Company Registration In Georgia

What are the Benefits of Company Registration in Georgia?

From international company status to virtual IT zone tax status, enjoy low corporate and VAT rates & exemptions after company registration in Georgia. The benefits are as follows:

• Major Double Tax Treaty Benefits
  Georgia has double tax treaties with over 50 countries, which help foreigners optimize their tax liabilities in their home countries through credits, deductions, and exemptions. They also benefit from reduced rates on dividends, royalties, and interest.
• Free Trade Zones
  Certain regions and business sectors in Georgia provide favourable tax regimes like a 0% effective corporate/VAT rate for virtual tech companies on exports, a 5% reduced rate on dividends, and other import benefits.
• Low Tax Regime
  Compared to several countries, Georgia has a 15% corporate tax rate, which is competitive as opposed to many European and Asian jurisdictions. The low rate significantly reduces the tax liability of a company and its shareholders. Also, companies that redirect their earnings can do so with a 0% tax on reinvestment or retained profits.
• No Burden of Heavy Funding
  As a new startup founder, you don't have to worry about raising a lot of capital as an initial deposit for online company incorporation in Georgia because there is no mandatory requirement for startup funds. You can set up a business with just 1 GEL.
• Foreign Company Ownership
  Unlike a lot of EU jurisdictions, you don't need assistance of a resident-based director for company registration in Georgia.
• Strategic Location
  Georgia is located between Europe and Asia, making it an excellent choice for global trade and ease of access to international markets. Further, it has a trade agreement with the European Union (DCFTA).
• Special Scheme for Small Businesses
  If you register as a single entrepreneur and meet the requirements, then you may qualify for the 1% turnover tax after company setup in Georgia.

What is the Criteria for Company Formation in Georgia?

The criteria for Company Formation in Georgia are as follows:

• At least one shareholder must be at least 18 years of age.
• A registered business address is required to open a business in Georgia.
• A minimum of one director (shareholder and director can be the same).
• The proposed name should be unique and not conflict with Georgia's rules.
• One local authorized agent to ease the registration process.
• No minimum capital is required, but sufficient working capital should be maintained as per the business activity.
• Incorporation documents, such as a charter and shareholder resolution, are required for submission.
• Georgian translations for all foreign documents.
• AML and KYC checks before corporate bank account opening.
• All foreign documents must be legalized and apostilled.

Prominent Businesses and Industries for Company Registration in Georgia

You should make sure that your desired business activity is eligible for company registration in Georgia before the formal application is filed with the online portal.

• Tech
• Logistics
• Tourism
• Green Energy
• Digital Services and Marketing
• Web Development
• IT Consulting and SaaS
• Business and Management Consulting
• Global Trading
• E-commerce Operators
• Online Marketplaces
• Logistics and Freight Forwarding
• IPR and Investment Holding
• AI and Machine Learning Development
• Fintech
• Blockchain and Web3 Development

Types of Structures for Online Company Registration in Georgia

The types of structures for online company registration in Georgia are as follows:

• Limited Liability Company: A highly popular choice for foreigners, an LLC is the most preferred choice for non-residents because it can be started with just one person and doesn't require a lot of funds for setup. Shareholders are not personally liable for the debts of the company.
• International Company: A company that is a limited liability company but gets a special status of a favourable tax regime, like a reduced 5% corporate & personal income tax and a 0% tax on dividends. The status is only granted to businesses that have at least two years of experience in global operations in the field.
• Joint Stock Company: A good option for foreigners with large-scale business plans and large company setup that would eventually raise capital through venture capital, private equity, or public offerings to open a company in Georgia.
• Individual Entrepreneurs: Ideal for small businesses, sole entrepreneurs, and freelance professionals. You can take advantage of the 1% reduced tax on your turnover. The owner is liable for all debts and outstanding taxes.
• Branch Office: A branch office is used by established foreign companies that are looking to extend their operations in the tax-friendly jurisdiction without opening a separate legal entity. Common example: a tech company.
• Limited Partnership: You require at least two members: a general partner with unlimited liability and a limited partner with liability protection for personal assets.

How to Register a Company in Georgia with Corpbiz?

Corpbiz's assistance to register a company in Georgia is explained below:

1. Step 1: Choose a Name
   We help clients search for a company name so you don't choose a name that is similar or identical to an already registered company, avoiding early rejections.


2. Step 2: Document Preparation
   Corpbiz's legal team will draft your company charter, shareholder resolution, and business plans. All documents will be legalized and apostilled by our legal associates.


3. Step 3: Appoint an Authorized Representative
   Foreigners who want to apply for Georgia company incorporation need an authorized representative before the authorities for application filing, company bank account opening, and tax registration.


4. Step 4: Secure a Company Office Address
   A registered address is needed for company registration in Georgia. Based on your business activity, we help secure an address like a virtual office, a flexi desk, a co-working space, a warehouse, or a small private office.


5. Step 5: File Your Application
   Your appointed representative will file the application with the required documents and fees through the online portal of the National Agency of Public Registry.


6. Step 6: Enrol for Taxes
   You will need to register for taxes if you want to be eligible for exemptions, benefits, and open a bank account. We prepare your documents and submit them with the application to the Revenue Service of Georgia.


7. Step 7: Set Up a Business Bank Account
   A business bank account helps Georgian businesses manage their expenses, make payments, and deposit funds. Common banks are Bank of Georgia, TBC Bank, and ProCredit Bank Georgia. Some fintech options include Wise Business and Payoneer.


8. Step 8: Apply for Virtual IT Zone Status
   If you intend to export tech services, then you can apply for the zone status to claim the qualifying 0% tax and VAT benefits.

Why Trust Corpbiz for Georgia Company Incorporation?

• Decade of Proven International Registrations
  With 10+ years of experience in Georgia company incorporation, we have successfully registered over 637 companies in Georgia.
• Individual Specialists for Each Client
  Simplify your registration, bank account opening, and tax setup through a single point of contact- no more confusion.
• Tax Status Expertise
  Network of 200+ experts to guide and help you apply for virtual zone, international company, free zone, and small business tax status for effective tax optimization.
• Banking Assistance
  From initial KYC checks & business plan drafting to compliance documentation & remote onboarding- end-to-end support.
• 100% Transparent Costs
  There are no hidden charges for company registration in Georgia.
• Engagement Model
  Make your choice after a free consultation- get initial name search, structure, and NAPR documentation- all figured out within 30 minutes.
• Ongoing Compliance
  We are not going anywhere after your company setup in Georgia- get timely alerts, filing reminders, and eventual submissions for 12 months- all-inclusive.
• Foreign-Friendly
  Now get apostilles, legalizations, translations, and power-of-attorney drafting- fully managed by us, so you don't have to worry about online Georgia business setup.
• Wide Range of Activities
  Apart from business registration in Georgia, we also provide trademark registration, watch, brand monitoring, investor pitch deck services, and a virtual office.