Georgia has become one of the most popular European destinations for investment and business, besides its tourism destination, which no one disagrees about.
Over the past years, Georgia attracted real estate investors and businessmen around the world and recorded a high demand on the experience of investment especially in the field of real estate. In a country like Georgia the areas of investment are varied, as it is fertile ground for many profitable projects, not only due to a large number of foreigners but also because it provides a wide range of choices in businesses that can be created in cities and villages of this country.
Real Estate investors’ advice when buy a property in Georgia country
Firstly, you’ll need to have money saved if are thinking seriously to buy a property in Georgia
1. Buy and Fix
After buying the property, you still need to put funds into fixing it up and sell it for a profit
Home repair needs more money other than your initial investment, and more time than you might have, it also needs strong knowledge of the property and homes upgrading.
2. Rent to own
It is a tactic where you sign a contract to rent a home for a fixed time with an available option to buy the house once it is finished.
An amount of the monthly rent goes for the down payment on a mortgage when the purchase becomes official.
Although it is risky, it is still a proper choice for those who cannot commit to buying a property, it gives people with other liabilities (credit card debt, hospital bills, etc.) time to pay those debts without the added financial burden of a monthly mortgage.
3. Buy a vacation property
This vacation property when you rent out to tenants for shorter periods, if you could buy a good property in the right area – like near the beach in summer -with the needed renovations and facilities, you may be able to make the same money off few tenants’ vacations.
Do proper research, consult with good realtors and weigh the pros and cons carefully
4. Buy Rental Property
You may buy an entire rental property and rent out any room or apartment to tenants.
Keep your expenses low so you can keep rent affordable to entice prospective tenants.
You may also buy a property to live in, while you are the landlord, and at the same time, you may rent other rooms in the property.
Make sure to keep your place in a good condition, you can hire someone who can help with repairs and renovations if needed, be always ready to receive your tenants.
Establish a company in Georgia
Georgia is making a lot of effort to attract real estate investors from all over the world, by providing advanced administrative system and its efforts to eliminate corruption. Among the advantages of real estate investment in Georgia is also its picturesque nature, which makes it a tourist destination for many travelers, which makes tourism investment in it very profitable.
All economic evidence and studies indicate that Georgia will become a leader in attracting investment in the region.
Registering a company in the state of Georgia is not a big issue and requires no trouble as it happens in other countries, due to the various facilities of the state and the Georgian government, so we will guide you through steps to know how to establish a company in Georgia.
- The first official step is to go to the Justice House to get a copy of the company’s founding contract, and this copy is divided into two parts, the first in the Georgian language and the second in the English language.
- The company incorporation contract must contain all the required data in the Georgian and English languages, the most important of which is the company address that you can obtain by renting an office or purchasing an address from a Georgian citizen.
- In case you are not good at understanding the Georgian language, you can ask for the help of a contract writing specialist.
- The establishing process starts when you go to the house of justice with a copy of the contract that contains all the correct data to go through the registration process.
- After sending the contract to the House of Justice, within 24 hours, a message will be sent to your private number informing you of the successful registration of the company.
Real Estate investment is one of the most profitable areas of investing in Georgia, especially after the increase in the number of visitors and international tourists coming to Georgia.
Georgia also has an excellent regional location between Asia and Europe, in addition to its privilege of more than 94 countries to enter with free visas, in addition to the distinction of multiple visa holders and valid residence permits from entering and staying in Georgia for 90 days per year, and this increases investment opportunities in Real estate in Georgia.
Real Estate investments in Georgia
If you are thinking of breaking into the world of real estate investment in Georgia, you should be aware of the following: –
- The Georgian government supports real estate investors through its property law, for example, providing land free of charge so that mega projects can be implemented on it.
- Georgia is also supplying the facilities, services, and infrastructure needed to start up a project. Many people who invest in real estate in Georgia will benefit from all these advantages and services, and in the end, they will make huge profits in a short period.
- Banks in Georgia are also giving out a lot of loans with various guarantees and easy, accessible methods for investors.
- Georgia is ranked fifth according to the World Bank’s index of ease of doing business with it.
- You can start a company in Georgia in just one day.
- It is possible to obtain a residence permit for you as an investor in Georgia if you invest $ 300,000 or more.