{"id":9197,"date":"2021-11-23T20:51:22","date_gmt":"2021-11-23T20:51:22","guid":{"rendered":"https:\/\/devskey.com\/?p=9197"},"modified":"2024-10-17T11:54:55","modified_gmt":"2024-10-17T11:54:55","slug":"tax-residency-for-hnwi","status":"publish","type":"post","link":"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/","title":{"rendered":"How to get Tax Residency Remotely,  without living in that Country &#8211; For High net worth Individuals"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87_1 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents of this Post<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Residency_VS_Tax_Residency\" >Residency VS Tax Residency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#How_to_obtain_a_tax_residency_in_Georgia\" >How to obtain a tax residency in Georgia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#What_does_High-Net_worth_Individual_HNWI_mean\" >What does High-Net worth Individual (HNWI) mean?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Conditions_for_granting_tax_residency_in_Georgia\" >Conditions for granting tax residency in Georgia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#What_is_Georgian-source_income\" >What is Georgian-source income?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Why_do_you_need_Tax-Residency\" >Why do you need Tax-Residency?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#How_to_obtain_tax-residency_remotely_online\" >How to obtain tax-residency remotely ( online ) ?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Exact_steps_for_obtaining_overseas_tax_residency_online\" >Exact steps for obtaining overseas tax residency online<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Documents_to_be_submitted_for_Georgian_residency\" >Documents to be submitted for Georgian residency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Residency_by_Investment_in_Georgia_Your_Path_to_Long-Term_Residency_in_2024\" >Residency by Investment in Georgia: Your Path to Long-Term Residency in 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Application_Process\" >Application Process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Family_Reunification\" >Family Reunification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Processing_Time\" >Processing Time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Why_Invest_in_Georgia\" >Why Invest in Georgia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/devskey.com\/de\/tax-residency-for-hnwi\/#Need_help_with_obtaining_Offshore_tax_residency\" >Need help with obtaining Offshore tax residency?<\/a><\/li><\/ul><\/nav><\/div>\n\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9197\" class=\"elementor elementor-9197\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aa0f00e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"aa0f00e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-624ce41\" data-id=\"624ce41\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1655bbb elementor-widget elementor-widget-text-editor\" data-id=\"1655bbb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With increasing interest in the digital nomad lifestyle, more and more people are looking for a country where they can get their tax residency as easily as possible. In search of the tax residency, you should take into consideration how legit is the country where are you are residing in? More and more banks became aware of them, so to say, non-legit or trustworthy schemes executed through the countries that are solely made for offshoring purposes. You are considering offshore residency, think carefully. It might cause some problems with your banking options availability or overall credibility in the future. Here I am representing the possibility of claiming your tax residency in Georgia, the legit country, not an offshore jurisdiction as it is usually called. That makes Georgia even more attractive if you ask me.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ad4368 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ad4368\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0389d90\" data-id=\"0389d90\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1090a8f elementor-widget elementor-widget-text-editor\" data-id=\"1090a8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Residency_VS_Tax_Residency\"><\/span><span data-preserver-spaces=\"true\">Residency VS Tax Residency<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">First and foremost, let me clarify the difference between the residency and tax resident. Most of the people I work with are messing up these two concepts, hence I see the need for some definitions here. <a href=\"https:\/\/devskey.com\/de\/changes-in-work-residence-permit-requirements\/\">Work residency<\/a> does not necessarily mean that you will be entitled to the tax residency. Acquiring Work residency is a relatively easier procedure. We have talked about this in a few previous blogs already. In short, once you comply with some pre-requisites you have entitled the work residency. As for tax residency, it is a separate procedure and you deal with the <a href=\"https:\/\/rs.ge\/\">revenue house of Georgia,<\/a> which is the authority operating under <a href=\"https:\/\/www.mof.ge\/en\/\">the Ministry of Finance.&nbsp;<\/a><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_obtain_a_tax_residency_in_Georgia\"><\/span><span data-preserver-spaces=\"true\">How to obtain a tax residency in Georgia?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">An interesting fact is that, as long as you are eligible for legally staying in Georgia, the Georgian government does not care about your residency. That&#8217;s right. You can <a href=\"http:\/\/devskey.com\/de\/\">run a business<\/a> in Georgia without having residency. That is one reason that makes <a href=\"https:\/\/www.doingbusiness.org\/en\/rankings\">doing business<\/a> in Georgia pretty easy. However, if you have a personal urge you can go ahead and obtain any type of <a href=\"https:\/\/devskey.com\/de\/residence-permit-procedure-in-georgia-a-comprehensive-overview\/\">residency <\/a>that you are eligible for. As for tax residency, there are two ways to get Tax Residency in Georgia. In the first scenario, you have to live in Georgia for at least half a year and have a cash-generating activity here ( business or employment). Now, if you are more interested in the digital nomad lifestyle and are not necessarily looking for one place to settle, you want to travel to a different country and still have a tax residency another option for getting a Georgian Tax residency is Tax Residency for High Net worth individual. This is the scenario that we will figure out together later in this blog.&nbsp;<\/span><\/p><h2><span class=\"ez-toc-section\" id=\"What_does_High-Net_worth_Individual_HNWI_mean\"><\/span><span style=\"font-size: 25px; color: rgb(51, 51, 51);\">What does High-Net worth Individual (HNWI) mean?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Before we jump into the discussion, let&#8217;s define the term Nigh net-worth Individual and find out how does Georgian legislation defines this. According to the <a href=\"https:\/\/matsne.gov.ge\/ka\/document\/view\/1168318?publication=0\">Ordinance of the Finance Minister of Georgia,<\/a> an HNWI individual is someone with significant assets &#8211; Individuals with proven assets above GEL 3 million or an annual income of more than GEL 200,000 in the last 3 years.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conditions_for_granting_tax_residency_in_Georgia\"><\/span><span data-preserver-spaces=\"true\">Conditions for granting tax residency in Georgia<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">If you fall under the above-mentioned definition of HNWI here are some other conditions for you that you need to comply with. A person is granted residency in Georgia in the following Conditions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A) a natural person is a person provided with significant property and has a residence permit \/ ID card of a citizen of Georgia; Or<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&nbsp;B) a natural person is a person provided with significant property and certifies that he\/she receives income of GEL 25,000 or more during the tax year from a source in Georgia.<\/span><\/p>\n<p>In other words, in order to be able to be eligible for Georgian tax residency, you need to be an HNWI and you need to have Georgian residency or prove your income from Georgian source at least of 25000.<\/p>\n<p>okay, Mari, I got you, but you would be a smart person if you also tell me, how is it possible to prove my income from a Georgian source?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af60558 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af60558\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-617cd9f\" data-id=\"617cd9f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6af2954 elementor-widget elementor-widget-text-editor\" data-id=\"6af2954\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"What_is_Georgian-source_income\"><\/span><span data-preserver-spaces=\"true\">What is Georgian-source income?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">So, here is a new term on our radars &#8211; Georgian-Source of income. This list is somewhat long, let me represent some of the most relevant ones:<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A. Income from employment in Georgia;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">B. Income received from the supply of goods, work, and\/or services produced in Georgia;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">C. Income that may belong to a permanent establishment located on the territory of Georgia, including income that may be generated by the sale of the same or similar goods in Georgia, through the sale of goods through a similar permanent establishment; As well as income received from entrepreneurial activities in Georgia, which have an identical or similar character to the activities carried out through a permanent establishment;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">D. Dividends received from a resident legal entity and income received from the sale of a partner&#8217;s share in such a legal entity;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">E. Interest income received from the resident;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">L. Income from real estate in Georgia and used in entrepreneurial activities, including income from the sale of a partner&#8217;s share in such property;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">F. Income received from the sale of shares or shares of a partner whose assets are mostly directly or indirectly the value of the real estate in Georgia;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">G. Other income received from the sale of property by the resident, which is not related to the entrepreneurial activity;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">H. Income received from an enterprise or permanent establishment located on the territory of Georgia &#8211; for management, as well as for financial and insurance services (including reinsurance services) or on a contract basis with them;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">I. Other income received from activities in Georgia;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_do_you_need_Tax-Residency\"><\/span><span data-preserver-spaces=\"true\">Why do you need Tax-Residency?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Why would you even want to get tax residency? Why is this even relevant? If you ask yourself this question then this process is most likely not relevant for you. Just like we mentioned above, you don&#8217;t have to obtain it, you are not legally forced or obliged to obtain it. The tax residency is relevant for those individuals who come from the countries which tax their residents on foreign-source income. Georgia applies a territorial taxation system for example, in this case obtaining tax residency in another country is not relevant for us at all, since we are not taxed on foreign-source income tax anyways. However, what about the fact that you come from Germany for example, but do not live in Germany, without obtaining the tax residency, you still have to report your income generated outside of your Resident Country (Germany in our example) and pay some additional tax, that as we can all guess until now, nobody is happy about.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_obtain_tax-residency_remotely_online\"><\/span><span data-preserver-spaces=\"true\">How to obtain tax-residency remotely ( online ) ?&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">And now, finally, to the happiest part. After all the clarifications we get to the point &#8211; how to apply for the residency. I will also emphasize in this chapter how to apply and obtain the Georgian tax residency online, remotely, without even visiting the country.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A person who does not have a residence permit in Georgia and is interested in obtaining a residence permit in Georgia, personally, through an authorized representative or agency submits an application for obtaining a residence permit and documents established by the legislation of Georga to the &#8211; Civil Registry Agency.&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">&nbsp;If a natural person is outside the territory of Georgia, through an authorized representative or agency, or through a diplomatic mission or consular post of Georgia, he\/she shall submit an application to the Civil Registry Agency for obtaining a residence permit in duplicate and in accordance with Georgian legislation.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In other words, if you are visiting Georgia you need proof of your income from the foreign source, all translated and notarized in Georgia, and the proof of your income from Georgian source either your Georgian ID and then you can visit the Civil Registration Agency of Georgia and apply for the status there.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exact_steps_for_obtaining_overseas_tax_residency_online\"><\/span><span data-preserver-spaces=\"true\">Exact steps for obtaining overseas tax residency online<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Alternatively, you can apply for Georgian Tax-Residency remotely and online, without visiting the country and without traveling to Georgia. For that you will need to undertake certain additional actions:<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">a. Get your legal representative &#8211; that could be us, we can help you with the procedure.&nbsp;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">b. Get Power of Attorney (PoA) &#8211; That needs to be apostilled or legalized together with your passport. We can prepare the one for you, alternatively.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">C. Send the original version by post to your representative<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Your representative undertakes the above-described steps on behalf of you.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-2a5ec9f e-flex e-con-boxed e-con e-parent\" data-id=\"2a5ec9f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0226e5e e-flex e-con-boxed e-con e-parent\" data-id=\"0226e5e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c3bb58 elementor-widget elementor-widget-text-editor\" data-id=\"4c3bb58\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Documents_to_be_submitted_for_Georgian_residency\"><\/span><span data-preserver-spaces=\"true\">Documents to be submitted for Georgian residency<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2><p><span data-preserver-spaces=\"true\">We have two case scenarios here. Either way works. This was covered above but let&#8217;s make it even more clear. In order to obtain a residence permit in Georgia, a natural person must submit an application to the Revenue Service through the Agency:<\/span><\/p><p><span data-preserver-spaces=\"true\">A) ID\/residence card and documents proving that the property of a natural person exceeds 3 million GEL or his annual income for the last 3 years exceeds 200,000 GEL; Or<\/span><\/p><p><span data-preserver-spaces=\"true\">B) Documents proving that the property of a natural person exceeds GEL 3 million or its annual income for the last 3 years exceeds GEL 200,000 and documents proving that a natural person receives GEL 25,000 or more from a source in Georgia during the tax year Income.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18479a8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"18479a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c0660e2 e-flex e-con-boxed e-con e-parent\" data-id=\"c0660e2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-919d524 elementor-widget elementor-widget-video\" data-id=\"919d524\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/www.youtube.com\\\/watch?v=L0CGjlLp0f0&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bcb5624 elementor-widget elementor-widget-text-editor\" data-id=\"bcb5624\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Residency_by_Investment_in_Georgia_Your_Path_to_Long-Term_Residency_in_2024\"><\/span>Residency by Investment in Georgia: Your Path to Long-Term Residency in 2024<span class=\"ez-toc-section-end\"><\/span><\/h2><p>Are you considering a move to Georgia and exploring ways to secure long-term residency? Georgia&#8217;s investment residency program offers an excellent opportunity for investors looking to make a substantial commitment to the country. In this blog post, we\u2019ll guide you through the requirements, application process, and benefits of obtaining an investment residence permit in Georgia.<\/p><h4><strong>What is Investment Residency?<\/strong><\/h4><p>Investment residency in Georgia is a type of long-term residency that allows foreign investors to live in the country by making a significant financial investment. This differs from short-term residency permits, which are typically granted for investing in real estate. The investment residency program is designed for individuals who contribute to Georgia\u2019s economy through substantial business investments.<\/p><h4><strong>Investment Requirements<\/strong><\/h4><p>To qualify for an investment residence permit in Georgia, you must meet the following requirements:<\/p><h4><strong style=\"font-size: 20px; text-align: var(--text-align);\">Investment Amount<\/strong><span style=\"font-size: 20px; text-align: var(--text-align);\">:\u00a0<\/span><\/h4><div><p><span style=\"font-size: 20px; text-align: var(--text-align);\">You need to invest a minimum of $300,000 USD in Georgia. This investment can be in various forms, such as setting up a business or acquiring significant assets.<\/span><strong style=\"font-size: 20px; text-align: var(--text-align);\"><br \/><\/strong><\/p><h4><strong style=\"font-size: 20px; text-align: var(--text-align);\">Business Income<\/strong><\/h4><p><span style=\"font-size: 20px; text-align: var(--text-align);\">In addition to the initial investment, you must demonstrate that your business in Georgia generates a specific amount of income each year:<\/span><strong style=\"font-size: 20px; text-align: var(--text-align);\"><br \/><\/strong><\/p><ul style=\"font-size: 20px; text-align: var(--text-align);\"><li><strong>First Year<\/strong>: $50,000 USD<\/li><li><strong>Second Year<\/strong>: $100,000 USD<\/li><li><strong>Third to Fifth Year<\/strong>: $120,000 USD annually<\/li><\/ul><p>This progressive income requirement ensures that your investment contributes to the local economy over time.<\/p><h2><span class=\"ez-toc-section\" id=\"Application_Process\"><\/span><strong>Application Process<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The application process for an investment residence permit is straightforward but requires specific documentation:<\/p><ol><li><strong>Application Form<\/strong>: Complete a simple application form.<\/li><li><strong>Passport Copy<\/strong>: Provide a copy of your passport.<\/li><li><strong>Proof of Investment<\/strong>: Submit documentation proving your investment, including official valuation reports.<\/li><li><strong>Recommendation Letters<\/strong>: Obtain three recommendation letters from either Georgian government officials or a legal representative of a Georgian legal entity.<\/li><li><strong>Biometric Photo<\/strong>: Include a recent biometric photograph.<\/li><li><strong>Application Fee<\/strong>: Pay the application fee.<\/li><\/ol><h2><span class=\"ez-toc-section\" id=\"Family_Reunification\"><\/span><strong>Family Reunification<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>One of the benefits of obtaining an investment residence permit is the ability to apply for residency for your family members under family reunification provisions. This allows your immediate family to also reside in Georgia, making it easier to settle and integrate into the community.<\/p><h2><span class=\"ez-toc-section\" id=\"Processing_Time\"><\/span><strong>Processing Time<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The processing time for an investment residence permit is relatively quick. Once your application is submitted with all required documentation, the approval process typically takes around 10 working days.<\/p><h2><span class=\"ez-toc-section\" id=\"Why_Invest_in_Georgia\"><\/span><strong>Why Invest in Georgia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Georgia is known for its favorable business environment, low taxes, and strategic location at the crossroads of Europe and Asia. Investing in Georgia not only grants you residency but also opens doors to numerous business opportunities and a high quality of life in a country rich in history and culture.<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f628ce elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"4f628ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a28a08a e-flex e-con-boxed e-con e-parent\" data-id=\"a28a08a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-294be00 elementor-widget elementor-widget-text-editor\" data-id=\"294be00\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-style: normal;\"><span class=\"ez-toc-section\" id=\"Need_help_with_obtaining_Offshore_tax_residency\"><\/span><span style=\"font-size: 25px;\" data-preserver-spaces=\"true\">Need help with obtaining Offshore tax residency?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-family: 'Open Sans', sans-serif; font-size: 20px; font-style: normal; font-weight: 300;\"><span style=\"font-size: 20px;\" data-preserver-spaces=\"true\">Georgian tax residency could be even a smarter option than your offshore tax residency. Georgia is often referred to as an offshore country, but it is actually not to me. Offshore countries have a bad reputation for larger institutions, as they are mainly used for over-the-counter transactions. Georgia is not black-listed right that. It is a country with a history. It has not for sure been made for offshoring purposes. So consider getting your tax residency here.&nbsp;<\/span><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-family: 'Open Sans', sans-serif; font-size: 20px; font-style: normal; font-weight: 300;\"><span style=\"font-size: 20px;\" data-preserver-spaces=\"true\">need help with getting your tax residency?&nbsp;<span style=\"font-size: 20px; font-weight: bold;\"><a href=\"\/de\/contact-us\/\">Neem contact met ons op<\/a>! Send us your inquiry and then we will talk.&nbsp;<\/span><\/span><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-family: 'Open Sans', sans-serif; font-size: 20px; font-style: normal; font-weight: 300;\"><span style=\"font-size: 20px;\" data-preserver-spaces=\"true\">Hope it was useful,<\/span><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-family: 'Open Sans', sans-serif; font-size: 20px; font-style: normal; font-weight: 300;\"><span style=\"font-size: 20px;\" data-preserver-spaces=\"true\">Greeting from Georgia,<\/span><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; font-family: 'Open Sans', sans-serif; font-size: 20px; font-style: normal; font-weight: 300;\"><span style=\"font-size: 20px;\" data-preserver-spaces=\"true\">Mari<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>With increasing interest in the digital nomad lifestyle, more and more people are looking for a country where they can get their tax residency as easily as possible. In search of the tax residency, you should take into consideration how legit is the country where are you are residing in? More and more banks became [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ocean_front_end_style_editor":"no","ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-doing-business-in-georgia","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to get Tax Residency Remotely, without living in that Country - For High net worth Individuals<\/title>\n<meta name=\"description\" content=\"Step-by-Stel procedure for acquiring tax-residency remotely (online) in one week. 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