Georgia Launches Citizenship by Investment Program
Georgia has introduced a new citizenship by investment program that opens up additional opportunities for foreign investors. The program was presented in Beijing and is based on Article 17.2 of the Law on Citizenship of Georgia. According to this provision, the President of the country has the right to grant citizenship in exceptional cases for special merits or significant contribution to the economy.
Conditions for obtaining citizenship
Foreign investors can apply for a Georgian passport if one of the following conditions is met:
- Business investment - investing at least 3 million euros in the country's economy with an obligation to create at least 10 jobs for Georgian citizens.
- Refundable contribution - investing 2 million euros in a state fund for a period of 5 years.
- Non-refundable contribution - a payment of 300,000 euros, but there is currently a temporary discount reducing the amount to 250,000 euros. The final date for the end of the discount has not yet been announced.
What does Georgian citizenship provide?
Obtaining Georgian citizenship provides a number of advantages:
- Visa-free entry to more than 100 countries, including the EU, Turkey and the CIS countries.
- A simplified tax regime that is attractive to entrepreneurs.
- The opportunity to conduct business in a stable economic environment focused on international investment.
- Dual citizenship, which can be retained with the permission of the Georgian authorities.
Prospects of the program
The introduction of this program strengthens Georgia's position as a center for investors wishing to obtain citizenship through significant investments in the economy. Similar schemes are successfully operating in countries such as Malta, Cyprus and Turkey. However, Georgia's program offers more affordable conditions compared to a number of European countries, which may attract investors looking for profitable options for obtaining a second citizenship.
At the moment, the Georgian authorities are actively promoting the program, holding presentations in various countries, including China. This demonstrates the country's desire to attract capital and stimulate economic development through new investments.
IT-OFFSHORE is ready to help you with the process of obtaining citizenship through investment in Georgia and other countries, providing full support at every stage and expert advice.
