
With an economic growth estimated at
4.2% for 2018 (up from the previous year) and numerous policies addressed to the business sector,
Georgia represents an attractive destination for
setting up a company.
Batumi, the
second largest city of the country, is an appealing destination for starting the procedure of
company formation in Georgia, especially in the
tourism sector.
The
incorporation of a legal entity in Batumi is completed following the legislation on the matter available at a national level;
our team of consultants in company registration in Georgia can assist foreign businessmen in all the procedures involved in this case, and can help investors in
choosing a suitable business address in this city.
Choosing a legal entity in Batumi, Georgia
Prior to starting the procedure of
opening a company in Georgia, the investors should verify the main eligibility conditions imposed to foreigners. Then, the main aspect that should be discussed by the future investors is the
legal entity under which they will operate on the local market.
As prescribed by the
commercial legislation, foreign businessmen can set up one of the following
business forms:
• individual entrepreneur;
• cooperative;
• general partnership;
• limited partnership;
• joint stock company;
Register a bank account for a Georgian company
Any
commercial company set up in Georgia is required to have a
corporate bank account, registered with any
commercial bank operating in
Batumi. The overall cost of the procedure depends on the
bank with which the investors will collaborate, but all
financial institutions will ask for the same
company’s documents and
our representatives can assist with in-depth information on this matter.
In this sense, a bank can require a signature sample from the company’s directors, as well as the identification documents of the investors. It is also mandatory to provide the company’s tax registration certificate, a document which will be issued by the local authorities prior to starting this particular procedure.
Furthermore, all
companies have to
register for tax purposes and for
social security, procedures that will be completed in a specific order.
Investors are invited to
contact our team of specialists in company registration in Georgia for consultancy services concerning the
incorporation of a
legal entity in Batumi.