How to get Georgian residence by purchasing an apartment

Foreigners purchase the apartments in Georgia very often. Mainly their goal is to invest in real estate of Tbilisi and Georgia. Generally, the real estate is one of the most profitable investment instrument, which has many advantages:

• ● You may obtain the status of resident or secondary passport;
• ● Protect your funds from inflation;
• ● You may invest the funds in so-called Tax Shelters, same as the Tax haven, where the countries with low tax rates are considered;
• ● You have got apartment, where you live, spend the vacations or turn it into the income source.

In accordance with Georgian legislation, a short-term residence permit may be issued to the foreigner and his/her family members, if the foreigner owns the real estate on the territory of Georgia (except land of agriculture purpose) the cost of which exceeds the amount in GEL equal to 100 000 US Dollars. Therefore, if you purchase 75 m2 – apartment in the OLD CITY Panorama complex, you will acquire the right to become the Georgian resident for 1 year.

The temporary residence permit is issued for the first time, for at least 6 months and not more than for 1 year. It is available to prolong this term for additional 5 years.

It is important that real estate is such a rare investment instrument that makes the bank loan available quite easy. The interest rate of the mortgage loans is relatively low and also it conditions a high reliability and readiness for loan issue from the bank’s side. The share of incomes received from the real estate grows over time. If you purchase the apartment in the project being under construction, the cost of such real estate will increase at each stage of the project development. It is also important that rental fee is growing stably in the long-term period, which increases in total the profit received from the investment.

● If you purchase the real estate with mortgage loan and the amounts of income received exceed the loan payment expenses, the apartment will “cover the payments itself” and you will be released from the excessive costs.

You may use the financial formula ROI in order to calculate easily and in advance the profit received from the investment.

There are many positive aspects of the investment in the real estate, which will be doing a lot benefits to you, one of the most important is the residence right for foreigners. So, it is time to think over such reasonable investment that is a purchase of apartment in a new building OLD CITY PANORAMA, where you can find everything for your comfort.