ClevverCompany

Georgia – LLC

Why is it beneficial for a company to incorporate in Georgia?

Georgia was put on the map as a hot & new, go-to business destination since the recent intense and aggressive reformations started to prove successful – bringing economic growth to the country. Georgia has become a viral destination for foreign business and investment. This fast-developing, strategically located, post-soviet state boasts an inviting approach towards businesses, its appealing laws and taxation policies represent a fantastic base for offshore incorporation. Georgia’s extraordinary potential for being the perfect place to incorporate a company has been recognized by the World Bank’s Doing Business report of 2019, where the country was placed ahead Norway and the United States, landing on the impressive 6th position.

Steady economy:
According to the 2019 Index of Economic Freedom ranking, compiled by The Heritage Foundation, Georgia ranks as 16th, higher than Sweden and Germany. Georgia’s economy has experienced steady growth in recent decades. Multiple thriving business sectors include energy, agriculture, tourism, and services. In years to come, the role of logistics is expected to grow.

Strategic location:
Georgia is a dream location if you consider entering either European or Asian markets. Incorporating your company headquarters in Georgia opens up the possibilities of global entry.

Taxation and legal system:
With the corporate profit tax that has remained at 15% since 2008, Georgia has an appealing tax system. Georgia’s two fantastic business incentives can benefit your business at an unheard scale: one is the country’s Free Industrial Zones (FIZs), where the companies can benefit from low VAT rates, 0% tax on corporate income, property, and import; second is a special system for companies exporting the goods outside the country.  Not to mention, setting up an LLC is a few-minutes-long, extremely affordable process with no minimum capital required, which doesn’t leave a reason not to set up a company in Georgia!

What type of companies can be formed in Georgia?

One of the most popular company types that can be incorporated in Georgia is an LLC – a Limited Liability Company. There’s plenty of benefits associated with setting up an LLC in Georgia, such as:

• No big financial assets necessary: no minimum capital is required;
• The registration costs are affordable.
• No minimum number of shareholders
• Fast process: Setting up an LLC takes a few hours (after an application has been submitted to the corresponding entity)