Armenia special residency status

[oldtimer2]

Finally somebody who got it right! Yes, Armenia has worldwide taxation. In addition, interest from local bank accounts will be taxed. And tax rates are higher than in e.g. Bulgaria. From tax-perspective Armenia is pretty uninteresting.
Btw., crypto is taxed base on income tax (currently 21%). And then there is also this Question - Armenia - weird CGT which means laws are all but clear.
Beware for info you get from so-called immigration lawyers in Armenia. Many try to sell you their donation-projects which come without proper legal basis!

I went to visit one of the so called free zone sites in Armenia.. there was nothing to see. Anyway, maybe there is still zero tax if you set up an ICT company in a free zone / special economic zone in Armenia. However, I agree with backpacker - vaguely written laws will always cause headaches sooner or later.

 

[fortunespeculator]

Finally somebody who got it right! Yes, Armenia has worldwide taxation. In addition, interest from local bank accounts will be taxed. And tax rates are higher than in e.g. Bulgaria. From tax-perspective Armenia is pretty uninteresting.
Btw., crypto is taxed base on income tax (currently 21%). And then there is also this Question - Armenia - weird CGT which means laws are all but clear.
Beware for info you get from so-called immigration lawyers in Armenia. Many try to sell you their donation-projects which come without proper legal basis!

On that note backpacker which jurisdictions are interesting to you?

 

[backpacker]

On that note backpacker which jurisdictions are interesting to you?

Philippines, Egypt, Georgia. In that sequence.

 

[fortunespeculator]

Philippines, Egypt, Georgia. In that sequence.

We have business in Georgia but the feeling i get this time and from some time on from the pandemic times is that things are getting worse there,first they increased the residence requirement from 35 k usd to 100k usd,then they brought CRS effective next year.One of my friends even had trouble opening a bank account in TBC this time.

So not so sure about Georgia anymore .

 

[backpacker]

We have business in Georgia but the feeling i get this time and from some time on from the pandemic times is that things are getting worse there,first they increased the residence requirement from 35 k usd to 100k usd,then they brought CRS effective next year.One of my friends even had trouble opening a bank account in TBC this time.

So not so sure about Georgia anymore .

That's true and one reason why I posted it as the least favorited out of three.
I am one of the most vocal critics regarding Georgia in this forum. Soon territorial taxation will be a thing of the past -> Life after Georgia - Best low-tax country within EU
And with all the Russians things are not getting easier. However, one can use it to his/her advantage as long as it lasts; even if it just to sell low-quality apartments and shabby houses at insane prices

 

[Marzio]

Soon territorial taxation will be a thing of the past

It this will ever happen they will need to lower taxation to stay competitive.

 

[oldtimer2]

Georgia is riding high as a beneficiary of the war with a lot of Russian money and business moving in - but i expect it will evaporate after the war ends as the Russians head back home. If that happens before the next general elections in Georgia then I think the government will have a much more difficult economic situation to contend with and to try and push tax changes through in. I also guess backers of both sides of politics in Georgia benefit very nicely from the current tax laws so how far the government will go to bow down to EU tax agendas will be interesting to see as georgia is doing very well at the moment by walking a kind of middle road between Russia and the rest. This kind of ‘instability’ or uncertainty is why I think georgia can be a good short term option for people starting and early phase building of their business but don’t lock your business assets in here and have your exit strategy ready.

 

[khinkali]

@oldtimer2 I could not agree more. The biggest issue I see is capital flows. The Lari has benefited from significant remittances this year. The already high inflation will be worse if that money flows back out. The current tax system is quite convenient for "backers of both sides of politics" as you put it. The "Estonian model" for corporate income and the territorial model for personal income don't seem to be targeted by OECD or EU for now. The big pressures are about transparency, KYC/AML/VASP/etc. The Revenue Service don't have the tools to enforce worldwide income tax and I doubt they want to be given the responsibility. It's not as if they can wave a wand like Biden and hire "87,000 new IRS agents".

The middle road you talk of is absolutely key. Western media can interview student activists and Lelo Party MPs all day. Yes it would be nice to join EU and NATO and kick Russia out of the occupied lands but there seems to be a quiet, pragmatic majority who really don't want to rock the boat.

In terms of the original post in this thread, instead of the $100,000 Investment for a 10 year visa, people might want to look at the new $150,000 route to citizenship.

 

[Marzio]

people might want to look at the new $150,000 route to citizenship.

Do you have a link?

 

[khinkali]

@marzio the details are not finally confirmed but it looks like it will go ahead in 2023.

Here are some articles, with slightly differing details:

Armenian Govt. Unveils Decision to Offer Citizenship for $150,000 Investment in Property, Bonds, Shares, Funds, and More - Investment Migration Insider

Armenia: New Citizenship-by-Investment Program Forthcoming

Foreign nationals will be able to obtain Armenian citizenship by making a significant economic contribution in the area of economy, culture, athletics, and other areas. The law exempts such applicants from other naturalization requirements (i.e. knowledge of the Armenian language, residence in...

www.fragomen.com

Citizenship by Investment - Visa, Residence & Citizenship Lawyers in Armenia

Acquire Armenian citizenship through investment with minimal documentation. Enjoy visa-free travel to 65 countries. Dual citizenship is allowed. Citizenship by exception for donors, investors in real estate, businesses, government bonds, and IT.

armenian-lawyer.com

 

[backpacker]

Do you have a link?

It even has its own thread -> Armenia CBI

 

[kkein]

@marzio the details are not finally confirmed but it looks like it will go ahead in 2023.

Here are some articles, with slightly differing details:

Armenian Govt. Unveils Decision to Offer Citizenship for $150,000 Investment in Property, Bonds, Shares, Funds, and More - Investment Migration Insider

Armenia: New Citizenship-by-Investment Program Forthcoming

Foreign nationals will be able to obtain Armenian citizenship by making a significant economic contribution in the area of economy, culture, athletics, and other areas. The law exempts such applicants from other naturalization requirements (i.e. knowledge of the Armenian language, residence in...

www.fragomen.com

Citizenship by Investment - Visa, Residence & Citizenship Lawyers in Armenia

Acquire Armenian citizenship through investment with minimal documentation. Enjoy visa-free travel to 65 countries. Dual citizenship is allowed. Citizenship by exception for donors, investors in real estate, businesses, government bonds, and IT.

armenian-lawyer.com

Can Armenian pass get you into the russian federation and the -stans? (i guess not into Azerbaijan, but alas)

 

[khinkali]

@kkein yes, plus China and Iran. Some people are seeing it as a useful passport for places that are not served well by Western passports.