Georgia has been known for its security, stable economy and its rich history, these traits combined with its strong social foundations makes its great option to consider for property investment. As of today, obtaining Georgian citizenship by investment is not possible unless if your investment is large enough to impact the country’s economy (not property investments), then it is possible to apply for a citizenship, but it’s not guaranteed that you will be approved to get this citizenship by the government. it is possible to obtain permanent residential permit by investment which is practically the same as citizen ship with the exception of voting, stay with us to learn more about Georgian citizenship by investment.
What is Georgian citizenship by investment?
As mentioned before obtaining Georgian citizenship through investment isn’t possible due to strict Georgian laws but it’s possible to obtain the permanent residential permit which can grant similar rights as someone who has citizenship with the exception of voting, plus, obtaining permanent residential permit is much easier and achievable than Georgian citizenship by investment.
Why choose Georgia for investment?
Georgia has been on the radar of many property investors as well as homebuyers because of its active property market and its business potential. Tbilisi is the capital city of this country and it’s known to be Georgian business center, this city accommodates more than a third of the entire Georgia’s population which significantly boosts the housing market activity, this feature alone is sufficient for the infamous question on why choose Georgia for investment?
Benefits of Obtaining Georgian Citizenship
As of today, the main benefits of obtaining Georgian citizenship can be summarized in having the right to vote as well as having a Georgian passport which allows the passport holder to travel to many countries without visas.
Travel freedom with Georgian citizenship
Having a Georgian passport mean you will be able to experience travel freedom with Georgian citizenship to many countries and makes traveling much more convenient and not needing visa makes the process much faster. In terms of tax benefits for citizens compared to foreigners, there are no difference at all which makes an even and leveled ground for work and businesses.
How to Qualify for Georgian Citizenship by Investment
At the moment qualifying and obtaining Georgian citizenship by investment is not possible according to the Georgian laws with the exception of your investment significantly impacting Georgia’s economy which must not be property investment, and the only other ways for a foreigner to obtain it is through marriage, getting adopted or having Georgian parents.
Investment types: Real estate, business, and government bonds
The minimum investment requirements for getting permanent residency are a sum total of 300,000 USD of investment which at first will be given a long term 5-year permit and after the 5 years if you have managed to sustain your initial investment you will be given the permanent permit. As for the duration and process to qualify for citizenship, its only going to be available if you are approved under the exception law which grants citizenship if you have made a significant contribute to the country’s economy.
Step-by-Step Guide to Applying for Georgian Citizenship
In this section we will discuss the step-by-step guide to applying for Georgian citizenship and its needed documents and the application process explained.
Gathering required documents
Unfortunately, it is extremely hard to obtain Georgian citizenship by investment and the only way is to invest in a business or start a business of your own which boosts the economy of Georgia enough to the point that the government makes an exception for you because of your investment’s contribution. The timeline of the process depends on how fast your investment contributes to the economy and as for the documents, you will need fill the citizenship application form, your passport, a photo of you, at least 2 recommendation letters from 2 Georgian citizens, documents confirming the investment and the receipt confirming the application fee.
Real Estate Investment for Georgian Citizenship
Thanks to the equal tax laws of Georgia which levels the ground for citizens and foreigners, Buying and selling properties for both foreigners and citizens are the same in terms of tax regulations, but Real estate investment for Georgian citizenship is still not possible with this method and instead you will be given a permanent residency after 5 years of preserving your initial 300,000 USD investment.
Real estate opportunities in Georgia
Cities like Batumi and Tbilisi are the most popular cities to invest in for Georgia in terms of real estate opportunities in Georgia and they make it much more convenient to buy property in Georgia. the property market overview in these cities is much more active since combined they have almost half of the entire population of Georgia.
Business Investment Options for Georgian Citizenship
The only options when it comes to business investment options for Georgian citizenship is the already mention exception by the government because of your significant contribution to the economy which the amount is not regulated meaning it can vary from time to time, but it is possible to obtain permanent residency through investment.
Investment in local businesses
Currently there are no citizenship-based investment options in Georgia and there are no Business sectors eligible for citizenship unless you invest a very high amount into a company which then elevates the company to be of great use to Georgia, only then you can hope that your contribution was significant enough to be given eligibility for applying for citizenship.
Dual Citizenship in Georgia: What You Need to Know
In Georgia a foreigner is allowed to have dual citizenship as long as he/she has disclosed this information about his/her other citizenship with the government and it’s approved by the government of Georgia.
Does Georgia allow dual citizenship?
Yes, many foreigners who have managed to obtain Georgian citizenship through other ways have managed to apply for their second citizenship in Georgian as well as other Georgians who have lost their citizenship in foreign countries and are planning to restore their Georgian citizenship. You might ask how to retain original citizenship while acquiring Georgian citizenship? As mentioned before, if you disclose that you want to keep the citizenship of your other country as well as apply for a Georgian citizenship, you are able to do so upon government’s approval.
Common Pitfalls in the Georgian Citizenship Process
Although Georgian citizenship by investment is extremely rare, it is possible to apply for citizenship through marriage, getting adopted by a Georgian, restoration and etc. there may be some common pitfalls in the Georgian citizenship process which needs to be avoided.
Mistakes to avoid during the application process
The most common issue with other methods of obtaining citizenship in Georgia and the reason of rejection is about documentation issues which most of the time are incomplete or expired documents submitted by the applicant, this by far is one of the biggest mistakes to avoid during the application process.
Georgian Citizenship for Family Members
Since Georgian citizenship by investment is not a common option then Georgian citizenship for family members is also very unlikely to happen so the next best course of action is permanent residential permit which can be extended to your family members unlike citizenship.
How to include family members in your application
For permanent residential permit you will need to take into consideration the costs and procedures for family members which come after you receive your permanent residential permit, your family members will be able to apply for permanent permit upon approval of your application.
Georgian Residency by Investment vs. Citizenship
In terms of rights and how much you are able to do when it comes to laws and regulations, a person who has permanent residential permit is able to use every service in the country same as a citizen with an exception of participating in elections.
Differences between residency and citizenship
The only difference is voting which is exclusive to citizens but other than that the person with permanent permit can enjoy all the services in the country as a citizen. One of the main benefits of permanent residency is that you will able to apply for your family members after your approval, not only that, but another benefit is also the lack of any tests for obtaining residency, citizenship needs the applicant’s knowledge of Georgian history, laws and language which makes the process significantly harder.
Conclusion
Obtaining Georgian citizenship by investment is extremely hard and according the current Georgian laws you will need to do a lot for the country’s economy to be deemed eligible for applying, and if citizenship is your main focus, you should look through different ways, however, obtaining permanent residency through investment is possible and a person with this type of permit can freely use every service within the country same as a citizen with an exception to voting.
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