What is the investment residence permit?
The investment residence permit is the larger of Georgia's two property-related permits. The Law on the Legal Status of Aliens and Stateless Persons, in its Article 15(h), gives it to a foreigner, and to family members, who either made an investment in Georgia of at least $300,000 in its lari equivalent, under the Law on Investment Activity Promotion and Guarantees, or own non-agricultural property in Georgia with a market value exceeding $300,000 in its lari equivalent, as established by a certified assessor of an accredited body. Under Article 16(1)(e) it is issued for five years.
Five years instead of one is the headline, but the real differences are in what the holder has to keep doing during those years and what can follow them. An investor who chose the business route reports turnover every year. An owner who chose the property route keeps the property, or replaces it with one of the same or higher value. Both can then apply for a residence permit without a time limit. This guide goes through the two routes, the documents, the yearly duties and the step after five years.
Investment or property: how do the two routes compare?
| Point | Investment route | Property route |
|---|---|---|
| What qualifies | An investment of at least $300,000 equivalent in lari, within the meaning of the Law on Investment Activity Promotion and Guarantees | Non-agricultural property in your name with a market value above $300,000 equivalent in lari |
| Main evidence | An audit report by a certified auditor confirming the investment | The title document and a valuation by an accredited assessor |
| Term | Five years | Five years |
| Duty during the term | Each year, before that year of validity ends, file Revenue Service information on annual turnover | Keep ownership of the property, or of a replacement of the same or higher value |
| What ends it early | Missing or insufficient turnover proof (Article 21(12)) | Losing ownership without a replacement registered first (Article 21(13)) |
| After five years | Permit without a time limit if fifth-year turnover is at least $120,000 | Permit without a time limit with a registry certificate of five years' ownership |
For most buyers who come to this site, the property route is the relevant one: it asks nothing of you beyond holding a property worth more than $300,000. The investment route suits an entrepreneur who is building a business in Georgia anyway and expects its turnover to grow to the levels the law sets.
How does it compare with the $150,000 permit?
| Point | Short-term permit, property above $150,000 | Investment permit, property above $300,000 |
|---|---|---|
| Term | One year, extended a year at a time | Five years |
| Family covered | Spouse and child or children | Spouse, minor child, fully dependent persons as listed in Article 15(h) |
| Selling and buying another property | The permit ends with ownership; no replacement rule | Replacement of the same or higher value keeps the permit if registered first |
| What can follow | Further one-year extensions | A permit without a time limit after five years |
| Written reference on the agency's list | No | Yes, see below |
| Agency fee | GEL 300, 450 or 600 | GEL 300, 450 or 600 |
The two permits are separate grounds, not steps on one ladder. An owner whose property is worth more than $300,000 can choose either; an owner just above $150,000 has only the short-term permit. Our guide to the $150,000 threshold explains how value is measured, and the same rules of valuation apply at $300,000.
A worked example: does this property reach $300,000?
An accredited assessor values a house with its non-agricultural plot at GEL 800,000. At the 5 August 2026 official rate of 2.624 lari per dollar, that is about $304,878, above the line by roughly 1.6%. The threshold at that rate is GEL 787,200. At a rate of 2.70, used here only as an illustration, the same GEL 800,000 would be about $296,296, below the line. As with the smaller permit, a value that clears $300,000 by a percent or two depends on the exchange rate on the day, and a comfortable margin is the safer plan.
Which documents does the agency ask for?
The agency publishes one list for the investor, covering both routes, and a second list for family members. For the investor it names: the application form; a copy of the travel document; a copy of the document showing lawful stay in Georgia; for the investment route, a document evidencing an investment of at least $300,000 in Georgia, in the form of an audit report by a certified auditor, or, for the property route, the document of title to non-agricultural property with a market value above $300,000; a market value report on the property, prepared by a certified assessor whose body is accredited by the Unified National Body of Accreditation; a written reference given by a member of the Government of Georgia or by three citizens of Georgia with authority to represent a Georgia-based business entity; a colour photo, 3 by 4, in electronic form; and proof that the fee is paid.
The written reference is the item buyers ask about most. The list does not describe its form or content beyond who may give it. How it is obtained in practice, and whether it is required for an owner applying on the property route, are questions our partner lawyer is confirming.
To be added by the team: the partner lawyer to confirm how the written reference is obtained, whether it applies to the property route, and what an audit report for the investment route must contain.
Family members file their own applications with the form, a copy of their travel document, a copy of the document showing their lawful stay, a copy of the investor's residence permit, proof of kinship, a photo and the fee. Documents issued abroad follow the general rules: an apostille or legalisation, then a certified Georgian translation, as set out in our documents checklist.
How do you get it, step by step?
Choose the route
Property above $300,000 in your name, or an investment of at least $300,000 in Georgia. The rest of the process depends on this choice.
Complete the purchase or the investment
For property, the ownership must be registered in the Public Registry. For an investment, it must be made in a form the Law on Investment Activity Promotion and Guarantees recognises.
Get the evidence
A valuation by an accredited assessor showing a market value above $300,000 for the property route; an audit report by a certified auditor for the investment route.
Obtain the written reference
From a member of the Government or three citizens of Georgia authorised to represent a Georgia-based business, as the agency's list states.
File with the agency
At a Public Service Hall or agency office in person, via a representative, or online with a live video contact. Apply at least 40 calendar days before your lawful stay ends.
Keep the conditions for five years
On the investment route, file the turnover information every year before that year of validity ends. On the property route, keep the property, or register a replacement of the same or higher value before the old ownership ends.
Apply for the permit without a time limit
Before the five-year permit expires, apply with the fifth-year turnover information or the registry certificate of five years' ownership.
What turnover does the investment route require?
| Year of entrepreneurial activity in Georgia | Turnover of at least |
|---|---|
| First year | $50,000 equivalent in lari |
| Second year | $100,000 equivalent in lari |
| Third, fourth and fifth years | $120,000 equivalent in lari each year |
The information comes from the Revenue Service and is filed with the agency every year, before the end of that year of the permit's validity. If it is not filed, or if it does not show the turnover in the table, Article 21(12) ends the permit. The same figures are the condition for the permit without a time limit, with the fifth-year turnover of at least $120,000 as the proof filed at the end of the term.
What happens after five years?
Article 15(k) creates a residence permit without a time limit for holders of the investment permit who kept its conditions. On the investment route, the condition is the turnover in the table, with the fifth year proved when you apply. On the property route, the condition is that you kept the property right, to the original property or a replacement, for five years after receiving the investment permit, proved by a certificate from the National Agency of Public Registry. Article 16(5) asks for the application before the five-year permit expires. The law issues this permit, like the permanent residence permit, with the right of permanent living, and it covers the same family members as Article 15(h).
Risks and exceptions
- Selling before the replacement is registered. Article 21(13) protects the permit only if the extract for a property of the same or higher value is filed before the old ownership ends.
- Missing a turnover report. On the investment route, one missed or short year ends the permit under Article 21(12).
- A value close to $300,000. The exchange rate can move a borderline valuation either side of the line.
- The written reference. It is on the agency's list; plan for it before you count on this route.
- Applying late for the unlimited permit. The application belongs before the five-year permit expires.
Frequently asked questions
Does the investment permit allow me to work?
The sources we use list holders of investment residence permits among those exempt from the right-to-work permit introduced on 1 March 2026. Confirm your case with a lawyer before you start paid work.
Can I hold the investment permit and the short-term permit at once?
They are alternative grounds for living in Georgia. An owner above $300,000 chooses the one that suits them; there is no reason to hold both.
Is the investment permit the same as citizenship?
No. It is a residence permit. Citizenship has its own law and conditions, including a long period of lawful residence.
Can a bank deposit count as the investment?
The law refers to an investment under the Law on Investment Activity Promotion and Guarantees and the agency asks for an audit report. Whether a particular placement of money qualifies is a question for the lawyer and the auditor.
What does the fee cover for a family?
Each application, the investor's and each family member's, carries its own agency fee of GEL 300, 450 or 600.
Do I need a new valuation every year?
The yearly duty on the property route is to keep the property. A valuation is needed for the first application and for a replacement property, which must be of the same or higher value.
Family members on this permit are covered in family members and the residence permit. Market prices and yields for a purchase of this size are in our guide to investing in Georgian real estate.
Sources
- Law of Georgia on the Legal Status of Aliens and Stateless Persons (Articles 15(h), 15(k), 16 and 21), consolidated 25 June 2026, Legislative Herald of Georgia (accessed 12 October 2026)
- Migration and residence permits: investment residence permit and residence permit for indefinite stay, Public Service Development Agency (accessed 12 October 2026)
- Government Resolution No 520 on the procedures for residence permits, consolidated 26 August 2026, Legislative Herald of Georgia (accessed 12 October 2026)
- Lari strengthens in July too, GBC, 4 August 2026, citing official rates of the National Bank of Georgia (accessed 12 October 2026)
- Georgia introduces mandatory work permits for foreign workers, Andersen in Georgia (accessed 11 October 2026)
Change log
- - Guide published from Articles 15, 16 and 21 of the law and the agency's investment permit lists; being reviewed by the partner lawyer.