Dollars, Lari and the Notary: How Money Actually Moves in a Georgian Purchase

A Georgian property purchase is normally settled in US dollars or lari by ordinary bank transfer, signed in front of a notary, and registered at the Public Registry within days. You do not strictly need a Georgian bank account to buy, though having one makes everything easier. The part that catches people out is not the transfer — it is that the price is a dollar number while almost everything after completion is a lari number.

Why is the price in dollars but the bills in lari?

Georgian property has been quoted in US dollars for years, because it is the currency foreign buyers and sellers both understand. But your utility bills, your building fee, your property tax and your rental income tax are all lari. Long-term rents are usually quoted in dollars too and paid in lari at the day's rate.

This matters in two places. First, a yield calculated in dollars against costs paid in lari is not a like-for-like number if the rate moves. Second, and more immediately, any contract that says a dollar figure without saying how it converts leaves the conversion to whoever is holding the money on the day.

Fix both in writing: which currency governs, and if payment is in the other one, the exchange rate to be used — typically the National Bank of Georgia's official rate on the payment date. One sentence removes an entire category of argument.

How does payment actually happen?

The usual sequence looks like this:

1. Get a Georgian tax ID. Available same-day at the Revenue Service, and needed for the transaction.
2. Open a Georgian bank account if you can. It is not compulsory but it simplifies paying the seller, the notary and the bills afterwards. See our guide to opening a bank account as a foreigner.
3. Send the funds, normally by international bank transfer into your own Georgian account first, then to the seller — not directly to the seller from abroad.
4. Sign at the notary. The notary verifies the documents and the parties, and Georgian notaries also have obligations around confirming the legitimacy of the funds involved.
5. Register at the Public Registry. Registration is fast and inexpensive, often completed within days.

For a first-time foreign buyer, two to three weeks from choosing a property to holding registered title is a realistic expectation once tax ID, due diligence, transfers and appointments are accounted for.

Kavlian's vetted specialists have walked foreign buyers through this sequence many times and can tell you what your bank will ask for before you start. It costs nothing.

What is source-of-funds paperwork and will I need it?

Banks and notaries may ask you to evidence where the money came from. This is ordinary anti-money-laundering practice, not suspicion of you, and it is far easier to satisfy before the transfer than after the money has landed and been frozen pending questions.

Have ready, in advance: bank statements showing the funds accumulating, a sale contract if the money came from selling something, employment or business income documents, and translations where the originals are not in English. Assemble this before you send money, not when you are asked.

Should I pay in dollars or lari?

Should I pay in dollars or lari?

Situation	Practical answer
Seller is a private individual	Usually dollars, by agreement. Fix the rate clause anyway.
Seller is a developer	Often lari for instalments. Ask what happens if the rate moves during the payment plan.
You will rent the property out	Your income will be lari. Holding some lari from the start is sensible.
You are paying a deposit	Whichever currency, but never before the registry check — see below.

The rule that protects the money

Never transfer a deposit before you have an up-to-date extract from the Public Registry showing who owns the property and what is registered against it. That single document is the difference between buying an asset and buying a dispute — we cover how to read it in our guide to the registry extract and the cadastral code.

Banking rules, documentation requirements and exchange practice change. Confirm current requirements with your bank and a Georgian advisor before moving funds.

FAQ

Can I buy without ever coming to Georgia?

Yes, through a power of attorney. The money still has to move through a compliant route, and the person holding the power of attorney should be chosen with far more care than the apartment.

Is there a purchase tax?

No. Georgia has no property purchase tax, which is one reason total transaction costs are low by regional standards.

Can I pay in cash?

Large cash payments create exactly the source-of-funds questions you want to avoid, and leave you with no clean record of having paid. A bank transfer is the paper trail.

Can I take the money out again when I sell?

Proceeds can be transferred out. The practical requirement is being able to show how you brought it in — which is another reason to keep the transfer documentation from the purchase.

Get the money side planned before you choose the apartment

Kavlian connects you with vetted specialists who handle this end of the process every week, at no cost to you. Talk to a specialist or browse listings in Tbilisi and Batumi.