A legislative package has been initiated in the Georgian Parliament that proposes the introduction of a new C5 category visa to the Law on the Legal Status of Foreiger and Stateless Persons. The new visa aims to attract foreign nationals with high purchasing power and investors.
Under the proposed legislation, the C5 visa will be a multiple-entry, 5-year visa, granting holders the right to stay in Georgia for up to one year in total over the five-year period. This visa will also apply to the holder’s spouse and minor children. Importantly, C5 visa holders will be allowed to engage in remote work for non-resident individuals.
From a financial standpoint, the application fee and charge for issuing the C5 visa (including in electronic format) will range from $20 to $500 USD.
According to the initiators of the bill, the changes are expected to contribute to the inflow of foreign currency, as well as foster the development of the tourism and service sectors. The project also limits the right to appeal decisions regarding visa denials. The draft law is set to be discussed in Parliament under an expedited procedure.
The C5 visa is intended for individuals coming to Georgia for short-term purposes, such as tourism, with the additional privilege of engaging in activities that benefit non-residents, provided those activities are related to non-resident activities outside of Georgia. The visa will also extend to the spouse and minor children of the visa holder.
The introduction of the C5 category visa is seen as a targeted and modern economic tool designed to attract high-spending foreign visitors. The initiative is based on the fact that wealthy tourists tend to have high purchasing power and generate significant economic benefits for the host country. Their visits increase revenues in the tourism sector, strengthen the service industry, and ensure stable foreign currency inflows. The C5 visa also creates an additional opportunity to attract investments. International experience shows that visitors with high asset status are often interested in starting businesses, leading to additional capital inflows into the economy. Therefore, this initiative could become an effective mechanism for stimulating investment, according to the explanatory note of the bill.
The authors of the bill are: Levan Makashvili, Vakhtang Turunava, Lika Shartava, David Dolime, Irakli Shatakishvili, Viktor Sanikidze, and Giorgi Chakvetadze.
