Georgia Introduces Stricter Residence Permit Rules

January 29, 2019 in Georgia

Radical Changes in Georgia Residence Permit Rules are Expected

Changes to the Law on Legal Status of Aliens and Stateless Persons were confirmed by the Legal Affairs Committee of the Georgian Parliament. This was the second reading of the amendments in the Committee and the changes will be discussed at the plenary session of the Parliament.

The amendments will affect the following types of Georgian residence permits:

Work residence permit. The Parliament shall approve the list of jobs for which work residence permits can be issued. Such permits can only be issued if the employer was not able to find a Georgian citizen with relevant qualifications for the job.
Permanent residence permit. In addition to the 6-year residency requirement, an applicant for a permanent residence permit will have to show knowledge of Georgian language and ownership of Georgian real estate worth at least US$200,000 or other investment in the amount not less than US$300,000.
Investment residence permit. In addition to investing GEL 300,000 (approximately, US$113,000) in Georgian economy (except for residential property), an applicant would have to show creation of 8 new jobs for Georgian citizens. Alternatively, a permanent residence permit may be acquired by investing US$100,000 and buying another US$400,000 worth of treasury bonds with five-year maturity.
Short-term residence permit. Short-term residence permits are expected to be canceled, which means that it will be no longer possible to obtain residence permits by acquiring property worth at least US$35,000. Parliamentary Committee Confirms Changes for Residency Permits for Foreigners, AGENDA, (Nov. 6, 2018).

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