Buying a property in Georgia is one of the fastest ways to obtain permanent residence for those looking to immigrate or invest in real estate.
In this guide, we will illustrate how to find a property for sale in Tbilisi, Georgia, the prices of apartments, and how to invest in real estate in this country. We will also review purchasing laws such as property, the paperwork needed to buy a property in Georgia, and how-to manage all the required procedures.
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The advantages of buying a property in Georgia
Obtaining permanent residence in Georgia
if you own an apartment in Georgia that gives you the chance to obtain the permanent residence, then you can obtain Georgian citizenship in only six years.
According to the article #26 of the Georgian Citizenship Law issued in 2014, it stipulates that any foreign citizen who owns a property valued at more than $ 35,000 (or in exchange for it in the local currency) has the right to receive an annual renewal residence (or be granted a permanent residence of five years if the property is in an investment capacity And its value is more than 300 thousand Georgian Lari)
The ownership of the property must be present in full, knowing that the conditions for ownership of the property must be completed and accordingly the owner can grant residency to the wife and children. After six years of permanent residency, he can apply for Georgian citizenship.
Better life and lower cost of living
Georgia has a charming nature, modern and safe atmosphere for citizens and foreigners. It is suitable for immigration to a better place to live, and a notable lower cost of living if compared to other cities whether in transportation, housing, utilities, and other costs of living.
So, buying a real estate in Georgia gives you the right to a nationality and enjoy all the advantages and rights of a Georgian citizen. It is expected that citizens will soon receive the Schengen, as any citizen in a country belonging to the European Union for you and your children.
Ownership Law for property in Georgia
In Georgia, real estate is sold on a freehold basis, and unlike most countries in the world, you are not required to be a citizen in order to be able to purchase property in a foreign country.
If you are looking for a property for sale in Georgia, don’t worry, you will not go through complicated procedures or crooked methods, buying the property is very easy and the purchase contract will be written in your name directly.
The same applies to commercial real estate such as shops, hotels, restaurants, etc. There are no restrictions on these purchases, this only excludes the purchase of agricultural land, as the right of foreigners to own agricultural land has been revoked since 2017.
The contract is written in the Georgian language according to the desire of the client, and translation service is available in Georgia, when can be used and the cost is only $ 5 per page, and upon Georgia law mandates that security deposits for rentals be held in escrow and that it be returned within 30 days of lease termination.
Property for sale in Tbilisi / Georgia is a good investment
Buying a real estate in Georgia is one of the best ways to get a long-term financial return, there are no restrictions whatsoever, so you can invest in Georgia with confidence.
The country is ever-evolving in the real estate investments and attracts investors with multiple facilities such as easing bank loans, laws protecting foreigners, investing, providing services, infrastructure, and building materials. This made it the ideal destination for businessmen and individuals wishing to invest.
It should also be noted that the prices of apartments in Tbilisi are constantly increasing due to the increase in international visitors to the country and their need for places to live and suitable housing units. Georgia had 5.9 million visitors in 2015, more than the original population of just 4 million.
So, it can be said that buying a property in Georgia, especially in the capital city Tbilisi, will now return the abundant profit to the buyer in the next few years.
That’s why Georgia rather than other countries is recommended for buying real estate, immigration, or even residence for investment purposes.
Real estate in Georgia is among the lowest prices compared to other countries, as the ownership price starts at 30 thousand dollars.
It is worth mentioning, that today traveling to European countries is not as easy as before, political and economic changes have forced the governments of these countries to impose severe laws on people wishing to travel or migrate to them. But in Georgia, it is still easier to obtain visa because there are more than ninety countries whose citizens are not required to obtain a visa for Georgia. Besides, Georgia is one of the cheapest and easiest countries to travel to.
Georgia was one of the countries of the Soviet Union before its collapse, although it is considered one of the developing countries, but it has abundance of natural resources and distinguished geographical location as a middle area between Asia and Europe, which make Georgia an important commercial center for its ability to transport and shipping between these countries.
The innovative and healthy economy in this country is about to create work places, economic growth, and prosperity.
Upon the above, Georgia has a promising future in all fields while living in a country like this ensures a wonderful financial future in the short and long term as well, and that buying a property in Georgia guarantees stability and living a decent life inside the state.