Armenia Announces Draft Citizenship by Investment Program
Armenia has recently announced its draft Citizenship by Investment (CBI) program, an exciting development that has been anticipated by many for a long time. In this blog post, we will discuss the details of this proposed CBI program, its foundations, investment options, and the potential benefits for investors.
Armenia’s Citizenship by Investment Program: A Unique Opportunity
Armenia is a special country known for its rich culture, great people, and predominantly Christian heritage. Its CBI program is a unique opportunity, as citizenship by investment programs in the region usually take a long time to be introduced. Armenia’s proposed program would allow people to participate and potentially become citizens of this great country with a vibrant diaspora.
Legal Foundations of the CBI Program
Armenia’s CBI program is based on the citizenship by exception provision embedded in its constitution. This provision states that if you make a special contribution in the spheres of economics, science, culture, or sports, you could be granted citizenship on a case-by-case basis. The draft CBI program aims to convert this special type of citizenship into an economic program.
Investment Options and Price Tag
The draft CBI program has an estimated investment requirement of around $150,000, although this amount is not yet finalized. There are several areas in which the investment can be made, such as company shares, investment funds, or government bonds. Additionally, the government might establish specific funds for improving various aspects of the country.
Investment Term and Capital Recovery
Although the exact investment term has not been finalized, the draft program suggests a timeframe of around 8 to 10 years. After this period, it is expected that the investment would be refunded, making the program more attractive than a straightforward donation.
Armenian Passport: An Exotic Choice
The Armenian passport may not be the strongest in terms of visa-free access, offering entry to around 65-70 countries without a visa or with a visa on arrival. However, it provides an interesting and exotic option for investors. Armenia is a peaceful country with good ties to the West, making its passport a valuable asset for many.
Comparing Armenia’s CBI Program to Other Options
Armenia’s CBI program is expected to compete well with other programs, such as those offered by Turkey, Macedonia, and the Caribbean. Its unique features, such as the potential for capital recovery and the appeal of Armenian citizenship, make it an attractive option for investors.
Launch Timeline and Implementation Details
Armenia’s CBI program is expected to be considered for approval by the end of October. However, details about the implementation partner, processing times, and investment structures are not yet available. The success of the program will largely depend on its management and marketing partners.
Conclusion
Armenia’s draft Citizenship by Investment program is an exciting opportunity for investors looking for a unique and exotic passport. With its solid legal foundations, investment options, and potential for capital recovery, this program is likely to be a strong contender among other CBI options. The final approval and implementation details will be crucial in determining the program’s success, but for now, the Armenian CBI program offers a promising alternative for investors seeking a new citizenship.
