LOCATION: Located in Caucasus (region between Black Sea and Caspian Sea) of Eurasia, East of Turkey
LANGUAGES SPOKEN: Georgian, English
CURRENCY: Georgian Lari (GEL)
NEAREST AIRPORT: Tbilisi International Airport
MAJOR INDUSTRIES: Tourism, Food Processing, Agribusiness, Technology
Georgia is a modern, politically stable and a fast growing country with rich history and traditions, beautiful nature, excellent cuisine, low taxes, low crime rate, low corruption and low cost of living. Georgia is an Eurasian country connecting eastern Europe and western Asia. It has a strategic location and is a primary spot for investors who want to access both the European and Asian markets.
Georgia offers visas, residence permits and tax residency status to investors and their family members with a path to citizenship. Residence permit is one of main grounds for a foreigner for his/her entry into Georgia and legal stay. Based upon the appropriate grounds, residence permit shall be issued to a foreigner with the right of temporary or permanent residence.
GEORGIA RESIDENCE BY INVESTMENT PROGRAMS
According to new regulations which came into affect In July 2019, there are 2 different options for obtaining an Investment Residence Permit (Permanent Residence permit) of Georgia:
1. By making a personal investment in real estate; buying non-agricultural real estate (land, apartment, commercial area etc.) in Georgia which costs more than USD 300,000. The Investment Residence Permit will initially be issued for 5 years. If after 5 years, the applicant does not sell the real estate property, they will be granted with a Permanent Residence Permit of Georgia.
2. Obtaining Investment residency by making investment through Georgian Company. Applicants will need to incorporate a company in Georgia and make an investment of USD 300,000 in his/her company (buy real estate, issue loans, money in the company’s term deposit account, etc.)
Following the incorporation and investment, the Investment Residence Permit will be issued for 5 years. After the applicant has been granted with the investment residence permit, it is obligatory that company’s annual turnover must exceed certain minimum limits:
USD 50,000 for the first year
USD 100,000 for the second year
USD 120,000 for the third, fourth and fifth years.
If the applicant is able to meet this criteria, they will receive a Permanent Residence Permit after 5 years.
Provide documents certifying USD 300,000 investment in real estate or investment in a newly formed Georgian company.
No Criminal record.
Visa-free travel to 116 countries and territories, including EU (Schengen) countries, most of CIS countries, Iran and Turkey.
Right to unrestricted stay in the country.
Include a spouse, underage dependent and/or fully dependent incapacitated person.
The cost of living in Georgia is very low compared to other European countries.
EU membership is a possibility ahead for Georgia and permanent residence here, with the option of citizenship, opens up prospective EU citizenship for investors.
Minimum investment requirement is significantly lower than golden visa programs of EU member nations.
The country has a liberal tax regime for residents with non-residents being totally exempt from tax on foreign income.
Georgian citizenship shall be granted to the applicant if they meet the following requirements:
Lawfully resided in Georgia for the last 10 consecutive years up to the day of applying for Georgian citizenship
Knows the official language of Georgia within the established limits
Knows the history of Georgia and basic principles of law within the established limits
Have a job and/or real estate in Georgia, or carry on business in the territory of Georgia or hold an interest or shares in a Georgian enterprise or married a Georgian citizen.
The decision on granting Georgian citizenship by naturalization is made within 3 months.