Residency for real estate owners is often considered the best alternative for foreign retirees wishing to live peacefully in Georgia. Although Georgian legislation does not explicitly provide for a separate "Retirement Visa," the Short-term Residence Permit, issued based on real estate ownership, represents the ideal legal path for retirees. Georgia attracts foreign retirees with its low cost of living, safe environment, pleasant climate, and hospitable culture. The aim of this service is to assist elderly foreigners in purchasing residential property in Georgia and obtaining legal residency status based on it, allowing them to enjoy all the benefits the country offers without the need for constant visa runs or bureaucratic hurdles.
This service is complex and covers both real estate and immigration procedure services. Specialists on our platform offer assistance in the following matters:
- Real Estate Selection and Due Diligence: Finding suitable, safe, and comfortable housing for retirees, and checking its legal status (liens, mortgages) in the Public Registry.
- Drafting Purchase Agreements: Preparing a legally sound contract that protects the buyer's interests and registering the property in the Public Registry.
- Property Valuation: Determining the market value of the real estate by a certified auditor (which is necessary for residency and must exceed 100,000 USD).
- Residency Application: Preparing and submitting the full package of documents to the Public Service Hall to obtain a Short-term Residence Permit.
- Family Member Coverage: Obtaining residence permits for the retiree's spouse and other dependents.
- Annual Renewal: Managing the renewal procedures after the residence permit expires.
- Insurance and Medical Consultation: Assisting in selecting health insurance, which is particularly important for retirees.
Real-world scenarios where this service is essential are diverse. For example, a European retired couple buys an apartment in Batumi with a sea view to spend their old age in a coastal climate and needs permanent legal status. Another case: A retired US citizen buys a house in Kakheti to engage in small-scale farming or simply enjoy nature, and needs a residence permit because the tourist visa duration (1 year) is insufficient for stable long-term living. A third scenario: A foreign retiree invests in rental property in Tbilisi, receives passive income, and obtains residency based on this property, allowing them to travel freely in and out of Georgia.
From a legal perspective, this process is regulated by the "Law of Georgia on the Legal Status of Aliens and Stateless Persons." The law defines a "Short-term Residence Permit," which is issued to a foreigner who owns immovable property within the territory of Georgia (except for agricultural land) with a market value exceeding the equivalent of 100,000 USD in GEL. Also important is the "Law of Georgia on Public Registry," which regulates the registration of property rights. The residence permit is initially issued for 1 year, but it can be renewed annually if the person continues to own the property. After 10 years of legal residence, it is possible to apply for a permanent residence permit.
The process involves several stages. First, the lawyer checks the legal cleanliness of the selected real estate. Then, a purchase agreement is signed, and ownership is registered. After that, a certified appraiser prepares a report on the property's value (must be >$100,000). With these documents, a passport, and photos, the application is submitted to the Public Service Hall. It is important that the applicant has legally crossed the border. The timeframe for issuing the residence permit ranges from 10 to 30 days. After receiving the permit, the foreigner obtains a residence card, which serves as their identity document in Georgia.
Legal.ge offers access to qualified lawyers specializing in both real estate law and immigration issues. For retirees, reliability and comfort are particularly important. On our platform, you will find specialists who will not only help you obtain residency but also advise you on the risks of buying real estate and ensure your peaceful life in Georgia. Through Legal.ge, you receive guaranteed quality and professionalism, simplifying the process of settling in a new country.
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