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Georgia has a strategic location in the Caucasus region and is a primary spot for investors who want to access both the European and Asian markets. The country boasts a uniquely liberal business and trade regimes, low taxes, developing infrastructure and attractive visa and immigration policy. Since March 2017 holders of Georgian passports can travel visa-free to EU/Schengen countries.
Georgia is a modern and fast growing country with rich history and traditions, beautiful nature, excellent cuisine. The cost of living is very low compared to other European countries. A list of indicative prices can be found here.
A Georgian residence permit grants you the right to unrestricted stay in the country and the right to engage in any lawful activities, such as doing business, working, studying or simply retiring. A resident may invite other foreigners to Georgia. Residents enjoy constitutional rights and freedoms, including rights to work, healthcare, social security, education, property and privacy rights, freedom of speech, conscience, religion and belief. Georgian residents are not obliged to serve in the military.
Georgia offers visas, residence permits and tax residency status to investors, property owners, entrepreneurs, freelancers, workers and their family members, with a path to citizenship.
Residence Permit | Investor (Permanent) | Property Owner (Short-Term) | Worker/Freelancer (Temporary) | |
---|---|---|---|---|
Validity | Permanent (conditional for 5 years) | One year, extendable | Six months and longer, extendable | |
Requirements | Invest in economy or real estate (except agricultural land) | Invest in real estate (except agricultural land) | Freelance, work or run a business | |
Min. Investment | US$ 300,000 | US$100,000 | N/A | |
Government Fees & Timeline | 30 Days | GEL 180 (US$73) | GEL 210 (US$85) | |
20 Days | GEL 300 (US$122) | GEL 330 (US$134) | ||
10 Days | N/A | GEL 410 (US$166) | ||
Passport/Citizenship | After 10 years of residence |
Please note that on May 30, 2019, Georgia raised investment requirements for applicants for permanent and short-term residence permits. These changes are effective from July 5, 2019. The text of the amendments is available here (in Georgian).
To qualify for a permanent (investor) residence permit you will need to invest at least US$300,000 in the Georgian economy - real estate or business. The permit is initially issued for a period of 5 years, after which it becomes permanent, provided that you have maintained your investment throughout this period.
If you invest in a Georgian business the latter will also need to meet minimum annual turnover requirements (US$50,000 to 120,000) to allow you to maintain your permit and remove the condition after 5 years. You will have to submit annual reports showing that the minimum turnover requirements have been met. If you do not meet these requirements your residence permit will be revoked.
If you invest in real estate your residence permit will be revoked if you sell or otherwise dispose of your property during the 5-year conditional period. However, you are allowed to sell the property and acquire another Georgian property of equivalent or greater value.
Header | Real Estate | Business | ||
---|---|---|---|---|
Minimum Investment | US$300,000 | |||
Minimum Annual Turnover | N/A | Year 1 | US$50,000 | |
Year 2 | US$100,000 | |||
Year 3 | US$120,000 | |||
Year 4 | ||||
Year 5 |
​Although permanent residence permits are issued for an indefinite period of time the residence cards must be replaced every five years. The value of the investment has to be verified by an independent auditor. Moreover, the application for a permanent residence permit has to be supported by three business managers who are Georgian citizens (or by a member of the Georgian government).
To qualify for a short-term residence permit you will need to become an owner of real estate, such as an apartment, house, development land or any other residential or commercial property (but not agricultural land) worth US$100,000 and more. The value of the investment has to be verified by an independent auditor. A short-term residence permit is valid for one year, and can be extended by one-year increments for another 5 years, after which it can be converted into a permanent residence permit, provided that the investment remains in place.
The average prices in the capital Tbilisi are around US$900 per sq.m., with properties in the center closer to US$1,500. Prices are slightly lower in the second largest city, the seaside resort Batumi. Rental properties are generally more profitable in Tbilisi which hosts tourists all year round, whereas Batumi is popular in summer. For US$ 35,000, it is feasible to purchase a one-bedroom apartment in Tbilisi.
To qualify for a work residence permit as a business owner (entrepreneur, freelancer) or an employee you will have to produce an employment agreement or a similar document certifying your employment. Please note that the applicant's monthly salary cannot be less than US$347 (five times monthly subsistence minimum for working age male). If this document does not show your monthly income it is recommended to produce a bank account statement from a local bank confirming a balance of around US$4,163 (12 mo. x $347/mo.).
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Moreover, the annual turnover of the employer shall not be less than GEL 50,000 (around US$18,300) per each foreign employee that applies for residency. A lower amount of GEL 35,000 (US$12,800) per foreign employee applies to medical and educational institutions.
A work residence permit is issued for a term of up to one year (typically six months), and can be extended for another 5 years, after which it can be converted into a permanent residence permit, provided that the employment continues throughout this period.
If you hold a Georgian residence permit your family members also can apply for "residence permits for family reunification." The following are considered family members:
A residence permit for family reunification is issued if documents are presented showing the kinship (e.g. marriage certificate, birth certificate) and availability of financial means (income or savings) to support the family members.
A residence permit for family reunification is normally issued for a term of up to one year, and can be extended for another 5 years (6 years in total), after which it can be converted into a permanent residence permit.
Please note that if you hold a property ownership (short-term) residence permit your family members qualify for the same type (i.e. short-term) residence status. If you hold an investor (permanent) residence permit only the following family members qualify for the same type (i.e. permanent) residence status: spouse, minor children (under 18), supported on disabled persons fully dependent on you or legally incapable persons fully dependent on you.
A foreigner may be granted tax residency status in Georgia if he qualifies as "high net worth individual":
In addition to the above requirements, the applicant must show that he:
The documents are filed with the Revenue Service, which has seven business days to make a determination on the eligibility of the applicant. If the application is erroneous or incomplete the applicant will be given up to 30 days to fix the errors. Once the eligibility is confirmed the case is forwarded to the Ministry of Finance, which issues to the applicant a certificate of tax residency as well as a 9-digit tax identification number.
The application can be filed in person or through an authorized representative. The tax residency certificate is issued for one tax year. It contains information on the resident's address, tax ID, and a confirmation that he is a resident of Georgia for tax purposes.
Georgia's police and security service conduct thorough background checks for each candidate. Accordingly, there may be no guarantees that your application will be approved. In practice, applicants from Western countries are treated more favorably, whereas applicants from countries such as Iran, Iraq, Syria or Pakistan will have to show a really strong case to quality for a residence permit.
Georgian passport ranks 49th in the world (as of 2019) and allows visa-free travel to 114 countries and territories, including EU/Schengen countries, most of CIS countries, Iran and Turkey.
Citizenship by Exception. The President of Georgia may grant Georgian citizenship by way of exception to a foreigner who has made a contribution of exceptional merit to Georgia or based on state interests. Among other things, the following circumstances may be be considered in deciding on a citizenship petition:
Citizenship by Residence. You may apply for a Georgian passport after 10 years of residence in the country. The residence must be continuous, meaning that you cannot spend more than 90 days outside Georgia during a year (except when you leave Georgia for up to two years for education or treatment). In addition to the residency requirement, you will have to show basic knowledge of Georgian language, history and law, and that you have a job or own real estate or a business interest in Georgia.
If you are married to a Georgian citizen you may apply for Georgian citizenship after 5 years of continuous residence in the country. You still have to show basic knowledge of Georgian language, history and law. However, there are no requirements to have a job or own real property or business interests in Georgia.
Georgia restricts the possibility of dual citizenship. You may retain your current citizenship if you are granted Georgian citizenship by exception. However, if you are granted Georgian citizenship on the basis of residency you will have to renounce your current citizenship.
Please note that, unless you qualify for visa-free travel to Georgia, you must have a long-term visa and at least 40 days before your lawful status in Georgia expires to be able to apply for a residence permit (except permanent (investor) residence permit).
​Nationals of almost 100 countries (listed below) can travel to Georgia visa-free. They are allowed to enter Georgia without a visa and stay in the country for one full year. As an exception, nationals of Iran are allowed to stay in the country for up to 45 days during one visit.
Moreover, holders of visas or residence permits of around 50 countries (listed below) can also travel to Georgia visa-free. They are allowed to enter Georgia without a visa and stay in the country for up to 90 days in any 180-day period.
For nationals of most countries it is not necessary to deal with embassies as ordinary visas can be obtained electronically (e-visa).
Please note that you may not be able to apply for a residence permit in Georgia if you visit the country on a 30-day visa because the requirement of having at least 40 days before the expiry of the lawful status will not be met.
The nationals of countries that do not qualify for an e-visa must obtain a regular (sticker) visa from a Georgian embassy/consular office abroad. Single-entry visas allow visits to Georgia for a maximum of 30 calendar days. Multiple-entry visas allow visits to Georgia for up to 90 days in any 180-day period.
Please note that it is not generally possible to get a Georgian visa on arrival (at the border). Visas are not subject to extension, unless there are exceptional circumstances. However, it may be possible to defer the obligation to leave Georgia if your visa is still valid for at least 7 days.
Immigration visas are issued to foreigners coming to Georgia for work and business (D1), freelancing (D2), family reunification (D4) as well as to owners of real estate worth $100,000 and higher (D5).
If you need an immigration visa you can apply for it at Georgian embassies abroad. It is also possible to obtain an immigration visa in Tbilisi, provided that the applicant has at least 45 days before his/her lawful status expires. You will have to submit documents showing 1) purpose of visit 2) sufficient financial means 3) proof of accommodation 4) travel and health insurance. Owners of real estate do not have to provide these documents. Instead, they must show a certificate of ownership of real estate.
An immigrant visa is normally issued within 30 days. Owners of real estate can get a D5 visas in 10 days. The government fees for obtaining an immigration visa are around US$ 20.
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Attorney
LL.M. Georgetown University
New York Bar | Armenia Chamber of Advocates
We are a team of licensed immigration lawyers based in Armenia and Georgia. Our primary commitment is to provide quality service to clients at a compelling value that helps manage risk, overcome regulatory issues and advance their personal and business goals. We combine local experience with international expertise to provide quality legal advice in prompt, effective and efficient manner.
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