Company in Georgia
Company in Georgia
Company registration in Georgia and available legal forms of conducting business activity
There are several types of legal forms available in Georgia, but two are most often chosen and recommended:
- limited liability company (LLC) and
- a joint stock company (JSC).
The most popular choice of entrepreneurs is a limited liability company LLC, which guarantees international opportunities for businessmen. This is because joint-stock companies (JSCs) are relatively large enterprises of considerable scale and extensive structures.
Open business in Georgia – time of registration
Registration of a company in Georgia involves the completion of relevant corporate documents. Once they have been prepared and submitted to the relevant authorities, the registration process takes up to 1 to 2 working days.
Opening a company in Georgia at a distance
Registration of the company in Georgia can be done remotely. Presence during registration is not required. A company in Georgia may be registered by a local representative. However, it should be remembered that the seat of the company must be registered in Georgia. For this purpose, you can use our virtual offices.
Taxes and busness in Georgia
Establishing a company in Georgia is connected with the knowledge of local tax obligations.
Just like in Poland, the tax year coincides with the calendar year. The most important taxes are
- Corporate income tax – 15%, payable in case of dividend payment,
- Import tax – 0%, 5% or 12%,
- Property tax – up to 1%,
- Social tax – 0%,
- VAT – basic rate -18% (with the registration for VAT not obligatory if the turnover of goods subject to VAT does not exceed 100 000 GEL per year.
In addition, exporting goods abroad is exempt from all taxes and importing them into the Free Zone is exempt from all taxes (except the 4% duty). Imports into the rest of Georgia are already subject to VAT and 4% domestic sales tax.
Free zones in Georgia
What interests entrepreneurs investing in Georgia are free zones. Among them we distinguish, among others..:
- Tbilisi Free Zone (TFZ),
- Hualing Kutaisi Free Industrial Zone (HKFIZ),
- Free Industrial Zone (Poti FIZ).
Ready made company in Georgia
It is also possible to buy a company in Georgia, which is already registered. As a rule, a ready-made company in Georgia exists relatively shortly, it did not conduct earlier activity and was created in order to sell it later. However, due to the legal regime for setting up companies and the time of its registration, the purchase of a company in Georgia is not profitable and therefore rarely used.
Are you interested in establishing a company in Georgia or do you want to talk about it? Entrust this task to professionals. Contact us.