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6.234c-1.071 0-1.875.803-1.875 1.874 0 1.07.804 1.874 1.875 1.874s1.874-.803 1.874-1.874-.803-1.874-1.874-1.874M16.408 8.643c-4.418 0-7.898 3.615-7.898 7.9s3.614 7.898 7.898 7.898 7.9-3.615 7.9-7.899-3.482-7.899-7.9-7.899m0 12.987a5.085 5.085 0 0 1-5.087-5.088 5.085 5.085 0 0 1 5.087-5.087 5.085 5.085 0 0 1 5.088 5.087 5.085 5.085 0 0 1-5.088 5.088\"\u002F>\u003Cpath fill=\"currentColor\" d=\"M22.834.343H10.116C4.627.343.343 4.627.343 9.983V22.7a9.6 9.6 0 0 0 9.64 9.639H22.7a9.6 9.6 0 0 0 9.639-9.64V9.983c.134-5.355-4.15-9.64-9.506-9.64m6.56 22.491c0 3.615-2.945 6.694-6.693 6.694H9.982c-3.615 0-6.694-2.945-6.694-6.694V10.116c0-3.615 2.946-6.694 6.694-6.694h12.719c3.614 0 6.694 2.945 6.694 6.694z\"\u002F>\u003C\u002Fg>",{"left":5,"top":5,"width":45,"height":45,"rotate":5,"vFlip":7,"hFlip":7,"body":52},"\u003Cg fill=\"none\">\u003Cpath fill=\"currentColor\" d=\"M9.253 6.667a2.667 2.667 0 1 1-5.333-.003 2.667 2.667 0 0 1 5.333.003m.08 4.64H4V28h5.333zm8.427 0h-5.307V28h5.254v-8.76c0-4.88 6.36-5.333 6.36 0V28h5.266V17.427c0-8.227-9.413-7.92-11.626-3.88z\"\u002F>\u003C\u002Fg>",{"left":5,"top":5,"width":30,"height":30,"rotate":5,"vFlip":7,"hFlip":7,"body":54},"\u003Cg fill=\"none\" stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\">\u003Ccircle cx=\"12\" cy=\"12\" r=\"10\"\u002F>\u003Cpath d=\"M14.83 14.83a4 4 0 1 1 0-5.66\"\u002F>\u003C\u002Fg>",{"currentArticle":56},{"data":57},{"id":58,"title":59,"description":60,"original_image":61,"thumbnail_image":62,"image_source":63,"description_source":64,"publication_date":65,"views_count":66,"category":67,"topics":70,"author":74,"banners":91,"seo":92},114,"How to Invest in Armenia: From Bank Deposits to Bonds and Real Estate","\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Keeping money in a bank account or in cash usually does not preserve the purchasing power of capital due to inflation. Over time, money loses its value. If you want your savings to generate income, it’s worth considering investments.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Investing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is a strategy of allocating assets that helps protect your money from inflation while providing stable long-term returns.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In Armenia, just like in other countries, people are looking for ways to grow and multiply their capital: some prefer bank deposits, others invest in securities or cryptocurrency, and many choose real estate. Let’s take a closer look at what investments are and what opportunities already exist in Armenia — and which ones are emerging in the near future.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What are investments in simple terms?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Investments mean directing money into areas where it can generate returns. Examples include:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A bank deposit, where you receive interest income;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Bonds, which provide fixed income (a coupon payment);\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Stocks, which give you ownership in a company and sometimes dividends;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Real estate, which may increase in value and generate rental income;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Gold and other assets that can be sold at a profit later.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The core idea of investing is simple: money should bring more money. But it’s important to remember the balance: the higher the potential return, the greater the associated risk.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In Armenia, banks do not sell shares directly to individuals. To buy and sell stocks on the exchange, you need to open an account with a broker. Sometimes brokerage services are offered by the banks themselves, but through a separate legal entity — a subsidiary company or an investment department licensed by the Central Bank.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">In simple words:\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You can open a savings account or deposit directly at a bank.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">But if you want to buy stocks or other securities, the bank will refer you to its subsidiary or a partner brokerage firm.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Why is it relevant to invest in Armenia now?\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1. Stable dram and declining deposit rates\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">During several waves of economic turbulence, the Armenian dram has shown resilience. The Central Bank has kept inflation within reasonable limits, and there have been no sharp currency fluctuations in recent years.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">At the same time, interest rates on deposits are gradually declining. If previously dram deposits could generate double-digit returns, today the average bank rate is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">6–9% per year\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">. Considering inflation, the benefit of such investments is shrinking, which makes keeping all savings in deposits less effective.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">2. Rising Real Estate Prices and Rental Demand\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Over the past three years, housing prices in Yerevan and other major cities have increased significantly. At the same time, the rental market remains stable due to the influx of IT specialists, migrants, students, and the growing popularity of short-term rentals through Airbnb and Booking.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">For investors, this creates \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">two potential income sources\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Rental income\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – on average 5–8% annually in foreign currency for long-term rentals, and up to 12% for short-term rentals;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Capital appreciation\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – the potential increase in property value if you sell an apartment in a few years.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">However, property prices in Yerevan have already risen considerably, so a sharp increase in the near future is unlikely. In addition, landlords must account for expenses such as vacant periods without tenants, repairs, furniture, taxes, and utility payments (especially in the case of daily or short-term rentals).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">For more details on \u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fafm.am\u002Fen\u002Fnews\u002Fipoteka\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: transparent; color: rgb(0, 0, 0);\">where and how to buy an apartment or a house in Armenia\u003C\u002Fa>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, check out AFM.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">3. Development of the Bond Market and Tax Benefits\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The Armenian government is actively developing the bond market. Today, on the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Famx.am\u002Fen\" rel=\"noopener noreferrer\" target=\"_blank\">Armenia Stock Exchange\u003C\u002Fa> (AMX)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, you can buy both government and corporate bonds.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government bonds\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> offer returns of \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">7–11% annually in AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, and for residents, coupon income is exempt from income tax. This makes them more effective than deposits.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Corporate bonds\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> provide yields 1–3% higher than government bonds and allow you to diversify your portfolio, but they carry higher risk and are subject to taxation.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Popular Ways to Invest in Armenia\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1. Bank Products: Deposits and Deposit Certificates\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">deposit\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is the simplest and safest investment tool.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Returns:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> up to 9% annually in AMD, and 5–6% in foreign currency.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Pros:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> minimal risk, government guarantee of deposits (up to 16 million AMD in local currency and up to 7 million AMD in foreign currency).\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Cons:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> returns often do not fully offset inflation, and interest income is subject to a 10% income tax.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">deposit certificate\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is similar to a savings account, but funds cannot be withdrawn until maturity. In exchange, banks usually offer a slightly higher rate.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Start with a deposit – it’s a safe tool that helps you understand how interest accrual works.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You place \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1,000,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> at \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">8% annual interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The bank accrues \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">80,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> in interest.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">10% tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is automatically withheld (8,000 AMD).\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Your account receives \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">72,000 AMD net\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, bringing your total capital to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1,072,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">If you reinvest and leave the funds, the next interest accrual will apply to the new amount, and your income will start to grow thanks to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">compound interest\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">2. Bonds: Stable Income with Moderate Risk\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">bond\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is a security through which an investor lends money to the government or a company. The issuer pays coupon income, and at the end of the term returns the full amount (the principal).\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Government bonds\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yield: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">7–11% annually in AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Coupon income for resident individuals is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">exempt from income tax\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Minimal risk: payments are guaranteed by the state, and yields are higher than deposits.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Corporate bonds\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Yield: typically \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1–3% higher than government bonds\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Higher risk, since payments depend on the company’s financial stability;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Coupon income is \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">taxed at 10%\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for residents.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Start with government bonds via your bank’s brokerage service — it’s a safe way to gain your first investing experience.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">You purchase a government bond worth \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1,000,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> with a \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">9% annual yield\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> for one year.\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Coupon income: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">90,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">At maturity, you receive back the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1,000,000 AMD principal\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">In practice, coupon payments are usually made semi-annually, but for simplicity they can be calculated evenly by month.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">3. Stocks: Business Participation and Capital Growth\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">stock\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is a security that represents your ownership in a company. Income may come in two forms:\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Dividends\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – a share of the company’s profits;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Capital growth\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – if the company develops, stock prices rise.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Returns:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> depend on the market and the company; they can be high, but also negative.\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Pros:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> potential for high profits, opportunity to invest in global companies.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Cons:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> high volatility, no guaranteed income.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Beginners should start with large, well-established companies (\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">“blue chips”\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">) or \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Exchange-Traded Funds (ETFs)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, which provide instant diversification. Keep in mind that stocks carry more risk than bonds.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">What is an ETF?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">An \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">ETF (Exchange-Traded Fund)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> is an investment fund traded on the stock exchange that combines a whole “basket” of assets: stocks, bonds, gold, or other instruments. By purchasing a single ETF share, an investor gains access to a wide range of securities — meaning ready-made diversification.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Key features of ETFs:\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Traded on the stock exchange just like regular stocks;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Allow investing in dozens or hundreds of assets at once;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Typically have lower fees compared to mutual funds;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Can track different indices (e.g., S&P 500), bonds, commodities, or specific sectors.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Simply put: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">ETFs are a convenient way to invest not in a single company, but in an entire market\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, reducing risks and simplifying portfolio management.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Where to Open a Brokerage Account in Armenia?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">To invest via the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Armenia Securities Exchange (AMX)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> — in stocks, bonds, or ETFs — you need a broker with access to the exchange. Some reliable options include:\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fapricotcapital.am\u002Fen\u002Fservice\u002Fbrokerage-account\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Apricot Capital\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – local broker, offers remote account opening, low fees, and educational materials.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.dimension.am\u002Fen\u002Fpages\u002Findex\u002FBrokerage-&-Trading\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Dimension Investments\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – direct AMX member, provides brokerage services on local and international markets.\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fffin.am\u002Fen\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Freedom Broker Armenia\u003C\u002Fa> (Freedom Holding)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – part of an international group, provides access to global markets.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Many investors also use international platforms, such as \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.interactivebrokers.com\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Interactive Brokers\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.xtb.com\u002Fint\" rel=\"noopener noreferrer\" target=\"_blank\">XTB\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">,\u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fcapital.com\u002F?utm_source=chatgpt.com\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: transparent; color: rgb(0, 0, 0);\"> \u003C\u002Fa>\u003Cstrong style=\"background-color: transparent; color: rgb(17, 85, 204);\">\u003Ca href=\"https:\u002F\u002Fcapital.com\u002Fru-int\" rel=\"noopener noreferrer\" target=\"_blank\">Capital.com\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, and \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.swissquote.com\u002Fen-row\u002Fprivate\" rel=\"noopener noreferrer\" target=\"_blank\">Swissquote\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">, to access foreign markets.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">4. Real Estate: Income and Value Growth\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Buying an apartment for rental purposes remains one of the most popular investment options in Armenia.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Example\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A one-bedroom apartment in Yerevan in 2025 costs \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">19,500,000 AMD (≈ 50,000 USD)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Long-term rental\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Average rent: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">136,500 AMD (≈ 350 USD)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> per month;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">With 11 months rented per year, income ≈ \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">1,501,500 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">This equals about \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">7.7% annual yield\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> relative to the property value;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Considering vacancies, taxes, and maintenance, the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">net yield drops to 6–7% annually\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Short-term rental (Airbnb, Booking)\u003C\u002Fstrong>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Average nightly rate: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">11,700 AMD (≈ 30 USD)\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">With 70% occupancy (≈ 21 nights per month), monthly income ≈ \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">245,700 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">For 11 months, income ≈ \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">2,702,000 AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The “gross” yield reaches up to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">13.8% annually\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">After deducting platform fees (10–15%), cleaning, utilities, and seasonal vacancies, the \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">net yield is 10–12% annually\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Capital appreciation potential\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Housing prices in Yerevan have increased significantly in recent years, and this trend may continue. However, growth rates will depend on the economy and demand, so a sharp price surge is unlikely in the near future.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Conclusion:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Real estate can generate solid income, but it is crucial to factor in all expenses and vacancies to ensure accurate calculations.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">5. Venture Funds and Startup Platforms\u003C\u002Fstrong>\u003C\u002Fh3>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Armenia is actively developing its IT ecosystem, and private investors have access to several venture funds:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Ffast.foundation\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">FAST Foundation\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – a science and technology foundation;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.granatusventures.com\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Granatus Ventures\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – the first venture capital fund in Armenia, supporting IT startups;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fhiveventures.co\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">HIVE Ventures\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – a diaspora-backed fund investing in technology projects;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">\u003Ca href=\"https:\u002F\u002Fwww.smartgate.vc\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Hero House \u002F SmartGateVC\u003C\u002Fa>\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – an accelerator and VC fund working with early-stage startups.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> For beginners, it’s better not to start with direct investments, but to attend startup events and pitch sessions first. Keep in mind: \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">venture capital is a high-risk field\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> where many projects fail, so you should allocate no more than 5–10% of your portfolio to it. Also, minimum investment thresholds are often too high for ordinary investors.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Ch3>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Where to Start Investing?\u003C\u002Fstrong>\u003C\u002Fh3>\u003Ch3>\u003Cbr>\u003C\u002Fh3>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Today, investing in Armenia is accessible to everyone — whether you have \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">100,000 AMD or 10 million AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">.\u003C\u002Fspan>\u003C\u002Fp>\u003Col>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Up to 1 million AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – deposits and government bonds are the most rational choice;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">From 5 million AMD\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – you can add corporate bonds and small real estate investments;\u003C\u002Fspan>\u003C\u002Fli>\u003Cli data-list=\"bullet\">\u003Cspan class=\"ql-ui\" contenteditable=\"false\">\u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Larger capital\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> – it’s worth diversifying the portfolio and including alternative instruments.\u003C\u002Fspan>\u003C\u002Fli>\u003C\u002Fol>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">The key is to \u003C\u002Fspan>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">understand where you are investing\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> and not to chase maximum returns at any cost.\u003C\u002Fspan>\u003C\u002Fp>\u003Ch2>\u003Cbr>\u003C\u002Fh2>\u003Ch2>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Conclusion\u003C\u002Fstrong>\u003C\u002Fh2>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">Investing is a marathon, not a sprint.\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> It does not deliver instant profits – its strength lies in the fact that your money works for you every day, while the main results are achieved over the long run. The earlier you start, the more time your capital has to grow through the power of compound interest.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">Today, Armenia offers all the conditions to build a balanced portfolio even with a modest amount – from reliable deposits and government bonds to real estate and venture funds. The key is not to wait for the “perfect moment,” but to take the first step now.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">It’s not the one who guesses the best instrument who wins, but the one who invests consistently and stays the course.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cbr>\u003C\u002Fp>\u003Cp>\u003Cstrong style=\"background-color: transparent; color: rgb(0, 0, 0);\">AFM tip:\u003C\u002Fstrong>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\"> Start with a simple portfolio of 2–3 instruments, give your money time and discipline, and it will start working toward your financial freedom.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">This material is not an investment recommendation. All decisions must be made by investors independently.\u003C\u002Fspan>\u003C\u002Fp>","\u002Fcontent\u002Fuploads\u002Fnews\u002F380b8a1aa56c554566dc33c11bdb48a4.jpg","\u002Fcontent\u002Fuploads\u002Fnews\u002Fthumbnails\u002F380b8a1aa56c554566dc33c11bdb48a4.jpg","www.freepik.com","AFM","2025-09-05 16:50:00",7379,{"title":68,"slug":69},"Journal","journal",[71],{"title":72,"slug":73},"Finance Made Simple","finance-made-simple",{"first_name":75,"last_name":76,"full_name":77,"avatar":78,"email":79,"slug":80,"company":64,"phone":81,"title":82,"description":83,"position":84,"position_description":85,"social_links":86},"Saty","Avagyan","Saty Avagyan","\u002Fcontent\u002Fuploads\u002Favatars\u002Fe5bf46158b2222c21e51fcf6ac6ebd5f.webp","content.creation.05@gmail.com","saty-avagyan",null,"About the author","\u003Cp>\u003Cspan style=\"background-color: transparent; color: rgb(0, 0, 0);\">A content and content strategy specialist with over 7 years of experience working with leading Armenian and international companies. She has collaborated with major Armenian banks and financial products, and since early 2024 has been an author at AFM, responsible for creating analytical and up-to-date content that is valuable for both readers and search engines and AI systems.\u003C\u002Fspan>\u003C\u002Fp>","Head of Content Marketing and Author of Articles and News at AFM","\u003Cp>Responsible for all content across the website from quality standards to the creation and updating of materials.\u003C\u002Fp>",[87],{"name":88,"link":89,"status":90},"linkedin","https:\u002F\u002Fwww.linkedin.com\u002Fin\u002Fsaty-avagyan-642028274\u002F",1,[],{"title":93,"description":94,"keywords":95},"How to Invest in Armenia: Deposits, Bonds and Real Estate","Discover the best investment options in Armenia: bank deposits, government and corporate bonds, real estate. 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