Are you looking for an opportunity to live or invest in a safe, stable country close to Europe? Then obtaining residency in Georgia through property purchase is a smart and advantageous option.
Buying property in Georgia to obtain residency has become one of the most prominent methods used by foreigners wishing to settle or expand in a thriving real estate market.
The Georgian government offers a rare opportunity through the Residence Permit in Georgia through Real Estate Investment program, which allows any foreigner who buys a property of a certain value to obtain a temporary or permanent residence permit, with the possibility of including family members.
In this article, we will cover in detail:
- Conditions for obtaining residency in Georgia through real estate.
- The cost of residency in Georgia by buying property.
- The difference between temporary and permanent residency.
- Steps to buy property in Georgia for residency purposes.
- Procedures for applying for residency in Georgia by buying property.
- Why Mbany Real Estate is a trusted partner.
Why Georgia is an ideal destination for real estate residency.
Supportive and Attractive Legal Environment
Residency in Georgia for foreigners through the purchase of real estate is a golden opportunity thanks to the flexible laws that allow foreigners to own real estate completely, without the need for a local partner.
In addition, the administrative procedures are clear and quick, making residency in Georgia through property purchase a practical option.
Strategic Location Between Europe and Asia
Georgia is located at the meeting point of Asia and Europe, and has a strategic geographical location, making it an important gateway for trade and investment. This location enhances the value of real estate investment in Georgia for obtaining residency, and opens up prospects for commercial or tourism expansion.
Low Living Costs and High Quality of Life
Georgia is characterized by low living costs compared to Western European countries, with the availability of high-quality services in the fields of health, education and transportation. This makes it an ideal environment for obtaining permanent residency in Georgia through the purchase of real estate.
Conditions for Obtaining Residency in Georgia through Real Estate
Minimum Property Value
To obtain a residence permit in Georgia by buying property, the value of the property must be at least $100,000 USD. This condition can be met by purchasing an apartment, villa, or even a group of properties, provided they are all registered in the applicant's name.
Property Registration in the Land Registry
One of the basic conditions is also to officially document ownership, by registering the property in the investor's name in the Georgian Land Registry. This procedure is easily done in a few days through a notary public.
Types of Residency Available When Buying Property in Georgia
Temporary Residence in Georgia by Buying Property
Temporary residence in Georgia by buying property is granted for one year and can be renewed annually as long as the property ownership continues. It is the ideal option for those wishing to experience life in Georgia before making a long-term commitment.
Permanent Residence in Georgia by Buying Property
After continuous residence for 6 years via residency in Georgia by purchasing property, you can apply for permanent residency, which gives you greater freedom to move, work, and live without the need for annual renewal.
Procedures for Obtaining Residency in Georgia through Real Estate
Administrative Steps
- Buy a property in Georgia to obtain residency through a reliable company such as Mbany Real Estate.
- Register the property in the Georgian Land Registry.
- Conduct a formal assessment from an accredited entity to prove that the value of the property exceeds the required minimum.
- Submit the residency application to the Immigration Department, accompanied by all the documents.
- Wait for the review period, which often does not exceed 45 days.
The Cost of Residency in Georgia by Buying Property
Minimum Property Prices
Property prices that qualify for obtaining residency in Georgia through property purchase start from $100,000 USD, and may vary depending on the location, type of property, and quality of construction.
Additional Costs
- Property registration fees.
- Notary public fees.
- Property appraisal fees.
- Legal fees when using a lawyer or real estate agent.
All these costs are added to the base price and must be accurately calculated within the cost of residency in Georgia by buying property.
Real Estate Investment in Georgia to Obtain Residency
Profitable Investment Growth Opportunities
The real estate market in Georgia is experiencing rapid growth, especially in major cities such as Tbilisi and Batumi. Investors can achieve a steady rental income by renting out residential or tourist properties.
Integrated Support from Mbany Real Estate
Mbany Real Estate provides a variety of carefully studied properties and offers after-sales services from property management to following up on procedures for obtaining residency in Georgia through property purchase.
How to Apply for Residency in Georgia by Buying Property
Required Documents
- Valid passport.
- Property purchase agreement.
- Certificate of ownership registration.
- Formal property valuation.
- Residency application form.
Processing Time
Processing a residence permit application in Georgia through real estate investment takes 30 to 45 business days, after which an official residence card is issued, which is renewable or upgradeable to permanent residence.
The Difference Between Residency in Georgia by Buying an Apartment or Villa
Buying an Apartment in Georgia to Obtain Residency
Buying an apartment in Georgia to obtain residency is the most popular option due to lower maintenance costs and ease of renting.
Buying a Villa or Commercial Property
This option is suitable for those looking for real estate investment in Georgia for long-term residency, especially with increased returns from renting it out as a luxury residence or tourism project.
Residency in Georgia for Foreigners by Buying Property: Advantages and Considerations
Advantages
- Possibility of renewing the residency annually or applying for permanent residency.
- Inclusion of family members in the application.
- Freedom to travel to neighboring countries without a visa, such as Turkey and Armenia.
- Enjoying almost full rights in residence, work and investment.
Considerations
- The need to deal with Mbany Real Estate or a specialized lawyer to ensure the legality of the property.
- Verifying the market value of the property and not relying only on the listed price.
- Legal commitment to maintain the property throughout the period of residency.
Frequently Asked Questions: How to Obtain a Residence Permit in Georgia by Purchasing Property
1. Can I buy more than one property to obtain residency in Georgia?
Yes, provided that the total value of the properties is not less than $100,000 USD.
2. Does residency include family members?
Yes, residency in Georgia through property purchase can be extended to include the spouse and children under 18 years of age.
3. How long is the temporary residence permit valid for?
Temporary residence in Georgia by buying property is granted for one year, renewable.
4. Is permanent residency required to maintain the residence permit?
Permanent residence is not required, but periodic presence is preferred to facilitate obtaining permanent residency in Georgia through purchasing property later.
5. Can I rent the property during the residency period?
Yes, and a legal rental return can be achieved, which enhances real estate investment in Georgia for obtaining residency.
Conclusion: How to Start Now in Obtaining Residency Through Real Estate in Georgia?
In conclusion, obtaining residency in Georgia through the purchase of real estate is a smart decision that combines living stability and investment return. Georgia opens its doors to foreigners through a flexible legal system and an active real estate market.
Whether you are looking for temporary residency in Georgia by buying property or aspire to permanent residency in Georgia through buying property, working with a trusted company such as Mbany Real Estate makes all the steps easier and ensures a safe investment.
Start now by inquiring about the properties that suit you, and realize your dream of residency in Georgia through real estate investment with confidence and security.
14-02-2024 
