Investment residence permit: five years of residence on one of two statutory grounds
An investment residence permit (საინვესტიციო ბინადრობის ნებართვა) is a five-year Georgian residence permit for a foreigner, and listed family members, who either invested at least USD 300,000 in Georgia or owns non-agricultural real property whose market value, set by a certified valuer of an accredited body, exceeds USD 300,000, both in their lari equivalent.
It is created by Article 15(თ) of the Aliens Law (Law on the Legal Status of Aliens and Stateless Persons). The official Georgian text letters subparagraphs in the Georgian alphabet, so the letters differ from the English translation: 15(თ) appears there as 15(h), and the indefinite permit of 15(ლ) as 15(k). This entry uses the Georgian lettering. Article 16(1)(ე) sets the term: the permit "შეიძლება გაიცეს 5 წლის ვადით", may be issued for five years.
Abroad, a "golden visa" often means a stand-alone programme. In Georgia this is one subparagraph of the general aliens statute, granted by the Public Service Development Agency like any other permit. It is not a visa, it does not lead to citizenship by itself, and its word "investment" comes from a separate 1996 law.
What the 1996 Investment Law counts as an "investment"
Article 15(თ) points to the Investment Law of 12 November 1996 (საინვესტიციო საქმიანობის ხელშეწყობისა და გარანტიების შესახებ). Its Article 1(1) treats as an investment any property or intellectual value or right placed and used to earn possible profit in entrepreneurial activity carried on in Georgia. Article 1(2) gives examples: money, shares and other securities; land, buildings and equipment; rights to use land or natural resources, including concessions; and patents, licences and know-how. Article 2(2) counts a foreign citizen and a company registered abroad as a "foreign investor".
Because the definition is tied to entrepreneurial activity, the Aliens Law later measures the investor by business turnover. The property route needs no business, only ownership. Two points stay open: which act sets the content of the certified auditor's report the agency asks for (Resolution No 520 of 2014 is online only in its original text), and whether a property purchase can be presented on the investment route. Both are questions for a lawyer.
"Not less than", "exceeds" and "of a value of": the threshold in the statute
The two routes in Article 15(თ) use different comparatives. The investment must be "არანაკლებ" (not less than) USD 300,000; the property's market value must be one that "აღემატება" (exceeds) it. An investment of exactly USD 300,000 qualifies; a property valued at exactly USD 300,000 does not. Hence "more than USD 300,000" on this site, as with "more than $150,000".
| Provision | Georgian wording | Meaning |
|---|---|---|
| Art. 15(თ), entry condition | აღემატება 300 000 აშშ დოლარის ლარში ეკვივალენტს | Exceeds |
| Art. 15(ლ), indefinite permit | 300 000 აშშ დოლარის ლარში ეკვივალენტზე მეტი ღირებულების | Of more than that value |
| Arts. 16(1)(ე), 16(5), 21(1-3) | 300 000 აშშ დოლარის ლარში ეკვივალენტის ღირებულების | Of a value of |
Article 15(თ) creates the permit, so its "exceeds" governs the application; how the agency reads the other provisions is a question for a lawyer. The figure dates from Law No 4741 of 30 May 2019, which replaced GEL 300,000 with USD 300,000 and made the permit a five-year one. The 2025 reform (Law 863) left it untouched. Dated changes are in our residency rules tracker.
Whom the permit covers, and work without a separate permission
The last sentence of Article 15(თ) names four kinds of family member: the spouse; a minor child; a fully maintained person who receives support or is unable to work; and a fully maintained person recognised as legally incapable under the law of the relevant country. The short-term property permit of Article 15(კ) reaches only the spouse and children.
The larger practical difference is work. The Law on Labour Migration does not apply to a foreigner who "არის მოქმედი საინვესტიციო ბინადრობის ნებართვის მქონე პირი", who holds a valid investment residence permit (Art. 1(4)(ვ)), and Government Resolution No 70 of 20 February 2026 repeats this in Article 1(3)(ვ) of its rules. So no work permit is needed; the short-term property permit is not on the list.
| Question | Answer |
|---|---|
| Entry to Georgia | Visa-free for the whole validity (Art. 10(4)) |
| Residence card | To be collected within 1 month of the permit (Art. 20(2)) |
| Work or business | No right to labour activity needed while valid |
| After termination | Exemption ends; unauthorised work fined GEL 2,000 |
The word "მოქმედი" (valid) matters: if the permit ends under Article 21(1-2) or 21(1-3), the exemption ends too, and unauthorised work is also a ground to end a stay (Aliens Law Art. 21(1)(ო)). Whether family members on the same permit share the exemption, as the wording suggests, is for a lawyer to confirm.
No extension: how the permit ends or turns into an indefinite one
Article 16(3) allows temporary permits to be extended up to 12 years but excludes the spouse-of-citizen, investment and IT permits of 16(1)(დ-1), (ე) and (თ). The other two have their own extension rules (16(1)(დ-1) and 16(3-1)); the investment permit has none, and the follow-on is the უვადო ბინადრობის ნებართვა of Article 15(ლ), a permit without a time limit.
| Event | Provision | Effect |
|---|---|---|
| Turnover information missing or short | Art. 21(1-2) | Permit ends |
| Ownership ends with no replacement filed first | Art. 21(1-3) | Permit ends |
| Replacement of the same or higher value filed first | Art. 21(1-3) | Permit continues |
| Indefinite permit applied for in time | Arts. 16(5), 16(6) | Permit kept until the agency decides |
On the property route, Article 16(5) asks for a registry certificate of ownership "ჯამურად 5 წლის განმავლობაში", for five years in total. Article 16(1)(ზ) issues the indefinite permit with the right of permanent living. We could not confirm what happens to a holder who does not qualify after five years. Our guide to permanent residence compares the indefinite and permanent permits.
How the term looks on cards, extracts and listings
- Agency wording. The Public Service Development Agency's English page says "Investment Residence Permit" and "Residence Permit for Indefinite Stay"; its document list for the latter asks for a copy of the "investment residence card". We could not confirm the exact text printed on the card.
- Property route. A registry extract showing owner, cadastral code and non-agricultural purpose, plus a valuation report stating the market value in GEL.
- Investment route. A certified auditor's report on the USD 300,000, then yearly turnover information from the Revenue Service, whose formal title we could not confirm.
- Listings. An asking price above USD 300,000 proves nothing; the permit follows the accredited valuation.
Worked example: what each route asks over five years
Investment route. The yearly floors are USD 50,000, 100,000, 120,000, 120,000 and 120,000, so, by our sum, a holder needs USD 510,000 of turnover across the term on top of the USD 300,000 invested, with fifth-year turnover of at least USD 120,000 filed for the indefinite permit. Each year is tested on its own: a strong second year does not cover a short third one.
Property route. A holder wants to sell the qualifying flat in year 3 and move to another one.
| Step | Order A: replacement first | Order B: sale first |
|---|---|---|
| 1 | Registers a replacement of the same or higher value and files the extract | Sale registered, ownership ends |
| 2 | Sells the first flat; the permit continues | Permit ends, and the work exemption with it |
| Year 5 | Certificate counts both flats, five years in total | Nothing left to convert |
The rule rewards the order of steps, not the speed of the sale. Our guide on selling the property behind a permit covers the same timing for the smaller permit, which has no replacement rule.
Easily confused: the permits and visas next to it
| Term | How it differs |
|---|---|
| Short-term property permit, Art. 15(კ) | More than $150,000; one year at a time; ends with ownership; no work exemption |
| Indefinite permit, Art. 15(ლ) | The follow-on, with the right of permanent living |
| Permanent residence permit, Art. 15(ზ) | Another ground: 10 years on temporary permits, or family of citizens |
| D5 immigration visa, Art. 7(3)(დ.ე) | A visa for owners of property worth more than USD 150,000; ends with ownership (Art. 21(1-1)) |
| Work residence permit, Art. 15(ა) | Needs the right to labour activity and, under Resolution No 70, annual employer or business turnover of at least GEL 50,000 per foreigner |
Residence is also not tax residence: the permit carries no tax status. The application itself, with documents and steps, is in our guide to the investment residence permit.
The investment residence permit in five languages
| Language | Investment residence permit |
|---|---|
| Georgian | საინვესტიციო ბინადრობის ნებართვა |
| English | investment residence permit |
| Russian | инвестиционный ВНЖ |
| Hebrew | היתר שהייה למשקיעים |
| Arabic | تصريح إقامة استثماري |
Georgian legal texts use the statutory form საინვესტიციო ბინადრობის ნებართვა, the form to expect in a Georgian contract that mentions the permit; the follow-on is უვადო ბინადრობის ნებართვა, in Russian бессрочный ВНЖ.
Warning signs and common misreadings
- Expecting a renewal. Article 16(3) excludes it; the next step is the indefinite permit.
- Reading "$300,000" as enough. A valuation of exactly USD 300,000 fails the property route.
- Selling before the replacement is on file. The extract must reach the agency before the old ownership ends.
- Treating turnover as cumulative. One short year ends the permit.
- Assuming the work exemption survives. It lasts only while the permit is valid.
- Mixing up the letters. 15(h) in English and 15(თ) in Georgian are the same subparagraph.
To be added by the team: scans for the team to add, with personal data redacted: an investment residence card (front), an agency decision granting the permit, a registry certificate of five years' ownership, and the valuation page showing the market value in GEL.
How to check that the investment permit fits your situation
Pick the route
Business investment with yearly turnover, or property ownership.
Test the threshold
At least USD 300,000 invested, or a value above USD 300,000.
List the family
Match each relative to the four categories in Article 15(თ).
Plan the five years
Turnover floors each year, or ownership with any replacement filed first.
Diarise the indefinite application
File it before the five-year permit expires.
Confirm the open points
Audit report, written reference and family work rights with a lawyer.
Frequently asked questions
Which article creates the investment residence permit?
Article 15(თ) of the Aliens Law, or 15(h) in the English translation.
Does a property valued at exactly USD 300,000 qualify?
No. The value must exceed USD 300,000.
Can the permit be extended after five years?
No. Article 16(3) excludes it; the next step is the indefinite permit.
Do holders need the right to labour activity?
Not while the permit is valid (Labour Migration Law Art. 1(4)(ვ)).
Which relatives can be included?
A spouse, a minor child, and fully maintained persons who receive support, are unable to work or are legally incapable.
What does "investment" mean here?
Property or rights placed in entrepreneurial activity in Georgia for possible profit (Investment Law Art. 1).
What is the agency fee?
GEL 300 for the standard decision on the 30th calendar day; a faster decision costs GEL 450 (20th day) or GEL 600 (10th day).
Is the permit kept while the indefinite application is pending?
Yes, until the agency decides (Art. 16(6)).
Sources
- Law on the Legal Status of Aliens and Stateless Persons, Georgian consolidated text of 25 June 2026, Arts. 7(3), 10(4), 15, 16, 20(2) and 21 (accessed 2 November 2026)
- The same law, English translation, Arts. 15(h) and 15(k)
- Law of Georgia No 473 of 12 November 1996 on investment activity, consolidated 25 June 2019, Arts. 1 and 2 (accessed 2 November 2026)
- Law on Labour Migration, consolidated 25 June 2026, Arts. 1(4)(ვ) and 16-1 (accessed 2 November 2026)
- Government Resolution No 70 of 20 February 2026, Art. 1(3)(ვ) of the rules (accessed 2 November 2026)
- Government Resolution No 520 of 1 September 2014 (accessed 2 November 2026)
- Migration and residence permits, Public Service Development Agency (accessed 2 November 2026)
- Georgia toughens residency permit requirements, OC Media, on the 2019 amendments
Change log
- - Glossary entry published from the Law on the Legal Status of Aliens and Stateless Persons, the 1996 Investment Law, the Law on Labour Migration, Government Resolutions No 70 and No 520, the Public Service Development Agency and OC Media.