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;
- incentives for innovative technologies development;
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:
- limited partnership.
- Joint Liability Company.
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.
Submitting accounting reports is mandatory. There’s no audit requirements.
Seeking to open a company in Georgia? Need advice on company registration in Georgia? Why not contact IQ Decision UK?