Purchasing Real Estate and Vehicles Only Possible Cashless, Says Nikol Pashinyan

In a joint session of the permanent committees of the National Assembly, Prime Minister Nikol Pashinyan announced that soon, it will be possible to purchase apartments and vehicles only through cashless transactions.  

“We are adopting legislative regulations that, for example, will make it impossible to conduct cash transactions for buying and selling real estate. Or, it may be possible to do so, but if the transaction is challenged later, it will have no legal force. Therefore, I want to draw everyone’s attention to the fact that purchasing an apartment or a car will not be possible in cash. All transactions must occur through cashless methods. This, in turn, will lead to additional fiscal effects,” said Pashinyan. 

Pashinyan also emphasized the Government's determination to implement a universal declaration system. “All citizens of the Republic of Armenia must declare their incomes. It will come into force in 2024 for the incomes of 2023. This has significant economic, political, and civilizational importance,” said Pashinyan.