Investment Residence Permit — Property over USD 300,000

Investment residence permit is issued to an alien and his/her family members, who has made an investment in Georgia in accordance with the Law of Georgia on Promotion and Guarantees of Investment Activity, or who has the title to an immovable thing in the territory of Georgia in a manner prescribed by the legislation of Georgia.

Document evidencing at least USD 300 000 investment made in Georgia (audit report by a certified auditor) or a document of title to an immovable thing (except for agricultural land) in the territory of Georgia, with the market value exceeding USD 300 000 equivalent in GEL

h) an investment residence permit to be issued to an alien and his/her family members, who has made an investment in Georgia in the amount of at least USD 300 000 equivalent in GEL in accordance with the Law of Georgia on Investment Activity Promotion and Guarantees, or who has, on the territory of Georgia, under the procedure established by the legislation of Georgia, the right to an immovable thing (except for agricultural land) the market value of which exceeds USD 300 000 equivalent in GEL.

For issuing an investment residence permit, the market value of the immovable thing shall be established by a certified assessor of a body accredited by the Legal Entity under Public Law – the Georgian Unified National Accreditation Body – Georgian Accreditation Centre.

e) an investment residence permit provided for by Article 15(h) of this Law may be issued to an alien for a term of 5 years.

A person holding an investment residence permit issued on the basis of having ownership of an immovable thing worth of more than USD 300 000 equivalent in GEL shall be obliged to maintain the property right to the immovable thing on the basis of having ownership of which the investment residence permit was issued, or to the immovable thing that has been used as a replacement under the condition provided for by Article 21(1 3 ) of this Law;

The validity period of the alien’s investment residence permit shall not be terminated if, before the property right to the immovable thing is terminated, he/she submits to the Agency the extract from the Public Registry concerning his/her ownership of an immovable thing worth of the same or more value.

For the purposes of this subparagraph, family members of an alien shall be: his/her spouse, a minor child, and a fully dependent beneficiary of support or a disabled person, and an alien’s fully dependent person recognised as legally incompetent in a manner prescribed by the legislation of a country in question.

Residence Permit  for indefinite stay  is issued to an alien and his/her family members, to whom an investment residence permit has been issued on the basis of an investment made in the amount of USD 300 000 equivalent in GEL, who has a proof of the annual turnover of at least USD 50 000 equivalent in GEL during the first year of the entrepreneurial activities he/she has carried out in Georgia; the annual turnover of at least USD 100 000 equivalent in GEL during the second year, and the turnover of at least USD 120 000 equivalent in GEL during the third, fourth and fifth years, or to an alien, and his/her family members, holding an investment residence permit issued on the basis of having ownership of an immovable property  worth exceeding the equivalent of USD 300 000  in GEL, who has the property right to this immovable property  for 5 years after he/she received the investment residence permit.