Registration fee is from 2500 €
Registration period — 2 weeks
Minimum authorized capital - not required
Remote opening — yes
Financial statements — yes
The Republic of Georgia is a country located on the eastern coast of the Black Sea, bordering Armenia, Turkey, Azerbaijan. Since 2014, Georgia has been a member of the European Union. The capital of Georgia is Tbilisi.
Maira Consult recommends using companies registered in Georgia for trade, logistics and transport services, IT business and start-up projects.
A company in Georgia provides the owner with unique opportunities for international business due to existing tax treaties, in particular with Ukraine, as well as the availability of free economic zones. In order to attract foreign investors, Georgia has established free economic zones that provide legislative and tax benefits. Companies registered in free economic zones are exempt from corporate tax in most cases. Despite the many advantages, in 2023, free industrial zones partially lost their relevance, as it is almost impossible for companies registered in such zones to open an account in a Georgian bank even if they have a substance.
In 2017, Georgia switched to a new corporate taxation model similar to Estonia. This means that the profits of a Georgian company are taxed when the company distributes profits (dividends).
For IT companies, there is a special tax regime, the IT Virtual Zone, which allows them to pay 5% corporate tax.
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Tax benefits in free economic zones
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Corporate tax is paid upon distribution of profits
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Access to international seaports
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Transparent conditions for doing business
Georgian companies pay income tax only when distributing profits. In Georgia, it is possible to register a company in free industrial zones and receive tax benefits.
The name of the company must be in Georgian or Latin letters and end with a word, phrase or abbreviation that indicates a limited liability company (LLC).
The amount of the minimum share capital and the procedure for its payment are not established. The recommended share capital is from 100 GEL.
At least one individual, no residency requirements.
At least one individual or legal entity, no residency requirements.
All Georgian companies, including those registered in free industrial zones, are required to prepare and submit annual financial statements. An audit is required for Georgian companies that meet two criteria: 1. The value of the company's assets exceeds GEL 10000000. 2.The company's revenue exceeds GEL 20,000,000 per year. 3.The number of employees exceeds 50.
The corporate income tax rate is 15% (only the distributed profit of the company is taxed). The withholding tax rate on dividends is 5%, so the total effective tax rate on the distribution of profits of a Georgian company is 20%. The standard VAT rate is 18%.
The state register is open. The information about the company, director, shareholder, and the size of the company's share capital is publicly available. Information about ultimate owners is also public.
The most popular form for registering a company in Georgia is a limited liability company (LLC). LLC members are liable only to the extent of their contributions to the charter capital.
Each shareholder of a Georgian company must provide an international passport and proof of residence (utility bill).
Registration of a company in Georgia can be done remotely or with a personal visit of the director and shareholders to Georgia. To register a company remotely in Georgia, the founder certifies a power of attorney by a notary. The power of attorney does not need to be additionally legalised with an Apostille stamp if you draw it up in Ukraine. On the basis of the power of attorney, a lawyer in Georgia submits registration forms to the register. The remote procedure for registering a company in Georgia takes an average of 2 weeks.The registration procedure with a personal visit to Georgia takes several business days.
In Georgia, there are no requirements for the payment of share capital. If necessary, the share capital is formed after the company is registered in Georgia.
The process of registering a company in Georgia generally takes 7-10 business days from the date of receipt of the required set of documents, depending on the workload of the register.
As soon as a company in Georgia is registered, the registry issues ready-made corporate documents with the appropriate stamps.
If necessary, the documents of a Georgian company are submitted for legalisation and apostille.
Originals of corporate documents of a Georgian company are sent by courier service.
Phone
+380 97 527-66-30Client Relations Department
+380 73 427-66-30Address
Kyiv, 01054, Ukraine,
40B Ivan Franko St., office 207