Land Plots for sale in Batumi Georgia
Most often, foreign citizens invest in such types of residential real estate as apartments, private houses. To buy a house in Georgia, you first need to choose the right land. This can be done by contacting one of the many real estate agencies in the country.
In the seaside Batumi, lands by the sea will have the greatest profitability, since here the entire economy is based on the seasonal nature of demand. The farther from the sea, the cheaper the land in Batumi will cost.
There are some new regulations that allow foreigners to acquire agricultural land in Georgia.
The author of the law, the head of the parliamentary agrarian committee, named the criteria in which case it is possible to sell land to foreigners, and noted that, despite the introduction of procedures, the lease of land will not be limited.
According to “Organic Law on Agricultural Land” an individual citizen of another country cannot buy agricultural land in Georgia, land can only be rented.
If a foreigner still wants to buy agricultural land in Georgia, he must establish a company in Georgia, where his or other foreigners’ equity participation does not exceed 49%. The share of the Georgian partner (or partners) must be 51% or more.
By investing in real estate in Batumi or whole Georgia, foreigners have the opportunity to become residents of the country. The basis for filing an application for a residence permit or citizenship of Georgia is ownership of real estate worth at least 300,000 GEL, which is equivalent to $ 100,000.