Buyer guide
Buying Tbilisi Real Estate as a Foreigner: A Mortgage Guide
Buying an apartment in Tbilisi with a mortgage involves three separate decisions: whether the property is suitable, whether a bank will finance your circumstances, and whether the total cost fits your budget. This guide explains ownership, borrowing, documents, registration, taxes and residency without treating advertised terms as an approval promise.
1. Tbilisi property and foreign ownership
Foreign buyers can generally own residential apartments in Georgia without first obtaining a Georgian residence permit. Ownership and the right to reside are separate legal matters. A purchase does not automatically provide immigration status, and eligibility to own does not establish eligibility for a mortgage.
Agricultural land is subject to special ownership restrictions. For a house, suburban plot or mixed-use property, check the registered land category rather than assuming that a residential building makes the underlying land non-agricultural. The Organic Law on Agricultural Land Ownership is the legal starting point.
Evaluate the actual apartment: location, condition, finishing, construction status, developer obligations, management charges and comparable rents. Citywide averages are not a valuation of your unit. Rental income is not guaranteed; vacancies, repairs, tax, management costs and debt payments reduce the amount you keep. Use dated market research for context, not as a promise of future returns.
2. Can a foreigner obtain a Georgian mortgage?
A foreign applicant may be considered for financing, but each bank decides eligibility. Citizenship, residence, income country, income currency, employment history, existing debts, property value and source of funds can affect the result. A product for Georgian emigrants is not necessarily available on the same terms to a foreign citizen.
Use the following comparison as an application checklist, not a rate ranking or a list of guaranteed offers.
| Bank or channel | What to request | What must be confirmed |
|---|---|---|
| TBC Bank | Assessment of documented foreign income | Nonresident eligibility, age at final repayment, term, currency and all fees |
| Bank of Georgia / SOLO | Mortgage assessment; personal banking if appropriate | Foreign-citizen criteria and whether a premium account changes anything beyond service |
| Liberty Bank | Relevant mortgage or emigrant product | Whether your citizenship and income qualify; the applicable currency-specific term |
| Basisbank | Mortgage product suitable for your situation | Whether an emigrant offer applies to a non-citizen; amount, collateral and repayment term |
| Credo Bank | Assessment of salaried or self-employed income | Accepted evidence, eligible currency, total cost and security requirements |
Do not rely on a published maximum amount or minimum income as an entitlement. Request a written, personalized offer showing the effective interest rate, repayment schedule, fees, insurance, early-repayment conditions and circumstances that can change the offer. Bank information: TBC, Bank of Georgia, Liberty, Basisbank and Credo.
3. Down payment, valuation, interest and currency
Your contribution depends on the bank's loan-to-value limit and its valuation, not only the agreed purchase price. Keep separate budgets for your deposit, valuation gap, legal work, registration, insurance and any furnishing or renovation.
Illustrative valuation gap — not a bank offer: A property costs USD 100,000. If a bank values it at USD 90,000 and agrees to lend 80% of that valuation, the loan is USD 72,000. The buyer needs USD 28,000 toward the price, plus transaction costs. A 20% deposit calculated from the sale price would not be enough.
Compare nominal and effective interest rates. The effective rate captures relevant borrowing costs under the applicable calculation rules; ask which insurance, account and appraisal charges are included and which remain separate. A floating-rate contract also needs a clear explanation of its reference index, bank margin, reset frequency and any floor. Do not assume that every GEL, USD or EUR mortgage uses the same benchmark or fixed period.
| Currency | Main consideration | Question for the bank |
|---|---|---|
| GEL | A different income currency creates exchange-rate exposure | What happens to payments if GEL strengthens against my income currency? |
| USD | GEL rental income may buy fewer dollars if GEL weakens | Does my income qualify me for this currency under current rules? |
| EUR | Income and loan currencies may still differ | What are the index, margin and conversion charges? |
Older 200,000/400,000 GEL currency thresholds should not be used as current rules. NBG restrictions distinguish unhedged borrowers from those with qualifying foreign-currency income and have changed over time. Obtain confirmation for your loan amount and income currency from the bank and consult the National Bank of Georgia. Currency movements can help or hurt; a GEL mortgage is not a guaranteed devaluation hedge.
Developer installments may be an alternative, but “0%” does not automatically mean the same cash price or no economic cost. Check the total price, deposit, installment dates, construction-delay terms, final balance and refund/default clauses. A future mortgage to settle that balance is a new credit decision, not a promised exit. See Payment Options.
4. Bank account, KYC and international transfers
Ask your chosen lender which local account is required to disburse and service the mortgage. Account-opening requirements and remote options depend on the institution and your circumstances. Do not book a trip based on a guaranteed one-day opening or a universal one-to-two-week purchase timeline.
Prepare a consistent document trail:
- Identity: valid passport, contact information and any residence or tax-residence documents requested.
- Income: employment contract, payslips, tax returns or business accounts appropriate to your situation.
- Bank history: statements for the period requested by the bank, including the source of your contribution.
- Transaction purpose: property details, cadastral code and draft purchase agreement where available.
- Language requirements: translations, certification or legalization when specifically requested.
Agree account fees, transfer costs, exchange spreads and the documentation needed before sending a large SWIFT payment. Transfers may be delayed by intermediary banks, missing references or additional compliance questions. Neither a premium account nor an introduction guarantees faster approval.
Crypto-related funds: Do not assume automatic acceptance or an automatic legal ban. Ask the receiving bank in advance whether it will accept your documented source of funds. Converting crypto to fiat does not remove its origin or documentation obligations. Never conceal that origin or split transfers to bypass checks.
Read the Money Transfer Guide.
5. Purchase and Public Registry registration
- Review the registry extract. Match the cadastral code, seller, registered ownership, property description and encumbrances. Resolve existing mortgages, restrictions or disputes before committing funds.
- Coordinate financing. Arrange valuation and conditional approval; confirm how and when the bank releases money and registers its security.
- Review the agreement. Specify the property, price and currency/payment mechanism, finishing, handover obligations, deadlines and remedies. Have a qualified lawyer explain the Georgian legal text and any bilingual version.
- Plan settlement. Confirm verified beneficiary details and the sequence of signing, payment, ownership registration and mortgage registration. Do not assume every transaction uses escrow.
- Register and read back. Submit the required documents to the Public Registry and obtain the updated ownership extract. Check the registered owner and any agreed bank mortgage after completion.
A representative may act under an appropriate power of attorney; overseas documents may need notarization, apostille/legalization and Georgian translation. Confirm the exact requirements before relying on a remote purchase.
Older 50–200 GEL registration figures are outdated. The standard ownership-registration service lists 150 GEL for four business days, 270 GEL for one business day and 350 GEL for the same day. Confirm the applicable service and any additional charges on the Public Registry fee page. Processing speed is not a promise that your entire purchase can finish in that time.
6. Transaction costs and property taxes
Budget for registration, legal/translation/notarial work where needed, valuation, bank fees, insurance and ongoing ownership costs. “No transfer tax” is not the same as “no transaction costs.”
Under the Tax Code of Georgia, individuals may qualify for a 5% residential-rental income regime under specific conditions. Commercial use, deductions, landlord registration and who rents the property can affect treatment; do not apply the rate automatically to every rental business.
Annual individual property-tax treatment depends on the legally defined family income, property type and exemptions. The commonly cited 40,000 GEL family-income threshold does not remove every tax obligation, especially those relating to land. Ask a tax adviser to establish what income is counted for a nonresident family and what declarations are due.
The Code also provides an exemption for qualifying gains on a residential apartment or house held for more than two years. A shorter holding period may create taxable surplus income; the precise ownership dates, property use and taxpayer status matter. Your home country may separately tax rental income or gains. See the Property Tax Guide.
7. Property ownership and residence permits
Buying an apartment does not automatically grant residence. Property-based short-term permits and investment permits are different routes with valuation, lawful-stay, documentation and continuing-eligibility requirements. The property-based rules changed in 2026; do not rely on an older USD 100,000 headline or assume a property purchase date alone guarantees transitional treatment.
Ask the Public Service Development Agency to confirm the current threshold, whether it must be exceeded rather than merely met, qualifying property types, appraiser requirements and any transition applicable to your own application. The investment route is also conditional; it is not immediate permanent residence. Family eligibility and renewal requirements must be checked separately.
Official references: Public Service Development Agency and the Law on the Legal Status of Aliens and Stateless Persons. See Residency by Investment and obtain individual immigration advice before selecting a property mainly for this purpose.
8. Final buyer checklist and next steps
| Stage | Evidence or decision to have ready |
|---|---|
| Property selection | Registry extract, condition/finishing assessment and full purchase budget |
| Bank assessment | Passport, income and bank records; written eligibility and cost breakdown |
| Funding | Deposit plus valuation-gap allowance; accepted source-of-funds evidence |
| Agreement | Reviewed contract, payment sequence and any power of attorney |
| Completion | Updated ownership extract, bank security and payment records |
| After purchase | Insurance, servicing instructions, tax obligations and separate residency assessment |
Expat Home Georgia helps buyers coordinate property selection, developer negotiations, documents and contact with bank representatives. Buyers pay no commission to Expat Home Georgia and no property-price markup for its involvement; developers pay the commission. Banks alone decide lending and approval.
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This article is general information, not personalized financial, legal, tax or immigration advice. Bank products and rules can change. Confirm the current written terms and official requirements before signing or transferring money. Images are generated editorial illustrations, not actual advertised properties or client transactions.