Georgia

Georgia is situated in South Caucasus, as a crossroad of Eastern Europe and Western Asia by the Black Sea. Strategically located at the crossroads of trade and commerce between East and West, Georgia is ideally positioned to access markets of Asia and the Middle East, as well as Europe and the CIS countries.

Cost of Living

Business Perspectives

Georgia’s current advantages in terms of handling large transshipment flows, business stability, low cost of power generation and existing raw materials/intermediate products provide opportunities for large industrial bets.

 

With abundance of high mountains and fast-flowing rivers, Georgia has competitive advantage over neighbors in terms of generation of electric energy. There is huge untapped potential, mostly from hydro resources, but also from wind, solar, geothermal and biomass sources as well.

 

Georgia’s natural resources and various micro-climatic zones are perfect for producing a wide range of grains, vegetables, fruits, etc. The country was renowned as a quality food supplier during the Soviet times and the Georgian food & beverage products are still well-recognized as healthy and supreme quality brands in CIS region.

 
Real Estate and Hospitality are one of the fastest growing sectors of Georgian Economy. Over the recent years Georgia has seen a dynamic growth of international visitors, in 2016 the number of international visitors reached 6.2 million while the population of Georgia is 3.7 million people.

Residency in Georgia

 
Residence permit is the most common way to have the legal right to enter and stay in Georgia. Residence Permit also authorizes a holder to invite another foreigner to Georgia. Residence permit may be temporary or permanent.
 
Types of residence permits in Georgia are following:
 
  • Work residence permit is issued to persons coming to Georgia for entrepreneurial or labor activities as well as to freelancers;
  • Study residence permit is issued to persons coming to Georgia to study at authorized educational institutions;
  • Residence permit for family reunification is issued to family members of a foreigner holding a residence permit and/or person who has been granted a status of stateless person in Georgia. Family members include: a spouse, child, and a parent, also an underage or incapacitated person being fully dependent and/or being under their care (guardianship);
  • Residence permit of a stateless person is issued to a person whose status of stateless person has been established in Georgia;
  • Special residence permit is issued to a foreign citizen who, based on a reasonable doubt, might be a victim of human trafficking.Such instances are specified in the Law of Georgia on Combating human trafficking. A special residence permit is also issued to a foreign citizen who has written endorsement from a member of the government of Georgia, asking to issue a temporary residence permit to the person. it can also be issued to a foreigner subject to expulsion, after 5 years since he/ she was granted the right of temporary stay, and to the citizen of foreign country who has a status of Compatriot residing abroad;
  • Temporary residence permit is issued to a foreigner, who according to the Law of Georgia on elimination of domestic Violence, Protection of and Support to its Victims, has been recognized as a victim of domestic violence;
  • 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 USD 35 000 equivalent in Gel.
  • Investment permanent residence permit is issued to a foreign citizen who invested at least Gel 300 000 in Georgia. This provision is prescribed in the Law of Georgia on Promotion and Guarantees of investment. in such cases, residence permits are also issued to the investor’s family members, which include a spouse, underage dependent and/or fully dependent incapacitated person;
A foreigner legally staying in Georgia and having any of the above-listed residence permits, has the right to receive the other type of residence permit in case he/she meets the requirements set for receiving the latter.
 
For obtaining residency, one shall be submit together with application and identify document, proof of qualification for any of the above-mentioned grounds like audit report on value of property or investment, employment or corporate documents etc. The foreigners who possess residence permit have right to bring family members to Georgia and obtain residence permit for them. Permanent residence permit for foreigners can be obtained by investing at least 300 000 GEL in Georgia. Investor’s family members also receive permanent residence permit.
 
To make it simple. Temporary residency may be obtained through:
 
  • Purchasing immovable property with minimum value of USD 35, 000; or
  • Employment or holding shares in Georgian enterprises;

Permanent residency may be obtained through:

  • Making investment with minimum value of GEL 300 000;or
  • Holding temporary residency for at least 6 years;

Capital

Tbilisi

Population

3,718,200

GDP (PPP)

37.17 Billion

Area

69,700 km2

(26,900 sq mi)

Currency

Georgia Lari (₾) (GEL)

Time Zone

GET (UTC+4)

Ethnic Groups

86.8% Georgians
6.2% Azerbaijanis
4.5% Armenians
2.8% other


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