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Georgia

Free zones of Georgia

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Registering a company in Georgia in 2020

Key benefits of doing business in this jurisdiction:

  • A stable economic situation;
  • A high level of confidentiality;
  • A reliable banking system;
  • The possibility of establishing a business by non-residents;
  • The ability to remotely open a company;
  • A fast registration process.

A business registration costs from €1690

A duration of company registration is from 2 days

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Georgia is a state that has not signed an agreement on the automatic exchange of information, however has more than 50 DTA agreements with various countries. The main advantages of jurisdiction are: confidentiality, ease of doing business, reliability and loyal attitude of authorities toward foreign investors.

Registering a Georgian company and opening a Georgian bank account can be the right decision, if you plan to conduct business in a well-developed European country.

For more information, we propose you to receive personal advice on business organization process in Georgia from IQD Consulting lawyers.

Registration requirements

Those, are intended to set up a company in Georgia remotely, need to prepare the share capital of 200 GEL (approximately 115 USD).

However, if you need a business license, the share capital will be much higher. For example, if you want to obtain a Forex license in Georgia, you will need a registered capital of at least 500 thousand GEL (approximately 179 000 USD).

You can open a company in Georgia only once, with no need for re-registration. There can be at least 2, but not more than 50 shareholders in a company. The company can be fully owned by foreigners.

Registration process

In order to register a company in Georgia with the help of our specialists you have to:

  • Inform us what type of company you prefer. The most popular option is to set up an LLC in Georgia;
  • Provide us with scans of the passports of the beneficiaries and directors;
  • If you would like to open a Georgian company remotely, then after confirmation of the list of papers, you will need to send us the necessary documents and a power of attorney;
  • If you decide to visit Georgia, the opening process will be faster. When you will sign all the necessary documents, the process will take about 2 days;
  • If you choose to register a company in Georgia without a personal visit, then take into account that the registration period can take about 3-4 weeks.

In addition, those, who are interested in setting up a company in Georgia and opening a Georgian company account, must provide us with a Certificate of criminal record.

Read also:
Tax rates:
  • Personal income tax is 20%;
  • WHT on dividends is 15%;
  • VAT is 18%.
How to open your own business in Georgia?

If you want to register a company in Georgia remotely, it will be necessary to order local accountant services. Also, you have an opportunity to:

  • set up a business in Poti FIZ;
  • to open a company in Kutaisi FIZ;
  • to conduct business in other Georgian FIZ.

If you have a local company, you can open an account in Georgia remotely or with a personal visit to the bank. We recommend that you consider opening an account for a company with Bank of Georgia, as the largest bank in this jurisdiction.

To learn more, please ask for individual advice on company registration procedure in Georgia and account opening from IQD Consulting experts.

Also, our company can provide you with legal assistance in obtaining a crypto license in Georgia, a trade license, a banking license and others.

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.

Are you interested in qualified advice from our specialists on this matter?

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