How to get Georgian residency through the purchase of property

‎                                                                                                                                                                                                                                Tbilisi, Georgia

A few years ago, the Georgian government introduced a residency protocol for real estate investors, allowing international buyers to gain residency by purchasing property in Georgia.

Foreign nationals who invest at least $100,000 USD in property, whether through a single purchase or cumulatively, are eligible for a one-year residency permit. Additionally, investors have the option of purchasing properties under renovation—referred to as white, black, or green framed—for less than $100,000 USD. Upon completion of the renovations, the total value may meet or exceed the minimum investment threshold.

Upon securing a residency permit, investors must obtain a residence card. This government-issued ID confirms the holder’s identity, citizenship, and residency status in Georgia. The permit also extends to the investor’s spouse and dependents, who can apply by submitting a marriage certificate and family record.

Once the initial residency period concludes, property owners have the opportunity to renew their residency. The renewal process involves returning the expired card along with other necessary documents to the authorities and waiting a few weeks for a new card to be issued.

Investors can opt to extend their residency for an additional ten years, after which they may qualify for permanent residency by investing $300,000. Importantly, once permanent residency is granted, it is not necessary to renew the temporary residency annually.

Benefits of Residency in Georgia

Georgia’s territorial tax system means that residents are taxed only on income earned within the country, offering a significant advantage to those living and working there. Unlike many other countries, Georgia does not tax its residents on capital gains earned abroad. This policy simplifies tax obligations for residents, as they are required to pay taxes only on income generated within Georgia. There are no additional Georgian taxes on worldwide income or assets, making it an attractive destination for international investors and expats seeking favorable tax conditions.

The country’s low cost of living is another significant benefit. According to the Numbeo Cost of Living Index, Georgia ranks among the top 10 most affordable countries for living and working.

Furthermore, Georgia is recognized for its business-friendly environment, ranking 7th in the World Bank’s Ease of Doing Business index. The process for establishing a company can be completed in as little as 24 hours. Coupled with low levels of perceived corruption and favorable tax rates, Georgia presents an attractive option for foreign investors.