Buying property in Armenia
Buying a property in Armenia, a country with modern and growing infrastructure, can be considered one of the best options for moving abroad. It is possible to obtain one-year, 5-year, and 10-year residency through the purchase of property in Armenia, and the minimum capital required to receive it is between $19,000 and $95,000.
The low cost of living in Armenia as well as the 34.5% economic growth of this country in terms of real estate value in 2018-2019 are other reasons for increasing the desire to migrate to Armenia. Government of this country from real estate transactions, capital gains, gifts or inheritances; It does not receive taxes and foreigners are allowed to own 100% of their real estate in Armenia.
Conditions of Armenia for buying property
Armenia has a common border with Georgia, Azerbaijan, Iran and Türkiye. The capital of Armenia is the city of Yerevan and nearly three million people live in this country. The currency of this country is the dram, and the people of Armenia speak the Armenian language. You must be over 18 years old to buy a property in Armenia.
The process of buying a property in Armenia is done by transferring the ownership, signing the contract, written sale and detailed description of the property and the purchase price. Usually, the contract must be reviewed and approved by a notary public. In certain cases, an employee of the cadastre (registry office) can confirm the contract. Then the buyer has 30 days to register his property rights in the cadastre. Failure to register these rights within 30 days will invalidate the transaction.
