This guide is aimed at Russian nationals. It covers fund transfers, local and Georgian taxation, treaties, contract language, mortgage financing, permanent residency and crypto payment.
Since 2022 most Russian banks are excluded from SWIFT. Payments route through Armenian, Kazakh, UAE or Serbian banks, or via crypto (USDT TRC-20 widely used). CBR authorisation required above USD 1M outbound per month. Direct Moscow-Tbilisi flights resumed in 2023.
Crypto payments (USDT, USDC, BTC, ETH) are accepted by most of our partner developers. Conversion to GEL or USD is processed by a regulated Georgian on-ramp provider, with a legally compliant invoice. This avoids SWIFT fees and international wire delays.
In Georgia, non-resident rental income is taxed at a 5% flat withholding rate. No wealth tax, no inheritance tax on Georgian assets. Capital gains on real estate are fully exempt after 2 years of holding. The 18% VAT is already included in developer prices.
The 1999 Russia-Georgia treaty was terminated in 2003 and never replaced. Rents taxed in Georgia (5%) and Russia (13-15% for residents, 30% for tax non-residents) without automatic tax credit. Consult a tax advisor to mitigate double taxation.
Purchase contracts are drafted in Georgian (official cadastre language) with a certified English translation systematically provided. On request, a French, Russian or Arabic version can be annexed. All signatures happen before a Georgian notary, in person or via a power of attorney legalised in your home country.
Georgian banks (TBC Bank, Bank of Georgia, Credo Bank) grant mortgages to foreigners with a 30-40% minimum down payment, over 10 to 15 years, at rates of 11-14% in GEL or 8-10% in USD. A local bank account and 3 months of proof of income are required.
Any real estate investment of $150,000 or more entitles the investor, their spouse and minor children to Georgian permanent residency. Applications are processed in 30-45 days, with no effective residency requirement. After 6 years, naturalisation becomes possible.