How to obtain Residency in Georgia (country)

There are many reasons to obtain residency in the beautiful country of Georgia

 

  • An absolutely gorgeous country with mountains, beaches, vineyards, beautiful churches, a rich history and delicious food.
  • A very affordable cost of living; Georgia ranks near the bottom of the Numbeo Cost of Living Index.
  • Affordable, quality real estate.
  • Geographic location – close to Europe and the Middle East.
  • No taxes on worldwide income. Residents get taxed on Georgian-sourced income only.
  • Many international schools.
  • Very business friendly; Georgia ranks 7th in the Ease of Doing Business ranking by the World Bank.

What are the Residency by Investment options in Georgia, the country?

  1. Temporary Residency through a real estate investment
  2. Permanent Residency by Investment
  3. Special Tax Residency Scheme for High Net Worth Individual

1. How to obtain Temporary Residency in Georgia 

If you buy real estate worth $100,000 or more, you are entitled to a residency permit for you and your immediate family. Read my article on real estate in Tbilisi to find out more. Essentially, you can buy a very nice house or apartment for that price, get to live there legally, and pay no taxes on your worldwide income.  

The certified agent I’ve worked with in the past can help you with the following:

Add $250 per family member. This card is typically valid for one year, after which you must renew it. You can potentially do it yourself, but the whole process is in Georgian. Using such a services ensures you actually get the residency and it removes a lot of stress from the process.

Get in touch with me at info@thewanderinginvestor.com or through the contact form below if you want to get the process started or have any question.

2. How to obtain Permanent Residency through investment in Georgia

If you invest $300,000 or more in real estate in Georgia,  you are entitled to a 5 year investor visa. During those 5 years, you must keep the real estate, or if you sell some of it, buy other real estate of at least the same value. After 5 years you are entitled to permanent residency. Theoretically if you stay 10 more years and learn Georgian you could apply for citizenship, but they make it very complicated so I wouldn’t count on this.

My partner agent can help you with the following services:

Add $250 per family member. This process is quite complicated as Georgia is picky. You definitely want professional help. 

Get in touch with me at info@thewanderinginvestor.com or through the contact form below if you want to get the process started or have any question.

3. How to obtain the Special Tax Residency Regime for High Net Worth Individuals (HNWI) in Georgia (country)

If you either hold a temporary residence permit, an investor visa, permanent residency, OR can prove GEL25,000 of annual Georgia-sourced income, then you can qualify for the Special Tax Residency Regime for HNWI in Georgia if you also:

  • can prove you have at least GEL3,000,000 of assets worldwide.
  • or can prove you earn at least GEL200,000 in the fiscal year.

Assets include any real estate, brokerage accounts, precious metals, private funds, cash in bank accounts, etc.

If you meet the criteria, you just have to spend a few days per year in Georgia and once your special application gets approved, you will be granted a tax certificate valid for one year. You must do this on a yearly basis, unless you stay in Georgia 183 days or more that year.

The process is a bit complicated as it requires various certifications and audit reports. However, the service agent will help you from A to Z. You can save a lot of money in taxes thanks to this special tax residency regime.

Cost of the package: $1600 

Don’t be fooled by dishonest service agents

Many people can qualify for Georgian tax residency without having to invest a single dollar in the country of Georgia. How?

It’s very simple. If you stay 183 days or more in the country, even as a tourist, then you can apply for a tax certificate after having filed your taxes. Citizens of 95 countries can enter Georgia visa free. Check out the latest list on the website of Georgian migration services.

That being said, having a residency permit helps demonstrate to other countries who might want to lay claim on your income that you really do live in Georgia; It helps solidify your case.

Also, when you see what happened with the coronavirus, residents received special treatment. If you were hoping to get back “home” to Georgia without any residency you would not have been let in, as you were merely a long term tourist.

If you believe getting residency in Georgia is right for you, then send me an email to info@thewanderinginvestor.com or contact me below to be introduced to my trusted service agent in Tbilisi. 

Other available services in Georgia:

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Important to understand: The residency services are performed by a certified agent. We at The Wandering Investor are just a middleman and therefore have no liability.

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