Great Benefits Of Residency in Georgia Country
A residency in Georgia Country is sought-after for many entrepreneurs. Ease of doing business, low taxes, territorial taxation, stunning nature, and low costs of living, all these assets make Residency in Georgia country one of the best legal residencies in Europe.
A bridge between Europe and Asia, Georgia is a fantastic mix of Western and Eastern influences but with a European way of life. In recent years, Georgia has become a country that has risen in many European entrepreneurs and business people’s minds.
Georgia has a territorial tax system. This regime allows tax-free residency in Georgia Country for individuals, provided that no income from local sources is received. This tax system, unique in Europe, is ideal for those who receive international income and passive income, digital nomads, self-employed people, and all entrepreneurs who manage their businesses remotely and want to make Georgia their base camp.
Thanks to its extravagant nature, and incomparable hospitality, Georgia has become one of the World’s most dynamic tourist destinations.
Residency In Georgia Country: The Advantages
Become A Legal Resident In Georgia
A residency in Georgia Country offers very nice advantages for those who plan to live either medium or long term. A legal residence in Georgia Country gives you the right to live and work without any time limit.
Low Costs Of Living
Looking at the cost of living index, Tbilisi is one of the cheapest capital cities in the World.
Zurich 3, London 40, Paris 99, Saint Petersburg 279, Prague 299, Warsaw 359, Tbilisi 393, Kyiv 407, Istambul 449…While developing its infrastructure, the cost of living in Modern Tbilisi remains low, making Tbilisi a place to be and a good place to get a residency in Georgia Country.
A European Way Of Life
Georgia is a beautiful blend of Western and Eastern influences with a European lifestyle. Georgian sense of hospitality is legendary. Over the last decade, Georgia has attracted many foreigners, resident in Georgia, seduced by its most pleasant way of life.
Vibrant Cities
Tbilisi, the capital city, and Batumi on the Black Sea, their incredible architecture, thriving art scene, nightlife, top-night clubs and music festivals, bars, and restaurants, remind us that these thriving cities are the most important ones in the Caucasus
Stunning Natural Wealth
Prepare to be amazed: the landscapes of Georgia are breathtaking! Nestled in the Caucasus mountains, on the Black Sea’sSea’s shores, this country concentrates such an incredible natural wealth that you can ski in the mountains in the morning and swim in the Black Sea in the evening. Indeed Georgia is a paradise on Earth!
World-Class Cuisine And Wine
Georgian cuisine is one of the best in the World for its diversity and taste. Georgian Cuisine is fantastic! Georgia has a World-Class Wine Culture. Georgia is the World’s cradle of viticulture. Georgian wines will bewitch you.
Residency In Georgia Country: Some Other Nice Advantages
A legal residency in Georgia Country also offers very nice advantages for those who plan to do business either medium or long term.
Low Tax Jurisdiction
Georgia Is A Low Tax Country. Taxes in Georgia Country are among the lowest in the World. Georgia’s Taxes and tax incentives benefit individuals, investors, and companies operating in the country. Obtain residency in Georgia is
Tax-Free (1%) For Individuals If Structured Properly
If you want to run a business that you are the sole owner of, the Individual Entrepreneur Status offers incredible tax advantages. If your gross annual turnover does not exceed $165000, Georgia taxes your income at a rate of only 1%!
Business-Friendly Policies
Georgia ranks 8th in the World Bank’sBank’s 2020 Ease of Doing Business report. Georgia has simplified its bureaucracy drastically to create and manage a business in Georgia. Today, Georgia offers an incredibly welcoming and business-friendly environment. Many business people and individual entrepreneurs consider Georgia an attractive place to start and invest.
Territorial Tax System
Georgia has a territorial taxation regime. Georgia taxes only Georgian-source income. Therefore, Georgia does not tax worldwide income. If you have a tax residence in Georgia, Georgia will not tax your rental income, dividends, foreign capital gains, and All your foreign-sourced Passive Incomes.
Potentially Profitable Investment
Georgia has a few great investment opportunities in real estate, tourism, energy, wines, and agriculture. Contact us if you want more information about the great opportunities.
Other Benefits Of A Legal Residency In Georgia Country
Conveniences With Public And Private Services
Having a Resident ID card simplifies your administration here in many ways, from online access to government and notary services to better and simpler treatment with banks, utility companies, & more.
The First Step Is To Get a Permanent Residency In Georgia Country And Georgian Citizenship
Maintaining ten years of uninterrupted residency in Georgia Country is important if you look for Georgia to be a long-term home. However, some options exist to be a permanent resident in Georgia before the 10-year mark.
Right To Remain
Thanks to a legal Residency in Georgia country, you don’t need to cross the border each year. You can keep renewing the residence permit.
Showing Georgia Is Your Legal Home
Suppose you are from a country that does not have a double taxation agreement with Georgia. In that case, legal residence and tax residency are essential factors that can show that Georgia is your home and reduce or eliminate taxes from those countries.
How To Obtain A Residency In Georgia Georgia Country?
If you plan to move to Georgia, Georgia offers several temporary residency permits. The most popular ones are:
- Work Residence Permit (for those with a work contract or business in Georgia)
- Short-term Residence Permit based on property ownership >100k USD
- Long-term Residence Permit based on property ownership >300k USD
Residency In Georgia Country Through Real Estate Property Ownership: 1-year residency
Buying real estate in Georgia opens the doors to becoming a legal resident in Georgia.
This 1-year residence permit is issued to individuals – and their family members (meaning dependants/spouse/husband) – who, according to the rule established by Georgian law, own immovable property (except for agricultural land), and which market price of the property is above 100,000 USD equivalent in GEL. It can be a single property or a portfolio with a total value exceeding the threshold.
Read more about this Residency in Georgia here.
Residency In Georgia Country Through Investments: 5-years Residency
300k USD Investment Residence Permit can get a 5-year temporary residency immediately. The status is dependent on maintaining the 300k investment continuously and meeting other special requirements (which differ depending on the type of investment). Initially, an investment residence permit is for five years. Once the five-year period is over, government bodies will issue a permanent residency after approval. Under the short-term residence permit (the 100k USD investment), you must wait ten years before applying for permanent residency, so the 300k USD residence option saves you five years in the process.
Read more about this 5-year Residency in Georgia here.