According to the Mayor of the capital Kakha Kaladze, significant amendments will be to the legislation on issuance of residence permit in Georgia. According to the amendments, instead of 35 000 USD, real estate worth of 100 000 USD will be required for a residence permit and granting residence permit to different individuals with the same property will be impossible.
Besides, the Mayor of the Capital talked about acquiring residence permit on the basis of an investment. According to him, by the current rules, a foreign citizen, who makes an investment of 300 thousand GEL, will be granted residence permit for an indefinite period of time – this will also be changed.
“Our initiative is to change 300 thousand GEL with 300 thousand USD and permanent resident with 5-year residence right. I believe that correction of mistakes made in the legislation is very important, for national interests and security. I am convinced that the Parliament will support us,” – stated the Mayor of the Capital.
