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Relocating to Georgia from Canada: Your Stress-Free New Start in the Caucasus!
Are you considering moving to Georgia? Georgia offers attractive tax benefits and a liberal visa policy. But what really needs to be considered when relocating from Canada? Discover the key aspects and find out how GoMovin helps you every step of the way. For a personal consultation, contact us.
The topic short and concise
Are you considering moving to Georgia? Georgia offers attractive tax benefits and a liberal visa policy. But what really needs to be considered when relocating from Canada? Discover the key aspects and find out how GoMovin helps you every step of the way. For a personal consultation, contact us.
Are you considering moving to Georgia? Georgia offers attractive tax benefits and a liberal visa policy. But what really needs to be considered when relocating from Canada? Discover the key aspects and find out how GoMovin helps you every step of the way. For a personal consultation, contact us.
Are you considering moving to Georgia? Georgia offers attractive tax benefits and a liberal visa policy. But what really needs to be considered when relocating from Canada? Discover the key aspects and find out how GoMovin helps you every step of the way. For a personal consultation, contact us.
Dreaming of living in Georgia? Discover all about tax benefits, residence permits, and how GoMovin makes your move from Canada a breeze!
Dreaming of a new beginning in Georgia? A move to Georgia from Canada can be an exciting opportunity to benefit from tax advantages, low living costs, and a fascinating culture. But before you pack your bags, there are a few things to consider. This comprehensive guide provides you with all the important information, from tax aspects and visa requirements to practical tips for your move.
In recent years, Georgia has become a popular destination for expatriates, especially entrepreneurs and investors. The country attracts with its attractive tax system, liberal visa policy, and a growing economy. But even for individuals seeking a change of scenery, Georgia offers many advantages. At GoMovin, we support you in making your move to Georgia from Canada as smooth and stress-free as possible. With our expertise and global network, we are by your side at every step – from planning to arriving at your new home.
This article provides you with everything you need to know about your move to Georgia from Canada. We highlight the tax benefits, explain the various residence permits, give you insights into living costs and property prices, and show you how best to approach the logistics of your move. We also address the challenges that may arise in such a step and offer valuable tips on how to overcome them.
Optimise taxes: Benefit from Georgia's tax advantages
One of the main reasons many people choose to move from Canada to Georgia is the attractive tax benefits. Georgia has a territorial tax system, meaning that income earned outside of Georgia is tax-free for non-residents. This can be particularly advantageous for entrepreneurs and freelancers who operate their businesses internationally. According to Goodbye Matrix, you can live in Georgia and run your foreign businesses without having to pay taxes on that income.
The corporate tax in Georgia is only 15% and is payable only upon dividend distribution. Additionally, there is a withholding tax of 5% on dividends. This makes Georgia an attractive location for starting a company. For IT companies, there are even better conditions: they can benefit from a complete tax exemption (0% corporate tax & VAT) on foreign IT income. For more information on setting up a business in Georgia, see our article Moving to Georgia.
To bypass the 183-day rule for tax liability, Canadians can qualify as a High Net Worth Individual (HNWI). This requires either a minimum income of 200,000 GEL over the past three years or assets of at least 3,000,000 GEL in Georgia. Since April 2023, an additional requirement is a minimum balance of 500,000 USD in a Georgian bank account. However, it is important to note that the Double Taxation Agreement (DTA) with the USA is unilateral and can lead to a 30% withholding tax on US dividends, as Goodbye Matrix reports.
Secure a Visa: How to Obtain a Residence Permit in Georgia
For a long-term move to Georgia from Canada, you need a residence permit. Fortunately, Georgia offers various options for legal residency. One possibility is the visa-free entry, which allows you to stay in the country for a year without a visa. This provides you ample time to explore locally and plan the next steps.
If you wish to work in Georgia, you need a work permit. This requires that your Georgian company generates an annual turnover of 50,000 GEL per foreign employee. Alternatively, you can obtain a short-term investment residence permit by purchasing property worth at least 100,000 USD. For a long-term investment residence permit, a property purchase of 300,000 USD is required. The Public Service Halls are responsible for processing residence permits and long-term visas.
It is advisable to research the various options early and prepare the necessary documents. At GoMovin, we are happy to assist you with your residence permit application, providing support and advice. Further information on visa regulations can also be found on the website of the Georgian embassy in your country.
Company formation made easy: Seize business opportunities in Georgia
Georgia not only offers tax benefits, but also an uncomplicated company formation process. You can register your own company within just three days, and no minimum share capital is required. This makes Georgia an attractive location for start-ups and small businesses.
Particularly interesting are the conditions for IT companies. They can benefit from a complete tax exemption (0% corporation tax & VAT) on foreign IT income. However, other industries also benefit from a deferred corporation tax of 15%. For small businesses, there is also the possibility of applying for the status of a micro enterprise. In this case, you either pay no tax up to a turnover of 30,000 GEL or 1% tax up to a turnover of 500,000 GEL.
Setting up a company can also help you obtain a residence permit. However, note that managing foreign companies from Georgia can lead to misunderstandings of the territorial tax system, as Goodbye Matrix warns. We at GoMovin are happy to advise you on choosing the right legal form and assist you with all steps of company formation.
Living Cheaply: How to Organise Your Daily Life in Georgia
Another advantage of a move from Canada to Georgia is the low cost of living. Compared to Canada, the prices for groceries, rent, and services are significantly lower. This allows you a higher standard of living with the same budget. Also, property prices in Georgia are generally more affordable than in Germany and Canada, as Wise reports.
However, it is important to note that there are regional differences. The climate and lifestyle vary depending on the region. On the coast, for example in Batumi, there is a mild climate, while in the mountains it can be considerably cooler. The capital Tbilisi offers good infrastructure and modern amenities, whereas life in rural areas is often simpler and more traditional. In Tbilisi and Batumi, there are private clinics that offer a higher standard, as highlighted by Wise.
Therefore, before deciding on a particular location, you should thoroughly research and ideally see it for yourself. We at GoMovin are happy to help you find suitable accommodation and provide valuable tips for your daily life in Georgia.
Planning a Move: Logistics Tips for Your Transport from Canada to Georgia
Logistical planning is an important aspect when moving to Georgia from Canada. You need to decide how you want to transport your belongings. For smaller shipments, LCL shipping (Less than Container Load) is a suitable option. In this case, your cargo is transported together with other shipments in a container.
Henk International offers bespoke wooden crates for LCL shipments and takes care of customs clearance, delivery, unpacking, and disposal of packaging materials. For moving an entire household, the FCL shipping (Full Container Load) with a 20, 40, or 45 ft container is recommended.
Regardless of the size of your shipment, customs clearance is necessary. Therefore, find out about the applicable regulations early on and prepare all necessary documents. At GoMovin, we support you with the planning and execution of your move and work with reliable partners to ensure smooth transport. For more information on the topic of moving, please see our article Umzugshilfe.
Overcoming Challenges: What to Consider for Your Move
A move to Georgia from Canada is a significant step that requires careful consideration. Alongside the benefits, there are also some challenges you should be aware of. An important aspect is understanding the territorial tax system to avoid misunderstandings. Also note that withholding taxes of 10-15% may apply to foreign services.
It is advisable to take out health and car insurance to be covered in case of illness or accidents. The language barrier can also be a challenge, as Georgian is the official language. Basic knowledge of the language is advantageous, but you can also communicate in many situations with English. It is recommended to connect with other expats before the move to share experiences and make contacts.
Here are some important points to consider before your move to Georgia:
Understanding the territorial tax system: Research the tax regulations thoroughly to avoid misunderstandings and unexpected tax payments.
Taking out necessary insurance: Ensure you have comprehensive health and car insurance to be covered in emergencies.
Networking with expats: Join expat groups and connect with other expatriates to receive valuable tips and support.
We at GoMovin are here to assist you with our experience and expertise in overcoming these challenges. Further tips and advice can be found in our article Auswandern – Tipps für einen gelungenen Start im Ausland.
Braving a New Start: Georgia as an Opportunity for Emigrants from Canada
A move to Georgia from Canada can be a rewarding experience. The country offers potential for a tax-optimised lifestyle and interesting business opportunities. With careful planning and preparation, you can overcome the challenges and enjoy the benefits of living in Georgia.
Georgia has become an attractive destination for expatriates, especially for entrepreneurs and investors. The country attracts with a liberal economic climate, a growing economy, and a fascinating culture. Georgia also offers many advantages for individuals seeking a change of scenery.
We at GoMovin support you in making your dream of living in Georgia a reality. With our expertise and global network, we are by your side every step of the way—from planning to arriving at your new home. Contact us today for a non-binding consultation and find out how we can assist you with your move to Georgia from Canada.
Are you ready for your fresh start in the Caucasus? We are happy to help! Contact us today and let's plan your move together.
Further useful links
Canadian Ministry of Foreign Affairs offers travel advice for Georgia.
OECD offers an international statistics portal called Better Life Index.
FAQ
What tax advantages does relocating to Georgia from Canada offer?
Georgia offers a territorial tax system, which means income earned outside Georgia is tax-free for non-residents. This can be particularly attractive for entrepreneurs and self-employed individuals.
How do I obtain a residence permit in Georgia?
You can stay in Georgia visa-free for one year. For a longer stay, you will need a work permit (annual company turnover of 50,000 GEL per foreign employee) or an investment residence permit (property purchase from 100,000 USD).
How straightforward is it to start a business in Georgia?
Starting a business in Georgia is straightforward and takes just three days. There is no minimum share capital required. The conditions are particularly appealing for IT companies, which can benefit from complete tax exemption.
How do the living costs in Georgia compare to Canada?
The cost of living in Georgia is significantly lower than in Canada. This particularly affects food, rent, and services.
How do I plan to transport my household goods from Canada to Georgia?
For smaller shipments, LCL shipping is recommended. For moving your entire household, FCL shipping with a container is advisable. Customs clearance is required in any case.
What challenges should I consider when moving to Georgia?
It's important to understand the territorial tax system to avoid misunderstandings. Also, note that withholding taxes may apply to foreign services. It is advisable to take out health and car insurance.
How can GoMovin support me in my move to Georgia?
GoMovin offers an all-in-one solution for international relocations with personal consultation, legal support, real estate services, and cultural integration. We assist you at every step – from planning to arriving in your new home.
What role does the double taxation agreement between Canada and Georgia play?
It is important to examine the details of the double taxation agreement between Canada and Georgia to ensure you meet your tax obligations correctly and avoid double taxation.
