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A Forex license in Georgia (FIZ, Kutaisi)

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Obtaining a Forex license in the Kutaisi FIZ in 2020

Advantages of obtaining a license for Forex trading in the FIZ of Georgia:

  • Attractive conditions for conducting investment activities;
  • A favorable environment for the development of SMEs;
  • Zero rates of income tax, VAT and WHT on dividends;
  • Low cost of a license;
  • There are no requirements for an authorized capital;
  • A relatively fast licensing process.
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Over the past decades, Georgia has made significant progress in establishing a well-known and respected jurisdiction, providing international financial services. And, since, at the moment, despite the growing demand for complex financial services and products around the world, it is not possible for start-up small and medium-sized enterprises to obtain a financial license in Britain, Switzerland or other major authoritative regions. This is because regulators of many countries are trying to impose strict rules/requirements in order to weed out small and medium-sized companies from this sphere of business. Nevertheless, they have the opportunity to obtain a license for financial services in Georgia, more precisely - in the free industrial zone in Kutaisi. It can serve as a kind of alternative, and thus, a small business can join a regulated business environment and conduct its activities in it. Many companies have already taken advantage of this offer, and offer their services to customers around the world.

The offer from IQD Consulting

The Free Industrial Zone (FIZ) in Kutaisi is a place with its own special legal regime, intended for economic activity. Here applies rules, that are conducive to doing business, along with a favorable tax and customs regime. Registering a company for financial activities in the FIZ of Georgia is advantageous in that legal entities registered in the FIZ can take advantage of some laws on a banking, especially with regard to attracting foreign customers.

Obtaining a financial license in Georgia allows you to quickly become a regulated entrepreneur, operate in a moderately regulated environment and provide customers with direct access to all your products and services. In addition, it is worth paying attention to Georgian banks - they are very flexible in matters of customer support, services, commissions. Banks are connected to IBAN and are members of SWIFT. After registering a financial firm in the FIZ, obtaining a license in Kutaisi, a provider can post the number of a license on its website as a confirmation of professionalism, to gain trust, increase credibility among customers.

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Main characteristics/features of the FIZ:
  • A full exemption from corporate, property taxes, interest, dividends, VAT;
  • Lack of currency control;
  • Cryptocurrency transfers and B-Book brokerage operations are allowed;
  • The maximum confidentiality for customers;
  • Min requirements for the office creation, directors, hiring staff;
  • A director information remains confidential;
  • There is no need to obtain a license from the National Bank of Georgia, if services are not provided for residents of Georgia;
  • There are no requirements for a paid-in capital.
Registering a company for financial activities in Georgia

To register a Forex company in the FIZ and to obtain a license in the FIZ of Georgia, you must provide a copy of your passport, certified by a notary with an apostille, and also submit a certificate from the bank to confirm the address. Nominee services are exempt from submitting a certified copy - you just need to submit a scan of your passport.

Registering a company under forex trading in Georgia, obtaining a financial license in Kutaisi and opening a corporate bank account takes about 1 month, and costs €19900. A nominee service is available for €10,000 per year (a director and a founder), renewal for the second and next years - approximately €3,500–3,800 per year.

All this information is current at the time of publication of the article. We draw your attention to the fact, that IQD Consulting specialists conduct comprehensive consultations on the subject of the article and are ready to find a special solution for each individual task. For help information, please contact the contacts indicated in the form below.

  • The information outlined in the article is actual at the time of its publication.
  • Please refer to our specialists for checking possible solutions for your business.
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    Fill out the form or contact us as you find convenient. Our experts will help you resolve the issue.

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