Georgia company registration

Georgia company registration

DOING BUSINESS IN GEORGIA

Since 2003, Healy Consultants has assisted our Clients with business registration in Georgia. Our services include i) Georgia business registration ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.

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  • Advantages and disadvantages

    Advantages of Georgia company registration

    business registration facts in Georgia

    1. It is possible to register a Georgia limited liability company with only one shareholder and one director, both of which can be foreigners and are not required to live in the country. Furthermore, there is no minimum paid up capital requirement;
    2. It is easy to set up a business in Georgia because:
      • The country has fewer and simpler registration steps that most other Central Asian countries. Therefore, starting a business in the country can be done in a week;
      • The application is done with the National Agency of Public Registry, and can be done either by one of the shareholders or by a legal representative;
      • For the above reasons, the country is ranked 16th in the Ease to do Business ranking by the World Bank.
    3. Foreigners registering a company in Georgia can take advantage of the country’s beneficial tax regime, including:
      • Currently, the corporate tax rate is set at 15%, the 4th lowest in Central Asia after Kyrgyzstan, Turkmenistan and Uzbekistan;
      • Companies are exempt from i) capital duty ii) social security contribution iii) payroll tax and iv) branch remittance tax;
      • Clients that wish to set up their companies in one of Georgia’s free trade zones, are exempt from i) corporate income tax ii) property tax and iii) VAT and import/export tax for certain products.
    4. Georgia’s location can offer our Clients the following advantages:
      • Georgia is both culturally similar and geographically near to Russia, optimal for Clients that wish to expand their activities in the country;
      • Georgia is one of the countries which China’s “One Belt, One Road” project will pass through. The planned railway will link the Asian country with the European continent. Investments in Georgia will be able to take advantage of such link.
    5. Other benefits of investing in Georgia include:

    Disadvantages of Georgia company registration

    1. Clients that wish to produce for the domestic market are faced with several challenges, including:
      • Georgia has a total population of 3.5 million, the 2nd lowest in Central Asia, just behind Armenia;
      • Georgia also has one of the lowest purchasing power of Central Asia; way below the medium for the European continent.
    2. Georgia has a very tense relationship with Russia, due to:
      • Russia’s military occupies the regions of Abkhazia and South Ossetia in northern Georgia since the war in 2008 and considers them both independent territories under Russian control. Since Russia refuses to allow international interference, the issue continues to go unresolved;
      • Although the vast majority of gas is supplied by Azerbaijan, Georgia’s consumption of Russia gas, part of the supply chain to Armenia, is essential to maintain a diversified gas supply and to balance prices.

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Company registration

  • Time to incorporate: Four weeks
  • Cost to set up: US$9,550
  • Minimum capital: US$1
  • Physical office required: Yes

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 15%
  • Corporate tax base: Worldwide
  • Shelf companies: No
  • Main company type: LLC

Contact us

For additional information on our company registration services in Georgia, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Karen Lee, directly:
client relationship officer - Karen