Georgia
Capital: Tbilisi.
Official language: Georgian.
Currency: Lari.
Advantages of Company Registration:
- Quick registration process.
- Straightforward tax system with fixed tax rates.
- Absence of currency control and restrictions on capital withdrawal from the country.
- Convenient location and logistics for conducting activities in the CIS countries.
Georgia is a country located in the western part of the South Caucasus on the eastern coast of the Black Sea. It belongs to Eastern Europe and Western Asia. Although Georgia is not a typical offshore jurisdiction, it offers benefits and advantages that distinguish it favorably from other European countries. Georgia offers a low corporate tax rate of 15%.
Another option is available. Register a company in a special zone designed to stimulate investment and business with more favorable tax conditions, including exemptions from taxes and customs duties.
Taxation and Reporting Features
Georgia has favorable tax conditions, especially compared to neighboring European jurisdictions. To minimize taxation, we recommend registering a company in the Free Industrial Zone (FIZ). When registering a company in FIZ, the company benefits from a zero corporate profit tax rate for ten years, zero VAT on the import of equipment and raw materials, and exemption from property and land taxes.
Companies registered in FIZ are not exempt from maintaining and providing annual financial reports. Companies must store the reports for at least six years after the end of the reporting year.
For a regular company, the following tax regime applies:
- Corporate profit tax for LLCs at a rate of 15%.
- VAT at 18%.
- Import tax at 0%, 5%, or 12%, depending on the product.
- Mandatory annual reporting.
Registering a company in a Georgian FEZ is advantageous due to the possibility of reducing the tax burden almost to zero. Companies created in free economic zones are exempt from:
- Corporate income tax (0%).
- VAT (0%).
- Obligatory annual reporting.
Company Registration
Registration period is 7-10 days.
Popular forms for business registration in Georgia include LLC, JSC, branch, or representative office of a foreign company. There are no requirements for a minimum LLC capital in Georgia.
A foreigner can easily open a company in Georgia. If you can't come to the country in person, you can grant power of attorney to a representative of our company. We will help quickly gather documents and open an offshore bank account. The presence of the company director is only necessary when opening an account with a local bank.
Before submitting documents, prepare the charter and fill out the forms correctly. All documents must be in Georgian, and if necessary, you must provide notarized translations.
- Choose the place of registration. The optimal option is the territory of FIZ (Tbilisi, Kutaisi, Poti), which offers exemption from corporate profit and dividend taxes, among other benefits.
- Application for company registration with the chosen name.
- The company charter specifies activity types, capital size, participants, and organizational structure.
- Copies of the founders' and company directors' passports. The documents need notarized translations if they are not in Georgian or English.
- Lease agreement for the legal address or other documents confirming the registration address.
How to Quickly Register a Company in Georgia
To register an LLC, contact the specialists at IT-OFFSHORE. Our services include:
- Document preparation (collection, completion, notarization, etc.).
- Company registration.
- Payment of all state fees.
- Registration agent services for one year with the option of extension.
- Translation services.
- Delivery of registration documents to any address.
Additional fees apply for opening an account in a local bank and accounting services.
Conclusion
Every business is unique, and registering a company in Georgia should be based on specific needs and the enterprise's strategy. We recommend consulting with qualified IT-OFFSHORE specialists who have experience working with Georgian jurisdiction and can quickly register your company in this country.
We offer legal support during company registration and a wide range of services, including accounting services, nominee services, and complete company support after registration. Thus, we provide comprehensive year-round servicing of your company.
