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Business Registration

Georgia is an outstanding destination for entrepreneurs and investors. With its prime location as a bridge between Europe and Asia, with its tax policies, stable legal system, and developed banking infrastructure, there is no surprise that Georgia ranks 7th globally for ease of doing business. This is a place where your investment will soar and your business will thrive!

 

Our firm is a comprehensive solution for international and local clients looking to register their business in Georgia, offering a wide range of services to make the process simple and efficient. With us, foreign entrepreneurs have access to everything they need in one place, ensuring a smooth and streamlined registration process.

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No need to navigate a complex and unfamiliar business registration process by yourself. No need to be afraid of a lack of knowledge about local laws and regulations for business registration. No need to bother you with completing the required documentation.

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IBCCS Georgia provides legal & tax advisory on Georgian regulations as well as matters concerning international tax involving Georgian entities.

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We offer the following services:

  • legal address, which is necessary to register an LLC or IE in Georgia;

  • power of attorney to register a company remotely;

  • memorandum (Charter) according to Georgian regulations;

  • verification of the desired name for LLC registration whether it is available or not, to avoid having your entity formation request denied;

  • full range of bank account openings also without the physical presence of the client. We have established successful and long-term cooperation with leading banks in Georgia that allow the remote opening of bank accounts.

Forms of doing business in Georgia

Business center

LLC (Limited Liability Company) in Georgia

  • registration 1-2 days;

  • no minimum share capital;

  • no restrictions on the nationality and residence of shareholders & directors;

  • shareholders does not have to be present;

  • easy and smooth process;

  • documents in Georgian or English & Georgian;

  • opening bank account, both for resident or non-resident clients. Remote opening is available provided there is a local attorney appointed (e.g., our firm).

  • accounting & audit: book-keeping & submission of monthly tax declarations are required. Audit required for certain thresholds. IFRS adopted with exception of small enterprises

  • taxation: Corporate Profit Tax - 15%, payable only when the dividend is distributed. Otherwise, the tax will not be paid during the year or at its end.

Individual Entrepreneur (IE)

Individuals or organizations who are either Georgian residents or non-residents can provide services from and within Georgia. 

  • registration and opening a bank account can be done remotely with a power of attorney;

  • taxation: 20% or 1% for small business status holders. To maintain small business status, an annual turnover of below 500 000 GEL is required, and only certain types of business activities qualify.

  • No tax on profits from sale of cryptocurrencies

Additonal Tax Benefits and Special Statuses

Axis Towers Tbilisi

IC (International Company)

  • designed for Georgian companies dealing either with IT services or Maritime activities; 

  • company is structured in the same way as the local LLC and the IC license issued by the Revenue Service;

  • Taxation: exemption from Dividend tax, VAT, and property tax; Reduced tax for CIT and PIT in Georgia.

 

Example 1: company established in Georgia performing software development services through its Georgian office with local management and employees. The company can invoice Georgian entities.

 

Example 2: company established in Georgia performing maritime activities (e.g. crew management, ship management, ship rental, managing cargos, ship-building and repair, etc.)  through its Georgian entity.

IT Virtual Zone Company (VZC)

  • designed for Georgian companies dealing with IT; 

  • condition of obtaining the VZ certificate is performing IT services to entities located outside Georgia; 

  • company is structured in the same way as the local LLC and the VZ license issued by the Revenue Service;

  • Taxation: exemption from corporate income tax in Georgia.

 

Example: company established in Georgia performing software development through staff based in Georgia and invoicing foreign (e.g. Polish/Swiss/German/Russian/etc) clients.

STC (Special Trade Company)

  • designed for Georgian companies dealing with international trade;

  • is an enterprise conducting activities within the warehouse with a permit of warehouse activities;

  • company is structured in the same way as the local LLC and the STC license issued by the Revenue Service;

  • condition of obtaining the STC certificate is trading outside Georgia;

  • taxation: exemption from corporate income tax in Georgia.

 

Example: company established in Georgia buying goods from China and selling them to Poland.

Free Industrial Zones (FIZ) in Georgia

All Free Zones provide generous investment incentives such as the possibility of 100% foreign ownership, no corporate taxation, no restriction on repatriation of capital and profits, no exchange control, and no restrictions on investment in any industrial sector.

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Important considerations: 

 

  • FIZ tax benefits can be applied only to Industrial activities;

  • industrial activities have to occur on the territory of the FIZ;

  • goods produced in the FIZ are exempt from import taxes in the EU.

Free Industrial Zones image

Ready to grow your business and invest in Georgia?

We can’t wait to talk to you about it.

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