From July the 1st, aliens seeking to Obtain Work Residence Permit in Georgia based on their Business Activities will face do meet bit changed requirements. In order to apply for this kind of TR you will additionally need to meet below requirements:
How investor can get work permit in Georgia
According, individuals who have started their business activities here in Georgia . after six years can apply for residence permit, even permanent residence permit here.
Documents which are required for obtaining your work permit
- In order to carry out entrepreneurial or labor activities in Georgia. here, a foreigner must submit to the Agency in order to obtain a work residence permit:
- first, an application in the prescribed form;
- second, a copy of the foreign travel document;
- third, a copy of a document certifying legal stay in Georgia (immigrant visa D1 / D2);
- next, a document certifying employment and entrepreneurial activity (employment contract or other document certifying employment). If the above-mentioned documents do not prove the legal income of a foreigner. then, the amount on the foreigner’s personal bank account may be under consideration as income. the amount of which, taking into account the duration of the work permit, shall not be less than twice the monthly subsistence level of the average consumer in Georgia.
- also, photograph, size 3/4;
- and, Receipt confirming the payment of the service fee.
2.In order to obtain a residence permit in Georgia, a person of free profession must submit to the Agency:
- first, an application in the prescribed form;
- second, a copy of the foreign travel document;
- third, a copy of the document certifying legal stay in Georgia (immigration visa D1 / D2);
- next, Certificate of professional activity
- after that, a certificate from the bank, which reflects the amount on their personal account. hence, which should not be less than twice the subsistence level of the average consumer defined in Georgia;
- next, Recommendation of a citizen of Georgia or a foreigner with the right of residence in Georgia on the issuance of a work residence permit. Surely, by a foreigner for the purpose of carrying out activities in Georgia in favor of individuals or public interests.
- also, Photograph, size 3/4;
- and, Receipt confirming the payment of the service fee.
Changes in Minimum Revenue Requirement for Work Residence Permit in Georgia
Prove that your company monthly Revenue is at least 5 times more than Georgian Subsistence Minimum for working age Okay now, do not feel overwhelmed. Let’s take a look at that very minimum. As per national statistics office of Georgia, Subsistence Minimum for May 2019 was 190 GEL. Accordingly, your monthly revenue shall be at least 950 GEL. Well, this make thing little bit more complicated, but still, there is no need to freak out. 950 GEL, in my opinion, is not an unbearable requirement.
Changes in Minimum Turnover Requirement for Work Residence Permit Applicants
According to recent amendments, annual turnover of a company should exceed 50 000 GEL in order to be eligible for Temporary Residence Permit in Georgia for work purposes. In accounting world, turnover is defined as the annual net sales volume. Turnover differs from profit. Turnover and profit are beginning and ending points of income statement. Profit is turnover reduced by all kind of operational expenses.
Changes in Temporary Residence Permit on a basis of Real Estate
Alien owning Real Estate Property with Market Value not less than 100 000 USD equivalent to GEL can claim Temporary Residence in Georgia.
SUMMERY on work permit
- the minimum amount of money requesting for work permit in Georgia – $1, 700 usd
- RP owners can apply for RP term extension
- after 6 years work RP owners can apply for permanent RP
- The amendments remove possibility for freelance professional to get Georgian residence permit and establish additional requirements for Georgian work residence permit seeker who shall present the following documents: (1) document confirming labor or entrepreneurial activities in Georgia; (2) document confirming that monthly salary/income of an alien amounts to at least quintuple amount of minimum wage established in Georgia; (3) document confirming that annual turnover of a company employing foreigner or established by foreigner amounts to at least GEL 50,000 per each permit seeker. Lower annual turnover in the amount of GEL 35,000 is established for educational and medical entities.
- According to recent amendments, annual turnover of a company should exceed 50 000 GEL
Update: Checklist for acquiring Georgian Temporary Residence Permit in 2021
- Apply at least 40 calendar days before the expiration of your legal stay (does not mean legal stay if he/she is in Georgia on the basis of c category visa, other country visa/residence permit, or postponement of legal stay in Georgia)
- Application in the prescribed form, which is filled in on the spot or can be filled in advance.
- Foreign travel document (if the name from the Latin version is read unambiguously as it is written, translation is not necessary);
- A photograph that can be taken on the spot;
- Document certifying work or entrepreneurial activity (employment contract or other document certifying employment. In case of entrepreneurial activity, an extract from the entrepreneurial register);
- Monthly income statement (income can be confirmed by a salary statement from the service, or by a bank statement on a personal bank account balance). Income needs to be five times the subsistence level in Georgia, which at this stage is about 842 GEL per month. And in case of a certificate submitted by the bank, the balance on the personal bank account should be 10105 GEL at this stage;
- It is also necessary to submit a certificate from the Revenue Service stating that the annual turnover of the employer company / established enterprise exceeds GEL 50,000 per employee employed, and if the company is engaged in educational or medical activities, the annual turnover needs to exceed GEL 35,000;
- It is also necessary to submit a certificate issued by the company on the number of foreign nationals employed.
How to Obtain a Residence Permit by Doing Business in Georgia:
For foreign entrepreneurs looking to establish themselves in Georgia, obtaining a residence permit by doing business in the country is a straightforward process with many benefits. We will tell about reasons for pursuing a Georgian business residency, the requirements, and the steps you need to take to successfully apply.
Why Obtain Business Residency in Georgia?
Georgia is becoming a popular destination for entrepreneurs and digital nomads, particularly from countries like Germany. While citizens from many countries can live and conduct business in Georgia without a work permit, obtaining a business residence permit offers significant advantages.
One of the key benefits is the ability to show residency in Georgia for tax purposes. Many entrepreneurs seek residency in Georgia to take advantage of the country’s favorable tax policies, allowing them to reduce their tax burden in their home countries and enjoy the perks of a tax-friendly environment.
Types of Residence Permits in Georgia
There are three main categories of residence permits available for foreigners in Georgia:
- Real Estate Investment Residency: For individuals who invest in real estate.
- Work Residency: For those employed in Georgia.
- Business Residency: For entrepreneurs who conduct business in the country.
Business residence permit allows entrepreneurs to reside in Georgia while managing their businesses.
Requirements for Business Residency in Georgia
To qualify for a business residence permit, there are specific requirements you must meet:
Company Incorporation: You must establish a registered business in Georgia. This step is essential and can be done relatively easily with the help of professional services.
Turnover Requirement: The business must generate a minimum turnover of 50,000 Georgian Lari (approximately $18,000 USD) annually.
- You can prove your turnover through accounting records and tax payments to the Georgian government, which must be in compliance with local tax regulations. This is where proper accounting and taxation services come into play, ensuring your business remains compliant.
Bank Account: You will need a Georgian bank account with a minimum deposit of 50,000 Georgian Lari.
Other Documentation:
- A completed application form that you can submit at the Public Service Hall in Georgia.
- A recent biometric photo, which can be taken at the service hall.
- A passport copy. Previously, passports needed to be translated and notarized, but as long as your passport is in Latin characters, this is no longer necessary.
- A bank statement showing proof of your financial standing.
Application Process and Fees
The business residency application process in Georgia is relatively simple:
Submit Application: Fill out the application form at the Public Service Hall. Be sure to include all necessary documents, such as your biometric photo, passport, bank statement, and income proof.
Processing Time:
- The standard processing time is 30 working days. For this, the application fee is 200 Georgian Lari.
- If you need faster processing, you can choose an expedited service that will give you an answer within 10 working days. The expedited service costs around 400 Georgian Lari.
Application Fee: Fees fluctuate slightly due to inflation, but as of now, the regular fee is 300 Georgian Lari for a business residency permit.
Residence Permit Duration: A Georgian business residency permit can be granted for up to 6 years, depending on your application.
Additional Services for Entrepreneurs in Georgia
In addition to helping you obtain a business residency permit, we offer a range of services designed to help foreign entrepreneurs establish and grow their businesses in Georgia, including:
- Company establishment and incorporation.
- Accounting and taxation services to ensure you comply with Georgian regulations.
- Assistance with real estate investments for those seeking residency through property purchases.
- Expat relocation services, including help with renting properties and settling into life in Georgia.
Why Choose Georgia for Business?
Georgia’s strategic location, favorable tax system, and business-friendly environment make it an excellent choice for entrepreneurs and investors. Whether you’re a digital nomad or a business owner looking to expand your operations, the business residency program in Georgia offers an affordable and efficient pathway to residency in a growing economy.
Contact Us for Assistance with Business Residency in Georgia
If you’re interested in applying for a business residency permit or need help establishing a business in Georgia, contact us today. With over seven years of experience helping foreign entrepreneurs and investors, we provide tailored services to meet your unique needs.
Useful Links
Be aware that resent changes also apply on other two types of residence permits: Investment Residence and Permanent Residence Permits. Check out Changes in Investment Residence Permit here. Complete Extract of the law.
FAQs:
What are the most common residence permits in Georgia?
The most widely used and most common TR for foreigners are work permits and investment residence permits. Work Permit is based on your entrepreneurial activities or employment. Either you have to be employed in Georgia and based on employment apply for a temporary residence permit or conduct business activity. Registering a business does not automatically grant you the right to claim residency. You have to meet some requirements. Such as a minimum turnover of 50 000 Gel for example. Work residence permits are given for a period of 1 or 2 years, depending on your scenario.
The investment residence permit is given to those who purchase properties in Georgia at least 100 000 USD value. It’s a simple procedure to claim 5 years of residency straight away with real estate investment. After 5 years you are eligible to claim your citizenship in both scenarios.
Is an application for a residence permit without establishing a company possible as well? For example, if I wanna work as a freelancer?
For acquiring a residence permit, you need to be either employed by a Georgian company or running your own business. If you have a small business you should consider establishing individual entrepreneurship and applying for the small business status. Being a freelancer without incorporating company in Georgia does not make you eligible for temporary residence permit (TR)
Expats.