Minimum Investment for Investor Residence Permit in Georgia to Be Raised to US$300,000 from US$112,000
Under current regulations, a foreign investor may qualify for an investor residence permit in Georgia if he/she invests GEL 300,000 (US$112,000) in the economy of Georgia. Investor residence permit is permanent.
These regulations are likely to be changed by upcoming legislative amendments. According to the new rules, expected to come into effect in 2019, the amount of investment required to qualify for an investor residence permit in Georgia would be raised to US$300,000. Moreover, the investor residence permit will be issued for only five years. To convert it into a permanent one the applicant would have to maintain his investment throughout these five years. If the investment was made in a business entity, the latter would have to show an annual turnover of at least US$120,000 during each of the five years.
An alternative bill requires an investment of US$100,000 in the Georgian economy coupled with the purchase of US$400,000 worth of Georgian five-year government bonds or an investment of US$300,000 and creation of at least eight jobs.
Residence Permit | Investor | Property Owner (Short-Term) | Worker/Freelancer (Temporary) |
|---|---|---|---|
Bill "A" | Investment of at least US$300,000 in economy or real estate (except agricultural land). Residence is issued for five years. It can be converted into a permanent residence permit if:
| Investment of at least US$100,000 in real estate (except agricultural land) |
|
Bill "B" |
| To be repealed | Issued only to specialists whose professions are included in a list approved by the Georgian government |