Mr. Ilia Dehghani (Founder of GeoVest Holding) with an origin of Georgia but living in Iran, in 2006, he returns to his motherland of Georgia. In those years, Georgia had problems with internal structural changes, and then there was the war with Russia, and the number of people living in Georgia did not reach the number of fingers.
Georgia after the development of successful domestic policies and getting membership in the European Union and NATO start to facilitates and develop a new situation for attracting foreign investors. Getting a residency in Georgia by buying a property worth $35,000 is one of the most basic and important parts of migrating to Georgia in 2013.
Thousands of foreign investors from around the world welcomed the project, and the construction of various apartment projects in the cities of Tbilisi and Batumi flourished. and shifts the slump in supply and demand for Georgian real estate.
According to official statistics, Russian citizens with more than 50% investment in Georgian real estate are ranked first, followed by citizens of Turkey, Azerbaijan, Armenia, Ukraine, China, and Iranian citizens with a share of about 2% in this statistic.
The widespread welcome of foreign investors to immigrate to Georgia, especially in the Georgian real estate sector and the ease obtaining all types of residency permits in Georgia has been granted and accompanied by abuses of the convenience of the law.
Citizens of some foreign countries are rapidly obtaining Georgian residency through the purchase of the simulative real estate, simulative employee residency, simulative marriage or illegal life, and black work with a tourist visa in Georgia and it encouraged the Georgian government to tighten rules.
Eventually, more oversight took place, and with a stricter scope of licenses, the simulative residence permits were revoked and those with the simulative residence permits were either expelled from Georgia or blacklisted.
Georgia’s immigration or residency rules changed in the month of July with the purchase of the real estate in Georgia and investment in Georgia. The most important changes in the 2019 rules include increasing the minimum property purchase rate for Georgian residence from $35,000 USD to $100,000 USD or changing the minimum investment amount in Georgia for permanent residence in Georgia from 300,000 GEL to $300,000 USD.
One of the biggest benefits of Georgia’s residency law changes in July 2019 is the elimination of the simulative residency and the granting of residency to investors, real estate buyers, and real-time residents.
During this time, GeoVest Holding has organized itself by carefully studying and mastering the new rules of residence in Georgia, and after solving the legal problems of residence in Georgia, by defining the policy of obtaining residence in Georgia by investing in Georgia, the way for real estate buyers in Georgia or capital Passers-by in Georgia facilitated.
Shortly after the latest changes of immigration and investment laws in Georgia, In July 2019, GeoVest Holding will be registered with the identification number 404581001 (Limited Liability) by Mr. Ilia Dehghani in Georgia.
GeoVest Holding is born with the goal of providing honest services and mastering the legal affairs of residency in Georgia. to make the investing in Georgia or buying a property in Georgia a sweet experience for all members of the family.
According to the applicants’ need to comply with the new terms and conditions, GeoVest Holding’s policy was reorganized in 2020 to focus on investing and obtaining Georgian residency.
Expert advisory teams have been formed in various departments to assist applicants, especially in the areas of Georgian real estate, investment in Georgia, residence in Georgia, construction in Georgia, and starting a business in Georgia.