Armenia offers a residency permit system for foreign business owners that allows them to stay in the country for extended periods. Here’s a concise overview of the process:
Initial Temporary Residency: Foreign entrepreneurs can obtain a temporary resident card valid for one year.
Renewability: This temporary residency permit can be renewed annually for up to five years.
Path to Permanent Residency: After living in Armenia for three years, foreign business owners become eligible to apply for permanent residency.
Simple Registration Process: The primary requirement to qualify for this residency permit is registering as a sole proprietor or individual entrepreneur in Armenia.
Ease of Registration: The process of registering as a sole entrepreneur is described as extremely easy and quick, often completed within half an hour after submitting the necessary documents.
Minimal Stay Requirements: Notably, there are no minimum stay conditions imposed for maintaining residency status in Armenia.
This system provides a straightforward path for foreign entrepreneurs to establish themselves in Armenia, with the potential to transition from temporary to permanent residency over time.
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