Georgia is one of the countries that has had so many applicants for residency in recent years due to its excellent economic conditions, freedom of expression and security, so that you, who are reading this article, are probably thinking of migrating to this country. It is worth mentioning that at present, obtaining a residence permit in Georgia through the purchase of property has been the most demanded by individuals, but before taking any action in this regard, one should be familiar with all the conditions.
In this article, we are going to talk about the interesting points about buying a property in Georgia so that you can use this method to get a residence in this country. It goes without saying that obtaining a residence permit in Georgia through the purchase of real estate is not the only way to immigrate to Georgia, and people can use other methods as well.
The best way to get a residence permit in Georgia
As you know, one of the most effective ways to get a residence permit in Georgia is to invest, but what is certain is that you do not have enough liquidity to use this privilege, which makes it difficult for people to immigrate to Georgia. But do not worry because instead of investing in Georgia, you can buy property in this country. For this purpose, it is enough to buy a property with a minimum price of 100 thousand dollars. Obtaining a residence permit in Georgia by purchasing a property will be issued to you automatically upon registration and you will no longer need to incur any additional costs. Of course, you should note that from the time of purchase of the property for up to 6 years, you must confirm your residence in Georgia in order to be recognized as a citizen of Georgia. It should also be noted that this method of obtaining residency will allow you to receive permanent residency for your children under 21 years of age.
Benefits of buying property in Georgia
Under a law passed by the Georgian government, all foreigners can obtain a residence permit for at least one year for more than US $100,000. Thus, by considering a property, one can hope to obtain permanent residence in this country. It should be noted that after the end of the year, it is enough to extend the residence, which of course depends on the fact that you have not sold your property. Finally, after 6 years of renewal, you will be granted citizenship of this country. In addition to this advantage, you can also have the following:
- Accommodation for spouse and childrens.
- Dollar investment.
- Increase in the price of purchased property.
- Use of the facilities provided after Georgia’s accession to the European Union.
Obtaining a residence permit in Georgia through the purchase of real estate is generally known as one of the best ways to immigrate to Georgia, which will be a good solution if there is no financial problem for people.
Investing in Georgian real estate
As you are probably aware, due to the Georgian government’s interest in foreign investment in the country, a tax-exempt law has been enacted for property applicants, which has encouraged more people to buy property. In fact, in such cases, the tax is entirely the responsibility of the seller, and it is clear that this feature will greatly help buyers to reduce the cost of buying a property in Georgia. However, buying property in this country has certain rules, which include the following:
- Having a legal age of 18 years.
- No need to have a partner to buy the property. (Which is actually an advantage).
- Know the rules of buying property in installments. (Pay $ 100,000 in installments and the rest in installments to buy expensive properties).
Prerequisites for buying property in Georgia
We strongly recommend that you familiarize yourself with the types of property in Georgia before buying a property in this country. Obtaining a residence permit in Georgia through the purchase of real estate should not rush you as any mistake can lead to the loss of your capital. It should be noted that Georgian real estate is divided into three categories: Black Frame, White Frame and Green, the definitions of each of which include the following:
Black Frame: This type of property has not yet reached the stage of wall construction and has only been framed.
White Frame: This type of property is several steps ahead of the first type, and even plumbing and electrical system have been considered for it, but it has not been completed yet.
Green Frame: This type of property is fully prepared and delivered to buyers for housing.