Georgia ~ Residence Permit for Entrepreneurs
Time to Permanent Residency: 6 Years ~ Time to Citizenship: 10 Years
Georgia grants temporary residency to applicants who either register a company in Georgia, or hold a minimum six-month employment contract for a Georgian company.
According to new regulations that came into force on July 5th, 2019, it is now obligatory that companies registered by foreigners need to have a minimum annual turnover of GEL 50,000 (around USD 20,000) if they are to be eligible for temporary residency.
Applicants employed in Georgian companies are also eligible to apply for temporary residence, provided that certain requirements are met.
The Temporary residence permit of Georgia is issued for periods of 6 months up to 6 years. Usually, the first issue is for a period of 6 months or 1 year.
After the applicant receives their Georgian Residence Card, his/her spouse and children are also eligible for a TRP.
Applicants that are interested in establishing a company in Georgia do not necessarily need to visit the country to do so; using power of attorney, our service partners in Georgia will be able to handle all the paperwork and bureaucratic processes, and also make the necessary submission for applying for temporary residency.
After 10 years of continuous, legal residency in Georgia, foreigners may be eligible to apply for Georgian citizenship, if they meet certain conditions, such as knowing the local language, history and customs, and/or have married a Georgian citizen, or are engaged in economic activities considered important to the Georgian state and economy.
Investment
Startup Or Employment
Registration of a company in Georgia with a demonstrated annual turnover of at least GEL 50,000 (USD 20,000), or employment in a Georgian company.
Requirements
– For most types of business, no start-up capital is required for incorporating a Limited Liability Company in Georgia.
– Registration is only carried out once, and there is no need for registration renewal annually.
– The amount of shareholders can be from 1 to 50 persons and there are no requirements regarding having local partners. An LLC can be totally owned and managed by foreign citizens.
– Foreign employees should be registered in a company with a minimum annual turnover of GEL 50,000 per each foreigner employed. They should also have a contract valid for at least 6 months and receive a minimum GEL 1,000 per month salary.
– Clean Criminal Record
Required Steps after Company Registration:
– The applicant should have minimum turnover in his/her Georgian company of minimum 50,000 GEL (20,000 USD);
– The applicant must open his/her personal bank account in Georgia and put minimum 5000 USD on his/her personal bank account and obtain an account statement. This money can be withdrawn after the residency application has been submitted.
– We will prepare all necessary documents and submit the residency application together with the applicant;
– After the applicant fulfills the obligation of demonstrating a minimum GEL 50,000 turnover in his/her company, we can submit the residency application and the whole process (submitting application, getting approval on residency and collection of TR Card) takes roughly 45 calendar days. During this period, the applicant can leave Georgia after submitting the application and return after receiving approval on residency.
Documents Required
Certificate of legal stay in the country- Documents certifying Business Investment
- Receipt of payment of fees
- Certified copy of passport
- Business Incorporation / Employment Contract
- Documents certifying position and salary
- Proof of ownership or rental housing
