How Can a Foreign Citizen Buy an Apartment in Georgia?

Interest in Georgia’s real estate market keeps steadily growing among foreign buyers. In Tbilisi, foreign nationals keep buying apartments not only to settle here long-term but also as investment properties. Who can blame them? Georgia is kind to non-residents, helping them along with relatively straightforward procedures and a legal framework that protects property ownership rights.

Under Georgian law, the terms for buying apartments are almost the same for foreign nationals as Georgian citizens. However, almost doesn’t mean entirely. There are several additional details to consider, including the documents required, payment options, and the process for registering ownership.

In the blog below, the Maqro City Tbilisi team will explain step by step, what a non-resident buyer needs to do to buy an apartment and what to keep in mind before completing the transaction.

What Types of Real Estate Can a Foreign Citizen Buy?

Georgian law allows foreign nationals to purchase all types of real estate, aside from one small caveat. Foreigners are allowed to own both residential and commercial units, including apartments in Tbilisi, private homes, and office space. But they aren’t allowed to purchase and register agricultural land in their own name.

A visa or residence permit is not required to buy an apartment. A valid passport is enough to complete the transaction. Once the property is registered, the buyer receives full ownership rights and can rent out the apartment, sell it, give it as a gift, or pass it on through inheritance.

What Does it Take to Buy an Apartment in Georgia?

There are three main stages to complete before you can call real estate your own. The process starts with choosing an apartment and double-checking its legal status. Public Registry shows who owns the property and whether it is subject to a mortgage, seizure, or other restriction. When considering apartments under construction in Tbilisi, buyers should also review the developer’s track record and verify that the project has a valid construction permit. You also need to confirm how realistic the expected completion date is and the terms for registering ownership.

The next step is signing the purchase agreement. This document should be clear about the payment schedule, the handover date, and the condition in which the buyer receives their apartment. The agreement is generally prepared in Georgian, although foreign buyers should, of course, be provided with a bilingual version.

The final step is registering ownership with the Public Registry. The buyer will need a passport with a notarized Georgian translation, the purchase agreement, and a receipt confirming registration fee payment. Standard registration takes several business days. With expedited service, it may be completed on the same day the application is filed. Once registration is complete, the buyer becomes the legal owner of the property regardless of citizenship.

Can You Buy an Apartment Without Traveling to Georgia?

Foreign nationals are allowed to buy an apartment without traveling to Georgia. To do this, the buyer grants power of attorney to a trusted representative, who signs the agreement on the buyer’s behalf and registers the property with the Public Registry. A power of attorney issued abroad must be accompanied by a Georgian translation. Depending on the country where it was issued, the document must also be apostilled or legalized.

When buying directly from a developer, much of the process can be handled remotely. At Maqro City Tbilisi, for example, prospective buyers can view apartments through a virtual tour and discuss the details with the sales team by phone or via an online meeting.

How Can a Non-Resident Buyer Pay for an Apartment?

On the secondary market, a non-resident can buy an apartment by paying the full amount upfront. But if interested in the new residential complex Maqro City Tbilisi, buyers can utilize the interest-free internal installment plans, as they’ll be buying directly from the company. After making the initial payment, the buyer pays the remaining balance in installments as determined by the contract until construction is complete. The arrangement is made directly with the developer, so no bank involvement is required.

In both cases, paying by bank transfer is generally preferable. Such an arrangement provides the buyer with a better peace of mind, as there’s an official record showing the payment date, amount, and recipient. That record may be useful later, for example, when applying for a residence permit.

What Are the Costs and Taxes for a Non-Resident to Buy and Own an Apartment in Georgia?

When buying an apartment in Tbilisi, the buyer does not pay an additional purchase tax. The only direct expense is the fee they have to pay when registering ownership with the Public Registry. Annual property tax depends on household income, so it does not apply to every property owner.

If the owner rents out the apartment, the rental income is taxed at a preferential rate. If the property has been owned for more than two years, any profit from its sale is no longer subject to income tax.

Tax obligations can vary depending on the circumstances, so anyone seeking exact information should consult a specialist in this area.

Under What Conditions Can Real Estate Ownership Qualify a Foreign Citizen for a Residence Permit?

Owning real estate in Georgia gives a foreign citizen grounds to apply for a short-term residence permit. To qualify, the property’s market value must exceed the Georgian lari equivalent of USD 150,000.

The permit is issued for one year and can be renewed for the following year multiple times. The owner must retain ownership of the property in order to remain eligible. A spouse and children may also apply for residence permits on the same basis.

If the property’s market value exceeds the Georgian lari equivalent of USD 300,000, the owner may apply for an investment residence permit, which is issued for five years. After maintaining ownership of the property for five years, the foreign citizen may apply for permanent residence.

How Does the Maqro City Tbilisi Team Assist Foreign Investors?

If an investor is interested in becoming an owner of an apartment near metro Samgori, they can contact the Maqro City Tbilisi team to learn more about the complex’s location, available apartment sizes, floor layouts, and completion dates. During the consultation, they can also find out what is included in the apartment price, what condition the property will be delivered, and which documents are needed for the purchase.

Those interested can receive more information about the Maqro City Tbilisi project at the sales office or remotely. During the conversation, the sales team representative will go over the available apartment types, payment terms, and the process for signing the purchase agreement in detail with the prospective buyer.