Do You Want To Reside In Armenia?

There are many reasons you may want to reside in Armenia. The Republic of Armenia is located in the mountainous Caucasus region between Asia and Europe. Culturally, historically, and politically, Armenia is European. The democratic country has a rapidly growing, free economy with high-interest banking and real estate opportunities. Its capital, Yerevan, is a safe city with low living costs, fast internet, and affordable healthcare.

Armenia is a great option if you are looking for a residency without a physical presence requirement. It has no minimum stay or visit requirement to maintain your residency.

You can apply for temporary (one-year) or permanent (five-year) residence permits, both of which are renewable. The application process is simple and only requires a valid passport.  It is possible to apply remotely, and an application is typically processed within 80 days.

Armenia offers a five-year visa and a path to citizenship in three years. If you choose to become an Armenian citizen, the government expressly permits dual citizenship.

Start a Business

You can be either a “private entrepreneur” or a shareholder of a for-profit company, such as an LLC or cooperative. You are not required to have a physical office or hire local employees, but those factors may help you prove that your business is fully operational.

The income from your business should be sufficient to cover your living expenses, and you must pay taxes on your business income. The corporate income tax rate is 18%.

It is important that you have the business up and running before you apply for residency. You should bring supporting documents (business registration, lease agreement, invoices, payroll documents, marketing materials, tax returns, etc.) to your immigration interview.

Conduct Business in Armenia

If you are a digital nomad, freelancer, or online business owner, you can apply for residency. However, you must register as a taxpayer in Armenia and report at least some income there.

The tax authorities recognize “microbusinesses,” which only pay taxes on annual income over $60,000. If you do not qualify as a microbusiness, you will have to pay a $13 per month flat income tax fee and a 5% sales turnover tax on your annual income up to $280,000. Income above $280,000 is taxed at 18%. Additionally, as a resident, you may have to make social (pension) contributions and pay monthly military stamp duties.

Buy Income-Generating Real Estate

You cannot get residency by simply buying real estate. You must turn the property into an income-generating business asset. Most people choose to rent out their property and pay taxes on their rental income (typically taxed at 10%). Another option is to make a donation to a rural development project or invest in an agricultural business.

Prove Armenian Descent

If you can prove you, your parent’s, or your grandparent’s Armenian ethnicity, you may qualify for residency. You will need to provide a legalized government or church document (such as a baptism certificate) confirming your Armenian origins.

For more details about Armenia’s residency requirements, please visit the official website for the Ministry of Foreign Affairs of The Republic of Armenia.

Armenia is just one of the countries with an attractive residency program. For some other options you should read our related articles: Should You Become A Resident Of Latvia? and Is Residency In Ecuador Right For You?