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Everyone in the world heard the phrase “Voir Paris et Mourir” ~ See Paris Before Death. People who have visited Georgia at least once will have another phrase sounding in their head — “See Georgia and Stay”, and this is a fact that has crept into my head as well many times. So let’s figure out why this is happening, why this country attracts young people so much, and what is so special about it.
Georgia is known for the hospitality of the locals, its history, the richness of the national cuisine, the aroma of spices, and, of course, the wines. But not only the above attracts people, but also the fact that you can register a company very quickly and cheaply, the presence of Free Trade Zones, optimal conditions for Trading, a reliable Banking System that is protected at the legislative level, (consists of commercial banks that are not regulated by the government while maintaining thereby banking secrecy of their customers), and of course, Favorable Tax Incentives for IT.
Most non-residents do not need a visa to stay in Georgia, because Georgia provides unique conditions of stay – according to Georgian legislation, everyone who is legally in Georgia has the right to freely choose a place of residence, move and travel outside the country. In this way, citizens of 98 countries do not need a visa to stay in the country for a period of 1 year, with the possibility of resetting this period to zero when leaving the country for literally 1 day. You can check the list of these countries here: https://www.geoconsul.gov.ge/HtmlPage/Html/View?id=956&lang=Eng
If you do not want to be limited by a visa-free stay in Georgia, you should definitely consider obtaining a Residence Permit. There are several types of permits you can obtain, such as Short-term Residence Permit for Work or Business; Residence Permit when you Buy a Real Estate; Residence Permit by Investment; Residence Permit for Students; and Family Reunification. All of them have different legal requirements, terms and costs. In this article, you will learn more about the existing types, and application procedures, as well as costs and terms.
What is Residence Permit?
A Residence Permit is a permit that allows you to temporarily reside in the country and is issued to foreigners subject to certain requirements. For businessmen, entrepreneurs, freelancers, scientists, and students, Georgia has done everything and even more to provide very attractive conditions. In 2019, the World Bank conducted an investigation and ranked countries by ease of starting and doing business, where Georgia ranked 7th place: https://data.worldbank.org/indicator/IC.BUS.EASE.XQ?cid=dec_ss_wbgdatatwitter_ext&locations=GE&most_recent_value_desc=false
It is also worth paying attention to the fact that at the time of submitting the first application for a Residence Permit, the applicant must be present physically in Georgia (and present a document on his legal entry), this also applies to children, and this application must be submitted no later than 40 days before the expiration of the visa or legal period of stay.
Also, when applying for a “Binadroba”, you must register the place of residence by ensuring the presence of the owner of the property in the Public Service Hall or by providing his notarized consent. In the future, the extension can be done remotely.
Short-term Residence Permit in Georgia (business)
A short-term type of Residence Permit – usually from 6 months to 1 year – and can be classified as easily accessible even despite the recent tightening of the rules, since the interested applicants by being Freelancers/Entrepreneurs (IEs) or simply professional employees in Georgia, must work for or own a company with an annual turnover of only ₾50,000 GEL per employee, which is almost $18,500 USD at the time of writing. For applicants who are Individual Entrepreneurs (IEs), the amount will not differ and the turnover must also reach ₾50,000 GEL per year.
The process for Individual Entrepreneurs (IEs) is as follows:
- You must register as Individual Entrepreneur (IE) in the Public Service Hall, become tax registered, and open a bank account.
- Once your company (IE) exceeds the annual turnover of ₾50,000 GEL ($18.5 thousand dollars), you must obtain a certificate from the Tax Service to confirm the turnover of the company.
- Obtaining a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba” — Registration and ID — which is mandatory for registration by foreigners within 30 days after obtaining a residence permit:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
The process of obtaining a residence permit for work is as follows:
- If you are the owner of the company, you must be registered in it as an employee (in any position) with an employment contract;
- If you are an employee, you need an employment contract with this company;
- The salary prescribed in the contract must be at least 5 times the living wages, at the time of this writing it is ₾1,500 GEL ($555 USD);
- The annual turnover of the company must be at least ₾50,000 GEL per year for each foreign employee, excluding medical and educational institutions where the turnover for each foreign employee is 35,000 GEL per year;
- You need to request a certificate of company turnover from the Tax Service and a certificate of the total number of foreign employees;
- Applying for a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba”:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
Please also note that if your company is not a VAT payer, for example, if your company provides electronic services abroad, among other things, you need a certificate from the Tax Service that this company is not a VAT payer and instead provide a certificate from the bank with transactions for a period of 1 year.
Also, this type of Residence Permit does not imply obtaining a Residence Permit for family members.
To submit the documents, don’t forget to prepare:
- Passport;
- Copy of travel document (if any);
- Document confirming legal stay in the territory of Georgia (if any);
- Photography (service available at the Public Service Hall);
- Service fee payment receipt.
Residence Permit when buying Real Estate
One of the most popular ways to acquire a Residence Permit in Georgia! Starting from 2019, in order to obtain a temporary residence permit when Buying Real Estate, you must have real estate (excluding agricultural land) worth at least $100,000 USD at the official GEL exchange rate.
The cost is determined by the assessment, which is carried out by an appraiser accredited by the “Georgian Accreditation Center”.
This type of Residence Permit is granted for 1 year and can be applied to the closest family members — husband/wife and minor children.
At the expiration of the Residence Permit, 40 days before the end, it can be extended, provided that you still own this property or equivalent. If you have retained this property, you don’t need to re-evaluate the property when renewing this type of Residence Permit.
Also, in order to renew this Residence Permit, it is not necessary to be physically present, this procedure can be done online.
If your property/properties cost more than $300,000 USD, then a Residence Permit can be obtained under another category, namely “Residence Permit by Investment”, more about it find below.
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The process for obtaining this Residence Permit is as follows:
- Registration of a purchase agreement of the real estate in the Public Service Hall;
- Real estate appraisal document from an accredited appraiser;
- Applying for a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba”:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
On submitting the documents, don’t forget to prepare:
- Passport;
- Copy of travel document (if any);
- Document confirming legal stay in the territory of Georgia (if any);
- Photography (service available at the Public Service Hall);
- Service fee payment receipt.
Residence Permit by Investment
A Temporary Residence Permit is provided by the law “On Promotion and Guarantees of Investment Activities” and is issued for a period of 5 years to those foreign citizens who have invested in Georgia more than $300,000 USD in GEL equivalent at the rate of the National Bank of Georgia. The investment can be both in real estate and in any type of permitted economic activity on the territory of Georgia that gives you income (i.e. investment in a Georgian company — the acquisition of shares).
This type of Residence Permit, together with the Residence Permit that you obtain in the Purchase of Property, are both interesting for those who have a family, as it can be applied to their closest relatives — husband/wife and minor children, but with a difference — allows you to obtain a permanent residence permit (Permanent Residence) after 5 years.
Every year and for 5 years, you will be required to provide data on your business activity and confirm the turnover of the company in which you invested:
- 1st year after obtaining a Residence Permit — $50,000 USD turnover or more
- 2nd year – $100,000 USD turnover or more
- 3-5 years – $120,000 USD turnover or more
Please note that if you have invested in real estate, then you need to confirm ownership of the property evaluated at $300,000 USD or more every year, while you have the opportunity to change real estate (buy/sell). And if you have invested in a company that is not able to provide the required by law turnover within a year, your residence permit will be terminated. And as mentioned earlier, after 5 years you will be able to apply for a Permanent Residence Permit.
The process for obtaining this Residence Permit is as follows:
- Obtain a document through an audit report indicating that you have invested $300,000 USD or more in the Georgian economy, or a document of property/s purchase in the amount of $300,000 USD or more, which must be registered at the Public Service Hall;
- Real estate appraisal document from an accredited appraiser (in the case of real estate);
- Applying for a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba”:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
On submitting the documents, don’t forget to prepare:
- Passport;
- Copy of travel document (if any);
- Document confirming legal stay in the territory of Georgia (if any);
- Photography (service available at the Public Service Hall);
- Service fee payment receipt.
Residence Permit for Students
It is given to those foreign students who plan to study at a school, university, or college accredited by the Ministry of Education of Georgia. As a rule, this residence permit is issued for a period of 1 year, with the possibility of extension due to the state of study.
The process for obtaining this Residence Permit is as follows:
- Obtaining a certificate from a School, University, or College stating that a foreign student is a schoolchild/student in this institution, indicating the duration of the study;
- A document confirming the legitimacy of the educator’s funds, and the ability to financially support the student on a monthly basis in the amount of 2 times the living wages – 600 GEL, a bank statement is suitable for this.
- Applying for a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba”:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
- When registering for “Binadroba”, you must register at the place of residence by ensuring the presence of the owner of the property in the Public Service Hall or by providing his notarized consent.
On submitting the documents, don’t forget to prepare:
- Passport;
- Copy of travel document (if any);
- Document confirming legal stay in the territory of Georgia (if any);
- Photography (service available at the Public Service Hall);
- Service fee payment receipt.
Residence Permit for Family Reunification
This type of Residence Permit can be applied to the close relatives of a person who already has a valid Residence Permit and completely repeats its validity. It can be a husband/wife, young children, or elderly parents.
The process for obtaining this Residence Permit is as follows:
- Provide a document confirming the family ties;
- Provide a document confirming the income of a relative with a valid Residence Permit or a citizen of Georgia, which is obtained legally and is at least 2 living wages per month. The bank account balance in this case is suitable and must be at least ₾5,000GEL per person.
- Applying for a Residence Permit:
- 30 days — ₾300 GEL;
- 20 days — ₾450 GEL;
- 10 days — ₾600 GEL.
- Obtaining a “Binadroba”:
- 10 working days — ₾60 GEL;
- 5 working days — ₾80 GEL;
- 3 business days — ₾100 GEL;
- 2 business days — ₾120 GEL;
- on the same day — ₾150 GEL.
We sincerely hope that Georgia will become your second home and we’ll be happy to help you find the apartment or house you always dreamed about! We’ll tell you everything you need to know about all the locations and their differences, as well as the cultural features of this country! Our experts are ready to advise you free of charge in choosing the ideal real estate option! Find your dream home by following the link: Flatiko.ge
DISCLAIMER: This article is for informational purposes and we are not responsible for any inaccuracies in this article or information that differs from the official.
