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Armenia May Offer Citizenship for Investment

Armenia may start issuing citizenship for investment. Such a bill is published on the state website of legal acts, the document lists more than 10 grounds for obtaining an Armenian passport, and not only investors but also scientists and doctors can apply for a simplified procedure for obtaining citizenship.

To obtain citizenship for a contribution to the Armenian economy, candidates will have two options – to invest in one of the local projects or open their own business.

Those who choose the first path will have to spend at least $150,000. They can be invested in educational, scientific or other funds, in the capital of companies (for a period of at least 10 years), in government bonds (for a minimum of 7 years) or in real estate.

Citizenship can be obtained by entrepreneurs who have opened a company in the field of high technology or IT with a capitalization of at least $1 million. The owner of the company must have a center of vital interests within the country.

You can also open a branch of an IT company in Armenia, but its capitalization must be at least $100 million. There is another option – to create a venture fund in the country with a capital of $80 million or more.

In addition, scientists and doctors will be able to apply for citizenship of the country, but with at least 10 years of experience, international recognition, state awards, experience in participating in innovative projects and other merits.

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