the Central Bank. Among them, HSBC is an international bank, while many local banks have foreign capital from countries such as Russia (VTB), France (ACBA), Lebanon (Byblos, ID), Argentina (Converse), Iran (Mellat), and others. Armenian banks offer modern banking services, including online and mobile banking, debit and credit cards (Visa, MasterCard, AmEx), accounts in various currencies (USD, EUR, CHF, GBP, CAD, AED, RUR, JPY), gold metal accounts, wealth management, private banking, and safety deposit boxes. They also have low charges, strong privacy, and high-quality customer service.

Health Insurance: In Armenia, individuals are not required by law to have health insurance. However, all six licensed insurance companies offer health insurance, with annual rates usually ranging between $300 to $600 per person. These companies are SIL Insurance, Rosgosstrakh-Armenia, Nairi Insurance, Ingo Armenia, Reso, and Armenia Insurance.

Driving License: Obtaining an Armenian driving license is a two-step process that involves taking a computer-based driving theory test and a practical driving test. The theory test questions are available in Armenian, Russian, English, Arabic, and Farsi. There are a total of 1,116 questions, and the test consists of 20 questions with only two incorrect answers allowed. To register for the test, you can visit the website roadpolice.am and wait for notification about the time and place of the test. If you pass the theory test, you will be allowed to take the driving test immediately. In addition, it is possible to exchange your foreign driving license for an Armenian one if your license is issued by a country that is party to the 1968 Vienna Convention.

Marriage Registration: Foreigners can get married in Armenia without any requirement to live or have ties to the country. The registration process is typically quick and can be completed in as little as two business days. However, both individuals need to provide a "non-marriage" certificate from their country of permanent residence to confirm their marital status. If a non-marriage certificate cannot be obtained, an affidavit may be used instead. These documents must be legalized, either by Apostille or consular legalization, and translated into Armenian before they can be submitted to the Armenian Ministry of Justice. Remote registration with a power of attorney may also be possible.

Contact Us

We will be happy to answer your questions. Please fill out this form and we will be in touch soon. 

2023.03.20 Residence
I wish to obtain: *
I wish to apply:
Family members and other dependents
To qualify for residency I am willing to:
I am also interested in:

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. 

  • 10+ years of specialized experience in immigration and busines setup.
  • Fast and fluent communication in English and Russian. 24-hour response policy.  
  • Secure online payments. No hidden charges. 
  • Licensed and insured local attorneys. 

Where to find us

4/3 Pirumyanner, 4th Floor, Suite 12 , Yerevan, 0054, Armenia

+37499001167

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