Do Georgian banks lend to foreigners?
They do, and in growing numbers: in December 2025 alone, banks issued about 220 foreign-currency mortgages and 55 lari mortgages to non-residents, according to GBC. The conditions are stricter than for Georgian borrowers with Georgian salaries. Expect a larger down payment, a shorter term in dollars or euros, and a close look at where your income comes from and in which currency. A residence permit is not required, but it helps.
The rules behind those conditions come from two places. The National Bank of Georgia sets limits for every bank: how much can be lent against a property, how much of your income repayments may take, and, since July 2026, when a loan must be in lari. Each bank then adds its own policy for foreigners. This guide explains both layers and what to prepare.
The National Bank's rules
| Rule | What it says |
|---|---|
| Solvency analysis | No loan without an analysis of the borrower's ability to repay (since 2019) |
| Loan-to-value, lari loans | Up to 90%, temporarily raised from 85% in February 2025 |
| Loan-to-value, foreign-currency loans | Up to 70% under the 2019 rules |
| Loan-to-value, income from abroad | Raised to 80% for mortgages in February 2025 |
| Payment-to-income | Repayments capped at 25% of net income below GEL 1,500 a month; the threshold rises to GEL 2,000 on 1 February 2027 and GEL 2,500 on 1 September 2027 |
| Currency of the loan | Since 1 July 2026, loans up to GEL 1,000,000 only in lari, except for borrowers who are not Georgian citizens and borrowers whose income is entirely in the loan's currency from a country where that currency is official |
The currency rule matters to foreigners in particular. The National Bank's order of 15 June 2026 exempts borrowers who are not Georgian citizens, which means a foreign buyer may be offered a loan in dollars or euros of any size if the bank's own policy allows it. A Georgian citizen, including one living abroad, can borrow below the limit in a foreign currency only if the income is entirely in that currency and comes from a country where it is the official currency; otherwise the loan will be in lari.
What banks ask of foreigners
| Condition | What to expect |
|---|---|
| Down payment | Usually 30-40%; lower with documented Georgian income |
| Term | Often up to 10 years in dollars or euros, up to 20 years in lari at some banks |
| Rates (examples) | Halyk Bank from 10.5% in lari, 7% in dollars, 5% in euros, before fees and insurance |
| Income | Stable, documented income; co-borrowers allowed at some banks |
| Age | For example 21 to 70 at the end of the term |
| Processing | From a few days to two or three weeks |
Market data give a sense of where rates stand: the average rate on new lari mortgages was 11.4% in July 2026 and on foreign-currency mortgages 7.7%, according to National Bank figures reported in September 2026. Always compare banks on the effective rate, which includes fees and insurance, not the headline rate.
To be added by the team: the owner to add the current conditions for non-residents at TBC, Bank of Georgia and Liberty Bank, taken from each bank's own published terms or written quotes to our clients.
Fixed or variable?
Many mortgage rates in Georgia follow a benchmark. Halyk Bank, for example, links its rates to the National Bank of Georgia's refinancing rate for lari loans, to six-month SOFR for dollars and to six-month EURIBOR for euros. When the benchmark moves, so does your payment. Ask each bank which benchmark applies, how often the rate is reset, and whether a fixed period is available. A loan that is affordable at today's rate should still be affordable if the benchmark rises by two or three points.
Documents to prepare
Income proof by type of borrower
| Borrower | Typical evidence |
|---|---|
| Employee abroad | Employment contract, recent payslips and the bank statements where the salary arrives |
| Self-employed or business owner abroad | Tax returns and company accounts, with bank statements |
| Pensioner | Pension statements and the account into which the pension is paid |
| Income in Georgia | Georgian payslips or Revenue Service records, which also open the way to a lower down payment |
| Rental income | Leases and the account into which rent is paid; banks often count only part of it |
Documents in a foreign language usually need a certified translation, and banks may ask for an apostille on documents issued abroad.
Costs on top of the rate
- The bank's valuation of the property.
- Insurance: life insurance of the borrower and insurance of the property are common requirements.
- Registering the mortgage in the Public Registry, charged like any registration of a right: GEL 150, 270 or 350 by speed.
- Notary and translation for the loan documents and any power of attorney.
- Early repayment terms, which differ by bank and loan type.
The effective rate a bank quotes should already include most of these; ask which ones it leaves out.
How a mortgage purchase runs
Open an account and get a pre-approval
A bank account in Georgia comes first; then ask the bank to assess your income before you choose a property.
Choose a property the bank will accept
Banks lend against registered, finished property; an off-plan flat usually needs a developer's partner programme or a later refinancing.
Valuation by the bank
The bank orders its own valuation; the loan is a percentage of the lower of price and value.
Sign the loan and the purchase together
The sale, the mortgage and the payment are usually arranged so that the seller is paid as the title passes.
Insurance and repayments
Life and property insurance are commonly required; repayments start the following month.
Mortgage, instalments or cash?
For a resale flat, a bank mortgage is often the only way to borrow. For a new build, the developer's own instalment plan competes with the bank, and it is easier to obtain because it does not go through the National Bank's limits. That ease is also its weakness: no payment-to-income test, no duty to show an effective rate. Compare both on the total cost, and remember that a bank mortgage on a finished flat buys a registered property, while an instalment plan buys a contract for a flat that does not exist yet. Our guide to developer instalment plans covers the other side of that choice.
Refinancing a developer plan with a bank
Some developer plans end with a balance that the buyer refinances with a bank at handover. That bank loan is assessed under the rules in force at that time, not when you signed with the developer. The payment-to-income threshold, for example, is set to rise in February and September 2027. If your plan depends on a refinancing two or three years away, ask a bank now how it would assess you, and keep a plan for paying the balance if the answer later is no.
Mortgages and the residence permit
A flat bought with a mortgage still supports a residence permit if it is registered in your name and valued above $150,000; the bank's mortgage on it does not change that. The value is the property's market value, not your equity in it. Bear in mind that a bank's mortgage is an encumbrance on the extract, so the sale later needs the loan to be repaid or transferred.
Risks and exceptions
- A currency mismatch. A loan in one currency repaid from income in another carries exchange risk for years.
- Choosing the flat before the bank. A property the bank will not accept leaves a deposit at risk.
- Comparing headline rates. The effective rate shows the real cost.
- Variable rates. Many loans follow a benchmark; ask how the rate can change.
Frequently asked questions
Do I need a residence permit to get a mortgage?
No. Banks lend to non-residents; a permit can help, but income and its documentation matter most.
How much down payment will I need?
Usually 30-40% as a non-resident, less with Georgian income; the National Bank's loan-to-value limits set the ceiling.
Can I borrow in dollars or euros?
If the bank agrees, yes: the lari requirement for loans of up to GEL 1,000,000 does not cover borrowers who are not Georgian citizens.
Can I get a mortgage on a flat under construction?
Usually not directly; banks lend against registered property. Some developers have partner banks that finance at handover.
Can I repay early?
Usually yes; check the early-repayment terms in the loan agreement, which differ by bank and loan type.
Can my partner be a co-borrower?
Many banks allow co-borrowers, such as a spouse or a family member, whose income is added to yours.
Can I apply from abroad?
Much of the process can be done remotely, but a bank account and a signing in Georgia, in person or by power of attorney, are needed.
Sources
- Regulation on responsible lending to natural persons, National Bank of Georgia (accessed 14 October 2026)
- Financial Stability Committee decision, 26 February 2025, National Bank of Georgia (accessed 14 October 2026)
- Georgia to tighten lending rules from February 2027, Georgia Today, 30 September 2026 (accessed 14 October 2026)
- Georgia mandates national currency for all loans up to GEL 1 million, 1TV, 1 July 2026 (accessed 14 October 2026)
- Mortgage issuances to non-residents have increased, GBC, 6 February 2026 (accessed 14 October 2026)
- Getting a mortgage in Georgia: conditions and documents, PB Services, 15 September 2026 (accessed 14 October 2026)
- Mortgages for people working abroad, Halyk Bank Georgia (accessed 14 October 2026)
- Mortgage lending in Georgia increased by nearly 50%, International Investment, 8 September 2026 (accessed 14 October 2026)
Change log
- - Guide published from National Bank of Georgia rules, 2026 lending data, PB Services and Halyk Bank product terms.