Armenia
Caucasus
EuropeNon-EU
A low-cost Caucasus tech hub with a fast 3-year citizenship route, a flat 20% income tax, generous IT-sector incentives and easy company formation - though salaries are modest and regional security is a concern.
62
Overall score
Moderate · 100% data coverage
Language
ArmenianCurrency
AMDCitizenship
3 yearsPersonal tax
20% flatCost of living
$650 / mo (single)Rules change often. Confirm any immigration, tax or legal decision with a qualified professional.
Score breakdown
61
Access
17%60Residence12%
64Citizenship and passport5%
64
Earning power
25%47Salary and work12%
80Buying power13%
58
Business and wealth
20%78Taxes7%
57Business8%
31Investment5%
70
Daily life
25%72Quality of life18%
66Education7%
52
Rights and institutions
13%61Freedom6%
45Rule of law7%
Pros
- Fast 3-year citizenship; dual allowed
- Micro-business (5%) & IT tax incentives
- Very low cost of living; easy company setup
Cons
- Regional geopolitical risk
- Modest local salaries
- Armenian needed locally
Best for
Tech founders & freelancersLow-tax relocatorsDiaspora returnees
Score profile
Access
Residence
60
Citizenship
72
Passport
49
Earning power
Salary & work
47
Buying power
80
Cost of living
85
Economy
71
Business and wealth
Taxes
78
Personal tax
64
Corporate tax
49
Business
57
Investment
31
Wealth building
58
Daily life
Safety
66
Healthcare
79
Environment
49
Infrastructure
70
Education
66
HDI
81
Rights and institutions
Freedom
61
Rule of law
45
Access
Residence
Openness to residents
60Moderate
Migrant stock9.2% of population (2024)
Regulatory quality0.14 (−2.5 to 2.5) (2024)
Main pathways
Temporary residence (work/business)Permanent residenceInvestment-based residenceFamily/heritage
| Student | Residence for enrolled students. |
|---|---|
| Work | Open labour market; residence via employment or business. |
| Self-employed | Sole entrepreneur with micro-business (turnover) regime; IT incentives. |
| Permanent | Permanent residence (5-yr card) renewable; citizenship after 3 years. |
Citizenship
Citizenship accessibility
72Good
| Years required | 3 years of permanent residence |
|---|---|
| Dual allowed | Yes |
| Language | Armenian language + constitution knowledge |
| Residence | 3 years residence (faster for ethnic Armenians) |
| Notes | Ethnic Armenians can obtain citizenship on a simplified basis. |
Passport
Passport power
49Moderate
98 / 198
Mobility
#53
Global rank
Yes
Biometric
- Visa-free49
- On arrival44
- eTA5
- Visa required100
Placeholder estimates for 2024 to 2025. Check entry rules with each destination before travelling.
Earning power
Salary & work
Labour-market strength
47Moderate
Output per worker$47,369 PPP (2024)
Unemployment12.9% (2025)
Participation59.4% of 15+ (2025)
Mean monthly earnings of employees
Overall$357 · $865 PPP (2023)
Tech (IT & comms)$637 · $1,545 PPP (2023)
| Freelance | Strong, fast-growing IT sector; good base for remote work |
|---|---|
| Job market | Yerevan tech scene growing (PicsArt, Krisp roots); IT incentives in place. |
Buying power
Purchasing power score
80Excellent
GNI / person$24,020 PPP (2025)
Consumption / person$14,316 PPP (2024)
Price level41 (US = 100) (2025)
Income inequality27.4 Gini (2024)
Inflation3.3% / yr (2025)
Cost of living
Affordability
85Excellent
Price level41 (US = 100) (2025)
| Rent | $350–650 (1BR Yerevan) |
|---|---|
| Monthly | $650 |
| Cities | Yerevan, Gyumri |
Economy
Economic strength
71Good
Output & income
GDP$29.2B (2025)
GDP / person$9,474 (2025)
GNI / person$24,020 PPP (2025)
GDP growth5.9% / yr (2024)
Stability & labour
Inflation3.3% / yr (2025)
Unemployment12.9% (2025)
Output per worker$47,369 PPP (2024)
Sector composition
Agriculture7.9% of GDP (2025)
Industry23.1% of GDP (2025)
Services61.3% of GDP (2025)
Main industries
Information technologyMiningAgriculture & foodJewellery & diamondsTourism
Top exports
Copper ores & metalsCut diamonds & jewelleryFood & beveragesIT services
| Type | Upper-middle-income, services- and mining-led |
|---|---|
| Key sectors | Fast-growing IT sector, Mining & metals, Agri-food & brandy |
| Summary | A small landlocked economy with a fast-growing IT sector alongside mining, agriculture and brandy exports. |
| Currency | Armenian dram |
Business and wealth
Taxes
Tax friendliness
78Good
| Personal | 20% flat |
|---|---|
| Corporate | 18% |
| Capital gains | 10–20% depending on asset |
| Dividends | 5% |
| Exit tax | None |
| Foreign companies | No comprehensive CFC regime |
Personal tax
Personal tax
64Moderate
| Personal | 20% flat |
|---|---|
| Freelance | Micro-business (turnover) regime; ~5% turnover tax for small earners |
| Capital gains | 10–20% depending on asset |
| Dividends | 5% |
| Exit tax | None |
Corporate tax
Corporate tax
49Moderate
| Corporate | 18% |
|---|---|
| Capital gains | 10–20% depending on asset |
| Dividends | 5% |
| Foreign companies | No comprehensive CFC regime |
Business
Business friendliness
57Moderate
Regulation & bureaucracy
Regulatory quality0.14 (−2.5 to 2.5) (2024)
Government effectiveness-0.36 (−2.5 to 2.5) (2024)
Operating rules
| Foreign company | Yes: 100% foreign ownership |
|---|---|
| Local company | LLC registration online/in-person in ~1–2 days |
| Freelance | Micro-business (turnover) regime; ~5% turnover tax for small earners |
Investment
Investing environment
31Limited
Market cap19% of GDP (2024)
Private credit71% of GDP (2025)
| Capital gains | 10–20% CGT; simple personal taxation |
|---|---|
| Dividends | Data not available yet |
| ETFs & funds | Data not available yet |
| Wealth tax | None |
| Brokers | Limited locally; foreign brokers used |
| Foreign access | Data not available yet |
| Tax-advantaged | Data not available yet |
Wealth building
Wealth accumulation
58Moderate
Salary & work
47Moderate
Business
57Moderate
Investment
31Limited
Tax friendliness
78Good
Cost of living
85Excellent
Daily life
Safety
Safety & stability
66Good
Institutions & stability
Control of corruption0.14 (−2.5 to 2.5) (2024)
Political stability-0.72 (−2.5 to 2.5) (2024)
Check current government travel and security advice before relocating.
Healthcare
Healthcare score
79Good
Outcomes
Life expectancy78.3 years (2024)
Under-5 mortality9.6 per 1,000 births (2024)
Capacity & resourcing
Physicians3.36 per 1,000 (2022)
Hospital beds4.24 per 1,000 (2023)
Health spending$2,033 PPP / person (2023)
System & costs
| System | Public + affordable private |
|---|---|
| Insurance | Private insurance common; care inexpensive |
| Average cost | Private cover ~$200–500 / yr |
Environment
Environment score
49Moderate
Environmental pressure
PM2.5 exposure28.6 μg/m³ annually (2023)
Water stress62.0% (2022)
Infrastructure
Infrastructure score
70Good
Digital infrastructure
Internet use81.3% (2024)
Internet resilience63 / 100 (2026)
Fixed speed72 / 100 download index (2026)
Mobile speed66 / 100 download index (2026)
Sources: World Bank World Development Indicators · Internet Society Pulse Internet Resilience Index
Utilities
Electricity access100.0% (2023)
Grid losses6.7% of output (2023)
Transport
Transport quality2.60 / 5 (2022)
Rail density24.8 km / 1,000 km² (2021)
Air connectivity3,698 departures / million people (2023)
Education
Education score
66Good
Attainment
Expected schooling14.4 years (2023)
Mean schooling11.3 years (2023)
Participation & investment
Tertiary enrolment53% gross (2024)
Education spending2.4% of GDP (2023)
| Tuition | $2,000–5,000 / yr |
|---|---|
| Public university | Low; some English-taught programs |
| Languages | Armenian, Russian, English (limited) |
| Student work | Work generally permitted |
HDI
Human development score
81Excellent
HDI0.811 (2023)
Knowledge
Expected schooling14.4 years (2023)
Mean schooling11.3 years (2023)
Rights and institutions
Freedom
Freedom score
61Moderate
| Freedom in the World | 54 / 100 (Partly free) |
|---|---|
| Freedom on the Net | 72 / 100 (Free) |
Sources
Rule of law
Rule of law score
45Moderate
| Rule of Law percentile | 45 / 100 |
|---|
Sources
Resources
Official references
Migration & Citizenship Servicemigration.amState Revenue Committeesrc.amUNDP Human Development Report 2025hdr.undp.orgInternet Society Pulse Internet Resilience Indexpulse.internetsociety.orgWorld Bank World Development Indicatorsdata.worldbank.orgILOSTAT (International Labour Organization)ilostat.ilo.org
Quick links
Data is illustrative. Not legal or tax advice.