This article will be useful for entrepreneurs considering the possibility of registering a company in Georgia and opening a Georgian bank corporate account.
The reason why so many entrepreneurs are interested in conducting business is that jurisdiction enjoys strong trade relations with the European Union.
For more information and individual advice on legal address registration in Georgian FIZ or account opening, please contact YB Case. Also, we can provide you with assistance in obtaining a Forex license in Georgia, or banking trade and licenses.
Key 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;
- Few requirements for obtaining permits and business licenses;
- The DTAA with the European Union;
- Simplified administrative procedures;
- Visa-free regimen.
If you want to open an account for a Georgian company, you should keep in mind that, Georgia is ranked 7th in the world for ease of doing business. Also, it is ranked 2nd in terms of ease of starting a business, 5th in terms of ease of registering property and 14th in terms of investor-friendly taxation. Flexible taxation and multiple benefits of doing business are the main reasons why a lot of businessmen seek to open a company in a FIZ in Georgia.
Important
An FIZ is a zone with business-friendly rules and flixible tax regimes. Free zones provide leasing companies with an environment that enables them to successfully compete in global markets.
Those, who decide to register a FIZ company in Georgia, can make payments in any currency.
Please note that:
- You can obtain a crypto license in an FIZ in Georgia, banking license or EMI license, as well as a special permit under a simplified procedure;
- 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 any further questions or looking for qualified advice on obtaining a license in Georgia, please do not hesitate to contact YB Case specialists.
Tax rates
Registering a company in a free industrial zone of Georgia and obtaining a trade license in Georgia provides one with the following benefits:
- exemption from VAT, tax on import and export operations and real estate tax;
- exemption from a corporate tax;
- possibility to repatriate capital and company profit.
Taxes that foreign founders pay on the repatriation of interest, dividends and royalties also apply to those, of them that open a business in a FIZ in Georgia.
How to open a Georgian company remotely
Those planning to register a FIZ company in Georgia, should keep in mind that the country has four free industrial zones:
- In the city of Tbilisi;
- In the city of Kutaisi (the Hualing FIZ is located here as well);In the city of Poti.
- A number of other FIZs are under planning or construction.
- For advice on business organization process in the FIZ of Georgia and obtaining a license in Georgia, please consider contacting 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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