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Registering a company in Kutaisi (Georgia) in 2020
The main advantages of this jurisdiction are:
- One of the free industrial zones in Georgia;
- A favorable business environment;
- No residency requirements;
- Tax incentives;
- The ability to minimize taxation.
A business registration costs from €1800
A duration of company registration is from 7 daysDetailed information
Today, the activity of various areas in the Free Industrial Zone of Kutaisi is developing rapidly and many foreign entrepreneurs seek to register a company in Georgia.
The economic sector of Kutaisi is focused on the transport industry and production. Leading economic sectors are: woodworking, textile industry and agriculture.
For more information, you can ask for individual advice on conducting business activities in Kutaisi Free zone from IQ Decision experts.
If you are interested in registering a company in the Kutaisi FIZ and opening a Georgian bank account, then consider the following business benefits of the jurisdiction:
- Stable political environment;
- Silk Road Location;
- Reliable banking sector;
- Effective environment for foreign investment;
- Ease of doing business (according to the ratings of the World Bank Organization, the country ranks 7th in 2020);
- Qualified local staff;
- Favorable location at the intersection of trade and logistics routes in Europe, Asia and the Middle East;
- Simplified visa regime and obtaining a residence permit;
- A country with a low crime rate (118th place out of 123 in the Numbeo Crime Index, 2019).
Georgia has signed 33 investment protection treaties with many countries. The state has also been a signatory to the Convention on the International Center for the Settlement of Investment Disputes (ICSID) since 1992.
Those, who want to open a Kutaisi FIZ company remotely and obtain a trade license in Georgia, should know that GIH Holding FIZ operates in Kutaisi at the territory of the Kutaisi motor-car factory.
The territory is 27 hectares of land and 128,000 m² of premises for administrative, industrial and warehouse purposes. The free zone is located at a distance of 10 kilometers from Kutaisi International Airport and 95 kilometers from the Poti.
If you want to set up a company in the Kutaisi FIZ, then request for personal advice on company registration procedure in Georgia and opening an account for Georgian company from IQ Decision specialists.
- To attract foreign investment and advanced technologies for the provision of goods and services;
- To make a contribution to the Economic Development of Georgia;
- To create employment opportunities;
- To satisfy business requirements;
- To develop the best area for renting premises.
If you are intended to register a Kutaisi FIZ company, then you should know the following about the tax rates:
- There are no corporate tax, WHT on dividends and interest payments;
- Companies registered in FIZ are not subject to VAT and RCVAT;
- There is no personal income tax for company`s employees;
- There is no tax on export and import operations;
- There is no tax on property;
- Companies from Georgia and FIZ which have trade relations are subject to 4% sales tax.
To learn more, you can receive a qualified advisor on business organization process in Kutaisi FIZ and obtaining a business license in Georgia.
- Well-developed infrastructure;
- Low rental cost;
- Possibility of obtaining a Certificate of Origin;
- Reliable energy supply system and affordable electricity prices;
- Availability of skilled workforce;
- Convenient location in terms of logistics;
- Low license cost and simplified business regulation;
- Low prices for utilities and household services;
- Possibility to order infrastructure management services.
Also, if you would like to open a company in a FIZ of Georgia, take into account that you an opportunity to:
- Order a Forex license in Georgia;
- Obtain a crypto license in FIZ Kutaisi;
- Order an EMI license in Georgia, etc.
Opening a company in FIZ of Kutaisi – 2 200 EUR;
License fee – 5 thousand USD;
Subsequent annual license renewal – 3 thousand USD;
Legal support services in opening a bank account in Georgia – 950 EUR.
You can set up a company in Kutaisi in 1-2 business days.
You can open a corporate account with TBC Bank, Liberty bank, Bank of Georgia, etc.
According to the legislation of Georgia, there are no restrictions on the foreign ownership of legal entities or the general form of ownership. Thus, an enterprise can be established by both a local and a foreign individual or legal entity.
What you need to start a business in Kutaisi FIZ:
- To set up a company in the free industrial zone of Kutaisi in the House of Justice of Georgia with a legal address in the FIZ. The FIZ will confirm the registration;
- After confirmation of registration, it is necessary to open a corporate bank account in Georgia and pay a license fee. Then you will obtain a license with the right to conduct activities within FIZ.
We recommend that you ask for individual advice on company registration process in Kutaisi FIZ and obtaining a trade license in Georgia from IQ Decision lawyers. Also, our experts can provide you with a legal assistance in Georgian company account opening (in 5 days).
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.