Can foreigners buy land in Georgia? Agricultural land

Under Article 19(4) of the Constitution, agricultural land may be owned only by the state, a self-governing unit, a Georgian citizen or a union of Georgian citizens. Exceptions are possible only by organic law.

Under the 2019 Organic Law, a foreigner may own agricultural land only through inheritance. A company registered in Georgia whose dominant (over 50%) partner is a foreigner may acquire it only under an investment plan, by Government decision. A dual citizen counts as a Georgian citizen for this law.

What to know

• Before buying, check the land category on the Public Registry extract — agricultural or non-agricultural
• If investment-plan obligations aren't met, the land must be sold within 1 year or it passes to the state
• A mortgage over agricultural land with transfer to a foreign creditor is banned, as is a change of partners that makes a foreigner the dominant partner
• Financial institutions designated by the Government are exempt
• When agricultural land is sold, co-owners and registered lessees have a pre-emption right — foreigners don't

Tax on selling property

An individual selling a flat or house (with its land) owned for more than 2 years pays no tax. If owned for less, the gain is taxed at 5%. Other assets, such as a plot of land, are also exempt after 2 years if not used in business.