Real Estate
Residence

Georgia, a small country in the Caucasus region, has become an increasingly attractive destination for foreigners seeking to establish a foothold in the European and Asian markets. The Georgian government has introduced a temporary residence permit scheme that allows foreign citizens who buy property in the country to stay in Georgia for up to a year or longer. The real estate residence program is designed to facilitate business and investment opportunities, encourage tourism, and boost the local economy by attracting foreign capital and expertise.

The real estate market in Georgia has experienced significant growth over the past decade, with increasing demand for both residential and commercial properties. The country’s favorable tax policies, low property prices, and strategic location between Europe and Asia have made it an attractive destination for investors. The most active real estate markets are located in Tbilisi, Batumi, and Kutaisi. Additionally, the government’s policies to promote real estate residence have contributed to the growth of the market.

If you own property worth more than USD 100,000 in Georgia, you and your family can get a short-term residence permit. The property can’t be agricultural land, and its market value must be determined by an accredited assessor from the Georgian Unified National Accreditation Body. It’s important to note that the permit will be terminated if your right of ownership of the real property is terminated during the validity period (one year). In exceptional cases, the government may extend the validity of the short-term residence permit beyond the initial one-year period.

One of the main advantages of residence by buying property in Georgia is the relatively low investment threshold of USD 100,000, making it accessible to many investors. Additionally, the program allows for fast processing times, typically taking only a few weeks to obtain a residence permit. It also offers a straightforward and transparent application process, with clear guidelines and requirements. Another benefit is the low cost of living in Georgia, which can make it an attractive location for those looking for affordable living expenses.

As a law firm based in Georgia, GEO Legal can assist you in obtaining a short-term residence permit through the Real Estate Residence program in Georgia. We can guide you through the legal process and provide advice on the necessary documents and requirements needed for your application. Additionally, we can advise you on the various investment options available for the Real Estate Residence program in Georgia, helping you make an informed decision that meets your specific needs and requirements.