Want to know the best, easiest, and quickest way to get permanent residence in Georgia? The simple answer is investing in Georgian real estate. In 10 to 30 days foreign citizens can acquire real estate with a market value of at least $100,000 and thus become eligible for a one-year residence permit (short term residence permit). Alternatively, the purchase of real estate valued at more than $300,000 opens up the opportunity to apply for a 5-year residence permit (long-term residence permit).
A Georgian residence permit grants you the right to unrestricted stay in the country, and also gives you the right to do business, work, study or retire.
“Foreign citizens can acquire real estate with a market value of at least $100,000 and thus become eligible for a one-year residence permit”
What other advantages does the Georgian residence permit provide?
- The application procedure is highly efficient requiring only 10 to 30 days
- There is a high approval rate when all criteria have been satisfied
- A residence permit can be applied to the whole family (applicant, spouse, and dependents)
- It is the shortest path to acquiring citizenship
- There are no taxes on foreign income
- A business-friendly environment – Georgia is listed as having one of the lowest tax rates in the world
- 0 corruption in the country among other things.
By buying real estate in Georgia you get 2 in 1: first, you enjoy all the benefits that the Georgia residency offers to foreigners, and in addition, you get an excellent investment opportunity. Due to the high demand on property in Tbilisi, the rental yield is incredibly high. On average, if a fully renovated property is in the right place and promoted correctly, it can reach Gross 13%.
“On average, if a fully renovated property is in the right place and promoted correctly, it can reach Gross 13%.”
The minimum documentation required to get a residence permit includes:
- A copy of your passport;
- A sales contract confirming the ownership of real estate in Georgia;
- A document supporting the market value of the property from a certified Accreditation Centre (of course, we help you get this document);
- 2 passport photos;
- 3 recommendations from Georgian citizens (we also help you get the recommendations).
A short-term residence permit is valid for one year and can be extended each year for another 5 years, after which a permanent residence permit can be obtained. The renewal of the residence is a simple process as well. You just have to return your expired card with two passport photos, pay minimum fees and your new electronic card will be issued in a few weeks. The long-term residence permit is initially issued for a period of 5 years, after which it becomes permanent, provided that you have maintained your investment throughout this period.
