The purchase of apartments in new buildings in RA will become a remote visit without a notary

Foreign investors and RA citizens living abroad will get a unique opportunity to purchase real estate in new buildings in a completely remote format, bypassing complicated notary procedures and personal visits.

At the July 23 session, the Armenian government approved a project that significantly simplifies the process of purchasing property in apartment buildings under construction or already commissioned. Head of the Cadastre Committee Suren Tovmasyan the initiative presented by provides for the introduction of a fully electronic system for real estate transactions with mortgage lending.

The essence of the innovation is the integration of a special template in the electronic system of the Cadastre. From now on, the buyer, the developer and the bank can sign and validate a tripartite contract in the digital domain from anywhere in the world.

Then the financial institution itself will take over the obligation to submit that document to the state registration of ownership rights, freeing the buyer from unnecessary hassles.

In the past, for the implementation of such transactions, the physical presence of the buyer at a notary operating in the Republic of Armenia or the preparation and sending of a corresponding power of attorney was strictly required, which required additional time and costs from persons outside the country’s borders. Since banks already thoroughly check the client’s solvency and all necessary data when issuing a mortgage, it was decided to cancel the double notarization stage.

Referring to the new regulation, Deputy Prime Minister Tigran Khachatryan emphasized that this step not only significantly simplifies the administration, but also testifies to the growing confidence of the state in the technologies used in the modern digital environment.

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