Georgia offers many benefits to investors seeking residency in the country. Georgia is a strategic location for businesses, with its proximity to Europe, Asia, and the Middle East. The country also has a well-educated workforce and a business-friendly environment. In addition, Georgia offers investors a number of tax incentives, including a flat corporate tax rate of 15%. These factors make Georgia an attractive option for investors looking to establish residency in a country that offers numerous advantages. Applicants who want to start a company in Georgia do not need to visit the country; utilizing power of attorney, local agents in Georgia will be able to handle all the paperwork and bureaucratic processes, as well as make the appropriate submission for applying for temporary residency.
According to the Georgia Law on Promotion and Guarantees of Investment Activity, foreigners who invest at least USD 300,000 in specified sectors of the Georgian economy are granted permanent residency.
According to new laws that went into effect on July 2, 2019, there are two alternatives for getting a Georgia Investment Residence Permit (Permanent Residence permit):
Georgia grants candidates temporary residency if they either register a company in Georgia or have a minimum six-month employment contract with a Georgian company.
According to new legislation that went into effect on July 5th, 2019, enterprises formed by foreigners must now have a minimum annual revenue of GEL 50,000 (about USD 20,000) in order to be eligible for temporary residency. Applicants working in Georgian enterprises may also apply for temporary residency if certain prerequisites are completed. Georgian temporary resident permits are valid for six months to six years. Typically, the initial issue is for 6 months or a year. After receiving their Georgian Residence Card, the applicant's spouse and children are also eligible for a TRP.
If specific conditions are met, foreign applicants who invest in non-agricultural real estate in Georgia are eligible for a residence permit.
The minimum price threshold for real estate raised to USD 100,000 under new legislation that went into effect on July 5th, 2019. (instead of the USD 35,000 it was previously). Georgian temporary resident permits are valid for six months to six years. Typically, the initial issue is for 6 months or a year.
According to the SovSpot Passport Ranking Index, the Georgian passport is currently ranked 51st. It allows entrance to 119 countries without requiring a visa. Overall, it has a medium-low mobility score. Visa-free travel and visa-on-arrival are available to Georgian passport holders in countries such as Brazil, Thailand, Israel, and the entire European Union. Georgian citizens require a visa to visit approximately 110 countries around the world. The United States, China, and Japan are among the countries that require a visa ahead of time.
The number of countries Georgia passport holders can enter without a visa (i.e. visa-free countries) and those Georgia passport holders can enter by obtaining a visa on arrival (i.e. visa-on-arrival countries) or an electronic travel authorization is added up to determine the Georgia passport ranking relative to other global passports (eTA). There are now 78 visa-free countries for Georgia passport holders, 40 visa-on-arrival countries for Georgia passport holders, and 1 eTA destination. In total, Georgia passport holders can visit 119 countries without a visa, via a visa on arrival, or via an eTA. As a result, Georgia's passport is currently ranked 51st in the world. Apart from the visa-free and visa-on-arrival countries, Georgia passport holders must get a physical visa or an eVisa to visit 110 other countries (i.e. visa required countries).
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