Easy Way To Obtain Residency In Georgia

Georgia is a fascinating country to live in, especially for outdoor enthusiasts. Tbilisi, the country’s capital, is also an attractive place to live, with an abundance of cathedrals, churches, fortresses, and museums. Georgia’s temperature is also relatively moderate, although the winters can be cold. The temperature usually stays in the range of -2°C (28°F) to 31°C (88°F) throughout the year.

Obtaining residency in Georgia can be a relatively easy process if you have the necessary information and follow the right steps. The first step is to gather all the required documentation and familiarize yourself with the specific requirements for your situation. The official website of the Georgian government provides detailed information on the documents needed, which typically include a completed application form, proof of payment for applicable fees, and supporting documents such as a valid passport.

Overview of Georgia

The government appeared very open to receiving more tourists investors. During Covid-19, the government launched a Remotely from Georgia Program, which allowed people to live in Georgia for one year after completing an application process. Once other countries began opening up again, this program was phased out, and people were free to live in Georgia for one year without applying for a visa. 

Georgia stands out in the region because of its relatively low cost of living. As of the writing of this article, the average salary in Georgia was ₾1,446.5 ( around $508 USD). It is very easy to find apartments on Airbnb for under $400 USD and private rooms or hostels for less than $300 USD/month.

Obtaining residency in Georgia can be a relatively easy process

Citizens from around 95 countries can live in Georgia for up to a year without applying for a visa. It is also well worth exploring residency options in Georgia, which one can acquire by investments in Georgia. The only potential downside is that obtaining Georgian citizenship is lengthy and not as straightforward as other Citizenship By Investment programs. However, investing to gain residency is still a reasonable option.

All of these factors have made Georgia popular among digital nomads. While digital nomads need to apply for a 1-year visa for programs such as Portugal and Croatia, most people can freely stay in Georgia for up to 1 year. Digital nomads can also use Georgia as a hub and make short trips to other nearby destinations where they can generally stay for up to 90 days.

Residency Options 

Georgia is an excellent destination for those who want to establish themselves in another country as permanent resident. People willing to invest in real estate can acquire residency in Georgia. Although Georgia’s current tourist visa regulations are attractive, it is still ideal to look into residency options in case something changes.

Investor Visa

At the moment, investors need to invest a minimum of $300,000 USD to gain permanent residency in Georgia. This process allows someone to receive an investor visa while they apply for permanent residency. This option is attractive, although one would likely have to buy multiple apartments and rent them out. 

Under the new regulations of July 2, 2019, there are two different options for obtaining an Investment Residence Permit (Permanent Residence permit) in Georgia: 

1. Personal investment in real estate; obtaining non-agricultural real estate (land, apartment, commercial area etc.) in Georgia, valued above $300,000 USD. 

• An Appraisal Report is needed; this is proof that the property's market price exceeds $300,000 USD. 

• The Investment Residence Permit will be valid for five years initially. If, after five years, the applicant has not sold the real estate, they will be granted a Permanent Residence Permit of Georgia. 
  
  

2. Obtaining Investment Residency Visa by investing in a Georgian Company. 

• Applicants will need to incorporate a company in Georgia and invest $300,000 USD in his/her Company (buy real estate, issue loans, money in the company’s term deposit account, etc.) 

• An Appraisal Report is needed; this is proof that the investment exceeds $300,000 USD. 

• For this kind of Investment Residency Visa, there are no requirements for any type of turnover or additional conditions. 

After the incorporation and investment, Residency Permit will be issued and valid for five years. After the applicant has been granted the investment residence permit, the company’s annual turnover must exceed certain minimum limits: 

• $50,000 USD for the first year;
• $100,000 USD for the second year;
• $120,000 USD for the third, fourth and fifth years. 

If the applicant can meet these criteria, they will receive a Permanent Residence Permit after five years. 

After ten years of continuous legal residency in Georgia, foreigners may be eligible to apply for Georgian citizenship if they meet certain conditions, like knowing the local language, history and customs, and/or have married a Georgian citizen, or are engaged in economic activities considered essential to the Georgian state and economy. 

An applicant's spouse, minor children and incapable dependents may apply for permanent residency; children over 18 y.o. and parents may apply for a temporary residency permit.

It is essential to ensure that you have completed the application form accurately and attached all the required supporting documents

residency

However, the minimum investment required for temporary residency is only around $100,000 USD, and this investment can include real estate. It is easy to find an apartment in Tbilisi for less than $35,000 USD. Investing in real estate is one of the easiest ways to gain residency. Since the real estate market in Georgia is cheap, even by a frontier or emerging market standards, one could buy a higher-end apartment in central Tbilisi for this amount. There is also a chance that the investment amount could change in the future. The original amount was only $35,000 USD, but it increased to $100,000 USD in 2019.

Once you have all the necessary information and documents, you can submit your application to the relevant government office or embassy. It is essential to ensure that you have completed the application form accurately and attached all the required supporting documents. In case you encounter any difficulties or have questions, the office or embassy will be able to provide you with support and guidance throughout the application process.

One of the key requirements for obtaining residency in Georgia is opening a local bank account. This step is necessary for demonstrating financial stability and ensuring that you can support yourself during your stay. You will need to provide proof of your bank account when applying for residency.

The duration and details of the process may vary depending on your basis for residency. Georgia offers different classes of residency, including work permits, family reunification, and investment-based residency. If you are moving with your family, additional documents may be required to prove your family member's relationship to you.

Once your application is approved, you will receive your residency status, which grants you the right to reside in Georgia legally. As a resident, you can enjoy various benefits and rights, such as access to healthcare and education services. It is important to be aware of your rights and obligations as a resident, and to adhere to the laws and regulations of the country.

Related content: The Basics Of How To Get A Second Passport Or A Second Residency.

Becoming a Citizen?

Making the decision to move to Georgia and obtain residency can be a life-changing experience. You may need to consider various factors, such as finding a suitable house or accommodation, adapting to a new cultural environment, and potentially learning the local language. It is advisable to research and plan your move carefully, taking into account your specific situation and preferences.

Gaining Georgian citizenship is very complex, and one shouldn’t count on gaining Georgian citizenship through investment or residency. Some of the requirements listed include the following: 

• Living in Georgia for ten consecutive years
• Knowing the official language of Georgia
• Knowing the history of Georgia
• Having a job or real estate in Georgia or carrying out business in Georgia

Even though some people may register a business in Georgia or buy real estate, gaining citizenship can be very difficult. 

Benefits of Residency

Even though Georgia offers a 1-year tourist visa to citizens of 95 countries, it is still ideal for digital nomads to consider an option that helps them gain residency.

Once your application is approved, you will receive your residency status, which grants you the right to reside in Georgia legally

Tourist Visa Limitations

During Covid 19, digital nomads from the previously mentioned countries were not allowed to enter Georgia unless they applied for the Remotely from Georgia Program. The application process was similar to other countries programs, such as Croatia, and required proof of income, health insurance, and other documents. If the Georgian government changes its visa regulations and shortens the period to 30 or 90 days, it may be difficult for digital nomads who have established themselves on tourist visa. It is best to figure out a way to gain residency unless you only plan to spend several months in the country.

Real Estate Is Cheap

One could buy multiple apartments in Tbilisi for $100,000. Finding that type of value in other parts of the world is complex. Real estate prices in various frontier and emerging markets, particularly in Southeast Asia, have been increasing, but real estate in Georgia remains attractively priced. 

Apartments in Georgia are an excellent investment, as there is a relatively high expat/digital nomad community in Georgia that could rent some of these apartments.

Making the decision to move to Georgia and obtain residency can be a life-changing experience

Business Or Employment

Some digital nomads are concerned about avoiding taxes when they spend more than 180 days in the country. Luckily, Georgia is generous to entrepreneurs who set up a company in Georgia. Micro businesses, defined by 300,000 GEL or less in revenue, only have to pay a 1% tax on revenue. The Georgian government allows smaller companies to pay a much lower tax rate. 

There are also job opportunities for expats in Georgia, especially if one is interested in teaching English. This option can be an attractive way to secure a long-term visa in Georgia. 

Takeaway

Georgia should be one of the top options for a newer digital nomad to consider due to the low cost of living and ease of acquiring a visa for one year. However, Georgia is also a hidden gem for investors who want to gain residency. Investing in real estate could be an attractive investment option that allows one to stay in Georgia long-term. Finally, Georgia is also an excellent place to live if you want to set up your own business, as the tax laws are very friendly for smaller entrepreneurs.

In conclusion, obtaining residency in Georgia can be a relatively easy process if you gather the necessary information, follow the required steps, and provide the correct documentation. With the support and guidance available from government offices and embassies, you can navigate the process smoothly. Whether you are moving alone or with your family, Georgia offers a welcoming environment for residents, and with proper preparation and understanding, you can make a successful transition to your new home.