Georgia is an open and liberal market for foreign investors, where real estate purchase procedures are simple, transparent, and fast. Apart from agricultural land, foreign citizens have the full right to purchase any type of real estate: apartments, commercial spaces, non-agricultural land plots, and hotel complexes. Purchasing property is not only a good investment but can also serve as a basis for obtaining a residence permit (if the property value exceeds 100,000 USD). However, despite the simplicity, the transaction requires proper legal execution to protect the buyer's interests, especially when dealing with under-construction apartments or remote purchases.
This service covers full legal support for real estate purchase transactions. The service includes: drafting the sales agreement (bilingual, in a language understandable to the buyer); negotiating with developers and adjusting their standard contracts in the buyer's favor; registering the transaction in the Public Registry; utilizing secure payment mechanisms (e.g., escrow accounts); and in case of remote purchase, representation via power of attorney. Lawyers also ensure property valuation through auditors to determine its real market value for residence permit purposes.
In real life, this service is needed by both expats and remote investors. For example, a European investor wants to buy an apartment in Batumi for rental purposes. They need a guarantee that the developer truly owns the land and the building permit is in order. A second scenario: a foreigner buys an apartment on the "secondary market" from an individual. Here, risks are high (mortgages, liens, claims from the owner's family members), and lawyer involvement ensures the transfer of a "clean" title. A third case: an investor buys a commercial space in Tbilisi to open a restaurant – here it is important to check not only ownership but also utility connections and commissioning issues.
The process is regulated by the "Civil Code of Georgia" and the "Law on Public Registry." To purchase property, a foreigner needs only a valid passport. The sales agreement is concluded in writing and registered in the Public Registry. Ownership rights arise only from the moment of registration in the Registry, not from the moment of payment or signing the contract. To obtain a residence permit, a certified appraiser's conclusion stating that the property value exceeds the statutory minimum is required.
The process begins with selecting the object and its legal audit. Then, a preliminary or main sales agreement is prepared. Signing takes place at the Public Service Hall or a notary. If the buyer does not speak Georgian, the participation of an interpreter is mandatory. After submitting documents, within 1-4 days, the buyer receives an extract listing them as the owner. Following this, a residence permit can be requested.
Legal.ge is your trusted partner in real estate investments. Experienced lawyers collaborate with us to protect your interests in dealings with developers and private sellers. Simplify the buying process and ensure the security of your investment through Legal.ge.
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