The Georgian Parliament is currently reviewing a legislative initiative that could significantly alter the nation's immigration policy regarding property owners. The proposed amendment seeks to abolish the issuance of residence permits based on real estate ownership, a move that would terminate a popular route for foreign investors seeking legal residency in the Caucasus nation. Under existing regulations, international buyers can secure status by investing in the local housing market, but the new bill aims to remove these specific provisions from the national law.
Current Regulations and Proposed Legal Changes
Since the implementation of the current migration framework, foreign nationals have been eligible for a short-term residence permit upon purchasing immovable property with a market value exceeding 100,000 USD. This legal mechanism not only grants residency to the primary investor but also extends the right of stay to their immediate family members, including spouses and children. The new proposal specifically targets the exclusion of clauses related to:
- Provisions for short-term residency via property acquisition.
- Investment-based residence permits linked to real estate assets.
- Automatic residency rights for dependents of property owners.
This shift reflects a broader discussion within the Georgian government regarding the long-term impact of foreign investment on the local real estate sector and the efficacy of current immigration categories.
Impact on International Investors and the Market
The potential removal of these incentives may influence the investment climate in major hubs such as Tbilisi, Batumi, and Kutaisi, where foreign demand has historically been high. Currently, the law allows for a relatively straightforward path to legal status through the acquisition of apartments, commercial spaces, or land. If the Parliament approves the initiative, prospective residents will need to explore alternative legal grounds for staying in the country, such as employment contracts, educational enrollment, or business activities not tied solely to real estate holding.
The initiative proposes to exclude provisions on short-term and investment residence permits related to real estate from the law.
In conclusion, the proposed legislative overhaul represents a significant turning point for Georgia’s approach to foreign residency. While the bill is still under consideration by the Georgian Parliament, its passage would mark the end of an era for the "residency by investment" model centered on property. Travelers and expatriates planning long-term stays in Georgia are advised to monitor the progress of this bill as it moves through the legislative process in June 2026.