Georgia braces for a new wave of Russians fleeing mobilisation Article by Vladimir Tskhvediani

Rumours of a new mobilisation in Russia have once again fuelled interest among Russians in moving to Georgia. But while people fled through the Upper Lars border crossing in panic in autumn 2022, potential newcomers are now researching housing, living conditions and opportunities to settle in advance.

Georgia attracts Russians not only because of its natural environment, but also because of its developed infrastructure, relatively limited bureaucracy and the possibility of staying in the country legally for an extended period. Although Georgian legislation has tightened employment rules for foreigners, and the minimum property value required to obtain a residence permit was raised to $150,000 on March 1, 2026, Russian citizens can still settle in Georgia considerably more easily than in many other countries.

Russian citizens can enter Georgia visa-free and stay in the country for up to one year. After that, many who have not obtained a residence permit make what is known as a visa run — a short trip abroad followed by re-entry into Georgia to renew their legal stay. Russian citizens typically cross into Türkiye at Sarpi or into Armenia at Sadakhlo before returning to Georgia. Their period of legal stay then starts anew, allowing them to remain in the country for almost another year.

No other country offers Russian citizens such convenient conditions for long-term legal stay as Georgia. In Belarus, Russian citizens who stay for more than 90 days are required to register temporarily, while remaining in the country beyond that period requires a residence permit or a temporary residence permit (RVP).

There are also indirect signs that in recent months, an increasing share of tourists from Russia have been staying in Georgia for extended periods and effectively becoming long-term residents. For example, the volume of ruble-denominated deposits in Georgian banks surged in July 2026, rising by 32.9% month on month and 48.4% compared with July last year to reach 98.6 million lari. Although ruble deposits still account for a very small share of Georgia’s banking market — around 0.13% of all deposits — it is clear that most of these funds belong to Russian citizens.

Of course, Russians who have moved to Georgia generally prefer to keep most of their money in local banks not in rubles, but in the national currency, the lari, or in US dollars and euros. Cryptocurrency is also particularly popular among those working in the IT sector. IT professionals are increasingly choosing to keep their savings in digital assets, especially as cryptocurrency is relatively convenient to use in Georgia. Crypto ATMs are available in Tbilisi, Kutaisi and Batumi, allowing users to quickly convert cryptocurrency into lari or pay directly for goods and services.

According to estimates by international financial experts, Georgia has become one of the world’s most crypto-friendly countries, ranking fourth after Hong Kong, the United States and Switzerland. Russians who have moved to Georgia and actively use cryptocurrency have also contributed to this trend. At the same time, the popularity of cryptocurrency among them has been driven by restrictions on international transfers from Russia introduced following the imposition of sanctions. Cryptocurrency helps circumvent these barriers by enabling fast and relatively inexpensive transactions.

A new influx of Russians relocating to Georgia will inevitably contribute to the wider use of cryptocurrency in the country, the creation of new jobs and the development of related technologies. The IT sector could also receive an additional boost from Russian newcomers, as it has become one of the country’s main drivers of economic growth in recent years.

Those Russian citizens with sufficient financial means are also actively looking to purchase property in Georgia. This is likely to contribute both to further price growth in the real estate market and to the continuation of the construction boom, particularly in coastal areas popular with Russian tourists and those relocating to the country.

In Tbilisi, more than 88% of homebuyers are Georgian citizens, while foreigners account for just over 11%. In Batumi, however, Georgian citizens currently account for around 47% of purchases in the primary housing market, with foreigners responsible for the majority of sales. Demand from Russians relocating to Georgia could push apartment prices higher in both Tbilisi and Batumi, where prices for new-build properties have risen by 9–10% over the past year.

As in autumn 2022, Russians relocating to Georgia are already beginning to affect the rental market by significantly driving up demand. According to real estate agents, demand for apartments in Tbilisi has increased by around 20–30% compared with the previous year. This was also fuelled by the fact that rumours of a “flight from mobilisation” in Russia coincided with the arrival of students from other parts of the country at universities in the capital.

As a result, apartment rents are once again rising rapidly. An expected influx of Russians relocating to Georgia could make rental housing even less affordable for Georgian citizens themselves.

By Vladimir Tskhvediani, Georgia, exclusively for Caliber.Az