Georgia grants a short-term residence permit for real estate worth USD 150,000 or more and an investment residence permit for USD 300,000. Armenia sets no fixed amount: it grants residence to foreigners who run an operating business, and Armenian naturalisation needs 3 years of lived permanent residence versus 10 years in Georgia.
- Georgia: USD 150,000 in real estate qualifies for a short-term residence permit; USD 300,000 of investment qualifies for a 5-year investment residence permit (PSDA).
- Armenia: residence is granted to foreigners who run a registered, operating business; the MFA sets no fixed investment amount, and real estate alone does not qualify.
- Armenia's amended Law on Foreigners takes effect on 1 November 2026 and adds an investor permanent residence route; its investment amounts are not yet published.
- Timelines: Georgia's PSDA decides in 10, 20 or 30 days depending on the fee tier; Armenia's MFA states a decision in up to 30 days.
- Tax: Georgia taxes individuals at a flat 20% on Georgian-source income; Armenia taxes its tax residents on worldwide income, at a flat 20% on most income.
- Citizenship: Georgia requires 10 years of residence and generally does not allow dual citizenship; Armenia allows discretionary naturalisation after 3 years of permanent residence actually lived in the country.
- Neither country offers citizenship by investment.
Armenia vs Georgia Residency by Investment: A 2026 Comparison Guide
Last updated: 3 October 2026
Key Takeaways
- Georgia: USD 150,000 in real estate qualifies for a short-term residence permit; USD 300,000 of investment qualifies for a 5-year investment residence permit (PSDA).
- Armenia: residence is granted to foreigners who run a registered, operating business; the MFA sets no fixed investment amount, and real estate alone does not qualify.
- Armenia's amended Law on Foreigners takes effect on 1 November 2026 and adds an investor permanent residence route; its investment amounts are not yet published.
- Timelines: Georgia's PSDA decides in 10, 20 or 30 days depending on the fee tier; Armenia's MFA states a decision in up to 30 days.
- Tax: Georgia taxes individuals at a flat 20% on Georgian-source income; Armenia taxes its tax residents on worldwide income, at a flat 20% on most income.
- Citizenship: Georgia requires 10 years of residence and generally does not allow dual citizenship; Armenia allows discretionary naturalisation after 3 years of permanent residence actually lived in the country.
- Neither country offers citizenship by investment.
For internationally minded investors and families, the South Caucasus offers two distinct residence options. Comparing Armenia vs Georgia residency by investment comes down to one question: do you want a published, asset-based threshold (Georgia), or a residence route built on running a real business (Armenia)? Mirabello Consultancy sets out the facts below, drawn from official sources and our programme data.
What is the difference between Armenia and Georgia residency by investment?
The difference between Armenia and Georgia residency by investment is the qualifying basis. Georgia grants residence for owning real estate worth at least USD 150,000 or investing USD 300,000, while Armenia grants residence to foreigners who run a registered, operating business in Armenia, with no fixed investment amount set by the Ministry of Foreign Affairs.
Neither country is a member of the European Union, and neither sells citizenship. Both residence permits are therefore tools for living, doing business and building a long-term base in the region. For a wider view of residence programmes worldwide, see our guide to the best golden visa investment programmes.
How much does Georgia residency by investment cost?
Georgia residency by investment costs from USD 150,000, the minimum value of real estate (excluding agricultural land) that qualifies for a short-term residence permit, according to the Public Service Development Agency (PSDA). An investment of USD 300,000 qualifies for an investment residence permit valid for 5 years.
- Short-term residence permit (real estate): property worth USD 150,000 or more.
- Investment residence permit: USD 300,000 of investment, issued for 5 years to the investor and family members.
- Residence permit for indefinite stay: available after holding the investment residence permit for 5 years, subject to the PSDA conditions on the maintained investment or property.
The single qualifying investment covers the principal applicant together with a spouse and minor children; each family member pays the standard government permit fee. Our page on Georgia residence by investment covers the routes in full.
How much does Armenia residency by investment cost?
Armenia residency by investment has no fixed government investment amount under the current system, which applies until 31 October 2026. The Ministry of Foreign Affairs of Armenia grants temporary or permanent residence to foreigners who run a registered, operating business in Armenia. Real estate alone does not qualify: property supports an application only when it is held inside an operating business.
On 1 November 2026 the amended Law on Foreigners takes effect. It adds an investor permanent residence route (Article 29.6), designed as a 5-year card with no physical presence requirement to keep it, and an entrepreneurial-activity route (Article 29.4). It also closes the 10-year special residence status to new applicants, while existing holders keep it until expiry. As of 3 October 2026 the Cabinet has not published the investment amounts or eligible assets for the new routes. Figures that circulate online trace back to a 2022 draft law that was never enacted and do not apply. Read more on our Armenia residency by investment page.
Not sure which structure suits you? Contact Mirabello Consultancy for a complimentary consultation.
Who is eligible for each programme?
Eligibility for Georgian residence depends on holding qualifying real estate or a qualifying investment, while eligibility for Armenian residence depends on running a registered, operating business in Armenia. In both countries, applicants pass background checks and must evidence the lawful source of their funds.
Georgia eligibility
- Title to real estate in Georgia worth USD 150,000 or more, or a qualifying investment of USD 300,000.
- Valid passport and legalised civil documents for family members.
- No Georgian language requirement at the residence stage.
Armenia eligibility
- A registered company in Armenia that is genuinely operating.
- Valid passport, criminal record certificate and source-of-funds evidence.
- No Armenian language requirement at the residence stage; it applies to naturalisation.
Applicants from some jurisdictions face enhanced due diligence in both countries, depending on nationality and the origin of funds. Professional preparation of the file is strongly recommended.
How does the application process work in each country?
The application process in Georgia runs through the Public Service Development Agency after the property purchase or investment is completed, while in Armenia it runs through the Migration and Citizenship Service after the business is registered and operating.
Georgia: application process
- Complete the qualifying property purchase or investment.
- Compile passport, property title or investment evidence and civil documents.
- Submit the application to the PSDA, choosing the 10, 20 or 30-day service.
- Receive the residence permit card.
Armenia: application process
- Register the Armenian company, open its bank account and begin operations.
- Compile passport, company documents, criminal record certificate and source-of-funds evidence.
- Submit the application to the Migration and Citizenship Service of Armenia. From 1 November 2026, applications move to an online platform.
- Undergo background checks and receive the residence card upon approval.
Our team guides clients through every stage of both processes. Book your free consultation to discuss your situation.
How long does residency take in Georgia vs Armenia?
Residency takes 10, 20 or 30 days in Georgia, depending on the PSDA service tier, with state fees of GEL 600, GEL 450 and GEL 300 respectively. In Armenia, the Ministry of Foreign Affairs states that the residency decision takes up to 30 days after a complete submission.
In both countries the real timeline depends on preparation: property registration in Georgia, and company formation and operation in Armenia. Government fees for Armenia's new system from 1 November 2026 have not been published.
How are residents taxed in Georgia and Armenia?
Residents are taxed differently in the two countries. Georgia taxes individuals at a flat 20% on Georgian-source income. Armenia taxes its tax residents on worldwide income, at a flat 20% on most income, with dividends at 5% and royalties and property lease income at 10%.
Armenia levies no wealth tax, no inheritance or gift tax and no exit tax, and Armenian tax residence is triggered by 183 days of presence or a centre of vital interests in the country. Armenia participates in the OECD Common Reporting Standard. For an internationally invested family, the source rule in Georgia and the worldwide rule in Armenia can produce very different outcomes, so take qualified tax advice before you relocate.
Which country offers a faster path to citizenship?
Armenia offers the faster path to citizenship: discretionary naturalisation after 3 years of permanent residence actually lived in Armenia, plus the ability to communicate in Armenian and familiarity with the Constitution (Law on Citizenship, Article 13). Georgia requires 10 consecutive years of lawful residence, plus Georgian language and history tests.
Georgia also generally does not allow dual citizenship, so naturalising there typically means renouncing your existing nationality. Neither country offers citizenship by investment. If a second passport through investment is your goal, our guide to the best citizenship by investment programmes covers the options.
Can family members be included?
Family members can be included in both countries. In Georgia, a spouse and minor children are covered by the principal's single qualifying property or investment, with each person paying the standard permit fee. In Armenia, family members of a residence card holder apply for residence on the basis of their family relationship.
Minor children born to resident parents in either country do not acquire citizenship simply by being born there; both countries apply descent-based nationality principles.
Armenia vs Georgia residency by investment: side-by-side comparison
| Feature | Georgia | Armenia |
|---|---|---|
| Minimum investment | USD 150,000 real estate (short-term permit); USD 300,000 investment (5-year permit) | No fixed amount (MFA); registered, operating business required |
| New investor route | Not applicable | From 1 November 2026 (Article 29.6); amounts not published |
| Decision time | 10, 20 or 30 days (PSDA) | Up to 30 days (MFA) |
| Government fees | GEL 300 to GEL 600 per applicant | Not published for the new system |
| Personal income tax | Flat 20% on Georgian-source income | Worldwide income for tax residents; flat 20% on most income |
| Path to citizenship | 10 years' residence; dual citizenship generally not allowed | 3 years of permanent residence lived in Armenia (discretionary) |
| Family inclusion | Yes, spouse and minor children | Yes, on the basis of the family relationship |
Ready to compare these routes against your own priorities? Speak with our advisers. For investors from Russia and the CIS, our guide to Armenia residency for Russian and CIS investors adds further detail.
In summary
Armenia vs Georgia residency by investment is a choice between a published asset threshold and a business-based route. Georgia suits investors who want certainty: USD 150,000 in real estate or USD 300,000 of investment, decided in 10 to 30 days, with tax on Georgian-source income. Armenia suits entrepreneurs who will run a real business there, with no fixed amount, a decision in up to 30 days, worldwide taxation for tax residents and a 3-year naturalisation path, and a new investor route from 1 November 2026 whose terms are still to be published. Mirabello Consultancy can structure either route with Swiss precision. Book your free consultation.
Frequently asked questions
Frequently asked questions
What is residency by investment in Georgia?
Georgian residency by investment is a residence permit granted to foreign nationals who own Georgian real estate worth at least USD 150,000 (short-term residence permit) or who invest USD 300,000 (5-year investment residence permit), issued by the Public Service Development Agency.
What is residency by investment in Armenia?
Armenian residency by investment is, under the current system, a temporary or permanent residence card for foreigners who run a registered, operating business in Armenia, with no fixed amount set by the MFA. A new investor permanent residence route takes effect on 1 November 2026; its thresholds are not yet published.
Which is more cost-effective, Georgia or Armenia?
Georgia has a clear published entry point of USD 150,000 in real estate. Armenia has no fixed amount, but it requires a genuinely operating business, so the true cost depends on the business you run. The more cost-effective choice depends on whether you already have, or plan, real business activity in the region.
How long does it take to get residency in Georgia vs Armenia?
Georgia's PSDA decides in 10, 20 or 30 days depending on the fee tier chosen. Armenia's MFA states a decision in up to 30 days after a complete submission. Preparation time for the property purchase or the business set-up comes on top.
Which country offers a faster path to citizenship?
Armenia, with discretionary naturalisation after 3 years of permanent residence actually lived in Armenia, plus language and constitutional knowledge. Georgia requires 10 years of residence and generally does not allow dual citizenship.
Do I need to live in Armenia or Georgia to keep my residence?
Georgia sets no minimum physical stay to maintain the property-based permit, and Armenia's new investor card carries no presence requirement to keep it. Citizenship is different: Armenia requires 3 years of permanent residence actually lived in the country, and Georgia requires 10 years of residence.
How do I start with Mirabello Consultancy?
Book a free consultation on our consultation page. We review your goals, family and business situation and recommend the route that genuinely fits.
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