Citizenship for investment in Armenia: options for obtaining it
Armenia plans to grant citizenship for investment; a relevant program has already been developed and is under consideration by the government. According to the draft, foreigners who have contributed to the country’s development can apply for this status. And they can work in different spheres – science, medicine, and education. It can also be athletes and cultural figures.
The program of obtaining citizenship in exchange for investment includes 11 conditions, and the applicant only has to fulfill one of them:
1. Contributing an amount of $150,000 or more to the education or science support fund. The funds will be used to increase the foundation’s inviolable capital.
2. Allocation of 150 thousand dollars or more in the form of authorized capital for a company for a period of 10 years or more. An alternative is to buy stock in a local business.
3. Purchase of $150,000 or more in government bonds with a 7-year term or longer.
4. Investments in local real estate – the amount of investment must be from 150 thousand dollars. The object can not be sold within 10 years, and the cadastral value must be as close to the market value of the property.
5. Investments of 150 thousand dollars and above in the investment fund from the list approved by the government. The period of investment is from 10 years.
6. Creation on the territory of Armenia of business in the hi-tech sphere, whose capitalization will be not less than 1 million dollars.
7. Establishment in the country of a branch of an existing IT company with a capitalization of at least $100 million. The subdivision must have at least 500 employees in Armenia.
8. The organization of a venture capital fund, whose size is 80 million dollars or more.
9. Investment of $100k or more in a local IT company or venture capital fund.
10. At least 20 years of experience in high-tech companies. The company must be listed in New York, London and Frankfurt.
11. The applicant must actively cooperate for 5 years or more with international companies and organizations from the postal sector. In addition, it is necessary to invest at least 250 thousand dollars in this sector of Armenia.
If you fulfill one of the designated points, wishing to obtain citizenship of the country, which will allow visa-free travel to 65 countries. At the same time, there are no member countries of the European Union on the list, but such destinations as China, Turkey, Argentina, India, Indonesia, Brazil, and others are open. Moreover, the authors of the program note that the list of states can be expanded, as Armenia plans to become a candidate for EU membership. Thus, the country has all chances to increase its attractiveness to foreign investors.