Many people are curious about Georgian citizenship; Georgia is a former Soviet republic situated on the Black Sea’s eastern coast, on the boundary between Europe and Asia. It is bounded on the north by Russia, on the south by Turkey and Armenia, and on the southeast by Azerbaijan. It has a population of somewhat more than 3.7 million people, more than half of whom reside in Tbilisi, the capital. Georgia’s official language is Georgian, and the Georgian Lari is its legal tender currency (GEL).
Why does Georgian citizenship by investment matter?
As a free trade regime, Georgia has access to a large, expanding market that is tax-free in the CIS and EU. Individual and business inhabitants pay modest taxes, and the nation has political stability. Due to low corruption and renewed interest in large economic initiatives, this tiny country is an attractive destination for investors seeking to profit from a Georgian passport.
Georgian citizenship by Investment is one of the most affordable programs available and offers equivalent benefits to other similarly priced schemes often seen in the Caribbean. In addition, business and travel connections to Europe, Asia, and Russia are well-connected, making it an ideal gateway to sought-after markets.
Georgia citizenship program has several significant benefits, including the ability to join the Schengen area after the European Union’s agreement with Georgia and visa-free travel to a large group of countries, including Malaysia, Latin America, and Indonesia, among others.
Once you have obtained citizenship in Georgia, you may apply for a Georgian passport. Here, we will discuss the many ways you can get citizenship in Georgia.
1. Georgian citizenship as an exception:
Nationality is awarded in this situation if it is in the state’s interest and is granted by the President of Georgia. You will need two letters from individuals registered with Georgian citizenship to apply.
2. Georgian citizenship according to simple procedures:
In this instance, citizenship is granted to the wife of a Georgian citizen. She has been in the nation for two years, understands Georgian law’s fundamental principles, and is proficient in the Georgian language.
3. Georgian citizenship according to the standard procedure:
The standard procedure requires ownership of property or employment in the state of Georgia, residence in the state for a minimum of six years, proficiency in the Georgian language, knowledge of the law, and a criminal record that is free of any crimes, penalties, or violations punishable by law for the duration of residence.
Georgian citizenship by Investment
Georgian citizenship through the Investment programs aimed at obtaining direct citizenship is considered a type of immigration portal in general, as they require the investor to contribute a certain amount to the economy of the country in exchange for obtaining a permanent residence and eventually the right to citizenship or nationality and passport of that country.
Georgia provides citizenship to investors; after making a gift to the country, you will get your citizenship, including several benefits such as visa-free travel to all Schengen countries, even though Georgia is not yet a member of the European Union or the Schengen region.
Investors’ residency status in Georgia
Acquiring citizenship by Investment begins with the acquisition of an investment residency permit. This permission is issued to those who want to get Georgia residency via Investment in the form of permanent residence after the acquisition of property. However, it is essential to remember that the applicant and any family members with the right to immovable property may be awarded a separate, short-term residency permit in Georgia.
The following details apply to the minimum investment and permit validity:
According to the Law on Promotion and Guarantees of Investment, the minimum amount required for an investment residence permit for foreign investors is 300,000 GEL; 35,000 USD equivalent in GEL, or approximately 11,252 GEL, is the minimum market price value for immovable property (except agricultural land) for those applying for a short-term residence permit; both of these permits for Investment in Georgia have a validity period of six months to one year;
To get citizenship in Georgia via Investment, some entrepreneurs may opt to buy real estate or form a corporation that must be registered with the National Agency of Public Registry. Both alternatives are viable; however, the minimum investment requirement must be met, and if corporate incorporation is selected, the company owner must also adhere to specific yearly revenue criteria. One of our Georgia immigration specialists can give further information on these requirements.
It is important to remember that holder of a residence permit in Georgia are expected to apply for a Residence Card via a territorial office of the Public Service Development Agency; failing to do so within six months may result in the permit being terminated.
Individuals interested in investing should keep in mind that the investor’s family members are also eligible for the investment residency permit (spouse, dependent underage children, or incapacitated persons). You may contact our Georgia permanent residency experts for further information on the requirements that must be met while applying for family members.
Georgian dual citizenship
Georgian passport rank 24th with 106 points in the Global Passport Index 2021. Dominica, Vanuatu, and Turkey all have passports in the same category. Moldovan and Turkish passports, for example, are included in the list below.
According to the Henley Passport Index 2021, the Georgian passport is 55th (between Bosnia & Herzegovina and Albania), higher than the Turkish passport, which is ranked 57th.
Georgia has visa-free travel arrangements with the Schengen zone and many other national nations, which is one of the passport’s primary benefits. Additionally, foreign candidates for Georgian citizenship will get the following benefits:
- A chance to retain their current citizenship (in Georgia, dual citizenship is currently legal);
- Access to Georgian banks includes the ability to borrow;
- A chance to incorporate a firm in Georgia;
- Access to the country’s educational system;
- A chance to acquire agricultural land;
- A chance to vote;
- Access to the national health insurance system and access to most public services online.
Additionally, Georgia provides healthful food items, spectacular scenery (mountains and sea), a pleasant temperature, and a cheaper cost of living than surrounding nations. Additionally, doing business in Georgia is simple, and taxes are very modest. Additionally, Georgia provides duty-free access to markets with a combined population of over 2 billion people. Georgia, in particular, is the region’s only nation to have signed free trade deals with China and Hong Kong.
If you are in the information technology industry, you should pay particular attention to Georgia. The government provides significant tax incentives to web designers, software developers, and other information technology professionals. Additionally, people may incorporate businesses in Georgia and do business from afar since Georgia has widespread access to Internet banking and online accounting help.