Georgian real estate
Recently the purchase of the real estate by foreign investors has been common in Georgia. And that has led to significant growth in Georgia’s real estate market.
Foreign investors are able to obtain a residence permit in Georgia by purchasing a property with an official valuation of $100,000 USD.
Some regulations have been enacted recently in Georgia to attract foreign investors and their capitals to Georgia’s real estate in the best possible way.
The most important advantage of buying a property in Georgia is getting a residence permit in Georgia. The most important regulation that the Georgian government has made to increase the real estate transactions is the ease of obtaining residence permits for buyers.
According to Georgian’s new law about residency, a foreign applicant is able to get a one-year residency through buying a property with an official evaluation of $100,000, and then if they do not have any legal problems during the validity period they’ll be able to extend it consecutively.
some advantage of purchasing a property in Georgia
- Obtaining a Georgian residency through purchasing a property. (all family members)
- it gives you all the rights that Georgian citizens have. (except voting)
- Ease of obtaining a visa and cheap travel to Schengen countries, Canada, and the United States.
- Annual value added is about 12% and capital retention as foreign exchange in US dollars.
Also, with the possibility of offering the property as an annual rent and receiving 1% of the value of the property as monthly rent, you can have a perfect investment in Georgia by buying several houses.
Investing in Georgia
Investing in Georgia can be done in three ways: real estate, tourism, and business start-ups. Investing in Georgia can bring a special five-year residency for you and your family.
Recently because of economic and political changes, life has been changed in Georgia.
On the other hand, approaching EU citizenship standards has made the country a good place to invest.
Georgia supports the open economy. investment rules are clear, and also in the world statistics, Georgia is one of the top 10 countries in terms of ease of setting up different businesses.
Georgia’s total population is about four million.
So you have to be careful about the investment methods that you choose.
Investing in Georgian real estate, investing in Georgian tourism, and in some cases, agriculture.
and animal husbandry, industry and energy, are well-known opportunities to invest, but before doing anything, you should carefully examine the right options.
Georgia has consistently been creating the best conditions for investors, making it easy in accordance with the EU’s standards.
The Georgian government has facilitated hotel and tourism construction services. Provides proper infrastructure, collects low taxes, and provides appropriate customs services.
Georgia has a free trade agreement with the European Union, Turkey, and other countries such as Russia and Kazakhstan, which allows Georgia’s products to be exported without any customs duties or taxes.
some Investment advantages in Georgia
- Free trade policies and No restrictions on trade operations with other countries.
- Reasonable and acceptable tax.
- Per capita income is suitable for Georgian citizens.
- Low customs clearance tariffs and appropriate customs services
- Standard services and the advancement of inbound and outbound transportation.
- Governmental support.
- Low labor cost in Georgia.
Due to the latest changes in Georgia’s residence law, with an investment of $300,000 USD, you can obtain a special residence permit for Georgian investment for 5 years for yourself and your family members.
Obtaining Georgian residency
Low living costs, good economic conditions, democracy and freedom, safety, and so on are some of the main reasons for applying for residency in Georgia. Georgia’s membership in the European Union and NATO doubles the interest of Georgia’s residency.
Residence in Georgia means obtaining a residence permit for one or more years. A person who obtains a residence permit in Georgia has all the rights of a citizen of Georgia except the right to vote.
If Georgia is admitted to the European Schengen area, Georgian residency holders will have special privileges for visa-free travel to Europe, and also the process of obtaining Georgian residency will be more difficult for new applicants.
People who have Georgian residency can apply for permanent residence in Georgia over time and with a continuous extension, and in some cases, they can obtain a Georgian passport.
There are 7 general ways to get the Georgian residency: Getting a residence permit in Georgia by buying a property in Georgia and getting a residence permit in Georgia by investing in Georgia are the most logical ways.
Obtaining a residence permit in Georgia requires legal and professional consulting, and a mistake in choosing a route can lead to the applicant’s name being blacklisted by the Georgian government!
Different ways to get Georgian residency
- Obtaining residency by purchasing a property in Georgia
- Obtaining residency by investing in Georgia
- Obtaining residency through employment
- Obtaining residency by registering a company in Georgia
- Obtaining residency by getting married in Georgia
- Obtaining residency by studying in Georgia
- Obtaining residency through your first-degree relatives
Applicants for any type of residence in Georgia must have a certificate of official translation without a bad background and no criminal record stamped by the Ministry of Foreign Affairs.