Review of Armenia and Georgia Business Visas

Armenia and Georgia are small neighboring countries in Caucasus. Both countries welcome foreign investors and entrepreneurs and offer immigration benefits such as short-term and long-term business visas and residence permits.

Area29,743 km269,700 km2
GDP (2016), USD10,55 B14,32 B
GDP per capita (2016), USD3924.94079,8
Average Salary, USD376393

Business Owners. In addition to regular visas, Armenia grants business owners 1-year (short-term) and 5-year (long-term) residence permits. No minimum investment or income are required and there are no restrictions on the size or type of business one can do. Freelancers, as business owners, also can get long-term permits that can be renewed every 5 years. Important investors may be granted 10-year special residence permits issued in the form of a special passport.

Georgia issues permanent residence permits to foreigners who invest more than 300,000 GEL (around 124,000 USD) in the country. The amount of the investment has to be confirmed by an auditor. If the investment is less than this amount the foreigner can qualify for a 1-year work residence permit if he/she personally works for the business. Freelancers also can qualify for a work permit provided they show a bank account statement with sufficient funds on it (currently around 1,700 USD).   

Yerevan, Armenia

Real Estate Owners. Owning real estate in Armenia is not by itself sufficient to get a residence permit. However, if the foreigner rents out the property and receives rental income he can get a 1-year or 5-year residence permit as a business owner. Armenia plans to change its immigration laws to automatically issue 1-year residence permits to all real estate owners, irrespective of the market value of the property.

Georgia issues 1-year short-term residence permits to owners of real estate, provided that the market value of the property is higher than 35,000 USD. A market value assessment report will have to be presented together with the residence permit application.

Family Members. Armenia defines family broadly and allows not only spouses and minor children but also parents, adult sons and daughters of resident permit holders to obtain resident permits. Moreover, 5-year and 10-year permit holders can get residence permits for their brothers, sisters, grandparents and grandchildren.

Georgia allows only spouses and minor children of residence permit holders to obtain residence permits for family reunification purposes.

Georgia Business Visa

Tbilisi, Georgia

Path to Citizenship. Armenia allows a foreigner to apply for citizenship after three years of holding a residence permit. The foreigner will have to take a test on Armenian constitution in Armenian language. Armenia allows dual citizenship and does not require foreigners to give up their current citizenship.

In Georgia a foreigner can apply for citizenship after five years of residence and after taking a test on the knowledge of Georgian language, history and basic principles of law. Georgia does not allow dual citizenship and the foreigner will have to renounce his/her current citizenship.

InvestmentNo minimum investment requiredNo minimum investment required$35,000 investment in real estate$113,000 (GEL 300,000) investment
Government Fees
Timeline30 days30 days10-30 days20-30 days
FamilySpouse, son, daughter, parentSpouse, son, daughter, parent, sibling, grandparent, grandchildSpouse, minor child or incapable dependentSpouse, minor child or incapable dependent
CitizenshipAfter 3 yearsAfter 3 yearsAfter 5 yearsAfter 5 years
Read More on Georgia Immigration
2018-03-31T09:18:28+04:00 November 17th, 2017|