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.
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.
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!
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:
|Basis of legal system||civil law system|
|Governing corporate legislation||Ministry of Economy and Sustainable Development Georgia|
|Stability||Stable jurisdiction with a very good reputation.|
|Minimum directors/shareholders||Minimum of 1 director and 1 shareholder.|
|Information published relating to company officers||Upon registration, names of company’s officers will appear in the public registry.|
|Paid up capital requirement||no minimum|
|Accounting requirement||the business is required to have a bank account and submit a tax declaration once a year; it is doable online.|
|Taxation||No taxes on foreign profits.|
|Timespan incorporation||within a few days|
Name Check & Clearance
Up to 2 individual shareholders included
Up to 1 individual director included
Digital Certificate of Formation
TAX Setup & VAT application
Incorporation documents in any language
Individual lawyer consultancy