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Georgia, located at the crossroads of Eastern Europe and Western Asia, has emerged as a rapidly growing hub for real estate investment and tourism, particularly in the coastal city of Batumi. Known for its favorable tax environment, business-friendly regulations, and rapidly growing economy, Georgia has become a hotspot for international investors. The country boasts a stable GDP growth rate, driven by key sectors like real estate, tourism, and infrastructure development.
With visa-free access to over 100 countries and a flat tax regime, Georgia offers lucrative opportunities for both short-term and long-term investments, particularly for those seeking residency or citizenship through real estate investment.
Batumi, in particular, has gained attention due to its strategic location on the Black Sea, burgeoning tourism industry, and affordable real estate prices compared to other European cities. Georgia’s investment programs are increasingly attractive to foreign investors looking for high returns and a path to residency.
Georgia offers a Residency by Real Estate Investment program, which provides a straightforward path to residency for foreign investors. By investing a minimum of $100,000 in real estate, investors qualify for temporary residency, which can be renewed as long as the investment is maintained. After holding temporary residency for several years, investors may apply for permanent residency, eventually leading to citizenship.
Key points include:
Here are the requirements for obtaining Georgian Residency by Real Estate Investment:
Minimum Investment:
Temporary Residency:
Long-Term Residency and Citizenship:
Additional Requirements:
Here’s the procedure for obtaining the Georgia Golden Visa through real estate investment:
Investment Selection: Choose a property in Georgia with a minimum value of $100,000. This could be residential or commercial real estate.
Documentation Preparation: Gather the required documents, including:
Property Purchase: Finalize the purchase of the selected property. Ensure all legal agreements are in place, and consider hiring a local attorney to assist with the process.
Application Submission: Submit your application for a temporary residency permit to the relevant authorities in Georgia, along with the required documents and proof of investment.
Application Processing: The application will be reviewed by the Georgian authorities. Processing times may vary, so it’s advisable to apply well in advance.
Issuance of Temporary Residency: Once approved, you will receive your temporary residency permit, allowing you to live in Georgia. This residency is renewable as long as you maintain your investment.
Path to Permanent Residency and Citizenship: After holding temporary residency for a specified period, you can apply for permanent residency. Eventually, you may be eligible for citizenship based on the duration of residency and fulfillment of other criteria.
Georgia, particularly the coastal city of Batumi, has become an attractive destination for real estate investment due to its affordable property prices, rapid economic growth, and favorable investment conditions. The country’s real estate market has experienced significant growth, driven by increased demand for both residential and commercial properties.
Affordability: Compared to many European cities, property prices in Batumi are relatively low, with average prices per square meter being much more accessible. This affordability is attracting both local and foreign investors.
Rental Yields: Investors can expect healthy rental yields, particularly from short-term rentals, which range between 7% to 9%. The growing tourism sector significantly contributes to this demand, as Batumi is a popular tourist destination.
Market Growth: The real estate market in Batumi is expanding rapidly, with new developments and infrastructure projects. Areas like the New Boulevard are particularly sought after due to ongoing investments in hotels and tourist facilities.
Investment Opportunities: Foreign investors benefit from a business-friendly environment and can obtain residency through property investment. The minimum investment threshold of $100,000 allows for a straightforward path to residency.
Legal Framework: Georgia has a transparent and investor-friendly legal framework, making it easier for foreigners to purchase properties. There are no restrictions on foreign ownership of real estate, which further enhances its appeal
