Estate planning is often overlooked when buying property abroad. The good news: Georgia has no inheritance tax. But the process depends on citizenship and how you hold the asset.
No inheritance or gift tax
Georgia levies neither inheritance tax nor gift tax. This covers everyone, including transfers of real estate and company shares.
Who can inherit
Under Georgian law, any individual or legal entity can be named an heir in a will, regardless of citizenship — including foreigners. So foreigners can inherit both property and business interests with no citizenship-based restrictions.
A wrinkle for foreigners
If the deceased was not a citizen of Georgia or a CIS country, the succession case is first handled in their country of citizenship, and only then are rights recognised in Georgia. This lengthens the process — factor it into your planning.
Owning through a company (LLC)
Property is sometimes held not by an individual but by a Georgian company (LLC). Pros: transferring a share is easier than transferring the asset itself, convenient with multiple owners or an investment portfolio. Cons: bookkeeping, reporting, possible corporate taxes on certain operations. For a single residential unit, direct individual ownership is usually simpler (on taxes, see the property-taxes article).
Practical tip
Draft a will that accounts for the laws of BOTH countries — Georgia and your citizenship — to avoid a conflict of jurisdictions. Decide "individual vs company" with a lawyer before buying: changing the ownership form later is more expensive.