Long-term Residency in Georgia Country:
Renewable 5-year Residency
Following different paths, as an Individual, you can obtain a long-term residency in Georgia Country for your family, spouse, and dependents in Georgia.
Suppose you are planning to move to Georgia or are already here and are hoping to switch from a visa to a long-term residency; 2 types of long-term residency permits in Georgia Country are available :
- Based on entrepreneurial activity in Georgia and through Business Investment in your Company registered in Georgia.
- Through a Real Estate Investment & property purchase
Long-term Residency Permit In Georgia Country Through Real Estate Investment
Buying real estate in Georgia opens the doors to becoming a legal resident in Georgia.
According to the rule established by Georgian law, a Long-term Residency in Georgia Country is issued to an individual (and his family members, meaning dependents/spouse/husband) who is the owner of immovable real estate property (except for agricultural land), which market price is above USD 300 000 equivalent in GEL. It can be a single property or a portfolio with a total value exceeding the threshold.
The Government of Georgia will issue the Investment Residence Permit for five years. Once the five-year period is over, and if the applicant maintains the 300k investment continuously, Georgia Government will grant him a Permanent Residence Permit after approval.
How To Apply For A 5-Year long-term Residency In Georgia Country
Buy A Non-Agricultural Real Estate Property
A building land, an apartment, a commercial area, etc., in Georgia with a market price of more than USD 300,000. If necessary, we can introduce you to our network of real estate agents in Georgia to help you find the most appropriate investment option.
Open Your Personal Bank Account In Georgia
You have to deposit a minimum of GEL 15 000 (approx $5000) in your bank account and get a bank account statement (this amount covers the annual minimum cost of living in Georgia, which is GEL 1200 / month ). You can release and use this money after submitting the residency permit application.
The Property Audit Document
Get the appropriate audit document of your property through the help of an auditing company. This document certifies USD 300,000 investment in real estate.
A Few Things To Know About A Long-term Residency In Georgia Country
Duration Of Validity Of The Residence Permit
A long-term residency is first issued for five years. Once the five-year period is over, and if the applicant maintains the 300k investment continuously, in the 6th year, you would be able to apply for permanent residency in Georgia.
The Process Timeline
Applying for getting residency approval, and collecting Resident Card takes 20 to 45 calendar days. You can leave Georgia after applying and return after getting approval for residency.
Get Residency Permit In Georgia Country For Your Family
After you get the Georgian long-term Residency Card, your spouse, husband, and children are eligible for this Residence Permit.
Long-term Residency In Georgia Country, Through Business Investment
Five years Residence Permit is issued to an applicant who invests in a Georgian Company. Applicants will need to incorporate a company in Georgia and invest USD 300,000 in their Company. This Investment Residence Permit will be issued for five years following the incorporation and investment.
How To apply For A 5-year Long-term Residency In Georgia Country Through business Investment
Register Your Business
You shall register your business / Company in Georgia and become a shareholder or director of this Legal entity. Thanks to a Power of Attorney, you can do this incorporation remotely before visiting Georgia. (Please read our Company Formation Overview).
Invest In Your Georgian Company
You will need to invest USD 300 000 in this Company: buy real estate, materials, rental office agreement, issue loans, money in the Company’s term deposit account, etc.). . You shall prepare the appropriate audit report with the help of an auditing company. You shall provide this Audit with evidence that the investment amount exceeds USD 300 000.
Turnover
Before the residency application, you must deposit GEL 15,000 (approx USD 5,000 ) in the Company’s bank account. You can release and use this money after submitting the residency permit application. Afterward, the Company’s annual turnover shall exceed: USD 50,000 for the first year, USD 100,000 for the second year, and USD 120,000 for the third, fourth, and fifth years.
Open Your Personal Bank Account
You shall open a personal bank account in Georgia and deposit a minimum of GEL 15000 (approx USD 5,000 ) in your bank account (this amount covers the annual minimum cost of living in Georgia). You can release and use this money after submitting the residency permit application.
A Few Things To Know About A Long-term Residency In Georgia Country Through Business & work Activity
Duration Of Validity Of The Residence Permit
A long-term Residence Permit In Georgia Country through business investment is issued For five years. Once the five-year period is over, and if the applicant maintains the 300k investment continuously and meets other requirements which depend on the nature of his investments, in the 6th year, they would be able to apply for permanent residency in Georgia.
The Process Timeline
Applying, getting residency approval, and collecting Resident Card takes 20 to 45 calendar days. You can leave Georgia after applying and return after getting approval for residency.
Get Long-term Residency In Georgia Country For Your Family
After you get the Georgian Residence Card, your spouse, husband, and children are eligible for this Residence Permit.
Do You have to be in Georgia to apply for a long-term residency permit in Georgia Country?
For first-time residency applications, you must be in Georgia, and your current permit/visa must have at least 40 days of validity before applying. It can be done online from outside Georgia if you are making a permit renewal.
Can you organize family reunification residency permits?
Yes. If you are interested in this service, please book a free consultation, and we can provide a price based on your exact needs. Typically the price is the same as for the work residence permit for the principal applicant and is discounted for each additional applicant.
How can I prove the turnover of my LLC?
Copy of your VAT turnover statement issued by the Revenue Service. If you’re not registered as a VAT payer, the Revenue Service can give a similar document.
The Bank statements of your LLC Corporate Bank Account show the LLC’s turnover.
Happy Georgia in-house team will handle your long-term residency in Georgia Country. Regarding your Long-term Residency in Georgia based on business investment, our team will be pleased to help you get this residency permit in Georgia Country for you, your family & dependents. Please get in touch with one of our advisers.
If you want to read more about a short-term residency permit, it’s here