1. Can a foreign citizen buy a flat in Georgia?
- A foreign citizen has the right to acquire and own real estate in Georgia. This right shall be regulated by the legislation.
2. What procedures are required for a foreign citizen to buy a flat in the Monolith Group?
- After the apartment selection in the building built by Monolith Group, the apartment buyer gives his personal information (name, surname, address, telephone, e-mail and passport scanned copy) to the sales department of Monolith Group.
- Sales Department prepares a pre-purchase contract and sends the client.
- Parties agree on the date of concluding a contract before the sale. The signature of the contract may be made by the self-employed person or the person who is equipped with a trustee (a trustee certified by a notary, a copy of the ID card or passport copy of the trustee and notarial notary contact details (telephone, e-mail, etc.) Public Registry Omleblebs to have to connect to a notary and to verify the authenticity of the document).
- Registration of property in the Public Registry by the seller and the buyer/trustee.
- Payment of the seller to the seller according to the schedule provided by the buyer.
- After the completion of the construction, the purchase agreement is between the seller and the buyer.
- Registration of the Purchase Agreement in Public Registry.
3. Which language is the contract signed?
- Purchase Agreement is made in 2 languages - in Georgian and in the desired language. In case of discrepancy between Georgian and English / Russian-speaking copies of the Agreement, the Georgian copy of the "Agreement" is given priority.
4. What taxes are paid by a foreign citizen after the acquisition of the apartment?
- After the purchase of the apartment, the foreign citizen is obliged to pay only the utility fee on a monthly basis.
5. Is a foreign citizen free from a visa if he owns real estate in Georgia?
Foreign nationals who require a visa to enter/move to the territory of Georgia shall not be exempted from their visa if they own real estate in Georgia. See the list of countries whose citizens have short-term visits (90 days in any 180-day period) to enter the country without a visa.
6. Can a foreign citizen buy a monetary loan with a credit?
Monolith Group, together with the Bank of Georgia, offers the best conditions for a mortgage loan. Foreign citizens have the opportunity to purchase an apartment with a 10-year loan with an interest rate of 9-11%. See Mortgage Loan Terms on this link.
7. Do foreign citizens have the right to alienate or acquire immovable property acquired in Georgia?
According to the Constitution of Georgia, the foreign citizen has the right to alienate or legally transfer his property to another person. It is impermissible to abolish the universal right to ownership, acquisition, alienation or inheritance.