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Business Opportunities in Armenia 2020  

Investment Opportunities in Armenia 2021 

15,051 Sq. M. (3.72 Ac) Vineyard for Sale in Mrgavan, $22,000

Property Description

This property of 15,051 sq. m. (3.72 ac) is a vineyard located in Mrgavan village, Ararat valley, with a beautiful view of mount Ararat (only 15 km to the north-east of the famous Khor Virap monastery). The property is zoned as agricultural. 

Details

Size

15,051 sq. m. (3.72 Ac)

Asking Price

$22,000

Asking Price per Sq. M. 

$1.46

Vineyard Area

15,051 sq. m.

Yield

20 t

Return on Investment (Est.)

10%

Grape Varieties

Kangun

Altitude

848 m

Temperature

-20° C (January); +35° C (July)

Hours of Sunshine per Year

2,700

Annual Rainfall

200-250 mm

Seller Financing

Yes

Parcel Numbers

03-061-0118-0004; 0006; 0007; 0008

GPS Coordinates (approx.)

39.983435; 44.543722

Annual Property Taxes

$46 (AMD 22,600)

Zoning

Agricultural

Access

E117 Highway

Location & Distance

Mrgavan is a small village with 2,053 inhabitants, mostly engaged in viticulture and growing of vegetables. It is connected to Yerevan via E117 highway of international importance, part of the new North-South Road program. The land is only 25 km away from Yerevan (31 km from the center of the city). There are two churches in the village, Holy Mother of God (1833) and St. James (1908).


Summers are hot and clear; the winters are short, freezing, and partly cloudy; and it is dry year round. Over the course of the year, the temperature typically varies from -6°C to 35°C and is rarely below -11°C or above 39°C. The climate is dry and continental with annual precipitation of 250-300 mm. 


Distance from major cities/towns:

  • Yerevan – 31.4 km (31 min.)
  • Artashat – 3 km (7 min.)

Opportunities

  • Vineyard
  • Greenhouse
  • Solar energy
  • Buy and hold
  • Poultry
  • Tiny house, mobile home
  • Park RV or travel trailer
  • Drying Farm
  • Orchard
  • Vegetable farm
  • Beekeeping
  • Raw Crop
  • Raise Livestock
  • Cool 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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2021.01.26 Investment
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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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