What happened? The political opposition group Eurooptimists has submitted a bill to the Georgian parliament that would temporarily suspend the issuance of residence permits to citizens of the Russian Federation until the end of 2024. This information was conveyed at a briefing by parliament member Roman Gotsiridze, representing this group.
Quote. “Our political group Eurooptimists today registered a bill that implies the suspension for a certain period of issuing investment or temporary residence permits for Russian citizens,” he said.
In accordance with current legislation, as the politician explained, if a Russian citizen invests an amount equal to $300 thousand or purchases real estate for this amount, he is entitled to receive a five-year residence visa, after which he can apply for an indefinite residence permit.
Also, a Russian citizen can obtain a temporary residence permit in Georgia, valid for one year, with an investment of $100 thousand. According to Gotsiridze, from the beginning of 2022 to June 2023, citizens of the Russian Federation purchased up to 10 thousand apartments in Georgia, which is the basis for obtaining a residence permit.
What’s next? Currently, this is only a bill that has yet to be voted on in parliament. It remains unknown whether it will ultimately be adopted. It is worth recalling that earlier opposition deputies proposed banning the sale of real estate to citizens of the Russian Federation, but this bill was not approved by parliament.
