How do You get Georgian Citizenship
Why Choose the Georgian citizenship?
As a free trade regime, Georgia has access to a large, growing market that is not subject to CIS and EU customs tax. Taxes on individual and business residents are low and the country is politically stable. Low corruption and new interests in major economic investments in the country make this small country a desirable place for investors to benefit from a Georgian passport.
The price of the Georgia Citizenship by Investment program is one of the cheapest out there and is comparable in advantages to other similarly-priced programs often found in the Caribbean. Business and travel routes are well connected to Europe, Asia, and Russia, providing a welcoming gateway to sought-after markets.
Georgia Country Profile
Short History: Located on the eastern banks of the Black Sea, Georgia is a country known for its ancient civilization. There have been populations living in the region since nearly 2 million years ago, some of the oldest civilizations found within Eurasia. Georgia is often cited as the “First Europe.”
With it comes a long, rich culture with a distinct alphabet and the oldest wine region worldwide. Those familiar with the Silk Road will enjoy exploring the heart of the trade route that ran right through Georgia. Since being an independent republic, to a part of the Soviet Union, to once again returning as a sovereign nation in 1991, Georgia has steadily developed into a modern country with many benefits for foreign nationals interested in residing close to Europe, Asia, and Russia.
Taxes: The personal income tax – for locals and foreigners – for locally sourced income is 20% (only 5% for interest, dividends, and royalty). However, foreign-sourced income is tax-exempt! There is no property tax except for rental income (<1%). Keep in mind that you are a tax resident once you stay in the country for at least 183 days per year.
Corporate tax is 15%. VAT is 18%. The import tax ranges from 0-12%. Excise duties are only imposed on certain goods, such as gas, alcohol, and automobiles. There are also several tax incentives for businesses to reduce tax rates on certain business activities.
Advantages & Disadvantages: The lifestyle and monetary advantages of Georgia really make Georgian residency and citizenship a standout in Europe. The cost of goods and services is quite cheap, even with luxury goods. The process to open bank accounts, buy a car, or start a business is stress-free.
Low taxation helps to stretch money out further and opportunities to invest in business or real estate ensure that foreign nationals can make more income. While the country is not as developed as other parts of Europe and the language is difficult to master, Georgia is quickly improving its industries and infrastructure. It is also more difficult to reach tourist destinations within the country, but this is made up by the close and cheap proximity to other global travel hotspots.
Languages: The official language is Georgian. However, a foreign national can get by knowing Russian in Batumi and English in Tbilisi. If a foreign national is interested in becoming a citizen, they will need to pass a language test as well as a basic law and history test.
Healthcare: Expats are not covered under Georgia’s healthcare system, thus receive no subsidized or free services. While Georgia is expanding many areas of its economy and development, healthcare services are still being improved and are not yet at the same level as the rest of Europe. There are plenty of affordable healthcare insurance companies to choose from and purchasing a comprehensive policy is a necessary part of life in the country as a foreign national.
Retirement: There are no specific retirement programs in Georgia, but the affordable cost of real estate investment as an option for residency makes it an ideal location for retirement. Further, the cost of living is low, banks offer a high interest rate of 9.5%, and the tax system makes retirement money go a long way compared to other retirement destinations.
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With stunning natural landscapes and fascinating cultural heritage, Georgia is not to be missed. Our professionals can assist you in discovering this hidden gem!
Georgian Citizenship Program Highlights
What Are the Requirements?
Included in the application, an applicant must have:
Citizenship Program in Georgia
So how do you get Georgian citizenship? The process is quite straightforward and hassle-free! Best of all, there are several options for investors to choose from. The fastest option is to make an exceptional donation to the state of Georgia. However, other options include investment for residency permits, that over time can lead to the granting of Georgian citizenship. Family members are allowed on the application, which includes spouse and children under the age of 26. In cases of residency, parents are also allowed.
The entire process takes less than 6 months to complete, depending on the investment route.
Citizenship by Exception
With a one-time sizable donation to the state of Georgia that demonstrates a willingness to contribute to the development of the state, a foreign national is granted a Georgian passport by the President of Georgia as well as any additional family members without the cost of added on fees. Family members allowed on the application are spouse and children under the age of 26. Most often, the sum of the investment donation is around 300,000 USD.
Real Estate Residency
A one-year residency permit will be granted to foreign nationals who purchase a property of at least 100,000 USD. This can be a combination of investment properties as long as the total meets the minimum of the program. After 5 years, a foreign national can apply for permanent residency and after 10 years apply for citizenship.
Through the investor option, a foreign national must make an investment of at least 300,000 USD in Georgia or own 300,000 USD in real estate property to receive a temporary 5-year residency card. Business activity must be released to the appropriate government bodies and show an annual turnover of at least 50,000 USD in the first year, 100,000 USD in the second year, and 120,000 USD for the remaining years. If property ownership is part of the initial application, the property must be maintained for the entire five years.
While this is a temporary residence permit, there is a high likelihood of it leading to permanent residency after the 5-year period. After 10 years, citizenship application is possible.
Property Selection and Purchase
Document Preparation, Application Submission, Pay Investment Funds
Approval of Application
up to 6 months
Georgian Citizenship Costs at a Glance
Real Estate Investment Property: 100,000 USD
Property Tax: 0%
Rental Revenue Tax: <1%
Registration and Immigration Fees: approx. 15,000 Euros
ROI Estimated (rented out): 8.1-10.2%
Total: 100,000 USD + Fees (Legal and application) + VAT
Find out how to get Georgian citizenship!
Whether you are looking for Georgian citizenship or residency, the programs provide excellent access to diverse markets in key international regions and a range of benefits for investors and their families.