Tax Residency for High Net Worth Individuals (HNWIs) in Georgia
Georgia offers an attractive and flexible tax residency regime for High Net Worth Individuals (HNWIs), enabling them to obtain tax residency without the need for physical presence in the country. This preferential model appeals to globally mobile individuals seeking legal clarity and tax efficiency in a cooperative jurisdiction.
Legal Framework
The special tax residency status for HNWIs is established under Decree No. 60 of the Ministry of Finance of Georgia. In contrast to the standard 183-day residency rule, HNWIs may apply for residency status through a dedicated legal pathway, subject to specific eligibility requirements.
Eligibility Requirements
Applicants must satisfy the following criteria, either cumulatively or in approved combinations:
Global Wealth or Income
- Own worldwide assets of at least 3 million GEL, or
- Earn a minimum of 200,000 GEL annually for each of the past three consecutive years.
Assets in Georgia
- Own assets located in Georgia valued at 500,000 USD or more.
Connection to Georgia
- Hold a Georgian residence permit or citizenship, or
- Have earned at least 25,000 GEL in Georgian-source income in the year preceding the application.
To qualify, an individual must meet a valid combination of these conditions (e.g., global wealth + Georgian assets + Georgian-source income).
Key Benefits
- No physical presence required – applicants are not obligated to reside in Georgia.
- Foreign-sourced income is tax-exempt under Georgian legislation.
- International recognition – formal tax residency status supports banking, compliance, and cross-border reporting obligations.
Application Procedure
A formal application must be submitted to the Georgian Revenue Service (GRS) along with supporting documentation, including proof of global and local assets, income history, and Georgian ties. While the decree does not exhaustively list the required documents, in practice, the application is assessed based on existing administrative standards.
To ensure legal compliance and maximize the chances of successful application, professional assistance is strongly recommended.
Contact Us
For consultations or inquiries regarding the HNWI tax residency program, you are welcome to contact our office.