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Company Formation in Georgia

Top 5 Advantages of company registration in Georgia

  1. Strategic location
  2. Dynamic business culture
  3. Non-discriminatory approach to investors
  4. Simple and quick incorporation process
  5. Low taxes
Packages to choose from
Services
SmallMediumLarge
We do the whole registration process, including the preparation of all needed documents, communication with state authorities and notaries
Incorporation
We provide a local contact person who speaks the language and communicates with authorities
Company contact person
You receive from us a legal address for your company, thus, no need to rent/buy a physical office
Legal address for 1 year
You do not need to visit this jurisdiction personally to incorporate - this will save time and money
Remote incorporation
We accompany you during the whole legal process for a successful incorporation
Notary services
We provide a local contact person who speaks the language and communicates with authorities
Company secretary
We will be able to identify nominee shareholders for you, in case you want to become completely anonymous
Nominee shareholder
If you want to be an unknown UBO, a nominee director service is useful. This director will only have limited access and powers, so the UBO will have full control on all levels.
Nominee director
We provide you with the complete accounting needed for this jurisdiction, including monthly and yearly statements
Accounting for 1 year
You grant us a power of attorney to carry out activities for you in the jurisdiction with different powers and terms of validity
Long-term POA
Authenticates the seals and signatures of your official company documents stating the rights and obligations of the entity's members or stakeholders of the company of any form of ownership in accordance with the laws of the jurisdiction
Apostille of documents
A specific amount of hours of legal support by local legal professionals you may use on demand
Additional legal support
We help you to open a corporate account that suits your business model
Corporate account
SHELF COMPANIES
NOT LEGAL
How to start
Choose a jurisdiction1.
Pick a bank2.
Pay for the service using a suitable method3.
Receive credentials of your new legal entity4.
Get credentials of your opened bank account5.
Receive a package with documents delivered to you6.

Roadmap

How long does it take to register a Company in Georgia?

It would be not fair to set your expectations in a way to assume for the incorporation to be finished within a day. In some jurisdictions it is extraordinary fast (for example in Estonia) in some slower. It all boils down to one thing: 'When are the necessary (basic) documents ready?' The process is counted from the moment on we have all the needed documents. Please consult with our consultants to understand what documents you need to kick-start the process.

  • 1-3 working days if all requirements are complete
  • 5-7 days for remote incorporation (this will include time allotted for apostil of important documents.
  • Additional day/s will be allotted if you also want to include bank account opening.

What are the steps to register a company in Georgia?

The registration process of a company in Company Formation in Georgia with LegalBison is very simple. There are only 6 steps:

  • Initial consultation and agreement
  • Payment of the full invoice
  • Discuss whether who or to appoint a registered agent

There is also no minimum required capital.

Note: The most recognized business structure in Georgia in a Limited Liability Company (LLC) and Individual Enterprise

Taxes

How high are the corporate income tax in Georgia?

All income of the company whether sourced locally or internationally, is taxable at a flat rate of 15%. Under the new Tax Code, submission of CIT returns must already be done periodically or monthly.

  • Retained profits are not taxable until distributed

What Double-tax treaties has Georgia?

These are the countries Georgia has a tax avoidance treaty in force:

Austria, Azerbaijan, United Arab Emirates, Belgium, Bulgaria, United Kingdom, Germany, Denmark, Spain, Estonia, Turkey, Turkmenistan, India, Israel, Iran, Italy, Ireland, Japan, Qatar, Lithuania, Latvia, Luxemburg, Malta, Netherlands, Poland, Portugal, Romania, Greece, Singapore, Slovenia, Armenia, France, Uzbekistan, Ukraine, Hungary, Finland, Kazakhstan, Switzerland, China, Czech Republic, Slovakia, Bahrain, Norway, Egypt, Serbia, San Marino, Kuwait, Croatia, Belarus, Iceland, Cyprus, Korea, Liechtenstein, Moldova, and Saudi Arabia.

VAT number

Without VAT number

  • A company that is not subject to mandatory VAT registration will be liable for a fixed tax instead

With VAT number

  • VAT registration is either voluntary or mandatory. Any company may voluntarily apply for VAT registration but is mandated to do so if its VAT-taxable transactions for the previous 12 months have reached at least GEL 100,000
  • VAT rate is at 18%. VAT returns and payment must also be done monthly

Decide first

  1. Do you have a company now?
  2. Decide what structure do you intend to register.
  3. Note: There’s no concept of a ready-made company (shelf) in this jurisdiction.

Documents to provide for company registration in Georgia

  • Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
  • A Power of Attorney (POA) from (all) partners/shareholders is needed (in case of a remote company registration)
  • Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in Georgia

  • 3 options of your desired name for the company and a company contact email address
  • Names, addresses and emails of all shareholders and board members
  • Short description of your companies’ activity

Remote incorporation

  • Georgia allows for total remote incorporation including opening of bank account for the company
  • Aside from the necessary authorizations and POA, what is only required is the certified signature samples of the shareholder/s and director/s

Accounting and auditing

  • Georgia follows the IFRS accounting standard for small and medium companies or enterprises
  • Big enterprises with total value assets of over GEL 10 million or an annual revenue of GEL 20 million (or at least 50 employees) are required to keep and maintain their books and submit their audited financial statements by an independent qualified accountant
  • In addition to that, the big enterprises are also required to submit management report annually

Residential requirements

What are the residential requirements in Georgia?

  • Georgia is one of the few countries that allows for total foreign ownership of a domestic corporation
  • This is one of their way to encourage foreign investment in their country

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.

FAQs about company registration in Georgia