Why is it profitable to invest in real estate in Georgia? It’s simple. Because Georgia and especially its unique region of Adjara with the capital Batumi is a convenient geographical location, a well-integrated economy, a rare loyalty to investors, support for investment projects – all this is favorable conditions for business development. This is one of the few countries that has hardly suffered from the global financial crisis. A country with a high standard of living and great potential.
Investments in Georgia are strongly supported at tax and legislative levels. Simple registration procedure, by European standards, low tax rates and small social contributions.
The construction industry in this country has traditionally been the benchmark for the introduction of advanced technologies, professionalism and reliability.
Today, real estate in Georgia is in demand among foreigners who want to invest their capital profitably. Since at quite affordable prices, the growth in the cost of housing increases annually by 20 – 40%. It should be noted that companies involved in the construction industry are trying to satisfy the demand for comfortable modern apartments, as well as office and industrial buildings that meet high standards and building standards. According to the reports of the National Registry of Georgia, despite the increase in prices, the number of transactions increased by 60%.
Today, Georgia is interested in attracting foreign investment in the country’s economy, and therefore the government of the country is doing everything possible to attract these investments. Thus, the government of Georgia abolished the law, according to which the construction of facilities was limited. At the same time, the procedure for the acquisition of real estate by foreign citizens is as liberal as possible. Today, Georgian real estate is freely bought and sold.
I must say that it is much easier to buy it for a foreigner than in many other countries. According to local laws, foreigners can acquire any property on the territory of Georgia, including one that is of historical value. Moreover, there are less requirements for foreign citizens than for residents of the country. To purchase an apartment you need only a passport and the necessary amount of money. In addition, recalculation of money directly into the social insurance fund, the payment of all taxes associated with the construction and sale of the company imposes a developer.
Moreover, in addition to utility payments, the buyer does not pay for the maintenance of the apartment, which significantly saves the monthly costs of maintaining the property. According to the Doing Business-2013 business environment friendly rating, which is annually compiled by the World Bank (WB) and the International Finance Corporation (IFC), Georgia occupies:
Registration of property
Obtaining building permits
Start a business
To the official web page of the National Agency for Public Registry, a function has been added to search for statements in Blockchain. From today, the consumer will be able to check the validity of the listing prepared for real estate in the global Blockchain global network directly from the official web page of the National Public Registry Agency.
GEORGIA IS ONE OF THE FIRST COUNTRIES TO USE BLOCKCHAIN TECHNOLOGY DURING REAL ESTATE REGISTRATION.
From February 20, 2017, information on the prepared real estate statement is automatically sent from the National Agency of Public Registry to the Blockchain system. Blockchain is a decentralized database. The records in it are stored in tens of thousands of computers all over the world.
Blockchain provides security, transparency, and availability of any transaction. It is impossible to erase, change, rewrite, or illegally manipulate the data that fell into it.
With the help of our services, Global Longevity users will be able to purchase real estate and land plots for Longevity tokens.