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Georgian Official Introduces €250,000 “Special Contribution Citizenship Program” in Beijing · IMI Podcasts

• 0:00
  SPEAKER_00: Georgia has evidently launched a citizenship program, curiously dubbed the Georgia Special Contribution Citizenship Program.
• 0:09
  SPEAKER_00: During a presentation in Beijing today, Deputy Foreign Minister Alexander Kavtisyashvili unveiled the program, where Georgia Growth Fund LLC, referred to as GGF, claimed exclusive rights to operate it.
• 0:24
  SPEAKER_00: Georgia's Ministry of Economy formalized a memorandum of understanding with Georgia Growth Fund, requiring the company to attract$1 billion in Chinese investment over five years.
• 0:36
  SPEAKER_00: The MOU, signed on December 18, 2024, requires that GGF secure$60 million in Chinese investment during its first year.
• 0:46
  SPEAKER_00: The ministry pledges to support these objectives within its competence and Georgian legal framework.
• 0:52
  SPEAKER_00: The program's basis appears to be Article 17.2 of Georgia's nationality law, which gives the president the authority to grant citizenship by way of exception to a citizen of another country who has made a contribution of exceptional merit to Georgia, or based on state interests.
• 1:12
  SPEAKER_00: According to the MOU, GGF will submit annual reports on achieved results, investment amounts, and investor details.
• 1:21
  SPEAKER_00: The presentation in Beijing outlined three investment tiers.
• 1:51
  SPEAKER_00: The fund claims early investors will be eligible for exclusive discount benefits, though it does not specify the timeframe or conditions.
• 2:00
  SPEAKER_00: GGF maintains that the legal foundation for this program lays in Georgia's organic law on citizenship.
• 2:07
  SPEAKER_00: During the presentation in Beijing, Kati Siashvili described a six-step application process, submit required documents and pay legal fees, undergo a background check, and receive preliminary approval, transfer investment funds to the designated account, submit a formal application to the public service hall, obtain final approval, travel to Georgia for biometric registration, and passport issuance.
• 2:36
  SPEAKER_00: A source in attendance in Beijing, speaking on condition of anonymity, told IMI that the basic application documents include birth certificate, marriage certificate, police clearance, passport, passport-sized photos, power of attorney application forms.
• 2:54
  SPEAKER_00: The source noted two key points.
• 2:57
  SPEAKER_00: The program does not require source of funds verification, and Taiwanese nationals cannot apply.
• 3:04
  SPEAKER_00: While the memorandum specifically tasks GGF with attracting Chinese investment, Article 17.2 of Georgia's citizenship law contains no nationality restrictions.
• 3:16
  SPEAKER_00: The law applies broadly to foreign investors who meet economic contribution requirements.
• 3:21
  SPEAKER_00: This creates an apparent divergence between GGF's Chinese investment mandate and the underlying legal framework's universal application.
• 3:31
  SPEAKER_00: Neither the ministry nor GGF has clarified whether the program accepts applications from non-Chinese investors.
• 3:38
  SPEAKER_00: IMI has reached out to GGF and Deputy Foreign Minister Kovtisiashvili to get more clarification on this and other issues regarding the program, such as what is the processing time?
• 3:49
  SPEAKER_00: Can investors add their family members to their application, and if so, whom can they add?
• 3:55
  SPEAKER_00: Will there be an online application portal or dedicated website for information?
• 4:01
  SPEAKER_00: Is there a cap or limit on the number of investors?
• 4:04
  SPEAKER_00: How did GGF obtain the exclusive right to market this solution?
• 4:08
  SPEAKER_00: Who controls GGF, the Georgian government or some other entity?
• 4:13
  SPEAKER_00: What role is played by Fast Profit Corporation Limited?
• 4:17
  SPEAKER_00: Why is it being launched and marketed only in China?
• 4:21
  SPEAKER_00: GGF offers minimal public information about its operations, shareholders, or employees.
• 4:26
  SPEAKER_00: Their website blocks team information behind partner login credentials.
• 4:31
  SPEAKER_00: IMI has obtained images showing Fast Profit Corporation Limited, authorizing agents for the program but could not find information regarding the company online.
• 4:42
  SPEAKER_00: According to IMI's anonymous source, Fast Profit's parent company, Beautyland LLC, owned by Yuhao Duan, operates 13 global offices with 300 employees.
• 4:55
  SPEAKER_00: We could not independently verify these claims.
• 4:58
  SPEAKER_00: IMI has received conflicting reports about the program's legality, as some sources question its authenticity.
• 5:05
  SPEAKER_00: We could not verify these claims either.
• 5:08
  SPEAKER_00: IMI will update this article as additional information emerges.
• 5:13
  SPEAKER_00: This episode first appeared as an article by Amada Bas on IMIDAily.com.
• 5:20
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• 5:28
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