Welcome expats! Start your business in Georgia

Welcome to Georgia, the Caucasus country that is fast becoming a hub for entrepreneurs and investors from all over the world. With its favorable business environment and strategic location between Europe and Asia, Georgia is the perfect destination for expats looking to start their own company. In this article, we will guide you through the process of registering your business in Georgia, step by step.

Why choose Georgia for company registration

There are many reasons why Georgia is rapidly gaining popularity among expats as a destination for company registration. Firstly, the country has a very low tax burden, with a flat income tax rate of only 20%. Secondly, Georgia has a very liberal and business-friendly economic policy, making it easy for entrepreneurs to set up and run their own companies. Finally, Georgia is strategically located between Europe and Asia, making it a great place for companies looking to expand their business in both regions.

Step-by-step guide to register your company

The process of registering your company in Georgia is relatively straightforward, although it does require some paperwork. Here is a step-by-step guide to help you navigate the process:

1. Choose a business name and reserve it with the National Agency of Public Registry (NAPR).
2. Prepare your company’s articles of association.
3. Obtain a certified copy of your passport or ID card.
4. Register your company with the NAPR and obtain your registration certificate.
5. Open a business bank account.
6. Register for tax and social security with the Revenue Service.
7. Obtain any necessary business licenses or permits.

Business structures in Georgia: which one to choose

There are several business structures available for company registration in Georgia, including Limited Liability Companies (LLCs), Joint Stock Companies (JSCs), and Sole Proprietorships. The most popular structure for small businesses is the LLC, which offers limited liability protection and a simple registration process. However, if you plan to raise capital through public offerings, a JSC may be a better option.

We hope that this guide has been helpful in getting you started on your journey to register your company in Georgia. With its favorable business environment, strategic location, and low tax burden, Georgia is becoming an increasingly popular destination for expats looking to start their own business. Remember to get legal support and do your due diligence before making any big decisions, and good luck with your new venture!

Taxation in Georgia: what you need to know

As mentioned earlier, Georgia has a very low tax burden, with a flat income tax rate of only 20%. In addition to income tax, companies are also required to pay value-added tax (VAT) and social security contributions for their employees. However, there are many tax exemptions and incentives available for companies operating in certain sectors, such as tourism or agriculture.

Get legal support to register your company

While the process of registering your company in Georgia is relatively straightforward, it is always a good idea to get legal support to ensure that everything is done correctly. A local lawyer or accountant can guide you through the process and help you navigate any legal or bureaucratic hurdles. Moreover, having a local partner can be invaluable when it comes to networking and understanding the local business culture.