Free Industrial Zones in Georgia

Free Industrial Zones in Georgia

This article will be useful for entrepreneurs considering the possibility of registering a company in Georgia and opening a Georgian bank corporate account.

Many entrepreneurs are interested in conducting business in this jurisdiction due to strong trade relations with European Union.

To learn more, we recommend that you request for individual advice on legal address registration in Georgian FIZ or account opening. Also, we can provide you with legal support services in obtaining a Forex license in Georgia, as well as banking or trade license.

Key business advantages

Those, who are interested in setting up a company in Georgia remotely, should pay attention to the following advantages of the jurisdiction:

  • Low taxes;
  • Loyal requirements on obtaining permits and business licenses;
  • A DTAA with the European Union;
  • Simplified administrative procedures;
  • Visa-free regime.

If you want to open an account for a Georgian company, then you should know that according to the Doing business 2020, Georgia ranked 7th on the ease of doing business. Also, it ranked 2nd in process of starting a business, 5th in registering property and 14th in taxation.

Tax relief and a lot of favorable ways for making business are the main reasons why many businessmen seek to open a company in the FIZ of Georgia.

Important notes

FIZ is a zone with business-friendly rules and favorable tax regimes. These free zones create a prospective environment that helps leasing companies successfully compete in global markets.

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Those, who decide to register a FIZ company in Georgia, can make payments in any currency.

Also, please note that:

  • You can obtain a crypto license in the FIZ of Georgia, banking license or EMI license, as well as a special permit in a simplified manner;
  • Any legal entity or individual can launch a FIZ in Georgia;
  • You can open a company in Georgia with 100% foreign capital.

If you have questions, you can ask for qualified advice on obtaining a license in Georgia from YB Case specialists.

Tax rates

If you will register a company in a Free industrial zone of Georgia and obtain a trade license in Georgia, then you will have the following opportunities:

  • To be exempt from VAT, tax on import and export operations and real estate tax;
  • To be exempt from the corporate tax;
  • To have a right to repatriate the capital and company profit.

Taxes on the repatriation of interest, dividends and royalties made abroad to the foreign founder also apply to those, who will set up a business in FIZ of Georgia.

How to open a Georgian company remotely

Those, who are planning to register a FIZ company in Georgia, should know that the country has four free industrial zones:

  • In Tbilisi;
  • In Kutaisi (also here the Hualing FIZ is located);
  • In Poti.

A number of other FIZs are under planning or construction.

You can receive personal advice on business organization process in the FIZ of Georgia and obtaining a license in Georgia from YB Case experts. Also, we can provide you with legal assistance in opening a multi currency account with a Bank of Georgia.

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