Investment property: Armenia

Updated 6 October 2026

Armenia: we show what makes sense for you to buy, vet the seller and the property, and close the deal.

Armenia is a compact market with a clear center of gravity in Yerevan: demand and prices concentrate in the capital, while the rest of the country is considerably less liquid for an investor. The market is open to foreigners with one important caveat: a foreign citizen can freely buy apartments and buildings, but cannot hold land directly in their own name - that requires an Armenian legal entity or a long-term lease. Armenia has no golden visa style program tied to property purchase, but residency in the country is generally accessible on several grounds, and owning property strengthens an application. The market has picked up noticeably in recent years but remains small in absolute terms.

We work from the goal: an apartment in Yerevan for rental, a base in the regions, or an asset paired with obtaining residency - these are different scenarios with different checks. We select the property, verify ownership and the chain of title, manage the transaction, and where land is involved, set up the correct structure through a legal entity. If residency is needed in parallel, we run the immigration track alongside the deal. We leave yield forecasts to sellers - our job is a clean and sensible purchase.

Property deals in Armenia: how they work

• A public services number from any office of the Migration and Citizenship Service: free and immediate, with a passport notarised in Armenian. Neither the notary, the bank nor the registrar will proceed without it.
• An extract from the Cadastre Committee: owner, area, encumbrances, seizures.
• A sale contract before a notary.
• Title registration with the Cadastre Committee.
• Payment through a bank: since 12 August 2026 Central Bank rules require banks to check a client's citizenship, address and tax residency and to stop payments that look like sanctions evasion.

What we do

• We obtain the public services number and passport translation.
• We check the property with the Cadastre Committee.
• We support the notarised contract and title registration.
• We prepare source of funds documents for the Armenian bank.

Our fee is in the price table; the total depends on the property and the deal structure.

Can a Russian citizen buy property in Armenia

Yes, and it is one of the simplest markets for Russians. A Russian citizen can enter Armenia even with an internal passport, live there visa-free for up to 180 days a year and buy an apartment or building in their own name without permits. There is one limit: a foreigner cannot take land into ownership directly. So a private house with a plot is bought through an Armenian company, and the plot under it can be taken on a long-term lease.

The bottleneck is money. Russian bank cards do not work in Armenia, and since 12 August 2026 Central Bank rules have required Armenian banks to check clients' nationality, address and tax residence and stop payments that look like sanctions evasion. So payment goes through an account at an Armenian bank opened in advance, with documents on the source of funds.

Apartment prices in Yerevan

Cadastre Committee data: in the first quarter of 2026 a square metre in an apartment building in Yerevan cost 482,100 drams on average, 3.8% more than the previous quarter. Outside the capital the market is much smaller and less liquid: buying is cheaper, but selling or letting is harder. More on districts in our Yerevan guide.

Purchase costs

The big money here goes not on fees but on mistakes: a property with an encumbrance, a developer without building permits, payment without proof of source that makes the bank hold the transfer. So the Cadastre Committee extract and the developer's documents are checked before the deposit.

Owner taxes: letting and sale

• Property tax - 0.05-1.5% of cadastral value a year; 2026 is the first year it is paid in full.
• Letting. 10% of the income, plus another 10% on the part of annual income above 60 million drams, about $164,900.
• Sale of an apartment by an individual is not taxed.

If the apartment is bought through an Armenian company, company rules apply, and letting and sale are taxed differently. More on the taxes in Armenia page.

Does a purchase give Armenian residence

No. Armenia grants no residence permit for buying property, including under the new law on foreigners in force from 1 November 2026. Under it, a one-year temporary residence permit comes first and permanent residence only after three years, on the grounds of work, own business, study, family or Armenian descent. See the Armenia residence permit page. Russian citizens often do not need residence at all: they live in Armenia visa-free for up to 180 days a year.

How to buy property in Armenia remotely

1. Power of attorney. Russia and Armenia are parties to the Minsk Convention on legal assistance, so a Russian notarial power of attorney is valid in Armenia without an apostille; it is translated into Armenian and the translation certified.
2. Public services number is obtained by the representative with the power of attorney and passport translation.
3. Property check using the Cadastre Committee extract: owner, area, encumbrances and arrests.
4. Notarised contract is signed by the representative, with payment through an Armenian bank.
5. Registration of title at the Cadastre Committee, after which you are the owner.

If the apartment is for letting, the lease and the tax on it can also be handled remotely, through a representative and the tax office's online account.

This topic in other countries

• Property in Turkey for foreigners
• Property in the UAE for foreigners
• Property in Georgia for foreigners
• Property in Cyprus for foreigners
• Property in Montenegro for foreigners
• Property in Spain for foreigners
• Property in Greece for foreigners
• Property in Bulgaria for foreigners
• Property in Thailand for foreigners
• Property in Germany for foreigners
• Property in Kazakhstan for foreigners

For this country: moving to Armenia, taxes in Armenia, Yerevan guide, Armenia residence permit, buying an apartment in Armenia.

A comparison of countries, prices and programmes is in our overview of where to buy property abroad.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · All country programs

FAQ