In Armenia, only about 52 out of 206 mortgage programs are available to non-residents. However, there are advantageous exceptions for foreigners and repatriates, such as foreign currency loans, online application options, and accommodating banks. This article will walk you through the process of buying a home in Armenia without an Armenian passport.

Who is Considered a Non-Resident in Armenia?

A non-resident in Armenia is an individual who:

• Does not have permanent registration in the country.
• Stays in Armenia for less than 183 days a year.
• Does not conduct permanent entrepreneurial activity or work under an Armenian employment contract.

Even if you are of Armenian origin but live abroad and are not registered in Armenia, you are considered a non-resident.

Why is Buying Property in Armenia Relevant?

Property acquisition in Armenia is becoming increasingly appealing for both diaspora members and foreigners seeking stability, comfort, and profitable investments. Thanks to flexible banking conditions, foreign citizens without Armenian citizenship can secure a mortgage, open an account, and buy property in Armenia.

Important: If you are an Armenian resident, you have access to all mortgage programs, including government subsidies, reduced rates, and housing purchase support.

What's Available to Non-Residents?

Non-residents in Armenia can:

• Purchase homes or apartments in their name (restrictions apply only to land).
• Open accounts in Armenian banks.
• Obtain a mortgage with confirmed income from abroad.
• Participate in specific mortgage offers for the diaspora (e.g., at Ameriabank, Byblos Bank).
• Repay loans in USD, EUR, or AMD – depending on the bank's terms.

Is Remote Mortgage Application Possible?

Yes, but not with all banks. Here are the application options:

• In-person visit: The standard method, requiring you to travel to Armenia for verification and contract signing.
• By power of attorney: Some banks accept a notarized power of attorney if you have a representative on location.

Banks Working with Non-Residents in 2025

As of 2025, the following banks offer mortgages to non-residents:

• Ameriabank: Online applications are accepted, and income from abroad is considered.
• Byblos Bank Armenia: Offers the "Road to Homeland" program specifically for non-residents.
• IDBank: Provides foreign currency loans, including funds for renovations.
• ACBA Bank: Offers housing purchase loans, with the possibility of using a power of attorney.
• Inecobank, Evocabank, Converse Bank, Fast Bank, Armeconombank, Mellat Bank, Artsakhbank, AraratBank, Unibank, Ardshinbank: All these banks also have programs open to foreign citizens.

For detailed conditions, you can compare offers on the AFM platform in the "Mortgages for Non-Residents" section.

Let’s review the mortgage conditions offered by five banks in Armenia that work with foreign citizens.

Top 5 Banks with the Lowest Effective Interest Rates in AMD

Top 5 Banks with the Lowest Down Payment Requirements

Required Documents for Non-Resident Mortgage Application

To apply for a mortgage, you will need the following documents:

• Identification card.
• Proof of income: Bank statement, employment certificate, employment contract, etc.
• Proof of address.
• Real estate purchase agreement.
• Opening an account in an Armenian bank: This can be done in 1-3 days, usually requiring only a passport and proof of address. Some banks offer online account opening via video call or through a power of attorney.
• Taxpayer Identification Number (TIN): Issued by the tax service in 15-30 minutes.

Advantages for Non-Residents

• Ability to obtain a mortgage for property in Armenia.
• Loan repayment can be made in USD, EUR, or RUB.
• No mandatory residence permit required.
• Foreign currency income is considered if confirmed.
• Option to rent out the property to cover mortgage payments.

How to Find a Favorable Mortgage for a Non-Resident?

AFM is the first digital platform in Armenia for comparing financial products, including mortgages, deposits, and bank cards. The platform is available in Russian, Armenian, and English.

With AFM, you can:

• Filter offers available to non-residents.
• Compare mortgage rates, terms, currency, and down payments.
• See the actual overpayment on the loan and hidden fees.
• Use a mortgage calculator.
• Submit an application online, even from outside Armenia.

Simply go to the "Mortgages" section, select the necessary filters, and get a list of suitable offers. It's a convenient and transparent way to find the optimal option without overpaying.

Where is it More Profitable to Buy: Yerevan or the Regions?

In Yerevan, property prices are higher, but the infrastructure is more developed. In the regions, homes are cheaper, but the selection is limited.

Tips for Non-Residents

• If you don't have a credit history in Armenia, provide an income statement or bank statement from your home country.
• Consider purchasing through a trusted representative with a notarized power of attorney.
• Clarify if you can repay the mortgage in your currency – this will help save on conversion fees.
• Complete the transaction with a notary and sworn translation if you don't speak Armenian.

Frequently Asked Questions

Can I get a mortgage in Armenia if I don't have income in the country?

Yes, if you can confirm income from abroad (e.g., bank statement, tax certificate, contract).

Is it mandatory to come to Armenia to apply for a mortgage?

No, with a power of attorney or at banks offering online verification, you can apply remotely.

In which currency can I repay the mortgage?

Depending on the agreement: in AMD or foreign currency. Some banks allow repayment in USD or EUR.

Can I buy an apartment for rent or business?

Yes, a non-resident has the right to acquire property for personal use or investment purposes.

What if I don't speak Armenian?

Most banks offer English-speaking support, and the AFM platform operates in Russian, English, and Armenian.

Conclusion

Buying a home in Armenia as a repatriate or foreigner is straightforward if you understand the process. The main steps are choosing suitable property, gathering the necessary documents, and selecting a bank that works with non-residents. Today, applications are even possible remotely, with mortgage rates starting from 6.9% annually.

Purchasing a home in Armenia is not just an investment; it's a symbol of security and a return to your roots, culture, and family. Property becomes your home, your space, and your foundation. If you are a diaspora member, a repatriate, or simply considering Armenia as a new beginning, then buying a home is an important and achievable step, especially now that you can get a mortgage even without citizenship, and banks consider income from abroad.

We hope this article has helped you understand the details and take the first step towards your home in Armenia. Welcome home.