The minimum investment to apply for a residence permit is 100 000 euros. The property will be registered in the House of Justice of Tbilisi, in your name. A certified expert will have to estimate the real value of the property to ensure that it is at least equal to or higher than this amount. Once this purchase procedure is completed and you are the official owner of the property, you can apply for residence in Georgia.
You must return to the House of Justice to apply for residency, with an estimate of the value of your property, a copy of all documents received when you made its registration. You will also need your passport and two passport photos.
Once the residence is granted, you will obtain an electronic residence card. This residence card is an Identity Document certifying the identity of a foreigner residing in Georgia, his nationality and the place of his residence in Georgia. Be sure to apply for your electronic residence card within six months, otherwise your residence permit will be cancelled and you will have to start the process all over again.
Initially, you will be entitled to temporary residence, usually for a period of one year, although in some cases it may be six months. Only the owner can obtain this temporary residence. However, your spouse and dependants, your children, may also apply for temporary residence once it has been initially granted to you. You will need your marriage certificate and family record book to obtain temporary residence for your spouse, children and dependants.
After the period of temporary residence has expired, you may renew your application, if you wish, on the condition that the property is still in your possession. The renewal of the electronic residence card at the end of each period is a fairly simple process. You just have to return your expired card to the Commercial Court with two passport photos, pay fees and your new electronic residence card will be issued after a few weeks
You can renew your residence for 10 years (new law may 2018). After 10 years, you can apply for permanent residence (you can get a permanent residence very quickly but then you have to make an investment in Georgia of 300 000 euros). Once you have received permanent residence, it is no longer necessary to continually renew temporary residence each year.
To avoid any complications, we suggest our clients to hire a consultant to guide them through the process. Your adviser will be able to obtain recommendations from Georgian citizens and also obtain the official evaluation proving that the value of the property is over 100 000 euros.
