In recent years, Georgian citizenship by investment has become an increasingly popular path for high net worth individuals to obtain residency rights and citizenship in Georgia. As a country located at the crossroads of Europe and Asia, Georgia offers a high quality of life, business-friendly policies, visa-free access to EU and other countries, and a relatively affordable investment threshold for citizenship. In this article, we will look at the key requirements, procedures and benefits of obtaining Georgian residency and citizenship through investment.
Overview of Georgia’s residency and citizenship by investment programs
Georgia has officially legislated residency and citizenship by investment programs that provide clear requirements and application procedures. The Georgian Law on Promotion of Investments allows foreign nationals to obtain temporary or permanent residency by making an investment of at least USD 300,000 in a Georgian company, enterprise or real estate. After 5 years of legal residency, investors can apply for full Georgian citizenship. Key benefits include visa-free access to EU/Schengen area, right to live, work and study in Georgia, ability to apply for citizenship after 5 years, and dual citizenship allowed by Georgia.
Investment options and requirements for Georgian residency
To qualify for the Georgian residency by investment program, foreign nationals must invest a minimum of USD 300,000 (or equivalent in GEL) into one of the following: – Purchase real estate in Georgia – Make a direct investment into a Georgian enterprise or company. – Deposit cash into a Georgian bank account. The investment must be held for the entire duration of the temporary residency permit. Applicants must also provide supporting documents such as passport copy, background checks, birth certificate, and application fees.
How to apply for permanent residency and Georgian citizenship
After holding temporary residency for 5 years in Georgia, investors become eligible to apply for permanent residency or full Georgian citizenship. The key criteria are: – Legal residence in Georgia for 5 consecutive years – Spent no more than 10 months outside Georgia – Pass Georgian language test – Demonstrate basic knowledge of Georgian history and culture – Maintain investment Real estate investors must retain ownership of property, while entrepreneurs need to show increasing company turnover during the 5 year residency period.
Advantages and benefits of Georgian citizenship
Some of the main benefits of obtaining Georgian citizenship by investment include: – Visa-free access to EU Schengen area, Russia, Turkey and many other countries – Right to live, work and study anywhere in Georgia – No requirement to renounce current citizenship – Dual citizenship allowed by Georgia – Low minimum investment of USD 300,000 – High quality of life, low cost of living and excellent climate – Business friendly policies and tax regime – Access to high quality healthcare and education system – No personal income tax for businesses
In summary, Georgia’s citizenship by investment program offers foreign investors an efficient and straightforward path to obtain residency rights and EU passport in exchange for a minimum capital investment. With business friendly policies, high quality of life and strategic location, Georgia presents an appealing destination for those looking to relocate or diversify their citizenship portfolios.