Get free consultation ^

Personal Lawyer

Hello,
ask your question

Law draft

LAW ON AMENDMENTS AND SUPPLEMENTS IN THE LAW ON CITIZENSHIP OF THE REPUBLIC OF ARMENIA

Article 1. In the Article 13 of the Law:

1. In the 1st subclause of the 1st clause the words “last three years” replace with the words “last five years”.

Article 2. To amend the Law with the Article 132 with the following wording:

“Article 132. Receiving citizenship of the Republic of Armenia by investments

1. Everyone eligible to serve as a citizen of the Republic of Armenia who has attained the age of 18 and who resides legally in the Republic of Armenia, has the right to apply for the citizenship of the Republic of Armenia if one of the following investments is made:

1) Donation in the amount of at least seven thousand-fold of the basic salary to the investment fund founded by the Government of the Republic of Armenia for the development of intensive agriculture, the rehabilitation and protection of water resources and for the renewal of renewable energy;

2) Being the only founder of the trade entity registered in the Republic of Armenia, acquired real estate by the order defined by the Government of the Republic of Armenia and invested deposit in the trade banks of the Republic of Armenia in the minimal amount defined by the Government of the Republic of Armenia”.

2. In the cases and in the manner prescribed by this Article, the person who wishes to receive the citizenship of the Republic of Armenia shall submit an application for the grant of the Government of the Republic of Armenia and obtain a permit from the Authorized Body of the Government of the Republic of Armenia.

3. The procedure for making investment as provided in this Article, as well as the cost of obtaining a real estate, the amount of deposit, the list of documents certifying the contribution, and the procedure for obtaining citizenship are defined by the Government of the Republic of Armenia.

4. The proprietary organization founded by a person who has been granted citizenship in the manner prescribed by point 2 of part 1 of this Article shall enjoy the following privileges provided for by the legislation of the Republic of Armenia for a five years term:

1) In case of annual turnover in the amount determined by the Government of the Republic of Armenia, the tax exemption for such commercial organizations shall be established by the relevant legal act in accordance with the investment contribution established by the Government of the Republic of Armenia, not more than the minimum deposit amount equal to 10%,

2) In case of annual turnover in the amount determined by the decision of the Government of the Republic of Armenia, the tax exemptions to such commercial organizations shall be defined by the respective legal act deductions of the taxable object in proportion to the contribution deposited by the Government of the Republic of Armenia, not more than 10% of the amount exceeding the established minimum deposit,

3) other privileges provided by law.

5․ The simultaneous application of the privileges referred to in paragraphs 1 and 2 of this Article shall be prohibited, and the types and types of franchise applied shall be determined by the decision of the Government of the Republic of Armenia.

6. The Government of the Republic of Armenia may establish annual quota for persons who are granted citizenship under this Article."

Article 3. Article 23, Part 1 of the Law shall be supplemented with points 4 and 5 in the following wording:

«4․ if the acquisition of citizenship by a person under Article 13 (1) or Article 132 of this Law is aimed at further violation of the entry visa regime with the Republic of Armenia and other countries or international organizations without entering the visa regime and

Illegal approval in the Republic of Armenia or in those countries.

5․ if the person who has acquired citizenship on the basis of Article 132 of this Law has been violated on the basis of the same Article and the conditions for acquiring citizenship as defined by the Government of the Republic of Armenia.".

Article 4. This Law shall enter into force on the tenth day following its official publication.

THE LAW OF THE REPUBLIC OF ARMENIA ON AMENDMENTS AND ADDITIONS IN TAX CODE OF THE REPUBLIC OF ARMENIA

Article 1 The Article 126 of the Code to amend with the part 8 by the following wording:

“8. Commercial organizations defined by point 2 of part 1 of Article 132 of the Republic of Armenia law "On Citizenship of the Republic of Armenia" are exempted from profit tax payment for 5 years starting from the date of establishment, which are engaged in limited trade circulation with the Republic of Armenia exporting goods produced in the Republic of Armenia, on income earned. The list of countries with little circulation with the Republic of Armenia is defined by the Government of the Republic of Armenia.".

THE LAW OF THE THE REPUBLIC OF ARMENIA

ON AMENDMENTS TO THE TAX CODE OF THE REPUBLIC OF ARMENIA

Article 1: Article 4 of the Land Code of the Republic of Armenia (hereinafter referred to as the Code) of May 2, 2001 shall be supplemented with Article 3.2, with the following wording:

"3.2. A person who has been granted citizenship on the basis of Article 132 of the RA Law on Citizenship of the Republic of Armenia shall not have the right to acquire a land within the territory of the Republic of Armenia within five years from the date of receipt of RA citizenship, with the exception of cases provided for in Part 3.1 of this Article.

DECISION

OF THE GOVERNMENT OF THE REPUBLIC OF ARMENIA

(the proposed amendments in this Decision are not final and subject to amendment)

--- April 2019 N ----N

ON AMENDING THE DECISION N 1390-N OF NOVEMBER 23, 2007 N OF THE GOVERNMENT OF THE REPUBLIC OF ARMENIA

According to Article 28 (1) (2) of the Law of the Republic of Armenia "On Citizenship of the Republic of Armenia" the Government of the Republic of Armenia decides:

1. For the purpose of establishing the list of documents required for obtaining the citizenship of the Republic of Armenia and termination of the citizenship of the Republic of Armenia of November 23, 2007, establishing the procedure for examining the applications, the form of the certificate of the RA citizenship and the baptismal certificate in the Decree N 1390-N, make the following changes:

1) replace the words "last three years" with the words "last five years" in subparagraph 1 of point 2 of Appendix N 1,

2) Annex N1 to the decision shall be added with the following new paragraph 2.1:

«2.1. Legally resident, residing in a foreign country (hereinafter referred to as a resident), having at least 18 years of age without citizenship of the Republic of Armenia in accordance with Article 132 (1) of the RA Law on Citizenship of the Republic of Armenia (hereafter referred to as Law) or everyone residing (s) in the Republic of Armenia shall have the right to apply for the nationality of the Republic of Armenia, if one of the following investments is made:

1) has provided at least seven thousand-fold of minimum salary (hereinafter, minimum salary) to the investment fund set up by the Government of Armenia for the development of intensive agriculture, rehabilitation and protection of water resources and renewable energy.

2) being the sole shareholder of a commercial organization registered in the Republic of Armenia, has acquired real estate and deposits in the Republic of Armenia, defined by the Government of the Republic of Armenia.",

3) Annex N 1 to the decision shall be added with the new paragraph 4.1.

4) Annex N 1 to the decision shall be supplemented with the new paragraph 4.2.

“4․1․ The real estate stipulated by Clause 2, Part 1, Article 132 of the Law should be acquired at the rate of thirty thousand minimal salaries in Yerevan and at least fifteen thousand minimal salaries in the regions.",

“4․2․ The amount envisaged by point 2 of part 1 of Article 132 of the Law, which the person undertakes to make a deposit to receive the citizenship of the Republic of Armenia, should at least comprise 10,000 times the minimum salary,

5) Annex N1 to the decision shall be added with the following new paragraph 4.3:

«4.3. In the cases provided for in part 1 of Article 132 of the Law, the person wishing to acquire the citizenship of the Republic of Armenia shall submit an application in accordance with form N 3 and receive a permit for making a contribution pursuant to Form No. 4,

6) Paragraph 5 shall be added by the words "and 2.1" after the word "point 2".

7) Paragraph 6 shall be replaced by the following:

“6. In the case provided for in paragraph 3 of this Procedure, a person shall obtain the documents for obtaining citizenship of the Republic of Armenia as well as 4.3. or by an authorized representative:

1) In the Republic of Armenia, Department:

2) Embassy or consulate of the Republic of Armenia (hereinafter referred to as Embassy or Consular post) in a foreign country.",

8) Annex N 1 to the decision shall be replaced by the following new paragraph 8.1: "In the case provided for in subparagraph 1, point 2 of this Procedure, the person or the authorized representative shall submit the documents provided for in subparagraphs 1-7 and 10 of point 1 of the List."

9) Annex 1 to the decision shall be supplemented with the following new paragraph 8.2:

"In the case provided for in subparagraph 2 of paragraph 2.1 of this Procedure, the person or the authorized representative shall submit the documents provided for in subparagraphs 1-7 and 10 of point 1 of the List."

10) Annex N 1 to the decision shall be replaced by the following new paragraph 8.3:

"Within five years from the date of receipt of the RA citizenship, a person who has been granted citizenship or his / her authorized representative on the grounds provided for in paragraph 2 of paragraph 2.1 of this Procedure shall submit to the Police Passport and Visa Department 2 the owner of the immovable property provided for in subparagraph (a) and the documents certifying that the deposit has a fixed size;

11) Annex N 1 to the decision shall be replaced by the following new paragraph 8.4:

"Documents confirming the ownership of real estate as defined in Point 8.3 of this Procedure and the introduction of a fixed deposit amount are the unified statement of the real estate unit (unified statement), copy of the real estate purchase contract and the statement of the deposit account.",

12) Annex N 1 to the decision shall be replaced by the following new paragraph 8.5:

"If a check of the documents provided by point 8.3 of this Procedure has been made, it has been found out that the person who has been granted RA citizenship during the last semester did not have a bank deposit and property right under the provisions of 4.1 and 4.2 of this Procedure , his / her citizenship may be terminated in accordance with Article 23, paragraph 5, of the Law. ",

13) Annex N 1 to the Decision NN 3 and 4 as follows:

․․․

14) Sub-clause 10, paragraph 1, add Annex N 2 with the following new paragraphs 11 and 12:

․․․․

2. This decision shall enter into force on the day following its official promulgation.

THE GROUNDING OF THE DRAFT

The main goal of the draft is to define practical means and tools to promote investment in the Republic of Armenia. The draft law aims to provide tangible privileges and / or benefits for those willing to invest in Armenia. The proposed changes are aimed at improving existing regulations and reducing existing risks. It has long been a necessity to change the portrait of immigrants, to encourage better quality migration, favoring economically active individuals. Naturally, this will lead to the improvement of demographic indicators and, as a consequence, the inflow of cash and investment. Investment means, in turn, contribute to the creation of cheap loans and the development of a number of economic sectors. With the adoption of the project it is expected to ensure the elimination of inefficient application of legislative norms and the elimination of legislative gaps, as well as the regulation of some practical issues.

Go back