Staying in Georgia and purchasing property is now welcomed by many Iranians and citizens of countries such as India, China, Russia and other Arab countries, and the reason is that Georgia is likely to join the European Union, security, having a peaceful life, cheap cost of living and so on… in this beautiful country.
Purchasing property in Georgia
Couple of years ago, the Georgian government introduced a Georgian residency program for buyers of real estate in Georgia, according to which residency is granted to foreign buyers through the purchase of real estate in Georgia.
According to a law passed by the Government of Georgia and defined in the text of the Constitution of Georgia on the subject of investment and granting residence to Georgia to foreign citizens, any foreigner who buys property for at least 100000 US dollars can obtain a one-year residence permit in Georgia. And the pricing criterion is actually the price that is priced by the official government expert. These properties include real estate, commercial units, residential and land.
Keep in mind that not all agricultural land can be sold and transferred to foreigners, and only agricultural land in Georgia can be leased for a long time.
Before July 2018, through buying a property with the value of 35000 USD you were be able to obtain for temporary residence permit which was later approved and implemented by a decision taken by the government at the beginning of 2019 to increase this amount to a value of $ 100,000. In other words, the law on obtaining a residence permit by purchasing a property worth US $ 35,000 is obsolete.
Advantages of purchasing property in Georgia
- Georgia’s plan to join the European Union not far away.
- After obtaining a residence permit for the buyer, he/she is able to apply residence permit for his/her family (parents, spouse and children under 18)
- Value added property purchased annually more than 10%.
- Receive permanent residence in Georgia after 6 years of temporary residence extension.
- You can use loans and bank facilities to start a business in Georgia.
- There is exemplary security in Georgia, and the crime rate is almost zero
In general, it is necessary to note that in Georgia, buying and selling property and the process of changing ownership is very easy and in the shortest possible time, and even after buying a property, you can easily rent your property and gain income. If you have any questions regarding obtaining permanent residency in Georgia and buying a property in Georgia, contact our experts at Ava Georgia.