- April 29, 2017
- Posted by: CIP Journal
- Category: Golden visa
Georgia has emerged as a most popular investment destination to foreign investors after Georgia secured visa free travel to European nations in 2017. The value of Georgian passport went up in rankings.
According to Georgian law, Georgia issues residence permits given to foreign investors who invest over € 110,000 euros (GEL 300,000 lari) in businesses in Georgia. It is called “Investment residence permit” is issued to a foreign citizen who invested at least GEL 300 000 in Georgia. The permit is also issued to investors family members – spouse and children.
Investment residence permit to investors are issued for an indefinite term.
Investors can naturalise for Georgian citizenship/passport after 5 years of living in Georgia.
Georgia does not have official citizenship by investment program (CIP) but like Austria, Georgia has provisions in citizenship law to grant citizenship by exception to foreign citizens who has made an outstanding contribution to Georgia or in the national interests of the country.