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Support for Firms That Take Part in Innovative Activities in Georgia

Written by: Bridgewest

Support-for-Firms-That-Take-Part-in-Innovative-Activities-in-Georgia.jpgThe Georgian government has started in the last years several large investment projects, set out in order to attract local and foreign investors who can have very good economic prospects on this market. One of the latest projects that will be enforced by the Georgian authorities aims at the innovation in businesses, sustained through a project developed alongside with the World Bank, which will invest $40 million. Businessmen who want to open a company in Georgia can receive assistance on this matter from our team of Georgian company formation specialists
 

Georgian National Innovation Ecosystem Project

 
The Georgian National Innovation Ecosystem Project received a loan of $ 40 million from the International Bank for Reconstruction and Development, which has been approved by the World Bank
 
The project is aiming to improve the financial environment available in Georgia, by establishing a framework in which companies can base their operations on digital economy; the project is also referring at the innovation and technology approach businesses should implement in Georgia
 
Through this project, the government will establish investments in the business community through financing access to internet and modern means. The project is particularly dedicated to the agricultural industry; small businesses and household agricultural enterprises will be sustained in this sense. Entrepreneurs who are interested in this matter can receive assistance from our team of Georgian company formation specialists
 

Economic framework in Georgia 

 
Investors who want to establish their business presence on the Georgian market should know that the state turned into one of the most advantageous environments in the region. It is important to know that business registration represents a simple process comprised of only few compulsory steps; at the same time, newly formed companies in Georgia are not required to provide a minimum share capital. 
 
The income tax rate is established at 20%, while the corporate tax is imposed at the rate of 15%. 
 
If you need further information on the investment projects carried out in Georgia, please contact our team of Georgian company formation specialists for assistance. 
 

Comments

  • Abraham 2016-04-08

    In the Caucasus region, Georgia represents one of the best business environments available to foreign investors. The local authorities are announcing on a regular basis new investment projects designed for various sectors in an attempt to use the country's potential.

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