Ultimate expatriation guide to Georgia: A great country between Europe and Asia
Last Updated on 5 January 2025
Picture this. You’re smack dab in Eurasia, soaking up the sun. A work laptop sits open by you, a cold local beer in hand. Behind you, the breathtaking Georgian scenery stretches out.
Doesn’t that sound like the dream of independent professionals?
The ‘Remotely From Georgia’ initiative makes this dream come true. It invites global professionals to explore Georgia while working on their craft. But let’s delve into what makes this program so tempting.
How ‘Remotely From Georgia’ Shines Bright
One of the best things about the ‘Remotely from Georgia’ program is the enticing blend of friendly tax policies and a climate conducive to establishing microbusinesses.
What’s not to love about low taxes, especially when it comes to running a business?
And, if the idea of starting a microbusiness piques your interest, you’re in luck. The tax structure in Georgia is designed to support it.
Georgia’s Weather – a Sunny Welcome!
But let’s take a break from finances.
After all, it’s not all about numbers, right? Georgia is a land where sunbeams dance and temperatures are usually between a comfortable 10°C and 34°C.
It’s an inviting climate for those planning to work remotely.
Affording the Georgian Lifestyle
So, what about the cost of living in this sunny, welcoming place?
Good news! Life in Tbilisi, the Georgian capital, won’t burn a hole in your pocket.
In fact, compared to Europe, Tbilisi promises a 30 to 60% cheaper lifestyle, depending on your living choices, and where you come from.
A few typical expenses in Tbilisi include:
- A cozy studio apartment in the heart of the city: €450 to €600 per month
- A comfortable hotel room: €34 per night
- A satisfying meal: €9.27 per person
- A refreshing beer (0.5L): €1.23
- A bustling coworking space: €110 per month
- A reliable internet connection: €20 per month
Delving into Georgian Taxation
Now back to taxes! If you’re a sole proprietor earning less than 500,000 Georgian Lari (which is roughly €185,000), you’ll only have to fork out 1% of your turnover in taxes. Even if you earn more, the tax won’t exceed 3%.
Corporate taxes are also favorable. If you decide to keep your profits within the company, they remain untouched by taxation. Distributing profits as dividends results in a 15% corporate tax, while income from Georgian sources comes with a 20% income tax.
And what does it take to become a tax resident in Georgia? Simply spending more than 183 days in a 12-month period in this charming country.
Navigating Administrative Procedures in Georgia
To set up your remote work base in Georgia, you’ll need to apply for the ‘Remotely from Georgia’ status, available to entrepreneurs from 95 countries.
A valid passport, proof of a minimum monthly income of $2,000 or $24,000 in a bank account, evidence of commercial activities, and health insurance are the key requirements.
The initial visa lasts for 360 days, and if you find yourself falling in love with Georgia (who wouldn’t?), a permanent residency visa awaits. The entire process typically takes around ten days.
Tbilisi, the Digital Nomad’s Paradise
Why Tbilisi, you ask? Well, the city is home to captivating museums, plush hotels, and gourmet restaurants.
Its residents welcome digital nomads with open arms, and for nature enthusiasts, the Caucasus Mountains offer breathtaking hiking experiences.
And, if you ever feel like exploring Bali or Thailand, your strategic location in Georgia makes the journey all the more convenient.
The Financial Institutions of Georgia
Banking in Georgia might not be as established as in some Western countries, but Georgian banks such as the Bank of Georgia, TBC Bank, and Liberty present intriguing investment opportunities.
Opening an account can be relatively straightforward, although you may need to provide information about the source of your funds. If you’re an expat, using TransferWise’s multi-currency account will make your transactions smooth.
Why Wise?
Wise (formerly TransferWise) comes with plenty of benefits:
- A free multi-currency account
- A free MasterCard debit card
- Zero account opening and maintenance fees
- Quick and reliable international transfers
Well, that’s it. If you’re a digital nomad looking for the next big adventure or an entrepreneur ready to start a microbusiness in an exciting location, Georgia awaits you with open arms.
Will you take the leap?
