How to Buy Property in Georgia as a Foreigner

Georgia is one of the most foreigner-friendly countries in the world when it comes to property ownership. Unlike many countries that restrict foreign ownership, Georgia allows 100% foreign ownership of residential and commercial property with no limitations. ## Who Can Buy Property in Georgia? **Everyone.** Georgian law allows citizens of any country to purchase, own, and sell real estate in Georgia. There are no restrictions based on nationality, and the process is the same for foreigners as for Georgian citizens. *One exception: Agricultural land*. Non-citizens cannot own agricultural land under Georgian law. However, apartments, houses, villas, commercial properties, and non-agricultural land are fully open to foreigners. ## Step-by-Step Purchase Process ### Step 1: Obtain a Tax Identification Number (TIN) Required for the property registration. You can get this at any House of Justice (sakhelmwifo samsakhuri) with your passport. Takes about 10 minutes and is free. ### Step 2: Open a Bank Account (Optional but Recommended) Not legally required, but useful for transferring funds and paying utilities. Most major Georgian banks (TBC, Bank of Georgia) open accounts for foreigners with just a passport. ### Step 3: Find Your Property Work with a reputable agency that has experience with international clients. Key documents to request: - Title deed (extract from Public Registry) - Technical passport of the building - No encumbrance certificate - For new builds: construction permit and completion act ### Step 4: Agree on Terms and Sign Preliminary Agreement A preliminary agreement (promise of sale) is common for new builds or when the final payment is split. This is signed at a notary office and typically includes: - Full price and payment schedule - Completion date - Penalty clauses ### Step 5: Full Payment and Final Contract Once payment is confirmed, both parties sign the purchase-sale contract at a notary. You can sign in person or grant Power of Attorney to your lawyer. ### Step 6: Register the Property After notarization, register the title at the National Agency of Public Registry (NAPR). Registration can be done: - Standard (5 working days): 50 GEL (~$18) - Express (1-2 working days): 150 GEL (~$55) - Same-day: 200 GEL (~$72) ### Step 7: You're Done! Georgia's property registration system is one of the fastest and most efficient in the world. World Bank consistently ranks it among the top 5 globally for ease of property registration. ## Total Purchase Costs | Cost | Amount | |------|--------| | Property transfer tax | 1% of price | | Notary fee | 0.1–0.5% | | Registration fee | $18–72 | | Agent commission | 3–5% (usually paid by seller) | | **Total buyer costs** | **~1.5–2%** | ## Currency and Payments Georgia uses the Georgian Lari (GEL), but most real estate transactions are priced and conducted in US Dollars. Payment can be made via bank transfer. Most Georgian banks handle international wire transfers efficiently. ## Tax Obligations After Purchase - **Annual property tax**: 0–1% depending on property value and household income. Most residential properties for primary residence are tax-exempt. - **Rental income tax**: 20% (or 5% if registered as a micro business) - **Capital gains**: 5% if sold within 2 years of purchase; 0% after 2 years Ready to start your Georgia property journey? Contact us for a free consultation with our multilingual team.