There are many countries in the world that are mostly underestimated in terms of investment prospects, they fall out of the field of view of the most famous businessmen, although at the same time they retain their advantages for those who can really see their financial attractiveness. The list of these countries is headed by Georgia. In fact, it is known that most entrepreneurs with a world name do not have a clue about its existence.

The previous status of a member of the Soviet Union did not prevent Georgia from making titanic efforts during the last 10 years and develop a prominent immigrant friendly policies, since it grants a one-year visa just by stepping on the country.

In fact, the Georgian residency programs are one of the most underrated and valuable programs of this type in Europe. We will shortly tell you some of the advantages of it:

- It is the only country in the world that grants foreigners a 365 days residency permit upon arriving in the country;

- Georgian citizens can cross European countries boarders without visa;

- Its tax regime is one of the most flexible in Europe:  the corporate tax is a flat rate of 15%, a VAT of 18% and a personal income tax of 20%, what gives a flourishing opportunities for business.

- In the last few years, this modest country has been able to create profitable great economic policies that had fostered foreign investment.

Why is Georgia a great place to live?

Quality as in Europe and price is quite lower, for instance, renting your own apartment wouldn’t cost much more than $ 250 and even luxury apartments rarely hit $ 800. A single person estimated monthly costs are 416.25 $, adding rent.

Why is Georgia a great place to do business?

There is no secret, that in 2020 Georgia obtained the 7^th position among 190 states in the World Bank Doing Business ranking. Georgia Ranks as the 3rd Least Tax Burden Country in the World, with 9.9% Total Tax Rate; so it confirms how suitable this country is for doing business. 

Obtaining independency only in 1991, suffering from political and economic instability until the 2000s and now reach a stable economic, liberal and free-market-oriented economic policy says about strong government conducting probusiness policy.

Since the the fall of the Iron Curtain, Georgia has been characterized by its sound growth fostered by a series of profound economic reforms and low levels of corruption, which allowed it to take advantage of its favorable geopolitical location, since it is located right on the border between Europe and Asia, being the bridge between these continents, and has good economic relations with the EU, the United States, China, Turkey, and Iran.

Ways to get residency in Georgia?

Again, thanks to the new government policy aimed at maximizing the development of Georgia, we can see a reduction in bureaucratic processes, including all the red tape associated with residence permits. Georgia offers visas, residence permits, and tax residency status to investors, property owners, entrepreneurs, freelancers, workers, and their family members, with a path to citizenship. Many years it has been the only country in the world that grants almost all nationalities an initial right of residence for 365 days upon arrival in the country. If you have a desire to stay in the country after one year of residence, you can just apply for a residence and work permit up to 40 days before the first year expires. There is no difficulties in receiving the residence permission and it is renewed every year, even if you earn your income from outside of Georgia.

This outstanding country offers several types of temporary residence permits, especially:

- Work Residence Permit (for people with a work contract or business in Georgia): temporary residency, valid for at least six months, extendable.

- Short-term Residence Permit (based on property ownership): valid for at least one year and extendable. If you invest a minimum of $100 000 in real state (not agricultural land), you’re eligible.

- High-Net-Worth Individual: if the value of your assets is higher than $945,000, or your annual income exceeded $63,000 in each of the last three years, you are eligible for this residency.

- Investment residence permit (permanent): issued initially for 5 years, to a foreign citizen (or family) who invested in Georgia economy or real estate at least USD 300 000.

Nestled in the heart of the South Caucasus, Georgia is a gem waiting to be discovered. With its breathtaking landscapes, rich history, and warm hospitality, developed economic, perfect location, low prices, favorable legislation for doing business and investing that provide people with fulfilling kind of lifestyle, it's no wonder that it is considered to be the best place to live.