Georgia

Registering a company in Georgia & opening an account with a Georgian bank are the first 2 things foreign businessmen seeking to get a foothold in the country can do. The main reasons for opening a business in Georgia are:

• agreements on automatic exchange of tax information;

• agreements on avoidance of double taxation with 12 countries;

• investor-friendly tax system;

• reliable banking system;

• status;

• incentives for innovative technologies development;

• PPE.

Georgia (or the Republic of Georgia) is an Eastern European country bordering on Azerbaijan, Turkey, Russia & Armenia. The capital of Georgia is Tbilisi. The official language is Georgian. The name of the national currency is Lari.

The key sectors of the Georgian economy include agriculture, transport & energy.

Those seeking to register a company in Georgia can choose from one of these business organization forms:

• LTD.

• JSC.

• SP.

• limited partnership.

• Joint Liability Company.

• cooperative.

Registration Requirements

To register a Georgian company, a forein investor must:

• provide scans of beneficiaries & directors’ IDs;

• provide a certificate of good conduct (for beneficiaries);

• pay a fee;

• rent a local office;

• come up with a unique name;

• submit an application.

Yes, it is. You can either register a company in Georgia remotely (takes up to  three weeks) or submit an application in person (takes up to 2 days).

Taxation

Corporate tax rate: 15%.

To minimize taxes, you can:

• register a Georgian company in a FIZ;

• register a free warehouse enterprise in the port of Georgia;

• establish an international financial company in Georgia.

Reporting

Submitting accounting reports is mandatory. There’s no audit requirements.