Georgia On Your Mind? Key Residency Rules

Georgia is an Eastern European country in the Caucasus region. It is a democratic, business-friendly country known for its stable banking sector and wine production. Georgia is especially attractive because of its territorial taxation system and low income tax rates (around 5%). 

Georgia’s residency process is straightforward, and an application is typically processed within 30 days. To start exploring Georgia, you can take advantage of the country’s year-long tourist visa. Once you decide you like it, you can apply for a residency permit. First-time applications must be made from within Georgia, but once you have a permit you can renew it remotely. 

First-time temporary residence permits are usually issued for a period of 6 months to 1 year. You may extend your permit multiple times, so long as your temporary residency does not exceed 12 years. 

In most cases, you will be able to apply for permanent residency after six years and pursue citizenship after ten. To become a citizen, you must meet certain conditions, such as knowing the language and understanding Georgian history, laws, and customs. It is also important to note that Georgia does not permit dual citizenship, so you would have to renounce your other citizenship.

Some Ways To Obtain Residency In Georgia:

You can become a temporary resident by forming a Georgian LLC and opening a corporate bank account. You must have a clean criminal record, register at the Public Service Hall, and prove that your company has a minimum annual turnover of GEL 50,000 (around USD 20,000) per foreign employee. 

Essentially, you will form the LLC and then hire yourself. You must have a 6-month (or longer) employment contract and receive a monthly salary of at least 5 times Georgian subsistence income (approximately GEL 1,300). 

Forming a Georgian LLC is quite simple. For most types of businesses, no start-up capital is required. You can have 1 to 50 members/shareholders (none of whom need to be Georgian). Once the company is registered, you will not need to renew the registration. 

You can obtain a 1-year temporary residence permit by buying real estate worth at least $100,000. 

You can purchase a single immovable property (anything except agricultural land) or a portfolio of properties with a total value exceeding $100,000. The property must be appraised by a certified assessor to determine its market value. 

Please note, if you sell the property during the one-year period, you will void your temporary residence permit. 

If you continue to own the property, you can extend your residency permit. Be sure to apply for renewal at least 40 days before your current permit expires. You will not be required to re-evaluate the property.

It is possible to get a 5-year residency permit if you invest over $300,000 in a Georgian business or Georgian real estate.

If you go the business route, you will need to provide data on your business activities. The first year after obtaining your residence permit, you will need to show a turnover of at least  $50,000. The second year, you will need to show a turnover of at least $100,000. For years 3-5, you will need to show a turnover of at least $120,000. 

If you go the real estate route, you will need to confirm ownership of the property valued at $300,000 or more every year.

Georgia is an incredible country, and it may be the right residency option for you. We have provided a brief introduction, but if you want more details, please visit Georgia’s official government website the State Commission on Migration Issues.

If you are interested in other residency programs, please read our articles Should You Become A Resident Of Latvia?, Lithuanian Residency In A Nutshell, and Is Residency In Ecuador Right For You?