Citizenship by Investment Program Review: Georgia 🇬🇪

welcome back everyone michael here with offshore citizen today we're continuing our citizenship by investment reviews so if you haven't already you can check out i reviewed a bunch of the uh other ones earlier so i went over vanuatu turkey malta i don't remember if there's any other that are posted by this point in time but today we're going to talk about georgia okay so this is going to be our first unofficial citizenship by investment review that i'm going to talk about these are ones that i don't normally talk too too much about a variety of different reasons for that but we're going to go through and we're going to review it for you here i'll explain to you how it works it's kind of interesting in part because it's been on again off again so for people who are interested they should probably take advantage of it while it is on in case it might disappear i'll explain to you a little bit about kind of what has gone on in the throws back and forth on on this so anyway if you're at all interested in this subject you know stick around i'm going to explain it to you i'll tell you my perspective on it compared to the other programs out there whether i think it's good whether i think it's bad what i think the pros are what i think the cons are the types of people who are attracted to it and going for it so like i said stick around before we get into it though please hit the subscribe button hit the notification bell if you haven't already uh make sure you don't miss out on any of our videos really appreciate when you do that uh if you like the video give it a thumbs up and if you're at all interested in citizenship by investment program citizenship by donation uh you know getting a second passport getting residencies moving abroad optimizing your tax etc reach out to us you can book a call with me clarity.fm forward josh michael rosmer there's a link in the description below or you can check out our websites offshorecitizen.net offshorecapitalist.com and you can send us a message through there okay let's get started so for those of you who don't know georgia is kind of a i don't know what you would call it it's it's questionable whether it's european or not they there's some they would consider themselves european i think culturally it's more european than it is asian but it's kind of like on the very border of where asia and europe meet and so you know it's a little bit questionable in terms of which one you want to categorize it as but certainly culturally i would say it is more european they've got fantastic wine definitely they're kind of like the foundation of wine i love the wine there uh it's an inexpensive place to be is a place that in a bunch of regards is really developing up and coming uh of the former kind of soviet states they had a really effective anti-corruption regime that they did back a number of years ago and there's still kind of some like positive momentum that has come out of that which is great they've eliminated a lot of bureaucracy they made things work quite well tried to model themselves after singapore and kind of moved to some extent in that direction certainly not the same but yeah very interesting interesting place to go and i've done some videos on that in the past so they have a it's like a citizenship by exception i guess you would call it uh programs it's not an official citizenship by investment program meaning you can't go out onto some website and find it etc it's based on contribution that you make to the country of georgia and the endorsement by significant georgians so that's how it works it is one that has it was open for some period of time and then maybe for like the last year and a half or so it ended up not being available in particular what had happened was they'd added the requirement that you had to do a georgian language test which is normally part of the process of becoming a citizen of georgia if you have to do this language if you go through the naturalization process and you know who's going to learn the georgian language i mean they have their own alphabet which is kind of cool but you know not so practical for most people so that kind of had killed it off however it is back which is excellent we always like when there's extra options so you don't have to do a language test and actually for the first time ever it's possible to do it without visiting georgia you can visit a georgian embassy and so that that is also really good so let's go through the situation here so let's talk about visa free travel first georgia has i think it's 114 countries of visa free travel or visa on arrival access it's like a mid-tier passport so it's certainly not great it's definitely not a top-tier passport it's not a terrible passport either it's kind of mid-tier so to give you some idea you get the schengen zone which is great you do not get uk you do not get ireland you do not get russia you do not get china kind of surprising that you don't have russia given the geographic location but you don't you do get brazil which is one that sometimes people are interested in and you get a decent portion of south america it's not great for central america you don't get mexico canada or the u.s you don't get australia new zealand or japan so of some of the countries that are typically a little bit harder to get to it doesn't have great coverage there but it gives you you know a lot of people are interested because it has the shin gun access right and then a lot of the other places like it has decent southeast asian access so that's good and you know so pros pros and cons i would say it's you know like it's not a great passport it's it's an okay passport right however because of the fact that it's an unofficial program and because of the fact that uh you know people from there might be more culturally similar to where you're from depending on where you're from uh some people really like this so the basic idea is if you look at a place like vanuatu i've done a review on their program before okay it's an easy passport to get not too terribly expensive etc but because of that it's kind of got blacklisted and so if you show up at a bank in singapore with a vanuatu passport that's not likely to work out so well for you right georgia you're not going to have any issues right so there's kind of this old expression of hey listen you might show up at a swiss bank with you know some caribbean passport and they're going to look at you and say great you know where's your other passport you know now it's possible you renounced or something like that but you know this is a little bit of a stigma that you're not going to get from georgia because georgia doesn't have an official program so we like that okay so in terms of visa free access kind of middle of the road better than turkey worse than you know malta by far in terms of kind of reputation of the passport we like it it's good you know georgians don't have any issues in that regard uh we find that for banking etc works out very well in terms of speed you can get it very fast like two months okay so very quick process right now which is excellent we like that a lot uh in terms of cost you're typically going to pay 190 to 200 000 uh just depending on what kind of the individual circumstances are now that is a donation uh so that goes away uh however that is also inclusive of all the fees so if you were to look for example at some of the caribbean ones that maybe they're 150 000 donation but by the time you've paid the fees it's you know 165 170 like somewhere in that range so here this is an all-in price uh for that price you can also have uh some dependents in there so again when you consider that it's actually quite a quite a reasonable deal so from a price standpoint i would say it's not like the most price competitive but it's pretty decent it's not like you have a crazy crazy cost and so it works out fairly well so that's uh in regard to cost uh what about in terms of you know would you want to go live there right so it turns out that georgia actually has a pretty good tax system so if you were in a situation you already actually wanted to live there i think one of this is one of the other advantages that people like about georgia as a passport to get as compared with say some of the caribbean ones is like are you gonna go and live in antigua probably not right probably not ever like most people will just never go same thing with vanuatu whereas georgia you may actually go live there you may actually go invest there etc and so that could have a benefit for you so i think georgia is a reasonable kind of middle of the road passport if you want to get something fast it works pretty well it's open to you know a lot of people from around the world the price is you know not super cheap by any stretch but definitely not super expensive either and the reputation of it is quite good so yeah i would put it kind of in that category let me know what you guys think and i'm going to continue to review these different programs i'm going to go through and explain again some of the other unofficial ones as well as we're going through all the rest of the official ones so stay tuned for those if you haven't already smash the subscribe button hit the notification bell make sure you don't miss out and if you have any interested in you know being helped out with second citizenships residencies tax planning et cetera reach out to us again you can book a call with me according to my family michael rosberg give the video a thumbs up and i'm going to see you guys on the next video

Channel: Offshore Citizen

Views: 3,380

Rating: 4.9210525 out of 5

Keywords: Citizenship by investment, CBI program, Unofficial citizenship by investment program, Citizenship in Georgia, buy passport in Georgia, Tbilisi Georgia, Georgian passport, Russia, Ukraine, Malta, Cyprus, Montenegro, passport review, passport ranking, UAE, how to buy a passport

Id: nqPq32tqrCI

Length: 9min 17sec (557 seconds)

Published: Sat Jan 30 2021