- August 3, 2020
- Posted by: Editor
- Category: Law
Several types of visas allow foreign nationals to enter Georgia and stay for long or short-term purposes. Among these, the investor visa is one that is based on minimum investment and that also allows the holder to legally reside in the country (with his family, if applicable).
In order to obtain the Georgia investor visa, a foreigner will need to make the aforementioned minimum investment, in the case of investment by business activities, maintain the company, and provide information to the authorities about the annual turnover.
This can be a valid option for those looking to obtain Georgian citizenship, after a number of years.
The investment residence permit can be a suitable option for entrepreneurs who have the capital and are interested in obtaining Georgia permanent residence. However, before applying, it is useful to properly understand all of the conditions for this visa as well as how to apply and provide adequate evidence of the actual investment. In this article, our team provides key details on the requirements, namely the minimum amounts, and other details that may be of interest.
Foreign nationals who are interested in Georgia immigration can also reach out to us for details about other types of visas if they are more suitable for their particular situation.
What is the minimum amount for obtaining a Georgia investor visa?
The primary condition for obtaining an investment residence permit in Georgia is to make an investment of at least 300,000 USD, the equivalent in GEL (amounting to approximately 990,000 GEL). This can be made in property ownership (only real estate, not in agricultural land). When the Georgia investor visa is obtained following a real estate investment, it is useful to know that a certified property assessor in the country will valuate the purchase.
The residence permit obtained after a real estate investment of at least 300,000 USD is valid for five years and it can also extend to the investor’s family members (for example, the spouse, children, underage dependent person, or fully dependent incapacitated person). One of our Georgia permanent residence agents can provide more details on how the family members can also enter the country based on this permit.
What are the general investment conditions?
As previously noted, the investment can be made in real estate in the country. Another option, and one that will allow the holder to obtain a residence permit for an indefinite stay, would be to make an investment of the GEL equivalent of 300,000 USD in a business venture with a minimum annual turnover. The conditions are as follows:
- 50,000 USD: the minimum turnover for the company’s first year of activity;
- 100,000 USD: the turnover for the company’s second year of doing business; and
- 120,000 USD: the minimum turnover for the third, fourth, and fifth years of activity.
The USD equivalent in GEL is used when calculating these amounts for the Georgia investor visa.
Foreign nationals who have the capital to invest in property, a business, or a project in the country can benefit from obtaining the five-year residence permit in Georgia for themselves and their family and this can extend to obtaining Georgia citizenship if certain other conditions are met at the end of the minimum mandatory residence period.
What are the steps for obtaining the Georgia investor visa?
Securing the investment is the most important step when applying for this type of visa or residence permit. As previously mentioned, purchasing a property will be subject to a real estate evaluation performed by a local accredited appraiser. This is an important step in order to determine if the chosen property does qualify. Once the process is complete, the owner can present the documents, along with the others that are required, when submitting the application for the Georgia investor visa.
Our team of Georgia immigration agents can provide more details on the actual application submission process. We can also provide details on the general company formation steps, for those investors who are willing to open a company in Georgia and register it.
Investors who are interested in applying for a residence permit should know that they apply for a residence card within one month from receiving their residence permit. This is applied for at the Public Service Development Agency, belonging to the Public Service Hall. Our team can assist applicants during the entire process related to obtaining permanent residence and, later on, as needed, Georgian citizenship.
The Georgia investor visa can be a preferred manner of obtaining residence in the country for foreign nationals, compared to the Georgia work visa, for example. The primary condition is for foreigners to make and maintain their investment in the country.
Contact us for more information about the Georgia investor visa as well as other types of visas for entering the country.