Residence Permit in Georgia Updated Guide How to get residence permit in Georgia Immediately

For Business Consultation Service In Georgia visit our website: https://nomadentrepreneur.io/ If you have any inquiry regarding living in Georgia or doing business Email us: NomadEntrepreneur@usa.com Residence permit in Georgia updated guide and tips the complete guide of residence permit in Georgia 💪 how to get a residence permit in Georgia? 2019 - How to apply for a residence permit in Georgia The complete guide of residence permit in Georgia How to get a residence permit in Georgia Similar conditions to apply for a self-employed freelance who can obtain a work residence permit in Georgia 2019 - From July 1st it's going to be harder for foreigners to get investment residence permit in Georgia. Permanent residence permit in Georgia From July 1st it’s going to be harder for foreigners to get investment residence permit in Georgia. From this exact day presidents new ordinance goes into force. According to the current law, a person can be granted the right of residence if they make an investment or buy real estate of not less than 300 000 GEL The draft law increases the amount of an initial investment to $300 000 equivalent in GEL. Changes in Residence Permit Validity Here is a good news for Non-Residents, validity period of the Permit increases from 3 to 5 years. Changes in Permanent Residence Permit Requirements Granted Based on Business Investment Holder of Investment residence permit is obligated submit annual accounting reports to Revenue House of Georgia. Permanent Residence Permit Can be granted to alien, who was already holding investment residence permit for past 5 years and can prove the following : 1st Year Turnover is less than 50 000 USD equivalent to GEL. 2st Year Turnovers is less than 100 000 USD equivalent to GEL. 3nd t Year Turnovers is less than 120 000 USD equivalent to GEL On the other hand, In case your company does not reach these threshold your Investment Residence Permit may be Terminated. Granted Based on Real Estate Investment This type or residence permit can be granted to non-residents investing not less than 300 000 USD in Real Estate in Georgia. Residence Permit holders must stay in ownership of the property during the validity of the Permit to be eligible for permanent residency. After five years of holding such residency you become eligible for permanent residency. Key Fact About Business Immigration in Georgia Citizens of 95 countries can arrive and stay in Georgia for up to a year without a visa. A person is perceived as an immigrant if they stay in Georgia for 183 days in the last 12 months and have spent 183 days in other countries in previous 12 months. From those nationalities who buy real estate in Georgia, 53% of them are Russians and they occupy the first place. Then come citizens from the Ukraine, Armenia, Azerbaijan, and Israel. Between 2014 and 2018 70,508 foreigners were granted a right of residence. Citizens of Azerbaijan occupy the first place among them who received the right of residence. Then come Russia, Turkey, Armenia, Ukraine, India, China and Iran. The majority of labour residence permits are mostly granted to the citizens of Turkey, India, China, Ukraine, and Iran. Permanent residence rights are granted mostly to the citizens of Azerbaijan, Russia, Armenia, Ukraine, and Turkey. Educational residence permits are mostly granted to the citizens of India, Iraq, Nigeria, Azerbaijan, and Turkey. Due to family reunification residence rights are mostly granted to the citizens of Azerbaijan, Russia, Armenia, Ukraine, and Turkey. Between 2014 and 2018 only 9,408 applications were rejected. This equated to 12% of the total number of applications. ne of the initiators of the draft law and a lawmaker Ilia Tsulaia says that it was conceived following an incident when it was discovered that one flat was being used by 10 or 15 foreign families to try and get permanent residence rights- by cheating of course. A foreigner would by a flat and receive residence rights, then they would re-register it to the other family and they would receive the right of residence as well and for as long. So the idea of a draft law is to avoid such accidents and deter foreigners from cheating the State. He says that if one buys real estate and they re-register it to someone else, they will lose their right of residence automatically. Soso Archvadze, another initiator of the draft law emphasizes that a state should protect the rights of its citizens and entrepreneurs and this should not be perceived as a xenophobic act, but as an action to protect interests the State’s market -~-~~-~~~-~~-~- Please watch: "The cost of living in the country of Georgia | Is it expensive to live in Georgia? must know info" /watch/osom79IjaH0jm -~-~~-~~~-~~-~-

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