Armenia : Becoming a dual citizen of Armenia gives you a "Plan B" for $150,000 Investment: Brand New
"Making a significant economic contribution" to the country.
Dual nationality has been allowed in Armenia since 2005, as long as the government is notified upon acquisition of additional nationality.Armenian passport allows visa-free travel to 65 countries including places with limited access to nationals of Western countries, such as Russia, China, Iran, Uzbekistan, etc. Becoming a dual citizen of Armenia gives you a "Plan B".
Foreign nationals, who will have significant contributions to Armenia’s economy, science, education, culture, health and sports fields, can get a citizenship of Armenia.
The Citizenship Law was amended on July 7, 2022 to allow the acquisition of Armenian citizenship by means of "making a significant economic contribution" to the country.
To summarize, Armenia now has a law that allows foreigners to acquire Armenian citizenship if they can show they have made a "significant contribution" in the area of economy (or culture, athletics, etc.). The law specifically exempts applicants from normally applicable naturalization requirements (knowledge of Constitution or Armenian language, residence in Armenia, etc.). The applicant ha to travel to Armenia and get the passport at the Immigration Office (Police).
For $150,000 Investment in Property, Bonds, Shares, Funds and More.
The following are the description and evaluation criteria of a significant contribution in the area of economy:
A donation of $150,000 to a scientific or educational foundation;
Investment of $100,000 in an IT company or a venture fund;
Investment of $150,000 in a company and hold the investment for 10 years;
Purchase of $150,000 worth of government bonds and hold the investment for 7 years;
Purchase of $150,000 worth of real estate and hold the investment for 10 years;
Having 20+ years of work experience in a publicly traded IT company;
Having 10+ years of work experience in science and authoring 5+ scientific articles;
Being engaged in dissemination and preservation of Armenian culture, heritage, and identity;
Having a scientific title of docent, professor in the area of healthcare.
Foreign citizens, who will invest at least 150,000 USD in any investment fund (approved by the government) for a period of at least 10 years, will found a high-tech and (or) IT company in Armenia with capitalization equal to 1 million USD or more, with a condition that the center of vital interests of the founder is in Armenia, can also get an Armenian citizenship.
Foreign nationals, who will establish a branch of a foreign IT company in Armenia with capitalization equal to 100 million dollars or more, which has 500 or more staffers in Armenia, will establish a venture foundation in the amount of 80 million dollars or more, will make a financial investment worth 100,000 USD or more in a high-tech company or a venture foundation, can also get an Armenian citizenship.
As for the healthcare field, having an academic title of an associate professor or professor, or active charitable activities in healthcare sector, as well as having state orders or medal for other significant services, conducting medical care and services in Armenia’s and Artsakh’s medical facilities by foreign medics during martial law, can also serve as a base for getting an Armenian citizenship.
After the Russian-invaded Ukraine war broke out, entry into Europe was banned and Russians are
allowed visa-free entry through Turkey, Israel and South Korea. However, air ticket prices abroad soared in Russia.
Since the announcement of Putin's 'partial mobilization,' tens of thousands of Russians have been flocking to Yerevan, capital of Armenia, this former Soviet republic and traditional ally, even if it is itself in conflict.
A growing number of Russians who fled abroad because of the Ukraine war are seeking Armenian citizenship as the fighting drags on and it appears increasingly unlikely they will be able to return home anytime soon. Armenian government immediately saw a great opportunity to attract wealthy Russians and talented people. €150 000 CIP for Armenian citizenship is competitive in comparison with prices of €400,000 for the golden visa program of neighboring Turkey, €450,000 for Montenegro, and prices expected to rise from €250,000 to €500,000 in May 2023 for Greece, and €100,000-150,000 for distant Caribbean islands. (By Citinavi team)