The 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%.