These days many people are thinking about emigration. One of the easiest and safest ways to get a residence in Georgia is obtaining residence through purchasing a property with the official value of $100000.
Of course, $100000 does not mean the nominal value of the property, but the property’s expert value, That means you might buy a valuable property for $ 65 – $ 80,000, but the estimated value is $100000 or more.
The short-term residence permit is issued to the person and his/her family members who according to the rule established by Georgian legislation have the right to immovable property (except for agricultural land) with the market price above $100000 equivalent in GEL.
What documents are required to apply for a short-term residence permit?
Firstly the apartment would need to be registered at the Public Services Hall in the buyer’s name and an appraiser who has been certified by the Georgian Accreditation Centre will need to check the property to ensure that the true value of the property is in excess of this amount. As a result, it is not possible to apply for the Scheme until the property is completed and you are the official owner.
To apply for the Residence Scheme, you will need to return to the Public Services Hall in Tbilisi in order to apply. You will need the appraisal of the value of your property, plus a copy of the documents that you received upon registered the property. You will also need your passport, with stamps showing that you have legally entered the country, plus two passport photos. You will also need three Georgian citizens to recommend your application for Residence.
There must be a minimum of 40 days remaining on your visa at the time of first applying for Residence in Georgia.
The fee for processing your application is GEL 210 which is around $70 if you are able to wait for 30 days. If you pay a little more, then the Residence can be issued faster. Current rates are GEL 330/$110for a period of 20 days, while the fastest possible option is a ten day period, which costs GEL 410/$136.
Once your residence is granted, you can apply for an residence card in the Public service hall. Be sure that you apply for ID card within six months.
Initially you will be granted Temporary Residence for a period of one year. Also your spouse, children and your parents will be able to obtain for their residence permit.
After the initial period of Temporary Residence has expired, then it can be renewed providing that the property is still in your possession. Renewing the temporary e-residence card at the end of each period is a fairly simple process. You just need to take your expired card back to the Public Services Hall together with two passport photos and pay a small fee and your new e-residence card will be issued to you after a few weeks.
You can continue to renew your Temporary Residence for a period of five years. After five years, you will be able to apply for Permanent Residence. Once you have received Permanent Residence, there is no need to continually renew the Temporary Residence each year any more.
In case you have any issue regarding obtaining residency through purchasing a property or investing in Georgia or any other ways for obtaining the residency please don’t hesitate to contact our consultant in Ava Georgia.