Investors who are interested in exploring available residency options in Georgia can obtain a residence permit that will allow them to remain in the country long-term. The Georgia residency by investment option is open without nationality limitations, however, a minimum investment amount is mandatory, as per the Law on Promotion and Guarantees of Investment.
After 10 years of continuous, legal residency in Georgia, foreigners may be eligible to apply for Georgian citizenship, if they meet certain conditions, such as knowing the local language, history, and customs, and/or have married a Georgian citizen, or are engaged in economic activities considered important to the Georgian state and economy.
Georgia Residency Options:
There are several types of residence permits, but the focus here will be on three: the temporary, the investment, and the permanent residence permits:
A. Investment Residency
Georgia grants permanent residency to foreigners investing at least USD 300 000 equivalent in GEL in Georgia. this provision is prescribed in the Law of Georgia on Promotion and Guarantees of investment. in such cases, residence permits are also issued to the investor’s family members, which include a spouse, underage dependent, and/or fully dependent incapacitated person.
According to new regulations which came into effect on July 2, 2019, there are 2 different options for obtaining an Investment Residence Permit (Permanent Residence permit) in Georgia:
1. By making a personal investment in real estate; buying non-agricultural real estate (land, apartment, commercial area, etc.) in Georgia which costs more than USD 300,000.
An Appraisal report will need to be prepared evidencing that the market price of the property exceeds USD 300,000.
The Investment Residence Permit will initially be issued for 5 years. If after 5 years, the applicant does not sell the real estate property, they will be granted a Permanent Residence Permit of Georgia.
2. Obtaining Investment residency by investing in Georgian Company.
Foreigner (and his/her family members) who holds an investment residence permit issued based on making a USD 300,000 (equivalent in GEL) worth of investment, and who has shown an annual turnover received from the entrepreneurial activity for the minimum amount of:
– USD 50,000 for the first year;
– USD 100,000 for the second year;
– USD 120,000 for the third, fourth, and fifth years.
An evaluation report should be prepared to evidence that the amount of investment exceeds USD 300,000.
Following the incorporation and investment, the Investment Residence Permit will be issued for 5 years.
– Documents certifying USD 300,000 investment in real estate or investment in a newly-formed Georgian company.
– Criminal Record report from your local police agency.
B. Temporary residency
1. Residency Through Business
Georgia grants temporary residency to applicants who either register a company in Georgia or hold a minimum six-month employment contract for a Georgian company.
According to new regulations that came into force on July 5th, 2019, it is now obligatory that companies registered by foreigners need to have a minimum annual turnover of GEL 50,000 (around USD 20,000) if they are to be eligible for temporary residency.
– For most types of business, no start-up capital is required for incorporating a Limited Liability Company in Georgia.
– Registration is only carried out once, and there is no need for registration renewal annually.
– The number of shareholders can be from 1 to 50 persons and there are no requirements regarding having local partners. An LLC can be owned and managed by foreign citizens.
– Foreign employees should be registered in a company with a minimum annual turnover of GEL 50,000 per foreigner employed. They should also have a contract valid for at least 6 months and receive a minimum GEL 1,000 per month salary.
– Clean Criminal Record
2. Residency Through Property
Foreign Applicants who invest in non-agricultural real estate in Georgia are eligible for a residence permit if certain conditions are met.
According to new regulations that came into force on July 5th, 2019, the minimum price requirement for real estate increased and became USD 100,000 (instead of the USD 35,000 it was previously).
The Temporary residence permit of Georgia is issued for periods of 6 months up to 6 years. Usually, the first issue is for 6 months or 1 year.
After the applicant receives their Georgian Residence Card, his/her spouse and children are also eligible for a TRP.
Applicants that are interested in establishing a company in Georgia do not necessarily need to visit the country to do so.
– Documents certifying USD 100,000 investment in real estate or investment in a newly-formed Georgian company.
– Criminal Record report from your local police agency.
C. Georgia Permanent Residence Permit
A permanent residence permit is issued to a spouse, parents, and children of a citizen of Georgia; also to a foreign citizen who, based on a temporary residence permit, has lived in Georgia during the preceding 6 years. This term does not include the period of residing in Georgia to obtain education or receive medical treatment and to perform activities in diplomatic and other equivalent representative offices.
1. Obtaining a Georgian residency through purchasing a property. (all family members)
2. It gives you all the rights that Georgian citizens have. (except voting)
3. Ease of obtaining a visa and cheap travel to Schengen countries, Canada, and the United States.
4. Annual value added is about 12% and capital retention as foreign exchange in US dollars.
5. Free trade policies and No restrictions on trade operations with other countries.
6. Reasonable and acceptable tax.
7. Per capita income is suitable for Georgian citizens.
8. Low customs clearance tariffs and appropriate customs services
12. Path to citizenship
The requirements and qualifications required to obtain Georgia residency or citizenship are listed above in the “About Georgia Citizenship and Residency” section.
1. Choose an Investment
You should be acquainted with the country’s legislation beforehand and choose the real estate you would like to purchase to get a residence permit in Georgia. The company’s immigration specialists will select the object that suits your requirements and provide comprehensive assistance in obtaining a residence permit.
2. Purchase of real estate
The property purchase involves the conclusion of the sale contract and registration of the object ownership in the Public Service Hall or in the territorial office of the National Agency of Public Registry. Our company’s lawyers will provide legal support in the process of making a purchase.
3. Acquiring Georgian residency
After purchasing real estate, you will need to submit an application, an extract from the public register, the sale contract, and other documents prescribed by law to the Public Service Hall for the short-term residence permit. The processing of a residence permit application depends on the size of state duties and takes approximately 10-30 business days. After approval of the request, you will be issued a residence permit for 1 year with a provision for extension.
Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:
Privacy World can also help you with incorporating your company in Georgia, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.
Want Privacy World to handle your case? Have any questions? Contact us!
No. Upon obtaining your citizenship in Georgia, you will have to surrender your current passport.
Yes. The dependents of the applicant can be included in the application.
You can apply for citizenship after ten years of continuous legal residency in Georgia.
No. There is no language test to obtain residency in Georgia.
No. There is no knowledge test in Georgian residency.
Yes. The applicant should know Georgia’s history and the basis of Georgian legislation to be examined by a special commission.
Tax residents in Georgia are those who reside for at least 183 days in Georgian territory.
In most cases, you should renew your residency permit no less than 40 days before expiry and no more than 90 days before expiry.
Yes. Applicant should know the state language to the pre-defined level.
Yes. It will be possibly terminated if a foreigner fails to apply to any authorized entity for a residence card within 6 months.
Tax residents are only taxed on their Georgian-source income. This means that income earned abroad is not subject to Georgian taxation.
There is no net worth tax in Georgia.
There is no inheritance tax in Georgia.
No nationality is officially restricted.