In recent years we are seeing a new wave of migration to Georgia. There are many people, especially from Iran, who are trying to get Georgian residence in any way they can. One of the most important reasons for this remarkable welcome is the strategic position of Georgia. As you know, Georgia has been a member of the European Union and NATO observer group for several years, that has doubled the likelihood of the country joining the European Union and that’s why immigration to Georgia has been welcomed.The best and easiest way to get a residence in Georgia right now is to buy a property. If you are able to invest in the real estate sector, joining the European Union will allow you to travel to the Schengen countries without a visa.In addition, you are very likely to profit by investing in the Georgian real estate sector. Given the rise in dollar prices worldwide, especially in Iran, if you buy a property in Georgia within a year, even if your property does not rise in price, you will see your own capital increase as the dollar rises.Another advantage of buying a property in Georgia, especially in Tbilisi, is the number of tourists visiting the city. If you manage to buy a real estate in Georgia, you can make good money by renting it to tourists in the city.
New rules for obtaining a Georgian residence permit
This article is going to introduce you to the new Georgian Residence Law by buying property. There are many changes in the path of obtaining residence in Georgia every year, which make it more difficult to immigrate to Georgia; as since the beginning of 2019 the laws on obtaining residence in Georgia, especially in the field of investment in the real estate sector, have undergone major changes.Under the new Law on Investing in Residential Property in Georgia, you must buy a property worth at least $ 100,000, you can then stay in Georgia for many years by renewing your residence permit. Note that the minimum age for buying a property in Georgia is 18 years.Once you have purchased residential, office or commercial property in Georgia for the listed value, you must apply for a temporary residence permit after you have transferred the document to yourself. Temporary residence will be issued for you and your family after reviewing the application and proof of non-background.If you want to sell your property, you should go to the Registry and, after the legal process, the Registry must notify the other relevant agencies within two weeks. Keep in mind that you do not need to pay taxes until the property is sold.The point is that you can buy land in Georgia as well. If you buy land worth $ 100,000, you can get a temporary residence permit in Georgia. But this is not the case with agricultural land acquisition. By law, ownership of agricultural land does not belong to a foreign person.You can also buy property in Georgia in installments. In some construction projects, the project leader by receiving an advance payment from the buyer, transfers the document in the buyer’s name so that the person’s temporary residence status in Georgia will be approved.You can also buy a property in Georgia in partnership and get temporary residency. In the purchase of a property as a partnership, your percentage of partnership should be at least $ 100,000.In this article we have introduced you to the rules of obtaining a Georgian residence by buying property. As noted above, new laws adopted in early 2019 changed the conditions for obtaining a residence permit in Georgia. If you are one of those who are planning to immigrate to Georgia, it’s better to invest at least $ 100,000 for buying a home to guarantee a temporary stay in Georgia. It is good to know that if this minimum amount changes next year, according to Georgian law, the first $ 100,000 you first received would be the extension of your subsequent stay. If you are looking to buy a property in Georgia, there are a variety of properties that you can buy depending on your capital: 1. Black Frame Properties: These are properties that only their skeleton have been made and have not yet reached the internal dividing and walling stages.2. White Form Properties: As its name implies, there are properties that have reached the plastering stage, and walls have been completed, but have not yet reached the stage of installing cabinets and flooring.3. Green Properties: These are properties that are ready to live in any way and only you have to furnish them to your taste.
Property prices in Georgia
With a little research on different regions of Georgia you will notice that in Georgia unlike Iranian cities there are no high or low regions and you will not see much difference in real estate prices.In the Eastern Region of Tbilisi there are some areas such as Vazisubani, Isani, Varktili where white property prices are US $ 450- $ 750 per square meter. In the city center of Tbilisi, there are some areas such as Ortachala, Azadi Square and Rustaveli where property prices range from US $ 800 to US $ 1,300 per square meter. In Tbilisi, areas like Vake and Beijing are more popular with Iranians. Property prices in this areas range from US $ 900 to US $ 1,500 per square meter. When buying a property in Georgia, consider the following:1. The building is either old or new2. How far is your property from public vehicles?3. How much is the progress of your area of residence as well as your city in the near future.Paying attention to the above will help you to successfully buy a property in Georgia.
