This guide is aimed at Belgian nationals. It covers fund transfers, local and Georgian taxation, treaties, contract language, mortgage financing, permanent residency and crypto payment.
Wires are sent via SWIFT from your Belgian bank (KBC, ING, BNP Fortis, Belfius: €20-45) or through Wise / Revolut. No exchange controls. Above €10,000, CTIF may request proof of the funds' origin (payslip, notarial deed, tax return).
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 Belgium-Georgia tax treaty of 14 December 2000 applies. Georgian rental income is taxed in Georgia and declared in Belgium under section III of the IPP return, with exemption subject to progressivity. No Belgian tax on foreign real estate capital gains.
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.