Georgia ~ Residence Permit for Investors
Time to Permanent Residency: 5 Years ~ Time to Citizenship: 10 Years
Georgia grants permanent residency to foreigners who invest at least USD 300,000 in certain areas of the Georgian economy, in accordance with the Georgia Law on Promotion and Guarantees of Investment Activity.
According to new regulations which came into affect on July 2, 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.
An Appraisal report will need to be prepared evidencing that the market price of the property exceeds 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.)
An evaluation report should be prepared evidencing that the amount of investment exceeds USD 300,000.
For this kind of Investment Residency there are no requirements for any kind of turnovers or additional conditions.
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.
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.
An applicant’s spouse, minor children and incapable dependents may apply for permanent residency; children over 18 years and parents may apply for a temporary residency permit.
Investment
Investment In Real Estate Or A Georgian Company
Investment of at least USD 300,000 in non-agricultural real estate or a newly-incorporated Georgian company.
Requirements
– Documents certifying USD 300,000 investment in real estate or investment in a newly-formed Georgian company.
– Criminal Record report from your local police agency.
Documents Required
Certificate of legal stay in the country- Documents certifying Business Investment
- Receipt of payment of fees
- Certified copy of passport
- Proof of ownership or rental housing
