Georgia is one of the most gorgeous countries when it comes to investment and tourism. Residency in Georgia requires certain conditions but we can say that you can immigrate to Georgia with ease compared to other European countries. Georgia eases the procedure of obtaining a visa without any problems or tough conditions. In this article, you will know the advantages and types of residency in Georgia.
Overview of Residence Programs
Investment (Permanent) Residence Permit
This type of residency will require you to invest 300 thousand US dollars or more in one of the Georgian projects in Georgia, and it does not allow you to obtain the residency card until you submit a document that proves your investment attached with all other papers related to the residency application.
Business Owner or Employee (Work) Residence Permit
To qualify for a work residence permit as a business owner or an employee you will have to produce an employment agreement or a parallel document confirming your employment. Please note that the applicant’s monthly salary cannot be less than about $315. If this document does not prove your monthly salary it is suggested to produce a bank account statement from a local bank authorizing a balance of around $3,780 (12 mo. x $315/mo.).
Moreover, the annual turnover of the employer shall not be less than GEL 50,000 (around US$15,800) per each foreign employee that applies for residency. A lower amount of GEL 35,000 (around US$11,100) per foreign employee applies to medical and educational institutions.
If you hold a Georgian residence permit, your family members can apply for “residence permits for family reunification.” The following are considered family members:
- Son or daughter (minor and adult).
- Minor, supported or incapable person under guardianship/custody of or fully reliant on the main applicant.
A residence permit for family reunification is issued if the documents presented are showing the relationship (e.g. marriage certificate, birth certificate) and obtainability of financial means (income or savings) to support the family members.
Property Ownership Residence Permit
To qualify for a short-term residence permit you will need to become an owner of real estate, such as an apartment, house, development land or any other residential or commercial property (but not agricultural land) worth $100,000 and more. The worth of the investment has to be verified by a self-governing auditor. A short-term residence permit is valid for one year, and can be extended by one-year increments for another five years, after which it can be transformed into a permanent residence permit, if the investment remains in place.
Do you want to obtain residency by buying a property in Georgia?
Our company “Stateya” provides you with unique properties in Georgia so that you can start your residency journey, we also help you with all the papers required and we guide you to follow the legal requirements.
Do not hesitate to contact us to purchase property and obtain residency.