I have posted several blogs on residence permit procedure so far, however, I am being asked still quite a few questions. Especially about Temporary or Permanent residence permit possibilities based on Real Estate Investment. This topic became actual due to recent amendments in the immigration law, maybe. So, I felt like piece information was missing for all my dear readers and here I decided to fill It.
What are the types of Residence Permits in Georgia?
Georgia issues different types of residence permits. Not all of them is applicable for my fellow readers, but here I am stating:
- Work Permit – For those having a business or being employed ( freelancing too)
- Study Permit – I think basis of this permit is pretty obvious.
- Residence Permit for Family Reunification
- Residence Permit for Former Citizen of Georgia
- Residence Permit for Stateless Person
- Special Residence Permit – For those, who have been victim of human trafficking.
- Temporary Residence Permit – for victims of Domestic Violance
- Residence Permit for Indefinite Stay – Real Estate Investment at least 300 000 USD equivalent to Georgian Lari.
- Short Term Residence Permit – Issues for those individuals and his/her family members, who have got, immovable propery valued at least 100 000 USD equivalent to Georgian Lari.
More Detailed information on the residence permits in Georgia can be found on my other blogs.
Types of Residence Permit on a basis of Real Estate Investment
Short Term Residence Permit
Indefinite Residence Permit
100 000 USD
300 000 USD
Probably some of you remember, threshold has been lower few years, maybes months back. However, due to recent amendments, this is what we got. Georgia gives two threshold for residence permit seekers. Depending on your investment size you can claim either temporary residence permit or permanents residence permit. Indefinite Residence Permit is Granted to the individual to the foreigner (and his/her family members) who holds an investment residence permit issued on the basis of owning an USD 300.000 (equivalent in GEL) worth immovable property and has had an ownership right on this property for 5 years since receiving an investment residence permit. Family members of the foreigner are: a spouse, minor child and a care-receiver or legally incompetent person who is fully dependent on the foreigner, or a disabled person (also fully dependent on the foreigner) who has been recognized as a disabled by the legislation of respective country.
How to Obtain an Investment Residence Permit in Georgia Through Real Estate
If you’re looking to gain residency in Georgia, one of the most straightforward ways is through investing in real estate. The process for Investment Residence Permit in Georgia, includes the required investment, documents, application steps, and timelines.
What is an Investment Residence Permit in Georgia?
An Investment Residence Permit is available to individuals who invest in Georgian real estate. Benefit of this program is that it allows investors to gain a short-term residence permit for up to five years. After maintaining residency for five years, you may also become eligible to apply for Georgian citizenship.
Real Estate Investment Requirement
To qualify for a residence permit, your real estate investment must meet the following criteria:
- Minimum Investment: You must invest in property that is appraised at a minimum of $100,000 USD.
- It’s important to note that you do not need to spend the full $100,000; as long as the property is officially appraised at this value, you are eligible.
Documents Required for the Application
The application process for the Investment Residence Permit is relatively simple and involves the following documents:
- Passport: A copy of your passport is required to verify your identity.
- Application Form: A straightforward form that includes basic personal information, which can be completed at the Public Service Hall in Georgia.
- Appraisal Document: You must provide an official document from a certified appraiser proving that your real estate investment is valued at $100,000 USD or more.
- Proof of Ownership: You will need to submit proof that you own the real estate property.
- Biometric Photo: A recent biometric photo, which can be taken at the Public Service Hall.
- Service Fee: A government service fee, based on the processing speed you choose.
Processing Time and Service Fees
The processing time for the investment residence permit varies depending on how fast you need the application processed. Here are the different options:
- 30 working days: 300 GEL fee
- 20 working days: 450 GEL fee
- 10 working days: 600 GEL fee
Family Residency Options
Once your investment residence permit is approved, your immediate family members can also apply for family reunification residency. This allows your spouse and children to join you in Georgia, offering them the same residency rights.
Why Choose Georgia for Investment Residency?
Georgia is becoming an increasingly popular destination for foreign investors due to its strategic location between Europe and Asia, low cost of living, and business-friendly environment. Additionally, its real estate market offers excellent investment opportunities, with prices significantly lower than in many Western countries.
Investing in Georgia provides a pathway to residency, allowing you to enjoy the country’s dynamic economy, stunning landscapes, and rich culture.
How We Can Help
If you are interested in acquiring an Investment Residence Permit in Georgia through real estate, we can guide you through the entire process. From selecting a property to navigating the application procedure, our team is here to assist. With years of experience helping foreign investors, we ensure a smooth, stress-free journey to Georgian residency.
Conclusion
Obtaining a short-term residence permit in Georgia through real estate investment is a straightforward process that provides valuable benefits. By investing in property appraised at $100,000 USD or more, you can secure residency for up to five years and potentially become eligible for citizenship. If you’re looking to invest in Georgia, contact us today to get expert guidance.
Expats.