# Exit — Caucasus & Eastern non-EU

> Part of [Exit — universal contract](../exit.md). Cross-region patterns + liquidity heatmap live there.

## 🇬🇪 Georgia
- **DOM**: Tbilisi (Vake/Saburtalo/Vera) 60-120 / Batumi 90-180 (Russian + Iranian + Israeli demand) / regions 150-300+
- **Commission**: 3-5% seller-side typical (often split or buyer-pays in Batumi off-plan); 18% VAT only on services where applicable
- **Contract**: agency contracts informal; Public Service Hall (House of Justice) registration takes ~1-3 days
- **MLS**: no MLS; MyHome.ge + SS.ge dominate
- **Discount**: 5-15% off asking; off-plan Batumi narrower
- **Sell-side**: **NO CGT after 2-yr ownership** (residents and non-residents alike); <2 yrs taxed at 5% of gain (with documented basis) or 1.5-2% of sale price (without); **transaction costs ~0.1-0.5% (lowest in region)**; commission 3-5%
- **Liquidity**: 🟢 MEDIUM-HIGH Tbilisi Vake/Saburtalo/Vera (Russian + Israeli + diaspora demand 2022-2026); 🟠 MEDIUM Batumi (seasonal coastal + STR); 🔴 LOW regions
- **Quirks**: **Lowest friction in Eurasian region** — fast registration, no CGT after 2 yrs, foreigners can buy freehold (except agricultural land); **2022-2024 Russian relocation surge** drove Tbilisi prices up 40-60% (digesting 2025-2026); Batumi off-plan rental-pool deals often disappoint vs. marketed yields; foreign-buyer pool sensitive to regional geopolitics + Russian capital cycle

## 🇦🇲 Armenia
- **DOM**: Yerevan (Kentron / Arabkir / Nor Nork / Davitashen) ~90-180 (post-2022 Russian-relocant wave compressed) / Gyumri 120-250 / Vanadzor 150-300 / regional 200-365+ [verify with State Committee of Real Estate Cadastre / SCREC]
- **Commission**: **3-5% seller-side typical** (often split or buyer-pays); 20% VAT only on services where applicable; informal market beyond major Yerevan brokers
- **Contract**: bilateral sale agreement via notary → SCREC (State Committee of Real Estate Cadastre) registration takes ~3-7 days
- **MLS**: NO MLS; **List.am + Estate.am + MyRealty.am** dominate; Yerevan-centric; **Russian-language portals** (cian.am-style cross-listings) for Russian-relocant segment
- **Discount**: 10-25% off asking 2024-2026 (post-Russian-relocant wave appreciation digestion); regional deeper
- **Sell-side**: **CGT integrated into PIT** — flat 21% on gain (2026 — verify SRC); **NO CGT exemption equivalent to GE 2-yr rule**; commission 3-5%; State Registry fee modest; primary residence partial exemption — verify SRC
- **Liquidity**: 🟢 MEDIUM-HIGH Yerevan Kentron / Arabkir (Russian + IR + LB diaspora demand 2022-2026); 🟠 MEDIUM Gyumri / Vanadzor; 🔴 LOW regional; **Russian-relocant wave 2022-24 drove ~50% peak Yerevan appreciation** (digesting 2025-2026)
- **Quirks**: **HIGH SEISMIC 1988 Spitak M6.8 baseline (~25,000 deaths) + Yerevan/Gyumri/Vanadzor microzoning**; **post-2020/2023 Karabakh war + ~120k displaced Sep 2023 + CSTO suspension Feb 2024**; agricultural land barred for foreigners; STR Decision 1158-N (2018); coworking IT-based hubs Tumo + Impact Hub Yerevan; Beeline / VivaCell / Ucom fiber gigabit; **Investor Residency AMD 50M (~USD 130k) deposit OR property → 5yr renewable**; **Citizenship by descent (Diaspora) Art. 13 streamlined** for global Armenian diaspora (~7M); naturalization 3yr PR + dual since 2007; **Romanian-style EU-passport-by-descent NOT applicable** — AM is not EU candidate

## 🇦🇿 Azerbaijan
- **DOM**: Baku (Yasamal / Nasimi / Sabail / Narimanov) ~90-180 / Ganja 150-300 / Sumgayit 150-300 / Karabakh / East Zangezur reintegrated zones ANAMA-de-mining-cert-required / regional 200-365+ [verify with State Service for Property Issues / SSPI]
- **Commission**: **2-4% seller-side typical** + 18% VAT (ƏDV) on commission where applicable; some split or buyer-only; informal market beyond major Baku brokers
- **Contract**: bilateral sale agreement via notary → SSPI (State Service for Property Issues) registration via ASAN service centers (~3-7 days)
- **MLS**: NO MLS; **Bina.az + Lalafo.az + Tap.az** dominate; Azerbaijani + Russian + English business language listings
- **Discount**: 10-20% off asking; oil-revenue-correlated cycle; karabakh / East Zangezur specifically AZ-citizen-priority subsidized (foreign-buyer access narrower)
- **Sell-side**: **CGT integrated into PIT** — progressive 14-25% on gain (2026 — verify Min. Tax); commission 2-4%; SSPI registration fee modest; primary residence may be exempt under conditions — verify Min. Tax
- **Liquidity**: 🟢 MEDIUM-HIGH Baku Yasamal / Nasimi / Sabail prime; 🟠 MEDIUM Ganja / Sumgayit; 🔴 LOW regional; karabakh / East Zangezur reintegration zones AZ-citizen-priority subsidized — foreign access narrow
- **Quirks**: **2020+2023 Karabakh + East Zangezur reintegration** — ANAMA de-mining certification required for newly-reintegrated zones + AZ-citizen-priority subsidized housing exclusionary for foreigners; **dual citizenship LIMITED exceptions** (must renounce in many cases per Citizenship Law); **Caucasus + Caspian seismic (2000 Baku M6.8) + AzDTN 2.4-1 2010 code + Caspian sea-level falling 2010-24 ~1m + Absheron mud volcanoes (unique)**; STR Decree 1146 (2017); coworking ABB Innovation Center / SOCAR business; Azercell / Bakcell / Nar 5G; **TRP via real estate ≥AZN 100k (~USD 60k) → 1yr renewable to 5+**; PR after 8yr continuous TRP; Strategic Investor Visa AZN 540k priority sectors; naturalization 5yr PR + Azeri language; **very low crime; oil-revenue stabilized via SOFAZ sovereign fund**; AZN CBA-managed peg-to-USD effective stability