Georgia

Georgia

Although Georgia has not signed an agreement on the automatic exchange of information, it is a signatory to more than 50 DTA agreements. The main advantages of the jurisdiction are confidentiality, ease of doing business, reliability and an investor-friendly legal regime.

If you are planning on doing business in a well-developed European country, registering a Georgian company and opening an account in a Georgian bank may well be the right choice.

For more information on setting up a business ss in Georgia, please consider contacting YB Case experts.

Registration requirements

Setting up a company in Georgia requires having a minimum 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 without having to re-apply for 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

To register a company in Georgia, you will need to:

  • Let us know what type of company you prefer to open (please note that the most popular option is to set up an LLC in Georgia);
  • Provide us with scanned copies of passports of your company’s beneficiaries and directors;

Once you have gathered all the required documents, you will need to email them to us along with a power of attorney (only then will we be able to proceed with opening a Georgian company remotely);

If you decide to come to Georgia, the registration process will be much faster. Once you have signed all the required documents, it will take approximately 2 days for the registration process to be completed;

If you choose to register a company in Georgia without being physically present in the country, the registration process can take approximately 3-4 weeks.

If are interested in setting up a company in Georgia and opening a corporate account in a Georgian bank, you should provide us with a criminal record certificate.

Tax rates:

  • Personal income tax is 20%;
  • WHT on dividends is 15%;
  • VAT is 18%.

How to open your own business in Georgia?

Registering a company in Georgia remotely requires hiring a local accountant. Please, keep in mind that you can also:

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

If you already have a company, you can open a corporate account in Georgia remotely or by paying a visit to a local bank. We recommend opening a corporate account with the Bank of Georgia (the largest bank in this jurisdiction).

For more information, please consider contacting YB Case experts. By getting in touch with them, you will be able to get individual advice on registering a company in Georgia and opening a corporate account in the country. They can also assist you with obtaining a crypto license, a trade license and a banking license in Georgia.

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