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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.

Seeking to open a company in Georgia? Need advice on company registration in Georgia? Why not contact IQ Decision UK?