Armenia real estate?

[RustCohle]

Thinking of flying there (I'm an EUssr citizen), cashing out ~30.000$ from btc OTC, say my prayers that the exchange won't report me to EU or call the police on me, put the money in a tiny apart-hotel investment managed by a company, open an account there which should not be CRS complaint, get some tiny passive income with no stress. Anything I might be missing here? Is Armenia friendly with cash?

 

[Dasilva]

Been there last year. Banks are not very friendly if you don’t know someone from the inside. Next to that you don’t get much property for 30k (at least in Yerevan).

 

[RustCohle]

Been there last year. Banks are not very friendly if you don’t know someone from the inside. Next to that you don’t get much property for 30k (at least in Yerevan).

You're right, need a little more than that, but I think I should find something below 50k in a smaller touristic city. Any idea if I can buy with physical cash like in Georgia?

 

[Dasilva]

You're right, need a little more than that, but I think I should find something below 50k in a smaller touristic city. Any idea if I can buy with physical cash like in Georgia?

Yes, but i would advice to first visit the country and then make a decision. Outside Yerevan is not attractive to invest (in my opinion) also the fact that the country is in a political turmoil. Best option would still to buy something in Yerevan to protect your investment better. And yes cash is possible.

 

[glengoolie]

Armenia is "safe", information wise, for now. https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
But 30k won't get you much. it's a normal country, not some made up shithole from a TV movie you watched in the 80s.
"put the money in a tiny apart-hotel investment managed by a company" why though? wouldn't it be better to buy stocks, s&p500, paper gold, etf or something like that? this just sounds drunk friday night talk to me. personally i am not that much into small real estate. makes absolutely no sense to me. so much headache, so much wasted time for so little gain.

if we're talking bigger picture, ben mallah style, that is something i am looking for in the future because once you reach certain level of wealth, stock markets get tough to make big money in so you can only go invest directly into businesses or real estate where you can take 10M of your cash, take a 60M loan, flip the 70M property for 100M and you made some sweet cash on such a big deal. but 30k, that sounds like a headache to me, personally. time and energy could be better spent elsewhere.

 

[Golden Fleece]

Thinking of flying there (I'm an EUssr citizen), cashing out ~30.000$ from btc OTC, say my prayers that the exchange won't report me to EU or call the police on me, put the money in a tiny apart-hotel investment managed by a company, open an account there which should not be CRS complaint, get some tiny passive income with no stress. Anything I might be missing here?

Many good ideas here:
https://www.thefastlaneforum.com/community/threads/live-rent-free-in-multiple-countries.59964/