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Permanent residence in Georgia with property purchase

Permanent residence in Georgia with property purchase

Permanent Georgia residency by buying property

Permanent Georgia residency by buying property is one of the best ways to obtain permanent residency in this country.

According to the immigration law approved on May 30, 2019, foreigners can obtain Georgia permanent residency by buying a property with a minimum value of US $300,000. Due to the permanent kind of this residence and the possibility of using all the facilities of life and work like citizens, it is suggested to the holders of permanent Georgia residency to buy a property if you have the conditions to buy a property with a value of more than US $300,000 in Georgia and choose Georgia to obtain residency.

Permanent residence in Georgia with property purchase

Permanent Georgia residency by buying property

If a foreigner buys a property worth at least US $300,000, he will first be granted a 5-year residence in Georgia, which is called an investment residence. Then if the owner of the residence does not sell the property he received or immediately replaces it with a property of the same price during this period, he can obtain permanent Georgia residency by buying property. A very important point is that the criterion for reaching the quorum is at least US $300,000 and it does not matter if this amount is spent on buying one property or several ones. For example and further explanation, it doesn't matter if you have a property worth US $300,000 or several ones which total value is US $300,000.

Permanent residence in Georgia with property purchase

Read more about Real Estate in Georgia

Steps for obtaining permanent Georgia residency by buying property

After completing the documents done by the lawyer, it is time to evaluate the purchased properties by the official appraiser approved by the government. According to the Georgian laws, the property value is evaluated by the appraiser. (Of course, it should be noted that the evaluation is also reviewed by the Immigration Department). In the permanent Georgia residency by buying property, there should be a very close interaction between the applicant, the lawyer and the evaluator, because completing the documents is very important in the process of obtaining the permanent Georgia residency by buying property. After preparing the evaluation, which generally takes a few days with the cooperation of the lawyer and the official evaluator, it is time to go to the Public Utilities Office with complete documents along with the lawyer, and after delivering the documents and paying the government fees, which will be paid in 2 ways, 20 days by paying 500 GEL and or 30 days by paying 350 GEL, we have to wait for the answer of Georgia's residence. After receiving a positive answer for residence, we must again go to the Public Utilities Office with the lawyer and request the issuance of a residence card so that the residence card can be prepared within 10 working days.

Permanent residence in Georgia with property purchase

Documents required to obtain permanent Georgia residency by buying property

  • 1

    The presence of the applicant along with the original passport

  • 2

    The completed residence application form (done by the lawyer)

  • 3

    The passport translation into Georgian (done in Georgia)

  • 4

    The photo (taken at the Public Utilities Office)

  • 5

    At least 40 days until the time of visa application

  • 6

    Evaluation documents of purchased properties

  • 7

    Clean record certificate from the passport issuing country

  • 8

    Documents related to approval by 3 Georgian CEOs (will be prepared with the advice of the company's lawyers)

Documents required to obtain permanent Georgia residency by buying property for family members (wife and children under 18 years old)

  • 1

    The presence of the applicant along with the original passport

  • 2

    Completed residence application form (done by the lawyer)

  • 3

    The passport translation into Georgian (done in Georgia)

  • 4

    The photo (taken at the Public Utilities Office)

  • 5

    A copy of the positive answer or residence card of the main person who has a residence in Georgia

  • 6

    Clean record certificate from the passport issuing country

  • 7

    The certificate of relationship between the applicant and the resident of Georgia

  • 8

    At least 40 days until the time of visa application

Frequently asked questions about permanent residence in Georgia with property purchase

1 Do you have to pay 300,000 USD to buy one property to get permanent residence in Georgia, or is it possible to buy several properties?

The Immigration Office criteria for granting permanent residence in Georgia with purchase of property is the set of properties you purchased, so it doesn't matter if you bought a property for $300,000 or 5 properties for $60,000.

2 Is it possible to obtain permanent residence in Georgia by buying land?

Yes, by purchasing non-agricultural land with a value of not less than 300 thousand dollars, you can obtain permanent residence in Georgia by purchasing a property, but note that you cannot obtain residence by purchasing agricultural land

3 What are the criteria for calculating the price of real estate in granting permanent residence in Georgia with property purchase?

The Immigration Office criteria for granting permanent residence in Georgia with property purchase is an evaluation by an official government-approved appraiser, and the purchase amount is not the Public Services Office standard for determining the amount.

4 How long after buying a property can you apply for permanent residence in Georgia with property purchase?

Immediately after purchasing the property, you can apply for permanent residence in Georgia with property purchase

5 Who can obtain a residence permit after purchasing permanent residence in Georgia with property purchase?

After obtaining permanent residence in Georgia, you can obtain residency for your spouse, children under the age of 18, and your parents.

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