I went to visit one of the so called free zone︀ sites in Armenia.. there was nothing to see. Anyway, maybe there is still zero tax︁ if you set up an ICT company in a free zone / special economic zone︂ in Armenia. However, I agree with backpacker - vaguely written laws will always cause headaches︃ sooner or later.
Armenia special residency status
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We have business in Georgia but the feeling i get this time and from some time on from the pandemic times is that things are getting worse there,first they increased the residence requirement from 35 k usd to 100k usd,then they brought CRS effective next year.One of my friends even had trouble opening a bank account in TBC this time.
So not so sure about Georgia anymore .
So not so sure about Georgia anymore .
That's true and one reason why I posted it as the least favorited out of three.
I am one of the most vocal critics regarding Georgia in this forum. Soon territorial taxation will be a thing of the past -> Life after Georgia - Best low-tax country︀ within EU
And with all the Russians things are not getting easier. However, one can︁ use it to his/her advantage as long as it lasts; even if it just to︂ sell low-quality apartments and shabby houses at insane prices 😉
I am one of the most vocal critics regarding Georgia in this forum. Soon territorial taxation will be a thing of the past -> Life after Georgia - Best low-tax country︀ within EU
And with all the Russians things are not getting easier. However, one can︁ use it to his/her advantage as long as it lasts; even if it just to︂ sell low-quality apartments and shabby houses at insane prices 😉
Georgia is riding high as a beneficiary of the war with a lot of Russian money and business moving in - but i expect it will evaporate after the war ends as the Russians head back home. If that happens before the next general elections in Georgia then I think the government will have a much more difficult economic situation to contend with and to try and push tax changes through in. I also guess backers of both sides of politics in Georgia benefit very nicely from the current tax laws so how far the government will go to bow down to EU tax agendas︀ will be interesting to see as georgia is doing very well at the moment by︁ walking a kind of middle road between Russia and the rest. This kind of ‘instability’︂ or uncertainty is why I think georgia can be a good short term option for︃ people starting and early phase building of their business but don’t lock your business assets︄ in here and have your exit strategy ready.
@oldtimer2 I could not agree more. The biggest issue I see is capital flows. The Lari has benefited from significant remittances this year. The already high inflation will be worse if that money flows back out. The current tax system is quite convenient for "backers of both sides of politics" as you put it. The "Estonian model" for corporate income and the territorial model for personal income don't seem to be targeted by OECD or EU for now. The big pressures are about transparency, KYC/AML/VASP/etc. The Revenue Service don't have the tools to enforce worldwide income tax and I doubt they want to be given︀ the responsibility. It's not as if they can wave a wand like Biden and hire︁ "87,000 new IRS agents".
The middle road you talk of is absolutely key. Western media︂ can interview student activists and Lelo Party MPs all day. Yes it would be nice︃ to join EU and NATO and kick Russia out of the occupied lands but there︄ seems to be a quiet, pragmatic majority who really don't want to rock the boat.︅
In terms of the original post in this thread, instead of the $100,000 Investment for︆ a 10 year visa, people might want to look at the new $150,000 route to︇ citizenship.
The middle road you talk of is absolutely key. Western media︂ can interview student activists and Lelo Party MPs all day. Yes it would be nice︃ to join EU and NATO and kick Russia out of the occupied lands but there︄ seems to be a quiet, pragmatic majority who really don't want to rock the boat.︅
In terms of the original post in this thread, instead of the $100,000 Investment for︆ a 10 year visa, people might want to look at the new $150,000 route to︇ citizenship.
@marzio the details are not finally confirmed but it looks like it will go ahead in 2023.
Here are some articles, with slightly differing details:
Armenian Govt. Unveils Decision to Offer Citizenship for $150,000 Investment in Property, Bonds, Shares, Funds, and More - Investment Migration Insider
https://www.fragomen.com/insights/armenia-new-citizenship-by-investment-program-forthcoming.html
https://armenian-lawyer.com/citizenship-by-investment/
Here are some articles, with slightly differing details:
Armenian Govt. Unveils Decision to Offer Citizenship for $150,000 Investment in Property, Bonds, Shares, Funds, and More - Investment Migration Insider
https://www.fragomen.com/insights/armenia-new-citizenship-by-investment-program-forthcoming.html
https://armenian-lawyer.com/citizenship-by-investment/
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