The European Union recently published an action plan for visa liberalization. For Armenia, this is an important step toward visa-free travel within the Schengen area. One of the most notable sections of the document addresses an issue that has received worldwide attention since 2022: citizenship by investment. In this context, the Armenian authorities have officially confirmed that Armenia will not introduce a citizenship-by-investment program; the idea is now effectively closed.
The European Action Plan requires Armenia to “refrain from developing a citizenship scheme for investors” and to ensure fair and transparent procedures for granting Armenian citizenship in order to prevent abuse of the future visa-free regime. This directive is unambiguous. It aligns with the EU’s post-2020 policy, which views “golden passport” schemes as security and migration risks. The EU has already pressured Cyprus, Malta, Montenegro, Vanuatu, the Caribbean states, and others to terminate or reform such programs.
A Brief History
In 2022, Armenia amended its citizenship law and introduced a new category allowing citizenship for “significant contributions” to the economy, science, culture, healthcare, education, or sports. The draft, published on the website e-draft.am, proposed the following options for acquiring Armenian citizenship:
- Investment in real estate or business worth $150,000;
- Investment in government bonds worth $150,000;
- Donations to educational or scientific foundations;
- Large technological or venture capital contributions.
However, the program was never launched due to national security concerns, significant political criticism, money laundering risks, and informal warnings from the EU. It is now officially incompatible with Armenia’s commitments under the visa liberalization process and will not be revived.
What other paths to Armenian citizenship remain?
- Standard naturalization (after holding residence permit for three years). Investors and specialists may obtain citizenship after three years of residence in Armenia and passing a language and constitutional exam.
- Exceptional citizenship for “significant contribution.” Armenia may still grant citizenship by presidential decree to individuals who have made outstanding economic, cultural, or scientific contributions. However, this pathway is not tied to a fixed investment amount, is rare, involves extensive security screening, and is not guaranteed even for large investments. This mechanism is closer to an honorary or merit-based citizenship practice rather than a commercial program with defined criteria.
- Citizenship for ethnic Armenians. Ethnic Armenians will continue to benefit from a simplified citizenship process with no language or residency requirements.
Passport by Investment
Armenia will continue to encourage investment, but not through citizenship sales. For those seeking a passport by investment, alternative jurisdictions remain available, including Sao Tome and Principe, Sierra Leone, Vanuatu, Nauru, El Salvador, Egypt, Türkiye, and the five Caribbean island states.