Mortgage in Armenia for Non-Residents and the Diaspora

This guide is for people who are buying a home in Armenia without living there permanently: citizens of other countries and members of the Armenian diaspora. The bank, mortgage and tax conditions below come from official bank pages, the National Mortgage Company (NMC), the text of the Tax Code of the Republic of Armenia and the Government decision on the refund procedure; the section on Akcern's services describes Akcern's own offer. The check date is 16.10.2026; the pages we rely on are listed with access dates at the end.

Short answer

• Of the seven banks whose pages we checked, four publish a separate programme or an explicit condition for non-residents: Ameriabank [1], IDBank [2], Ardshinbank [3] and Evocabank [4].
• The NMC standard and green acquisition programmes require borrowers to be citizens of the Republic of Armenia [5][6]; the Armenian versions of these pages add that the borrower's main source of income must be in Armenia [14][15].
• The mortgage pages of ACBA, Inecobank and Converse Bank publish no separate condition for non-residents [7][8][9]. We did not check the pages of other Armenian banks.
• Rates, down payments and terms are quoted as the banks published them. They are not an offer and not a promise of approval: the bank takes the final decision [1].

This guide does not cover foreigners' rights to own property in Armenia, or the taxes and fees on the purchase itself.

Who counts as a non-resident

The bank sets the definition in the terms of its own programme, and that definition decides whether a non-resident programme is open to you. Ardshinbank sets out three cases in its lending terms: a foreign citizen who has not submitted a residence card in the Republic of Armenia; an Armenian citizen who lives abroad for 183 days or more, or whose main source of income is in another country; and a dual citizen who meets one of those same two conditions [3].

Ameriabank says Armenian citizenship is not required: both Armenian and foreign citizens may apply, subject to the bank's requirements and the chosen property [1]. Evocabank states an age range for its programme and requires the borrower, or a co-borrower, to be a non-resident [4]. IDBank lists the borrower's status as either an RA resident or a non-resident individual [2].

Before you gather papers, ask the bank how it classifies your status, and prepare the proof it asks for.

Four banks with a stated non-resident programme

Ameriabank: mortgage loan for the Diaspora

The page carries the note "Updated on 16.09.2026 13:37" [1]. Figures from the bank's table [1]:

• Loan amount: AMD 3–150 million; USD 5,000–300,000; EUR 5,000–300,000 [1].
• Down payment: from 10% in AMD; from 30% in USD and in EUR [1].
• Term: 60–360 months [1].
• Nominal interest rate: AMD 13.5–14%; USD 10–10.5%; EUR 8–8.5% [1].
• Annual percentage rate (APR): AMD 14.97–17.17%; USD 11.03–15.39%; EUR 8.3–12.45% [1].
• A loan disbursement fee of 1% of the loan amount applies [1].

The questions and answers on the same page say that you do not have to come to Armenia during the application. You can start and manage the process from abroad, and a relative, friend or other authorised person can act for you under a power of attorney [1]. They also say that you do not need income registered in Armenia or a guarantor living in Armenia, that income earned abroad may be considered, and that final approval depends on the bank's lending requirements [1]. A mortgage without income verification may be available with a down payment starting from 30%, subject to the bank's assessment [1].

The application has four steps on the page: register on the MyHome platform and fill in the form; contact the adviser; choose an apartment or house from the partner developers' offers; calculate the monthly payment with the calculator [1].

IDBank: mortgage loans for the Diaspora

IDBank states that the loan is available to non-resident individuals of Armenia and that identification and loan processing can be completed entirely remotely. The purpose is buying under-construction or existing residential property [2]. Figures from the bank's page [2]:

• Loan amount: minimum AMD 5,000,000, USD 10,000 or EUR 10,000; maximum AMD 100,000,000, USD 250,000 or EUR 250,000 [2].
• Term: 120–240 months (minimum 120, maximum 240) [2].
• Nominal annual rate, floating from the 6th month: AMD 13–14.5%; USD 8.9–10.5%; EUR 7.9–9.5% [2].
• Effective annual rate: AMD 13.83–16.80%; USD 9.27–11.25%; EUR 8.19–10.15% [2].
• Minimum down payment: AMD 20%; USD 30%; EUR 30% [2].
• Maximum loan-to-collateral ratio: AMD 80%; USD 70%; EUR 70% [2].

Other conditions on the same page [2]: at a loan-to-collateral ratio of 50% no income analysis is performed and the amount cannot exceed AMD 50,000,000 (or the foreign-currency equivalent); the remote identification and application processing fee is AMD 25,000 (or equivalent); the borrower must be over 21 and no older than 65 at maturity; total debt payments may not exceed 60% of income; a loan decision stays valid for 30 business days. Early repayment carries a penalty of 0.6% of the repaid amount in the first year, 0.4% in the second and 0.2% in the third, and none after the third year [2]. The property cannot be bought from a family member of the borrower, such as a father, mother, spouse, child, brother or sister [2].

Ardshinbank: mortgage loans to non-residents

The page shows "The page has been updated: 09.10.2026 14:33" [3]. The bank says loans for buying homes on the primary and secondary market go to non-residents of Armenia, with no analysis of the client's income, no issuance commission, no monthly service fee and no early repayment penalty [3]. In the borrower requirements the bank lists the borrower's declared income and sets no income requirements for a co-borrower [3].

Figures from the bank's table [3]:

• Loan amount: AMD 3,000,000 to 200,000,000; for USD and EUR the minimum is "not defined" and the maximum is 400,000 [3].
• Term: minimum 120 months in AMD and 36 months in USD and EUR; maximum 240 months [3].
• Annual effective rate, floating type: AMD 14–14.9%; USD 10.6–11.8%; EUR 8.9–9.9% [3].
• Minimum down payment: 35% when buying from developers that cooperate with the bank; 50% from developers that do not; 50% on the secondary market [3].
• Maximum loan-to-value: 65% for cooperating developers; 50% on the secondary market [3].
• Borrowers are non-residents aged 21 and over, with or without Armenian citizenship; at least one must be no older than 65 (up to 66 inclusive) at maturity [3].

Insurance is marked "not required" in the table. The application and documents are submitted at bank branches or the head office [3].

Evocabank: housing mortgages for non-resident individuals

The programme covers buying an apartment or a single-family home on the primary and secondary markets [4]. From the bank's terms [4]:

• Eligibility: non-resident individuals aged 18–63 who will not turn 63 during debt service, or a non-resident co-borrower who meets these requirements [4].
• Currencies: USD, euro, AMD. Amount: AMD 2,000,000–80,000,000 or the foreign-currency equivalent. Term: 60–180 months [4].
• Loan-to-value: up to 70% of the appraised value [4].
• Fixed nominal rates: USD 9.2–11%; euro 8.2–10%; AMD 14–15%. Floating rates start from 9.2% (USD), 7.7% (euro) and 13.2% (AMD) [4].
• The bank conducts no income analysis, but the customer must submit information on sources of income.
• Besides the property, the borrower may be required to provide a surety bond issued by at least one RA-resident individual or legal entity.
• No early repayment penalty applies; the property is insured annually for the loan balance.

National Mortgage Company: citizenship required in the standard and green programmes

NMC refinances standard acquisition loans from its own funds. On its page the borrower requirements read: borrowers must be citizens of the Republic of Armenia, must have no current delinquent liabilities, and over the twelve months before the loan the total delinquent days on all their liabilities must not exceed 30 [5]. The green acquisition page repeats the citizenship requirement [6]. The English pages say nothing about residency or the source of income in the borrower requirements [5][6]. The Armenian versions of both pages put the requirement more broadly: borrowers must be citizens of the Republic of Armenia whose main source of income is in Armenia [14][15]. If your main income is earned abroad, check this condition with a partner bank or credit organisation of NMC before you apply.

Other terms of the standard programme [5]: loan up to AMD 35 million; term of at least 10 years; currency AMD; fixed rate, set by a partner bank or credit organisation of NMC ("Defined by PFI" on the English page) [5][14]; total payments on all the borrower's loans at most 45% of income; down payment of at least 30%, or at least 10% with down payment insurance or additional real estate collateral. For a purchase from a developer, evidence is needed that the land use purpose has not changed in the last 12 months, and the apartment building must have an energy passport [5].

Banks with no published non-resident condition

The mortgage overview pages of ACBA [7], Inecobank [8] and Converse Bank [9] set out no separate condition for non-residents, foreign citizens or the diaspora. The ACBA page is marked "Last Update՝ 07.10.2026" [7].

That does not mean these banks cannot lend to a non-resident — only that no such condition is published on their mortgage overview pages. Individual product pages may say more; ask the bank directly.

How to compare the programmes

Rates in this guide are labelled nominal or effective, depending on what each bank published. Do not compare a nominal rate with an effective one; compare like with like.

How the process runs

1. Choose a programme and check its criteria: non-resident status, age, currency, amount and term [2][3][4].
2. Apply. Ameriabank starts with MyHome registration and an adviser [1]; IDBank allows identification and processing remotely [2]; Ardshinbank takes applications at a branch or the head office [3].
3. Collect the bank's documents (next section). Documents from foreign authorities need to be authenticated and translated [3].
4. Wait for the decision. Ardshinbank gives a decision-making term of 4–7 days [3]; an IDBank decision is valid for 30 business days [2].
5. Register the pledge. IDBank states that the mortgage agreement must be notarised and that ownership and mortgage rights are subject to state registration [2]. Ardshinbank has the borrower pay for the appraisal, the unified certificate on restrictions and notarisation of the pledge contract [3].
6. Receive the loan. Ardshinbank pays by non-cash transfer to the borrower's account at the bank [3]; Evocabank transfers it to the seller's bank account [4].

Documents

To confirm non-resident status, Ardshinbank lists [3]:

• an income statement from a tax or other competent authority of the country, covering at least the past 6 months [3];
• a bank account statement showing funds from your main activity in that country for at least the past 6 months [3];
• a reference from work, if the bank asks for it;
• a reference from a competent authority on registration or actual residence in another country;
• other documents on the bank's request;
• if you are not married, a declaration of single status certified by a notary or a consular office.

Documents issued abroad (identity document, marriage certificate, power of attorney, declaration) must be certified by a notary and confirmed with an apostille, or certified by consular offices of the Republic of Armenia abroad. Consular offices in CIS countries and Georgia do not require an apostille. Documents in a foreign language, including English and Russian, must be translated into Armenian and notarised [3].

Ameriabank says the list depends on the country you apply from and on the assessment route. It names a passport or other identification, bank statements from your country of residence, documents on income or employment, credit history information and documents on the chosen property [1]. Evocabank asks for information on sources of income [4].

Valuation, collateral, insurance and costs

IDBank: the client pays for the pledge appraisal, the unified certificate on restrictions, notarisation and registration of the bank's pledge right; for a primary-market purchase the bank may cover the appraisal. For primary-market purchases the maximum loan-to-collateral ratio uses the lower of the estimated market value at 100% completion and the value of the property being bought [2].

Ardshinbank: pledge registration costs AMD 71,200 for a completed property, AMD 53,100 for the purchase right to a property under construction and AMD 27,100 for pledging the bank's purchase right or additional property. The borrower pays for the appraisal, the certificate and notarisation; after construction, the appraisal, ownership registration and cadastral registration of the pledge together cost AMD 40,000–105,000 [3].

Evocabank: the collateral is the property being bought, or the right to buy it from a developer; the property is insured annually for the loan balance [4].

NMC: insurance of the pledged property for at least the loan amount, insurance that repays the loan if the borrower dies from a covered event, and down payment insurance if the loan-to-value exceeds 70% and no additional property is pledged [5].

Ameriabank: its diaspora programme page does not describe collateral valuation or insurance; ask the bank [1].

Currency and exchange-rate risk

Currencies named on the pages: Ameriabank, IDBank and Ardshinbank offer AMD, USD and EUR [1][2][3]; Evocabank offers USD, euro and AMD [4]; NMC lends in AMD [5]. IDBank states that for foreign-currency loans exchange-rate changes can affect repayments, and that the effective rate is calculated at the Central Bank of Armenia rate published when the loan is issued [2]. Rate type: IDBank floating from the 6th month [2]; Ardshinbank floating [3]; Evocabank fixed or floating [4]; NMC fixed [5]; Ameriabank's diaspora page does not state the rate type [1].

Income tax refund under Article 160

Article 160 of the Tax Code of the Republic of Armenia governs the refund of income tax on mortgage interest. Its title, in our translation, is "Refund, out of paid income tax, of interest paid on a mortgage loan received by an individual who is an employee for buying an apartment or an individual house, or for building an individual house" [10]. As of 16.10.2026, arlis.am shows the consolidated text of the Code as "in force from 01.09.2026 to date" [10]. The procedure is set by Government Decision No. 1321-N of 05.10.2017, shown on arlis.am as in force from 01.01.2025 to date [13].

Who is eligible:

• Income tax calculated under the Code (including through a tax agent) on the salary and equivalent payments of an individual who is an employee is refunded, in the amount of the interest paid on the mortgage loan (Part 1) [10].
• The loan must be received from a financial organisation that is an RA resident after 01.01.2018 and be spent on actually buying an apartment or an individual house, or building an individual house (Part 1) [10].
• The article sets no separate rule for non-residents; the word "resident" there refers only to the lending financial organisation [10]. The condition on the text is to be an employee on whose salary income tax is calculated in Armenia (Part 1). This is our conclusion from the text, not a tax authority ruling.
• For the application, the procedure asks for the borrower's identity document: the passport or ID card of an RA citizen, or a document of a foreign citizen or stateless person confirming the right of residence in Armenia, or a refugee's convention travel document (point 5, sub-point 1); an application without the documents named in point 5 is rejected (point 5.1, sub-point 3) [13]. Article 160 itself contains no such requirement.

Which housing:

• An apartment in a built or under-construction multi-apartment building in Armenia, bought directly from the developer, or from the state or a community under a housing programme (Part 1) [10].
• An individual house in Armenia, bought from a developer that is an organisation or an individual entrepreneur, or built by the borrower (Part 1) [10].
• Buying from another individual is not named in part 1; from this we conclude — our reading, not a tax service explanation — that the article gives no refund for such a purchase. Part 9 expressly excludes a refund on a loan received to buy housing from an individual who is a party to a contract acquiring development rights concluded with the developer [10].
• Part 8 extends the article to buying housing under a development-rights contract concluded with the developer and state-registered between 01.01.2018 and 01.07.2021 [10].

Amount limits:

• No refund if the contract value of the purchase exceeds AMD 55 million (Part 2, item 1) [10].
• The total refund to the borrower and co-borrowers together may not exceed AMD 1.5 million for each quarter (Part 2, item 2); for loans received after 01.01.2025, AMD 750 thousand per quarter (Part 2, item 2.1) [10]. Point 8.1 of the procedure names the same two figures [13].
• For loans received after 01.01.2018, the borrower and co-borrowers may, at their choice, use the refund under only one mortgage loan contract (Part 2, item 3) [10].
• The maximum amounts are determined for each quarter of the tax year separately (Part 4) [10].
• Only tax on salary and equivalent payments is refunded; tax on other taxable income is not refundable (point 4 of the procedure) [13].

Restrictions by location and loan date (Part 2, item 4) [10]. No refund if the property is located, is being built or will be built:

• in the first zone of Yerevan, for loans received after 01.07.2022 (sub-item a) [10];
• in the second zone of Yerevan, after 01.01.2023 (sub-item b) [10];
• in the third zone of Yerevan, after 01.07.2023 (sub-item c) [10];
• in the other zones of Yerevan not named in sub-items a-c, after 01.01.2025 (sub-item d) [10];
• in the Aragatsotn, Ararat, Armavir and Kotayk regions, except for border settlements on the Government's list, after 01.01.2027 (sub-item e) [10];
• in the other regions, except for border settlements on the Government's list, after 01.01.2029 (sub-item f) [10].

Conclusion from sub-items a-d taken together (ours, not a tax authority ruling): for a loan received after 01.01.2025, no refund is made for any zone of Yerevan [10]. The valuation zones are set by a Government decision; the procedure names the decision of 04.06.2020 No. 1023-N (point 5.1, sub-point 2.1) [13]. The same point of the procedure allows an exception for properties whose construction permit was granted before 01.01.2022 [13]; Article 160 contains no such exception. This guide does not cover the zoning decision itself or the transitional provisions of the law of 17.11.2021 No. HO-360-N. The wording of the two acts differs, so for housing in Yerevan check the conditions with the tax service.

How the refund works:

• The refund is made quarterly (Part 3, item 1). Where tax obligations are performed through a tax agent, the condition is that the agent has fully performed the declared income tax obligation on salary for all months of the quarter (Part 3, item 2); where there is no agent, that the employee has fully performed it (Part 3, item 3) [10].
• The refund procedure is set by the Government (Part 6) [10]. Under the procedure, the borrower first files with the tax authority an application confirming the right to the refund, with documents (point 5); after that, a refund claim, filed electronically only, with the number of a bank account belonging to the borrower (point 5.2); for later periods that claim alone is enough if the data in the documents filed earlier have not changed (point 6) [13].

The decision in your case is made by the tax service.

How Akcern helps

For the diaspora Akcern offers a separate scenario: video viewings, remote legal due diligence and a deal signed by your representative under a power of attorney certified by a notary in your country with an apostille, or at an Armenian consulate [11]. Akcern's Mortgage & Finance service covers a mortgage calculator, financing options and banking introductions for local and international buyers [12]. The service list also includes mortgage pre-approval assistance, bank introductions, developer payment plans and international buyer financing [12].

The bank grants the loan and sets its terms. «Ակցեռն» ՍՊԸ: 17 Davit Anhaght St, Yerevan 0069, +374-10-277662.

Before you apply

• Open the bank's page and compare its rate, down payment, term, currency and update date with the figures above.
• Ask how the bank defines a non-resident and prepare proof of status.
• Think about the currency of your income: repayments in a foreign currency depend on the exchange rate [2].
• Ask whether a guarantor is needed and how the property is insured [2][3][4].
• For the tax question, check whether income tax is calculated on your salary in Armenia, and ask the tax service whether Article 160 applies to you [10][13].

Conditions change; check the bank's page

Conditions change; check the bank's page. The information in this guide was checked on 16.10.2026 against the pages in the source list; the Armenian NMC pages [14][15] were read on 17.10.2026. The pages carry their own dates: Ameriabank 16.09.2026 [1], Ardshinbank 09.10.2026 [3], ACBA 07.10.2026 [7].