Can I Get Residency in Georgia if I Buy a House? Your Pathway to Residency!

Are you contemplating the purchase of a house in Georgia and wondering if it can lead to obtaining a Georgian residence permit? This article explores acquiring a Georgian residence permit through property ownership. 

Georgia, a country at the intersection of Europe and Asia, presents a unique prospect for individuals seeking residency through real estate investment. Let’s delve into the specifics and uncover how purchasing a house in Georgia can potentially facilitate the attainment of a Georgian residence permit.

Understanding the Georgian Residence Permit

Acquiring a Georgian residence permit unlocks opportunities for foreigners seeking to engage with Georgia’s culture and stunning landscapes. This permit enables foreign nationals to establish residence and pursue employment in Georgia for an extended duration. One pathway to acquire this coveted residence status is through real estate investment in the country.

Background on Georgian Residence Permits

The country provides a range of Georgian residence permits, each having specific criteria to fulfill. Among the commonly sought-after types are:

• Temporary residence permit: Issued for up to 6 years. Local accommodation, sufficient funds, health insurance, and a clean criminal record are required.
• Permanent residence permit: No time limit. It was issued after living in Georgia on a temporary license for six years.
• Investment residence permit: Valid for five years. They are issued to those who invest at least 300,000 GEL into a Georgian business. 
• Property ownership residence permit: Valid for up to 5 years. They are issued to those who own real estate valued at 100,000 GEL or higher.

As you can see, Georgia does offer a specific Georgian residence permit tied to property ownership. However, there are essential requirements to understand before assuming homeownership will automatically qualify you for residency.

The Property Investment Route

Georgia embraces foreign investment in real estate and has established a legal framework to facilitate residency through property ownership. Foreign individuals purchasing houses or apartments in Georgia may qualify for a Georgian residence permit. However, fulfilling specific requirements to be eligible for the residency permit through property ownership is crucial. The intricacies and particulars of this process warrant thorough examination.

Eligibility Criteria

You must meet specific criteria to qualify for a Georgian residence permit through property investment. These criteria typically include:

Property Value: To be eligible, the property you seek to buy must be valued above the government-mandated minimum price point, presently 100,000 Georgian Lari (around $30,000 US dollars) at a minimum. This price floor is subject to adjustment, so paying close attention to any changes in the regulations about the valuation for residency is very important.

Property Type: The property you buy should be residential and not commercial. Ensuring that the intended property aligns with the requirements for obtaining a Georgian residence permit is necessary.

Source of Funds: You must demonstrate that the funds used for the property purchase are legitimate and obtained legally. This requirement ensures transparency and prevents any illicit activities.

Property Ownership: The property has to be deeded solely to you as an individual or a business entity you wholly control, adhering to Georgian legal standards. It is essential to guarantee the ownership paperwork shows compliance with requirements and your title over the property.

Application Process

After confirming you have satisfied the necessary conditions through owning property valued above the mandated threshold, you can initiate the application procedures for a Georgian residence permit. The typical process includes:

1. Property acquisition: Find and buy a suitable Georgian property above the minimum value threshold and finalize all legal and financial details.
2. Gather paperwork: Get all required documents like ownership proof, valid IDs, and funds proof ready for the application. 
3. Apply: Send your complete and accurate application and documents to the authorities. 
4. Permit issuance: After review and background checks, your approved Georgian residence permit will be issued.

Benefits of a Georgian Residence Permit

Gaining a Georgian residence permit through buying property in the country opens up several attractive opportunities, including:

Long-Term Residency: With the permit, you can reside in Georgia for prolonged periods, providing increased stability and deeper connections.

Work and Business Opportunities: With a Georgian residence permit, you can legally work and engage in business activities in Georgia. This opens up various employment and entrepreneurial prospects.

Access to Healthcare and Education: As a resident, you can benefit from Georgia’s healthcare and education systems, ensuring your and your family’s well-being.

Travel Freedom: Holding a Georgian residence permit allows you to travel visa-free or with simplified visa procedures to many countries worldwide, enhancing your mobility.

Becoming a Permanent Resident

The property-based permit grants temporary residence, not permanent residency. So, this permit does not directly lead to citizenship. In fact, to become a permanent resident, you would still need to live in Georgia on a temporary license for six continuous years. This time could be accrued using back-to-back property ownership permits. But there is no fast-track option solely tied to home ownership.

Using Property for Temporary Stays

If your primary goal is the ability to stay in Georgia for up to 1 year at a time without a visa, buying property can still help.

Foreign homeowners can enter and stay in Georgia for up to 1 year per calendar year without a visa. So, you could use your Georgian property for multi-month vacations or seasonal living. 

But this isn’t the same as a formal residency with a renewable permit. You may need to pursue one of the dedicated Georgian residence permits for long-term relocation.

Key Takeaways

While the country does offer a Georgian residence permit for property owners, there are vital requirements to understand:

• The home must be valued at 100,000 GEL or higher
• Permit is temporary (up to 5 years)
• Renewal is not guaranteed
• It does not provide a direct path to permanent residence or citizenship
• Meeting the minimum property value does not guarantee permit approval. But it remains the most crucial factor in determining eligibility for this route to temporary Georgian residence.

Last Words

Buying a house in Georgia can lead to obtaining a Georgian residence permit, allowing you to live, work, and explore the country’s unique offerings. However, it is essential to understand and fulfill the eligibility criteria and follow the proper application process. 

Acquiring a Georgian residence permit through property investment can provide long-term benefits and open doors to various opportunities. So, if you are considering investing in real estate in Georgia, explore the possibilities and seize the chance to call this beautiful country your second home.