Ajara - An attractive environment of investment
Owning property in Georgia also provides an opportunity for obtaining residency and legally managing the property. Batumi's strategic geographical location, situated between Europe and Asia, with access to sea, land, and air, adds further assets to the city's economy.
Ajara, known as the paradise of Georgia, is not only a popular tourist destination but also an attractive investment opportunity. In recent years, the region has garnered attention from foreign investors due to its strategic location and natural beauty.
Ajara - An attractive environment of investment
Located in the southeast of Europe, Georgia, and specifically its Ajara region, continues to be a lucrative destination for foreign investors. The region is witnessing a significant investment boom, with its economy growing at a remarkable pace. This has positioned it as an ideal location for launching new economic projects.
One of the most notable aspects of Georgia's appeal is its strategic location along the historic Silk Road, acting as a bridge between Western Asia and Eastern Europe. This positioning establishes Georgia as a vital crossroad between these two continents, opening up invaluable opportunities for imports, exports, international business, and foreign business investment.
The country shares its borders with the Black Sea, Turkey, Armenia, Azerbaijan, and Russia, and offers both sea and land access routes, making it a prominent transit corridor.
Georgia consistently ranks highly in the annual World Bank Group report on ease of doing business. This ranking signifies that the regulatory environment of the country is conducive to the commencement and operation of businesses. This attractiveness is further accentuated by the low business taxes in the country, including in Ajara. Hence, it's clear that Ajara provides a conducive and attractive environment for investments.
Georgia is home to four tax-free industrial zones situated in Poti (the seaport), Kutaisi (the third-largest city), and Tbilisi (the capital). The country boasts one of the most liberal working environments globally, making it an attractive destination for investors.
In Ajara, tourism stands as a key investment area, but other burgeoning sectors such as real estate, hospitality, manufacturing, and agriculture also present promising opportunities. Owing to its strategic geographical location and other factors, Ajara has garnered significant attention from foreign investors in recent years. Statistical data substantiates this trend, revealing a year-on-year increase in the number of foreign and foreign-Georgian enterprises registered in the region. Evidently, the region's natural environmental conditions, strategic location, and state support contribute to its attractiveness as an investment hub.
Here's why Ajara is a compelling choice for investment:
1. Stable and developing environment: Georgian legislation safeguards investments made and utilized within the country. After Tbilisi, Batumi is the most sought-after location in the country, owing to its rapid development.
2. Affordable real estate prices and rentals: Newly built properties with a sea view are priced at an average of $400 per square meter, considerably lower than most European countries. If you aren't planning on residing in Batumi permanently, you can always rent out your apartment and secure a stable income. This flexibility and potential for income generation enhance the appeal of investing in Batumi's real estate market.
3. Favorable property tax laws: Property tax stands at 0%. However, if you sell your property within the first two years of ownership, a 20% tax is payable to the government. Property registration is a swift process thanks to the efficient implementation of the 'one window' principle. Public Service Halls throughout the country, including the architecturally noteworthy Batumi Public service hall (designed by Italian architect Michele De Luca), ensure such procedures are carried out effortlessly. This innovative building, resembling an upside-down bottle, was opened on Georgia's Independence Day in 2011.
4. Pathway to Residency Permit: Owning property in Georgia can pave the way to obtaining residency and legally managing your property.
5. Strategic geographical location: Batumi's positioning between Europe and Asia provides an exceptional advantage. With access to sea, land, and air routes and proximity to the Turkish border, Batumi boasts a thriving economy. It houses an international airport and is connected by an international transit road.
These factors collectively enhance the attractiveness of Ajara as an investment destination, sparking interest from investors worldwide.
