Tax residency in Georgia by means of wealth for persons who do not have a Georgian residence permit

29.11.2024

•  Wealthy persons are considered to be those who:
• The presence of a connection with Georgia without a residence permit is confirmed by: 
• Contact our legal team to learn more

Tax residency in Georgia by means of wealth for persons who do not have a Georgian residence permit 🇬🇪  
  
If you want to obtain Georgian tax residence status based on wealth, then you must meet two criteria:  

• Recognition of a person as wealthy;  
• Availability of connection (substention) with Georgia.  

 Wealthy persons are considered to be those who:

• possess property worth more than GEL 3,000,000 (outside Georgia/on the territory of Georgia); 
  or  
• have had an annual income of more than 200,000 GEL in the last 3 calendar years 

The presence of a connection with Georgia without a residence permit is confirmed by: 

• property in Georgia from USD 500,000 + income in the amount of GEL 25,000 from a source located in Georgia for the last tax (calendar) year.  

A tax residency certificate is issued for the year in which the application for the certificate was submitted. However, it should be remembered that in the absence of a residence permit in Georgia, theincome in the amount of 25,000 GEL from a source in Georgia must be received in the year preceding the application. 

Example:  To recognize an individual as a tax resident of Georgia for 2025, it is necessary to have:  a bank account in a Georgian bank with funds in the amount of EUR 1,000,000 (equivalent to 3,000,000 GEL). Compliance with criterion A.   income of GEL 25,000 from a source in Georgia, actually received in 2024. This can be a salary from the employer - a company registered in Georgia. Compliance with criterion B.

Therefore, if you are not ready to become a tax resident of Georgia on the basis of residence in the country for 183+ days, we recommend planning in advance to comply with the requirements for obtaining the status of a tax resident of Georgia based on wealth.
 
Read more in our guide "Alternative Tax Certificates 2024" - HERE.

Authors: Yaroslavna Zadesenskaya, Levan Pogosov

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