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, though bear in mind that any work performed in Georgia is considered local, even if the clients are abroad.
• Many international schools in Tbilisi.
• 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 sole proprietorship
2. Temporary Residency through a real estate investment
3. Permanent Residency by Investment
4. Special Tax Residency Scheme for High Net Worth Individual

1. How to obtain Temporary Residency in Georgia through a sole proprietorship 

You can be eligible for this residency if you create a Sole Proprietorship in Georgia and generate GEL 50,000 of annual revenue. This is also possible with a LLC, though the sole proprietorship is more practical for most individuals.

My agent offers solutions to help you prove the business revenue requirement and easily achieve eligibility for the residency.

2. How to obtain Temporary Residency in Georgia through a real estate investment

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.  

My agent can help you with the following provided you already have a Georgian bank account and sole proprietorship or real estate purchase as a pre-requisite:

Additional government application fees must also be paid separately by the applicant.  This will be roughly GEL 750 for the fastest speed of service, or cheaper for slower processing.  The ID card is issued for GEL 150 for the fastest processing speed, or less if you can afford to wait.  

Add €500 per family member. Once the main applicant has their residency permit, other family members may then apply under family reunification. 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 service ensures you actually get the residency and it removes a lot of stress from the process.

Get in touch through the contact form below if you want to get the process started or have any questions.

3. 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.

A frequently overlooked stipulation that you should be aware of if you own a sole proprietorship and become a permanent resident of Georgia: you are expected to contribute 2% of your turnover to an individual pension account as a retirement provision each year. 

My partner agent can help you with the following services:

Add €500 per family member. This process is quite complicated as Georgia is picky. You definitely want professional help.

We can also help you obtain an audit report of your investments for an additional fee. 

Get in touch through the contact form below if you want to get the process started or have any question.

4. 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, AND can prove GEL25,000 of annual Georgia-sourced income, then you can qualify for the Special Tax Residency Regime for HNWI in Georgia.  You must also make a $500,000 USD investment in Georgia, which can be in real estate or a term deposit.  Then you must fulfill one of the below requirements:

• can prove you have at least GEL3,000,000 of assets worldwide.
• or can prove you earn at least GEL 200,000 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 about three weeks 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.

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, get in touch with my trusted agent in Tbilisi below. 

Other available services in Georgia:

• Company Formation in Georgia
• A Real Estate Lawyer in Georgia

Articles on Georgia:

• 9 reasons to get Residency in the Republic of Georgia
• The Real Estate Investment Market in Tbilisi, Georgia
• One of the Best Structures for Digital Nomads: The Sole Proprietorship in the Country of Georgia

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.