Open a Company in Georgia

Our company – Business Setup Georgia LLC – provides legal services, designed to cover all the aspects concerning the registration of a local business by foreign investors who want to start a company in Georgia.

What recommends you in assisting foreign businessmen?

Business Setup Georgia LLC is based in Tbilisi, the country’s capital city, and has an experience of 15 years in the field of company formation. Its specialists are focused on offering high quality services and currently Business Setup Georgia LLC provides a wide range of services. We offer:

1. legal services (in branches of civil law, insurance law, business licenses and permits or intellectual property law);
2. company formation services(legal advice in choosing a suitable business form, assistance in incorporating any of the company types available under the Georgian legislation), etc.;
3. investors can rely on professional advice for immigration matters (applying for a residence permit or obtaining Georgian citizenship);
4. we also provide real estate services (legal assistance in drafting specific real estate contracts);
5. our team offers accounting services (preparing the company’s financial statements or implementing the accounting procedures available here).

Who can benefit from your corporate services?

All businessmen who want to open a company in Georgia. We can assist:

1. investors who are in Georgia and want to participate in the registration procedure;
2. foreign businessmen overseas, who can’t arrive in person in Georgia, but who want to register a company with the help of local specialists.

What are the procedures involved when a client opts for remote company formation?

The procedure involves the following:

1. signing the power of attorney, through which our team can obtain the right to represent a businessman in the registration formalities;
2. the client will need to complete the Company Incorporation Form;
3. after the power of attorney has been signed, our team will prepare the registration file;
4. the file is then submitted and the company is incorporated;
5. we will then need to sign a different power of attorney for a different registration procedure – the setup of a corporate bank account;
6. once we have obtained the power of attorney, we will open on the client’s behalf the Georgian bank account in the preferred currency (it is possible to open a bank account in EUR, USD or GEL).

What are the fees you charge for company registration services?

Investors who opt for the remote registration will pay a fee of USD 1,000, while those who will be physically in Georgia and will reach us at our office will pay a fee of $950.

When do I need to make the payment?

The payment for our services should be made prior to starting the registration formalities.

What are the main regulations related to company formation in Georgia? 

The registration of company in Georgia is performed following the rules and regulations imposed by the Civil Code amended in 1997, the Law on Entrepreneurs (1994) and the Law on Assistance and Guarantees for foreign investments.

What are the main steps for company formation in Georgia? 

In order to open a company in Georgia, the following steps have to be followed by both local and foreign investors: 

1. select one of the company types that is most suitable for the business activities that will be developed in Georgia;
2. select a suitable company name and register with the National Public Registry of Georgia; 
3. the company’s representatives have to prepare and notarize the statutory documents; 
4. register with the Entrepreneurial Register, which will issue an identification number and a certificate of state registration and will handle the tax registration procedure for the new company;
5. open a corporate bank account at any local commercial bank. 

What types of legal entities can investors set up in Georgia? 

There are a few types of entities the foreign investors can establish in Georgia: 

• the limited liability company;
• the general/ limited partnership;
• the subsidiary;
• the branch office. 

Can I obtain virtual office services in Georgia?

When starting a business activity in Georgia, one of the compulsory requirements is to have a business address and an official business office. Although most of the companies need an actual office, where the company’s employees meet according to the schedule of the company, numerous business activities can be developed through the services of a virtual office (we can help you select a suitable package).

What are the main taxes for companies in Georgia? 

Below,our consultantspresent the main taxes:

• in Georgia, the standard value added tax (VAT) rate is 18%;
• it is important to know that a company has toregister for VAT purposes in Georgia as long as the company’s annual revenue is of minimum GEL 100,000;
• the corporate income tax rate for a company in Georgia is 15%;
• dividends distributed by a company are subject to a 5% dividend tax rate.

Are there any benefits if I want to invest in the IT industry?

Yes, if you are a businessman interested in the IT sector, please know that you can discover here a set of benefits, as reflected below:

1. certain IT activities can benefit from the Virtual Zone Company status, which provides specific tax advantages;
2. this applies to IT companies which carry out business operations such as web design, SEO, software development, etc.;
3. these companies can benefit from a 0% VAT rate and 0% profit tax for the services delivered outside the country;
4. please know that for this service, we charge a fee of $600.

Do foreign businessmen need to associate with local partners?

No, foreign investors can set up local companies that have full foreign ownership, as it is not required to establish a business with the participation of a local businessman.

How can a foreign investor reside in Georgia? 

Georgia is a business-friendly country, which has developed over the years its connections with other jurisdictions. Foreign businessmen who want to register a Georgian company can apply for a business visa, provided that they will be able to invest a minimum amount of GEL 300,000. If this condition is satisfied, the businessman will receive a permanent residence permit.

Local and foreign investors who need to set up a company in Georgia may contact our specialists in company formation who will offer full assistance for company registration and other additional services.