{"id":89295,"date":"2023-03-20T17:56:18","date_gmt":"2023-03-20T13:56:18","guid":{"rendered":"https:\/\/forbes.ge\/high-net-worth-individuals-entitled-to-obtain-georgia-s-tax-residency-certificate-without-spending-183-days-here\/"},"modified":"2025-08-15T12:35:23","modified_gmt":"2025-08-15T08:35:23","slug":"high-net-worth-individuals-entitled-to-obtain-georgia-s-tax-residency-certificate-without-spending-183-days-here","status":"publish","type":"post","link":"https:\/\/dev.forbes.ge\/en\/high-net-worth-individuals-entitled-to-obtain-georgia-s-tax-residency-certificate-without-spending-183-days-here\/","title":{"rendered":"\u00a0\u201eHigh Net Worth Individuals\u201c Entitled to Obtain Georgia\u2019s Tax Residency Certificate Without Spending 183 Days Here"},"content":{"rendered":"

Forbes Blog is a non-editorial category created by individuals with diverse interests and ideas. The texts published within this category represent the views of the authors and may not reflect the position of Forbes Georgia\u2019s editorial team.<\/em><\/p>\n

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If you aspire to become a tax resident without having to spend 6 months in a country, Georgia may be one of the best options.<\/p>\n

In general, Georgia applies a 183-day threshold for determining an individual\u2019s tax residency. Specifically, a natural person should spend at least 183 days in 12 consecutive months in the country to become a tax resident for a specific fiscal year in Georgia.<\/p>\n

Apart of the general clause, another, specific rule of tax residency is available in the Georgian tax code, namely, the so-called \u201cHigh Net Worth Individual (HNWI)\u201d tax residency rule, according to which, a natural person qualified under HNWI, can become a Georgian tax resident without spending even a single day in the country.<\/p>\n

Preconditions for Qualifying Under HNWI Status<\/strong><\/h2>\n

High net worth Individuals:<\/strong> Persons who either owns more than 3 000 000 Georgian Lari (GEL) (approx. 910 000 USD) assets OR have received more than 200 000 GEL (approx. 60 000 USD) annual income in each of last 3 calendar years from the year of the application (e.g. 2018, 2019, and 2020 if application is made for the fiscal year 2021).<\/p>\n

Note:<\/strong> sometimes tax authorities require a asset valuation report from a licensed expert showing market price of the assets. The valuation report may be required for fixed and other tangible properties while for some type of assets no such proof is usually needed (e.g. bank\u2019s signed official statement might suffice as a proof for the funds on the bank account).<\/em><\/p>\n

To apply for a tax residency certificate, besides meeting criteria of \u201cHigh net worth individuals\u201d (described above) a person either should hold a residence permit or citizenship in Georgia (Note: residence permit is living and working permit and is different from tax residency certificate) or demonstrate that he\/she received at least 25 000 GEL (approx. 7500 USD) from a Georgian source<\/em><\/strong> in the calendar year when the application was submitted.<\/p>\n

More specifically, a person applying for a tax residency certificate in Georgia as a \u201cHigh net worth Individual\u201d needs to satisfy the following criterions:<\/p>\n

    \n
  1. To demonstrate the ownership of assets of a value of at least 3 000 000 Georgian Lari OR<\/strong> receipt of at least 200 000 GEL annual income in each of last 3 years AND<\/strong> hold a residence permit (or citizenship) in Georgia.<\/li>\n<\/ol>\n

    Or<\/strong><\/p>\n

      \n
    1. To demonstrate ownership of assets of a value of at least 3 000 000 Georgian Lari OR<\/strong> receipt of at least 200 000 GEL annual income in each of last 3 years AND<\/strong> demonstrate receipt of at least 25 000 Gel from Georgian source<\/em><\/strong> in the calendar year when the HNWI tax residency application is submitted.<\/li>\n<\/ol>\n

      Please note: <\/strong><\/p>\n

      If you prefer to obtain a residence permit instead of demonstrating the receipt of 25 000-GEL income, you should visit Georgia and go through all the required procedures. There are several ways to obtain a residence permit which is not discussed in the present article.<\/p>\n

      The 25 000-GEL income shall be received from Georgian source (<\/em><\/strong>foreign source income will not count)<\/em> and taxed accordingly. Notably, article #104 of Georgia\u2019s Tax Code determines the categories of income considered as of a Georgian source.<\/p>\n

      Why Can It Be Beneficial for You to Become Georgia\u2019s Tax Resident?<\/strong><\/h3>\n

      Before applying for a HNWI tax residency certificate, you should make sure that:<\/p>\n