Doing business in Georgia
According to the World Bank, this year Georgia ranks 7th in the world for Ease of Doing Business. Corruption levels in Georgia are almost 0, placing Georgia on top of all Eastern European and Central Asian countries according to the Corruption Perceptions Index reported by Transparency International. Bureaucracy amounts to 0, and a company can be registered in one business day. Georgia does not impose foreign ownership restrictions, and property tax is also minimal.
Cheaper properties with higher returns
Tbilisi is the country’s most touristy city. Tbilisi real estate is cheap: the price of a square meter is approximately USD 900 in the heart of Tbilisi. The country’s second largest city, Batumi is cheaper, with prices averaging USD 700. From year to year the prices are increasing, so it is worth investing in now. For example, for USD 40,000, it is feasible to buy and renovate a one-bedroom apartment in Tbilisi.
“According to the World Bank, this year Georgia ranks 7th in the world for Ease of Doing Business”
Increasing tourism numbers
Georgia is in the Top Ten of the fastest growing tourism destinations in the world. In 2019, the number of tourists visiting Georgia exceeded 5 million, representing an annual growth rate of 6.8%. During the next 5 years the number of tourists coming to Georgia is expected to increase substantially by 8-10% as the number of direct flights are increased and tourism infrastructure and products developed.
High rental yields and property appreciation potential
Due to the high demand on real estate in Tbilisi the rental yield is incredibly high. On average, if the fully renovated property is in the right place and promoted correctly, it can reach Gross 13%.
Georgia’s high-quality construction market offers great potential to develop hotel and leisure, residential, and office spaces with new technologies following European quality standards. Georgia’s property market remains promising and investor appetite trends are growing: there is a high potential of Tbilisi property appreciation.
No Barriers to Foreign Buyers
Foreigners can buy property in Tbilisi without any barriers, in the same way Georgian buyers do. The property registration process is super quick and transparent. A property can be registered in a foreigner national’s name, and the ownership certificate is public on the public web-page.
“Georgia is in the Top Ten of the fastest growing tourism destinations in the world”
Liberal Visa Regime
Georgia has one of the world’s most liberal visa regimes, allowing citizens of up to 100 countries to enter, reside, work, and study in Georgia for a year without the necessity to obtain either visa or residence permit.
Lack of Competition and high occupancy rates
Tbilisi real estate market prices are going up, characterized by strong demand and limited supply. Also, there is a lack of furnished properties specifically designed to match the taste of high-spending international visitors. Increasing tourist numbers lead to higher occupancy rate – especially from May to late November.
Low cost of living
With the competitive cost of labor and energy, the cost of living in Tbilisi is the lowest in Europe. With affordable prices on healthcare, education, leisure and food, the market is well-equipped for the digital age.
Great Location and Logistics
Georgia is referred to as an entry gate between Europe and Asia, making logistics as convenient and fast as possible from every destination. With three international airports and numerous international flights and a modern railway and transportation system, Georgia is an easily accessible destination for business and touristic purposes.
“Georgia has one of the world’s most liberal visa regimes, allowing citizens of up to 100 countries to enter, reside, work, and study in Georgia for a year without the necessity to obtain either visa or residence permit”
Simple and low taxation
Georgia is listed at number 9 among low tax rate economies according to the WEF Global Competitiveness report offering the lowest property taxes in the region (up to 1%). The cost of registering a property in Georgia is just USD 80, and there are no other related costs.
Safe, free, progressive, democratic country
In the newest safety ranking of Numbeo’s 2019 Crime Index, Georgia ranks 6th as the safest country in the world. Georgia is a democratic and politically stable investment destination with an efficient, pro-business and corruption-free government.
Permanent Residence Opportunity
Investing in Georgian real estate allows foreigners to obtain Georgian residency. With a simple procedure lasting from 10 to 30 days foreign citizens can acquire real estate with a market value of at least $100,000 to be eligible for a one-year residence permit (short term residence permit) and receiving all of the same benefits as native Georgians.
Want to hear more advantages?
- Almost 80% of Tbilisi inhabitants speak English.
- Georgia is a country with amazing nature and both mountain and sea resorts.
- Georgian culture is unique and can boast one of the richest cultures and lively traditions in the world.
