Seller obtains a special reference on restrictions on the property at the State Committee of the Real Property Cadastre of the Republic of Armenia (SCRPC)
Agency : State Committee of the Real Property Cadastre of the Republic of Armenia (SCRPC)
As part of the due diligence process, the seller obtains an extract from SCRPC about the encumbrances and other restrictions (mortgage, easement, etc.) on the real property which could be obtained online prior visiting the SCRPC office.
Although notaries can obtain the relevant information using an online system, in majority of cases clients prefer to go to the SCRPC in person to obtain the official physical extract with an official stamp. Obtaining the extract online is likewise not common since an electronic signature, which very few people possess, is required to use this service.
Time and cost: 3 days, AMD 10,000
- AMD 10,000 (regular procedure)
- AMD 20,000 (expedited procedure – 24 hours)
- AMD 60,000 (2 hours procedure)
Regular procedure is most common and takes 3 days.
Payment of stamp duty and notarization of sale-purchase agreement by public notary
Agency : Notary
The parties or their representatives meet at the notary’s office. After the notary completes checking the documents the parties execute the agreement in the notary’s presence following which the notary authenticates the agreement by signing and stamping it. The notary collects both the notary fees and the government fees, typically in cash at the end of the procedure.
The documentation for notarization of sale-purchase agreement shall include:
- Sale-purchase agreement
- Registration certificate (in possession of the seller)
- Reference on restrictions (obtained in Procedure 1)
- Corporate documents of the parties (e.g. charters, foundation agreements, powers of attorney)
Time and cost: 1 day, AMD 20,000; (AMD 5,000 (Stamp duty for Notarization) + between AMD 10,000 to 20,000 for Notary’s fees)
The local office of the SCRPC registers the title and provides a registration certificate to the new owner
Agency : The State Committee of the Real Property Cadastre of the Government of the Republic of Armenia (SCRPC)
The law specifies 30 working days for registration of the ownership titles over real property. Either seller or buyer can submit all documents for registration. According to the law ownership right arises only after the registration has been completed.
The documentation required for registration include:
- One copy of the notarized agreement in case the parties chose to undergo Procedure 2 (otherwise the parties shall sign a sample agreement on site);
- Statement certifying the payment of the state duty; state registration certificate of the buyer;
- In case an authorized person is representing the company then a power of attorney and the copy of the latter’s passport or
- If the company is represented by its director then the latter’s passport’s copy and the state registration certificate of the company certifying its position.
According to the State registration of rights to property of October 20, 2016, the current applicable fees are included in Articles 73 and 74:
- 25,000 AMD for the standard registration procedure in 4 working days;
- Double fee (50,000) for title registration in 3 working days; and
- Triple fee (75,000) for title registration in 2 working days.
- Six times the fee (150,000) for title registration within 2 hours.
Registration fees can be paid:
- Online via web-portal of SCRPC (www.e-cadastre.am);
- By using the terminals at SCRPC; or
- At any commercial bank.
Stamp duty in this case equals AMD 40,000, which can be paid at the commercial bank.
Time and cost: 4 days, AMD 65,000
- AMD 40,000 (state duty for registration) + AMD 25,000 (registration fee, regular procedure on 4th working day);
- AMD 40,000 (state duty for registration) + AMD 50,000 (registration fee, expedited procedure on 3rd working day);
- AMD 40,000 (state duty for registration) + AMD 75,000 (registration fee, super fast on 2nd working day);
- AMD 40,000 (state duty for registration) + AMD 150,000 (registration fee, super super fast in 2 working hours)
State duty fee: 40,000 AMD, based on Amendments to Law “On State Duty” HO-167-N adopted as of 20.10.2016. State duty for registration of commercial buildings exceeding 200 square meters was set in the amount of AMD 40,000.
Registration Fees: Law “On Introducing Amendments and Changes to Law “On State Registration of the Rights to the Property”” HO-166-N adopted as of 20.10.2016:)