Minimum Investment for Property Owner Residence Permit in Georgia to Be Raised to US$100,000 from US$35,000
Under current regulations, a foreign investor may qualify for a short-term (one-year) renewable residence permit in Georgia if he/she acquires property worth US$35,000 and higher, except for agricultural land.
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 a short-term residence permit in Georgia would be raised to US$100,000.
An alternative bill recommends to repeal the short-term residence permits altogether. However, even if this version of the bill is approved a foreign investor would still qualify for a one-year D5 immigration visa.
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| To be repealed | Issued only to specialists whose professions are included in a list approved by the Georgian government |