Georgia Wealth Tax Guide 2026

Overview — No Wealth Tax in Georgia

Georgia has deliberately avoided introducing a wealth tax as part of its pro-business, low-tax policy framework. Successive governments have maintained this position, recognising that the absence of wealth taxes attracts international investment, skilled professionals, and high-net-worth individuals. There is no:

• Annual net wealth tax
• Net worth tax
• Solidarity surcharge
• Tax on financial assets or bank deposits
• Tax on investment portfolios or securities holdings
• Tax on precious metals, art, or collectibles held as investments

The only annual tax related to wealth is the self-assessed property tax on real estate. This is a relatively modest charge, typically 0.1–1% of the self-declared value.

Property Tax — The Only Wealth-Related Tax

The annual self-assessed property tax is the closest Georgia has to a wealth tax, but it is limited to real estate only. Key features:

• Rate — 0.1% (agricultural) to 1% (commercial) of self-declared value
• Scope — land and buildings only
• Self-assessment — owner declares the value (not market-based valuation)
• No threshold — applies to all property regardless of value
• Deductible — property tax is deductible against rental income if the property is let

Even for high-value properties, the annual tax burden is modest. A GEL 1,000,000 residential property in Tbilisi would incur annual property tax of approximately GEL 4,000–8,000 (0.4–0.8%), which is low by international standards.

Taxes on Assets vs. No Wealth Tax

While Georgia has no annual wealth tax, it does impose transaction and income taxes on assets:

• Property tax — 0.1–1% annual on self-assessed property value (only wealth-like tax)
• Capital gains — 20% (individuals) or 15% (companies) on gains from Georgian assets
• Rental income — 20% on net rental income from Georgian property
• Dividends — 0% (first GEL 100K) then 5% from Georgian companies
• Interest — 5% WHT on Georgian-source interest

These taxes apply when an asset generates income or is sold — not on the mere holding of the asset. Foreign assets held by Georgian residents generate no Georgian tax at all (territorial system).

International Comparison

Georgia's status as a no-wealth-tax jurisdiction places it in a select group of European countries. For comparison:

• Norway — 1.1% wealth tax on net assets above ~€170K
• Spain — 0.2–3.5% wealth tax on net assets above €700K (varies by region)
• Switzerland — cantonal wealth tax up to 0.5% on net assets
• France — 0.5–1.5% real estate wealth tax on property above €1.3M
• Georgia — 0% wealth tax

This makes Georgia an excellent jurisdiction for international investors, entrepreneurs, and retirees seeking to preserve wealth. The territorial system extends this benefit by ensuring that foreign assets held by Georgian residents are not subject to any Georgian tax.

FAQs

Do I need to declare my assets annually in Georgia?

No, there is no annual wealth declaration requirement for tax purposes. The only asset-related filing is the property tax return (self-assessment of real estate value).

Are there any plans to introduce a wealth tax in Georgia?

The government has consistently stated that it has no plans to introduce a wealth tax. The policy direction remains focused on low, simple taxes to attract investment and talent.

Do I pay tax on foreign bank accounts or investment accounts as a Georgia resident?

No, foreign assets and foreign-source investment income are exempt from Georgian tax under the territorial system. There is no reporting requirement for foreign accounts (though your home country may require reporting).

Disclaimer

This guide provides general information about wealth taxation in Georgia for the 2026 tax year. Tax laws may change. Always consult with a qualified Georgian tax advisor or the Georgia Revenue Service for advice specific to your situation. InvestmentKit does not provide tax advice.