Georgia has a great economic potential and also is seen as a very attractive business destination. Investments in Georgia are encouraged through a series of tax measures and through constant infrastructure development. Import and export activities are also encouraged and other important projects are about to be implemented in the region. The Georgian Minister of Finance has recently declared that the country supports the privatization of state owned property. This could be a good opportunity for investments in Georgia and one that will attract even more foreign investors.
Important economic projects
A new government program named “Strong Regions Contribute to Strong Georgia” has recently been presented by the Georgian Prime Minister. Investments in Georgia have been plentiful, especially in areas such as: the processing industry, mining, energy, transport, communications or real estate. One of the regions in Georgia that has benefited from a large number of investments was the Kvemo Kartili, situated in southeast Georgia. However, business initiatives in many Georgian areas are well supported by the authorities.
As a foreign investor in Georgia, you might need help deciding where to invest. Our company formation experts in Tbilisi
can advise you about the best businesses and investment opportunities throughout Georgia.
Stimulating vehicle imports
One investment area that has received much attention from Georgian authorities is the one concerning vehicle imports. The Georgian Ministry of Finance intends to simplify the taxation principles contained in the Georgian Tax Code that addresses vehicle transportation. This measure is intended to stimulate businesses in the area and the government authorities have also talked with employees in the sector and other individuals engaged in vehicle transportation businesses in Georgia.
According to the proposed changes, owners of mechanic vehicles imported in the country until April 1st 2015 will be waived the penalties that were drafted in the Tax Code, under certain conditions. This will lower the cost of the vehicle and increase the sales opportunities.
If you are performing import and export activities in Georgia
and you are dealing with importing various types of vehicles, our Georgian company formation experts
can help you better understand this measure. Please do not hesitate to contact us
, if you have any questions.