1. Can a foreigner open a company in Georgia?
Yes. Georgia is a very attractive destination for foreign investments
and the Government supports foreign entrepreneurs.
2. What are the types of companies that can be incorporated in Georgia?
The most popular business type of company
is the limited liability company but other options are the joint stock company, the cooperative, partnerships, sole proprietorships or branches of foreign corporations.
3. Does the company need to have an office in Georgia?
4. What are the steps for company incorporation in Georgia?
After choosing the right type of company, the investors will need to choose an available company name and start the registration procedure with the National Agency of the Public Registry. After the company is registered it can apply for other permits and for VAT registration
. Finally, the investor can hire employees.
5. What is the minimum share capital in Georgia?
The minimum share capital
depends on the type of company. For example, the limited liability company
does not require a paid-up capital, which makes it an attractive business form.
6. What are the requirements for opening a bank account in Georgia?
In order to open a bank account for a company the investor must provide documents regarding the corporation or the sole proprietorship. The fees for opening a bank account will depend on the bank.
7. Do you need special permits and licenses in Georgia?
Yes. Certain business activities require investors to obtain special permits and licenses
for example must obtain various permits for storing and selling food products.
8. What are the taxes for companies in Georgia?
The corporate income tax, the property tax, the value added tax or various customs duties are payable by companies in Georgia. Other taxes and duties like taxes on gambling are levied in the country.
9. How fast can you start a new business in Georgia?
The duration of the incorporation procedure depends on the type of company and if all the documents are in order. On average, the investor will need about one week.
10. What are the reasons to invest in Georgia?
A good geographical location
, friendly tax system
, Free Economic Zones
and numerous possibilities for investments are just some of the reasons why Georgia is attractive for foreign entrepreneurs.