{"id":225,"date":"2023-04-13T09:48:21","date_gmt":"2023-04-13T09:48:21","guid":{"rendered":"https:\/\/companyformationgeorgia.com\/?p=225"},"modified":"2024-03-05T10:23:16","modified_gmt":"2024-03-05T10:23:16","slug":"set-up-a-subsidiary-in-georgia","status":"publish","type":"post","link":"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/","title":{"rendered":"Set up a Subsidiary in Georgia"},"content":{"rendered":"\n<p>The shareholder of a<em>&nbsp;<\/em><strong>Georgian subsidiary&nbsp;<\/strong>is represented by the foreign company that decides to operate in a foreign market through this business form.&nbsp;Unlike the<strong>&nbsp;<\/strong>branch, this type of business form gives the<strong>&nbsp;<\/strong>foreign company<strong>&nbsp;<\/strong>the possibility to detach itself from the&nbsp;<strong>liabilities of its subsidiary<\/strong>. The foreign parent company will thus establish its presence in<strong>&nbsp;Georgia<\/strong>&nbsp;by&nbsp;<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/company-register-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">incorporating a new company<\/a>&nbsp;<\/strong>in the country.<\/p>\n\n\n\n<table class=\"redTable\">\n\t\t<thead>\n\t\t\t<tr>\n\t\t\t\t<th>\n\t\t\t\t\t&nbsp;Quick Facts<\/th>\n\t\t\t\t<th>\n\t\t\t\t\t&nbsp;<\/th>\n\t\t\t<\/tr>\n\t\t<\/thead>\n\t\t<tbody>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\t&nbsp; Applicable legislation (home country\/foreign country)<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tForeign country<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tBest used for<\/p>\n\t\t\t\t<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tVarious activities (trading, commercial, services, etc.)<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tMinimum share capital<\/p>\n\t\t\t\t<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t&#8211;<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tTime frame for the incorporation (approx.)&nbsp;<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\t1 week<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tManagement (local\/foreign)<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tLocal or foreign (the parent company is not required to appoint a local director)<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tLegal representative required&nbsp;<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tNo<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tLocal bank account<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\tYes<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tIndependence from the parent company<\/td>\n\t\t\t\t<td>\n\t\t\t\t\tFully independent from the parent company<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tLiability of the parent company<\/td>\n\t\t\t\t<td>\n\t\t\t\t\tNo liability on the subsidiary&#39;s debts and obligations<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tCorporate tax rate<\/td>\n\t\t\t\t<td>\n\t\t\t\t\t<p>\n\t\t\t\t\t\t15%<\/p>\n\t\t\t\t<\/td>\n\t\t\t<\/tr>\n\t\t\t<tr>\n\t\t\t\t<td>\n\t\t\t\t\tPossibility of hiring local staff<\/td>\n\t\t\t\t<td>\n\t\t\t\t\tYes<\/td>\n\t\t\t<\/tr>\n\t\t<\/tbody>\n\t<\/table>\n\n\n\n<p><strong>Our&nbsp;<\/strong><strong><a href=\"https:\/\/www.companyformationgeorgia.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">agents<\/a>&nbsp;in&nbsp;<\/strong><strong>company incorporation in Georgia<\/strong>&nbsp;can offer more information on the differences between branches and&nbsp;<strong>subsidiaries<\/strong>&nbsp;and why it is recommended to choose one business form or the other. One of the<strong>&nbsp;advantages of the Georgian subsidiary<\/strong>&nbsp;is that this business structure is seen as an<strong>&nbsp;independent legal entity<\/strong>.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#register-a-georgian-subsidiary-in-2024\" title=\"Register a Georgian subsidiary in 2024\">Register a Georgian subsidiary in 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#taxation-of-georgian-subsidiary\" title=\"Taxation of Georgian subsidiary&nbsp;\">Taxation of Georgian subsidiary&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#what-are-the-steps-in-registering-a-georgian-subsidiary\" title=\"What are the steps in registering a Georgian subsidiary?&nbsp;\">What are the steps in registering a Georgian subsidiary?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#what-other-documents-are-necessary-for-the-process-of-company-formation-in-georgia\" title=\"What other documents are necessary for the process of company formation in Georgia?\">What other documents are necessary for the process of company formation in Georgia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#what-are-the-basic-differences-between-the-georgian-subsidiary-and-the-branch-office\" title=\"What are the basic differences between the Georgian subsidiary and the branch office?&nbsp;\">What are the basic differences between the Georgian subsidiary and the branch office?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#what-are-the-new-vat-rules\" title=\"What are the new VAT rules?\">What are the new VAT rules?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#does-the-georgian-subsidiary-need-a-business-license\" title=\"Does the Georgian subsidiary need a business license?&nbsp;\">Does the Georgian subsidiary need a business license?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#are-trademarks-protected-in-georgia\" title=\"Are trademarks protected in Georgia?&nbsp;&nbsp;\">Are trademarks protected in Georgia?&nbsp;&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/companyformationgeorgia.com\/set-up-a-subsidiary-in-georgia\/#the-advantages-of-a-subsidiary-in-georgia\" title=\"The advantages of a subsidiary in Georgia\">The advantages of a subsidiary in Georgia<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"register-a-georgian-subsidiary-in-2024\"><\/span><strong>Register a Georgian subsidiary in 2024<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For the purpose of\u00a0<strong>opening a subsidiary in Georgia<\/strong>, the foreign businessman must select a corporate entity prescribed by the\u00a0<strong>Georgian law<\/strong>. In most of the cases, foreign investors will opt to\u00a0<strong>register a subsidiary<\/strong>\u00a0as a\u00a0<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/open-a-limited-liability-company-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">limited liability company<\/a><\/strong>. There are a few steps to complete when opening this type of company, starting with choosing the right and available business name (followed by the abbreviation LLC), opening a bank account and registering the limited liability company.<\/p>\n\n\n\n<p>This&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/companies-types-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>type of company<\/strong><\/a>&nbsp;has at least one shareholder and it may be formed by appointing a single director. The main&nbsp;<strong>shareholder of a subsidiary<\/strong>&nbsp;will be its foreign parent company.&nbsp;The liability of the shareholders is limited to the amount of their contributions to theshare capital, this being one of the main reasons foreign businessmen choose toregister a company under an LLC.&nbsp;<\/p>\n\n\n\n<p>The most important documents that need to be provided when<strong>\u00a0opening a subsidiary\u00a0<\/strong>are the documents belonging to the parent company;<strong> <a href=\"https:\/\/www.companyformationgeorgia.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\">our team of consultants in company registration in Georgia<\/a>\u00a0<\/strong>can provide in-depth assistance on documents such as the articles of association, identification details of the company, information regarding\u00a0 the shareholders of the business and others.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"taxation-of-georgian-subsidiary\"><\/span><strong>Taxation of Georgian subsidiary&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Considering that the&nbsp;<strong>Georgian subsidiary<\/strong>&nbsp;is incorporated for the purpose of developing commercial activities, it will be liable for taxation.&nbsp;From a taxation point of view, the&nbsp;<strong>Georgian subsidiary&nbsp;<\/strong>will be treated following the regulations available for local businesses and the investors will have toregister for a&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/taxation-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>set of taxes<\/strong><\/a>, to which local companies are liable, as follows:<\/p>\n\n\n\n<ul>\n<li>\u2022 the<strong>&nbsp;subsidiary<\/strong>&nbsp;is required to register for value added tax(<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/vat-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">VAT<\/a><\/strong>), once the company reached a<strong>&nbsp;turnover of GEL 100,000<\/strong>;<\/li>\n\n\n\n<li>\u2022 this business form is also liable to corporate tax, which is imposed at the rate of 15%;<\/li>\n\n\n\n<li>\u2022 the company is also required topay withholding taxes for the payments transferred to non-residents;<\/li>\n\n\n\n<li>\u2022 the&nbsp;<strong>withholding taxes in Georgia<\/strong>&nbsp;are applicable to dividends, royalties and interests.&nbsp;<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"\/contact\"><img loading=\"lazy\" decoding=\"async\" width=\"480\" height=\"1200\" src=\"https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia-480x1200.png\" alt=\"the-advantages-of-setting-up-a-subsidiary-in-georgia.png\" class=\"wp-image-177\" srcset=\"https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia-480x1200.png 480w, https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia-120x300.png 120w, https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia-768x1920.png 768w, https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia-614x1536.png 614w, https:\/\/companyformationgeorgia.com\/wp-content\/uploads\/2023\/04\/the-advantages-of-setting-up-a-subsidiary-in-georgia.png 800w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/a><\/figure><\/div>\n\n\n<p>After the process of\u00a0<strong>company formation in Georgia<\/strong>\u00a0is completed and the legal entity is registered with the local authorities, the company\u2019s representatives may also start the employment procedures, by hiring employees, who are taxed for their activities. The tax legislation available here requires employers to register the company\u2019s employees for social security and other employment taxes and, in this sense, it is important to know that\u00a0<strong>Georgia\u00a0<\/strong>applies a personal income tax imposed at the rate of 20%.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-are-the-steps-in-registering-a-georgian-subsidiary\"><\/span><strong>What are the steps in registering a Georgian subsidiary?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The<strong>&nbsp;subsidiary in Georgia&nbsp;<\/strong>will generally take the form of a private limited company. Due to this reason, we will present here the steps investors have to take when incorporating a limited liability company. The legal procedure is started when the investor submit a formal application with the&nbsp;<strong>Public Registry<\/strong>, where they will submit the company\u2019s statutory documents.&nbsp;<\/p>\n\n\n\n<p>For a limited liability company, the company\u2019s charter is necessary. The charter (or articles of association) has to contain specific information on the company that will gain legal personality, this being a mandatory step for&nbsp;<strong>company formation in Georgia<\/strong>. In this founding document, investors have to provide information on the following aspects:&nbsp;<\/p>\n\n\n\n<ul>\n<li>\u2022 the company\u2019s trading name that is formally recognized by the&nbsp;<strong>Georgian institutions<\/strong>;<\/li>\n\n\n\n<li>\u2022 the legal entity under which the company is registered;<\/li>\n\n\n\n<li>\u2022 the address where the company has its headquarters (all&nbsp;<strong>companies in Georgia&nbsp;<\/strong>must have an official registered address);<\/li>\n\n\n\n<li>\u2022 the e-mail address created for the company and the company\u2019s management structure;<\/li>\n\n\n\n<li>\u2022 personal information on the company\u2019s shareholders or corporate details in the case in which the founder is another legal entity \u2013 as it is generally the case for the&nbsp;<strong>registration of a subsidiary<\/strong>;<\/li>\n\n\n\n<li>\u2022 if the founder is another company, the&nbsp;<strong>Georgian authorities<\/strong>&nbsp;will need information on the legal entity of the company, trading name, registration details, its identification code, its representatives and others.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>When a&nbsp;<strong>subsidiary<\/strong>&nbsp;is registered as a limited liability company, the investors will have to present in the company\u2019s charter details on the shareholding structure, the number of shareholders, the number of&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/the-minimum-share-capital-for-opening-a-company-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>shares<\/strong><\/a>&nbsp;owned by each shareholder. The personal data of the company\u2019s managers is also required.&nbsp;<\/p>\n\n\n\n<p>Provided that the company is incorporated for a determined period of time, the charter has to mention the duration for which the legal entity will be active. Another legal requirement that has to be completed throughout the process of&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/frequently-asked-questions\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>opening a company in Georgia<\/strong><\/a>&nbsp;is that the charter must be signed by all the company\u2019s founders. More importantly, the document has to be notarized at a&nbsp;<strong>public notary in Georgia<\/strong>.&nbsp;<\/p>\n\n\n\n<p>Please note that the&nbsp;<strong>Georgian legislation<\/strong>&nbsp;offers a more flexible option, in the sense that the company\u2019s charter can be prepared in a foreign country where the founder is registered as a tax resident, but in this case, additional legal procedures have to be met. For instance, the document can be prepared by the officials of the said country, but it must be&nbsp;<strong>sent in Georgia<\/strong>&nbsp;as a legalized version.&nbsp;<\/p>\n\n\n\n<p>Depending on the country, the document may also need to be apostilled. However, all documents sent from a foreign jurisdiction will need to be accompanied by an official translation made in the&nbsp;<strong>Georgian language&nbsp;<\/strong>and then a notarized version will also be necessary. Given the complex nature of this procedure, we invite you to&nbsp;<strong>address to our team of consultants in company registration in Georgia<\/strong>, who can advise on this matter.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-other-documents-are-necessary-for-the-process-of-company-formation-in-georgia\"><\/span><strong>What other documents are necessary for the process of company formation in Georgia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In order to&nbsp;<strong><a href=\"https:\/\/www.companyformationgeorgia.com\/purchase-a-company-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\">open a company in Georgia<\/a>&nbsp;<\/strong>registered as a corporate structure, investors have to prepare additional documents than the ones we have presented up until now. The founders must add to the file a decision signed by all the company\u2019s members on the registration of the legal entity. When the company is founded by another legal entity, the file has to contain the Certificate of Registration of the latter.&nbsp;<\/p>\n\n\n\n<p>A document stating who will be the appointed director of the company is required, as well as a written consent of the director with regards to his or her new function. In order to provide evidence on the company\u2019s official address, the investors have to add a rental agreement or other documents that show that the respective address is used as an official office space.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The file must contain evidence on paying the registration fee charged by the&nbsp;<strong>Georgian institutions&nbsp;<\/strong>as well. For more information on<strong>&nbsp;how to register a subsidiary<\/strong>&nbsp;here,&nbsp;<strong>our team of specialists in company registration in Georgia<\/strong>&nbsp;remain at your disposal and are ready to assist you in any matter concerning the incorporation procedure.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-are-the-basic-differences-between-the-georgian-subsidiary-and-the-branch-office\"><\/span><strong>What are the basic differences between the Georgian subsidiary and the branch office?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although the branch office and the&nbsp;<strong>subsidiary<\/strong>&nbsp;seem to have a set of similar traits, it must be observed that these two entities have substantial differences as well. There are differences with regards to the nature of the legal entity or the taxation system (in most of the cases the same taxes apply, with few exemptions) and these have to be well known prior to&nbsp;<strong>opening a company in Georgia<\/strong>, in order to take the best decision that is suitable for the&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/invest-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>investment plans<\/strong><\/a>&nbsp;of the foreign company.<\/p>\n\n\n\n<p>Firstly, a&nbsp;<strong>subsidiary<\/strong>&nbsp;will be incorporated following the standard procedure for&nbsp;<strong>company registration in Georgia<\/strong>, which means that it will take the form of a legal entity which benefits from the status of a&nbsp;<strong>Georgian resident company<\/strong>. The&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/establish-a-branch-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>branch office<\/strong><\/a>&nbsp;does not have a legal entity. Instead, it is considered to be a permanent establishment of the parent company abroad and this is why it is not recognized as a&nbsp;<strong>Georgian resident entity<\/strong>.<\/p>\n\n\n\n<p>With regards to the taxation of these entities, investors must know that the&nbsp;<strong>legislation in Georgia<\/strong>&nbsp;does not require companies to complete a separate tax registration as a&nbsp;<strong>taxpayer in Georgia<\/strong>&nbsp;(when we refer to the value added tax registration), but you may find out more details on this subject from&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/company-formation-services-in-tbilisi\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>our team of consultants in company formation in Georgia<\/strong><\/a>. Both the&nbsp;<strong>subsidiary<\/strong>&nbsp;and the branch office are liable for the following:<\/p>\n\n\n\n<ul>\n<li>\u2022 the obligation to register for VAT once the company reaches a turnover subject to VAT of more than&nbsp;<strong>GEL 100,000<\/strong>;<\/li>\n\n\n\n<li>\u2022 the obligation to pay the corporate income tax, applicable at the rate of 15% (but here, the moment of taxation differs for each business form);<\/li>\n\n\n\n<li>\u2022 the obligation to pay withholding taxes at the rate of 5% for the taxation of interest and royalties;<\/li>\n\n\n\n<li>\u2022 the<strong>&nbsp;subsidiary<\/strong>&nbsp;and the branch office must pay withholding taxes for the compensation of international telecommunication and transportation services at a rate of 10%;<\/li>\n\n\n\n<li>\u2022 <strong>s<\/strong><strong>ubsidiaries&nbsp;<\/strong>and branch offices acting as employers have to withheld from their&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/workforce-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>employees<\/strong><\/a>&nbsp;the personal income tax, payable at the rate of 20%;<\/li>\n\n\n\n<li>\u2022 both are taxed with a rate of 18% for the VAT.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>It must be noted that the&nbsp;<strong>subsidiary is liable for the payment of withholding taxes<\/strong>&nbsp;on the distribution of dividends, at a rate of 5%. When we refer to the payment of the corporate income tax, investors must know that the tax is collected when the income obtained from dividends is distributed amongst the beneficiaries (in the case of a&nbsp;<strong>subsidiary<\/strong>). The same tax is applied for a branch office at the moment when the company\u2019s income is transferred to the mother company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-are-the-new-vat-rules\"><\/span><strong>What are the new VAT rules?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In 2024, there are new tax rules that need to be observed by those who want to <strong>start a subsidiary <\/strong>in this country. For instance, one of the main changes is that if an investor has more than 1<strong> company incorporated in Georgia<\/strong>, all these legal entities can be considered as a single entity for the purpose of VAT registration and payment. <\/p>\n\n\n\n<p>Normally, a company needs to register for VAT when the turnover obtained in 12 consecutive months is of minimum GEL 100,000. In the case of companies that have the same ownership, the registration is mandatory when the overall turnover of all companies reaches GEL 100,000. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"does-the-georgian-subsidiary-need-a-business-license\"><\/span><strong>Does the Georgian subsidiary need a business license?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The need of having a\u00a0<a href=\"https:\/\/www.companyformationgeorgia.com\/special-permits-and-licenses-in-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>business license<\/strong><\/a>\u00a0will generally depend based on the economic sector in which the\u00a0<strong>subsidiary\u00a0<\/strong>will operate and its specific business activity. Companies dealing with broadcasting, oil transporting, banking, insurance, medical services will require the issuance of a business license, these being only few of the licenses prescribed by the\u00a0<strong>Georgian law<\/strong>. You can request more information on how to apply for a business license in\u00a0<strong>2024\u00a0<\/strong>from\u00a0<strong>our team of specialists in company registration in Georgia<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"are-trademarks-protected-in-georgia\"><\/span><strong>Are trademarks protected in Georgia?&nbsp;&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yes,&nbsp;<strong>companies operating in Georgia<\/strong>&nbsp;benefit from a legislative framework for the protection of a trademark or&nbsp; a patent. Thus,&nbsp;<strong>subsidiaries&nbsp;<\/strong>and branch offices registered here can register with the&nbsp;<a href=\"https:\/\/www.sakpatenti.gov.ge\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>National Intellectual Property Centre<\/strong><\/a>. Businessmen who want to&nbsp;<strong>open a company in Georgia<\/strong>&nbsp;should know that the country is a signatory state of international agreements such as the Paris Convention, Madrid Protocol or the TRIPS Agreement.<\/p>\n\n\n\n<p>In order to protect a trademark on the&nbsp;<strong>Georgian territory<\/strong>, a company must complete an application form with the above mentioned institution, which can be sent in an electronic format or by mail. Please be aware that the application must be completed in the&nbsp;<strong>Georgian language<\/strong>, so the assistance of&nbsp;<strong>persons native in Georgian<\/strong>&nbsp;might be needed. Also, the subject of an application should be a single trademark and not more.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The institution handles the registration of patents, trademarks, designs, copyright and other signs related to intellectual property.\u00a0<a href=\"https:\/\/www.companyformationgeorgia.com\/company-formation-services-in-batumi\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Our team of consultants in company registration in Georgia<\/strong><\/a>\u00a0can offer in-depth information on how to register with this institution and can also provide legal advice on how to register with other authorities involved in the process of\u00a0<strong>registering a Georgian subsidiary in 2024<\/strong>.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-advantages-of-a-subsidiary-in-georgia\"><\/span><strong>The advantages of a subsidiary in Georgia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The&nbsp;<strong>subsidiary<\/strong>&nbsp;provides certain advantages, but the decision of opening either a<strong>&nbsp;subsidiary<\/strong>, either a branch office should be based on a set of factors and more importantly, on the business plans the mother company has when expanding in this country.&nbsp;Investors must know that the registration of a branch office is simpler and it thus, can be completed in a shorter period of time.<\/p>\n\n\n\n<p>Still, the&nbsp;<strong>advantage of a subsidiary<\/strong>&nbsp;is that is represents a more risk-free entity for the parent company, given that the<strong>&nbsp;subsidiary represents a separate legal entity<\/strong>, responsible for its own assets and liabilities (in the case of a branch this will not apply).&nbsp;<\/p>\n\n\n\n<p>The<strong>\u00a0subsidiary<\/strong>\u00a0is also a preferred business structure when dealing with customer perception. Some customers and\/or partners will show more confidence when\u00a0<strong>working with a subsidiary company<\/strong>\u00a0because the<strong>\u00a0business is a Georgian legal entity<\/strong>, committed to the\u00a0<strong>Georgian market<\/strong>\u00a0and the\u00a0<a href=\"https:\/\/www.companyformationgeorgia.com\/company-act-georgia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Georgian Company Law<\/strong><\/a>.<\/p>\n\n\n\n<p>If you have already decided what business form you want to open in this country, please\u00a0<a href=\"https:\/\/www.companyformationgeorgia.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>contact our company formation agents in Georgia<\/strong><\/a>\u00a0for more information regarding the necessary procedures.<strong>\u00a0Our specialists<\/strong>\u00a0can offer advice on the main advantages of operating here through a branch office or a<strong>\u00a0Georgian subsidiary in 2024<\/strong>. If you need to open a company in other countries, such as\u00a0<strong><a href=\"https:\/\/www.avocati.co\/\" target=\"_blank\" rel=\"noreferrer noopener\">Romania<\/a><\/strong>, you may contact our local partners.\u00a0<\/p>\n\n\n\n<p>If you do not want to operate through a<strong>&nbsp;subsidiary&nbsp;<\/strong>or you think it is not suitable for your business strategy, you can rely on us for the registration of a branch office.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In the case in which you want to<strong>&nbsp;open a company in Georgia<\/strong>&nbsp;through a branch office, our team can prepare the documentation (the parent company\u2019s documentation must also be submitted as a part of the registration file).&nbsp;<\/p>\n\n\n\n<p>Regardless of the way chosen to&nbsp;<a href=\"https:\/\/www.companyformationgeorgia.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>open a business in Georgia<\/strong><\/a>, you will be required to pay a registration fee. The value of the fee varies based on the type of registration you opt for.&nbsp;<\/p>\n\n\n\n<p>In&nbsp;<strong>Georgia<\/strong>, investors have 2 options \u2013 the standard registration and the expedite registration and the fees charged are of GEL 100 or GEL 200 respectively. These fees are charged regardless of the company type you will register.&nbsp;<\/p>\n\n\n\n<p>Once the company will become active, you can rely on us for the accounting and the bookkeeping of your business, which can be completed with the assistance of&nbsp;<strong>our accountants in Georgia<\/strong>.&nbsp;<\/p>\n\n\n\n<p>Accountants are only those who have obtained a certification in this field and no other individuals can maintain the financial documents of your business, regardless if you operate through a small or large business.&nbsp;<\/p>\n\n\n\n<p><strong>Georgia<\/strong>\u00a0has one of the simplest registration procedures at a global level, and this can be a major advantage when\u00a0<strong>starting a subsidiary in 2024 in Georgia<\/strong>, as the bureaucracy is very reduced here. In fact, the country ranks as the 2nd global destination when we refer to the ease of company incorporation process. Overall, the country stands as the 7th global destination in the Doing Business Report, with a total of 83.7 points (out of total of 100). <\/p>\n\n\n\n<p>According to the World Bank,&nbsp;<strong>Georgia<\/strong>&nbsp;also has very good scores when it comes to the steps for the registration of a property (the 5th place) and the rules created for the protection of the minority investors (7th place).&nbsp;<\/p>\n\n\n\n<p>These aspects can also be of importance for those considering\u00a0<strong>starting a subsidiary in Georgia<\/strong>\u00a0in 2024. Georgia has good ranks for the enforcement of contracts (12th rank) and paying taxes (14th).\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The shareholder of a&nbsp;Georgian subsidiary&nbsp;is represented by the foreign company that decides to operate in a foreign market through this business form.&nbsp;Unlike the&nbsp;branch, this type of business form gives the&nbsp;foreign company&nbsp;the possibility to detach itself from the&nbsp;liabilities of its subsidiary. The foreign parent company will thus establish its presence in&nbsp;Georgia&nbsp;by&nbsp;incorporating a new company&nbsp;in the country. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":667,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[38,37,11,35,36],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Set up a Subsidiary in Georgia - Updated Guide 2024<\/title>\n<meta name=\"description\" content=\"A subsidiary in Georgia is a separate legal structure that is not dependent on the foreign parent company. 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