Completion Time Frame: 1 day
Completion Costs: GEL 50
Points to Note:
The buyer pays the registration fee of GEL 50 at a commercial bank to the specifically designated account of the Public Registry and a receipt is presented upon filing of all other documentation. Theoretically, it should be possible to transfer the amount from any commercial bank, although, practically, it may be problematic. It is therefore advisable to make the payment through the specific commercial bank, indicated by the Public Registry.
The 2% Immovable Property Transfer Tax has been abolished with the introduction of the new Land Code of Georgia. It has been replaced by the “Income Tax” for physical persons, and the “Profit Tax” for legal entities. These are capital gains taxes. According to changes in tax code (Law of Georgia-changes and additions in Tax Code enforced 2006, 8 December), for persons, the income tax is 12% of the difference between the sell and purchase price in case the time period beween the purchase and sales of the property is less than 2 years; for enterprises, the profit tax is 20% of the income gained from the sale of the property.

Step 2: Register the purchaser’s title with the district Public Registry

Completion Time Frame: 2 days
Completion Costs: Already paid in Step 1
Points to Note:
The buyer applies to the National Public Registry and signs the agreement. The buyer must apply for registration no later than 15 days following the execution date. The sale purchase agreement is not required to be notarized, as of the amended Civil Code of March 2007, clause 183.– no notarization is required. The extract can be obtained online prior to the visit to the Registry or the clerks can check it through their databases on the spot.. All properties in Tbilisi are being systematically transferred into the database and most of them are already in it. In the rare case that the property is not in the database the NPR staff will check the hard copy files (but that will not delay the process).
The Public Registry may take up to 4 business days following the date of filing to conduct registration and issue an Ownership Certificate. According to the law on service fees established by NAPR on 11.05.2007, the options for expedited procedures has been replaced with a standard fee of GEL 50.
Property transfers were subject to a 20% VAT until July 2005. Then, it was cut to 18%. The transfer of land without buildings is not subject to VAT.

The documentation shall include:
(i) Application, signed by the director of the purchaser;
(ii) Notarized copies of purchaser’s Charter and of a valid Entrepreneurial Registry Excerpt;
(iii) Sale and Purchase Agreement;
(iv) Receipt confirming payment of the IPTT;
(v) Receipt confirming payment of Public Registry registration fee.