Registration a company in Georgia
Registering a company in Georgia
Georgia – a country that offers great opportunities!
Registration of a company in Georgia will open new opportunities for business development for you.
Global changes and general deoffshorization that is happening in the modern world requires business to adapt.
While the exchange of tax information and deoffshorization has limited the use of offshore companies and the popularity of offshore companies has fallen, the companies in low-tax jurisdictions or countries where corporate tax is paid only on capital withdrawn from a company have becomethe main alternative.
Against this backdrop, Georgia has become a unique country that combined both of these advantages – low taxes that need to be paid only when withdrawing funds from the company in Georgia.
Registration of a company in Georgia is suitable for both beginners and companies that have been working in the market for a long time and are planning to expand the network of counterparties and customers.
The Georgian government is kipping up to date, and strives to provide loyal conditions for development to various sectors of the economy, in particular the IT sphere and the crypto currency. It was for this purpose that the “virtual zone” regime was developed, the main advantage of which is the corporate income tax rate of 5%.
The “virtual zone” regime in Georgia is suitable for companies operating in the IT industry. Corporate tax is charged when distributing the company’s profits in Georgia, for example, when dividends are paid.
Why is it better to register a company in Georgia?
- Lack of currency control and a very stable banking sector.
- Companies in Georgia can easily work with US dollars and Euros, or even open multi-currency bank accounts.
- Ease of opening a bank account for a local company in Georgia. In most cases, companies in Georgia can do this from 1 to 3 days.
- Georgia did not join the automatic exchange of tax information, and did not even announce the possibility of this in the near future, which opens up additional opportunities for companies in Georgia to protect confidentiality.
- Availability of tax-free special economic zone (SEZ). Having opened a company in one of the Special Economic Zones of Georgia, you can avoid not only taxes, but also reporting. Moreover, there is no requirement for minimum investments or a real office of a company in Georgia registered in the SEZ. All this makes the work of Georgian companies in the SEZ an excellent alternative to offshore trading companies registered in the UAE’s special economic zones.
- There is no need for a personal presence to open a company in Georgia.
- Ease of obtaining residence permits in Georgia. There is nothing easier than getting a residence permit in Georgiathrough real estate, investments in your own company, and those are not the only options.
- Georgia provides preferential treatment for many types of business. Thus, IT companies registered in Georgia can receive preferential status and pay only 5% of the tax on the distribution of profits.
- A simple and understandable taxation system for companies in Georgia and developed electronic services.
How to choose a company registration form in Georgia?
The most common form for the registration of a company in Georgia is a limited liability company.
The peculiarity of this form is that the founders are liable within their own contributions to the authorized capital, the minimum amount of which is not established by law.
Is a real office for a company in Georgia needed?
Georgian legislation considers the location of the firm in Georgia the actual location of the firm’s management body in Georgia. Data on placement are entered into the register of companies at the time of registration of the company in Georgia.
Using the services of the international law firm SBSB, you can easily rent a legal address for your company in Georgia, choosing one of its types:
- Virtual office (implies the presence of a secretary, rented to provide an opportunity to confirm the presence of the executive authority at the specified address, the acceptance of mail or calls for the company in Georgia, storage of the archive);
- Legal address (used solely for registration purposes).
Any help in registering a company in Georgia needed?
Call now by phone +38 (044) 379-30-62 and write to info@sb-sb-com
If it necessary to go to Georgia in order to register a company?
Registration of the company in Georgia will be done by the experts of the international law firm SBSB by proxy.
The founders do not need to personally come to Georgia. The director of the company in Georgia will need to come only to open an account with a bank in Georgia.
Accounting in Georgia
Georgian legislation obliges companies in Georgia to file tax and statistical reporting.
The specialists of the international law firm SBSB guarantee you timely submission of reports, keeping the company’s accounting records in Georgia in accordance with national and international standards, and will protect your company in Georgia from fines for violation of the deadline for filing.
The team of professionals of the international law firm SBSB will save you from the risks associated with hiring an accountant for a remote job, will guaranty you that your company’s accounting in Georgia is maintained in compliance with regulations.
For over five years we have been advising our clients in the field of corporate law, international tax planning, finance, international licensing and integrated business support in more than 40 countries.
We will be glad to help you.