Company Register in Georgia

Foreign businessmen who want to open a company in Georgia can select one of the company types that are prescribed under the country’s national legislation. The investors may choose between companies with limited liability, joint stock companies or partnerships. The partnerships that can be set up in Georgia are available as limited partnerships or general partnerships. Also, foreign companies may enter the local market by opening a subsidiary or a branch office and our team of specialists in company registration in Georgia can provide in-depth assistance on these business structures. 

 

How can an investor register a Georgian company? 

• • date of starting the business and a notarized copy of the company’s statutory documents;
• • providing information on the founder of the company (name, address, place of birth and the profession),
• • the amount of share capital and details regarding the contribution of each partner;
• • documents regarding each member of the supervisory board and management board.

 

A limited liability company (LLC) is formed by maximum 50 shareholders and the capital is divided into shares. The advantage of a Georgian LLC is given by the fact that the investors will be liable for the company’s debts only to the amount of the shares they own in the company. The shares are freely transferable and the members of the company are not allowed to withdraw. Other characteristics of the LLC are the following: 

 

 

The joint stock companies are business forms with the capital divided into shares with equal nominal value and this type of legal entity can be registered with more than 50 members. The members of the joint stock companies have the responsibilities limited to the nominal value of their shares and it is important to know that the investors of this type of company may issue additional shares.

 

A general partnership in Georgia can be incorporated by minimum two partners, who have equal liability for the company’s profits and losses. They both have decisional powers. In the case of a limited liability partnership in Georgia it is also necessary to associate at least two partners, with the difference that one will have the quality of a general partner, while the other will be a limited partner. The general partner carries the full responsibility for the company’s debts and incomes, unlike the limited partner who has limited responsibilities in extend of his/her contribution to the company’s capital.

 

Furthermore, foreign investors can operate on the local market through a branch office, which is a type of company that is managed and controlled by the foreign company abroad. In this case, the parent company is held responsible for any debts and financial difficulties related to the branch office registered in Georgia. 

 

• • provide a decision of the parent company related to the registration of a branch office in Georgia;
• • provide the parent company’s statutory documents and a proof regarding that the parent company is a registered entity in its country of origin;
• • a decision which states the name of the appointed director of the branch office or of any other legal representative which has the right to represent the office in Georgia;
• • an evidence regarding the company’s registered address in Georgia;
• • the identification documents of the branch’s appointed director and an evidence regarding the payment of the registration fee. 

 

How can an investor open a bank account in Georgia? 

• • the procedure will incur the payment of a small fee, which ranges from GEL 10 to GEL 100, depending on the fees established by each commercial bank;
• • the investors will need to provide the company’s tax registration certificate;
• • it is also necessary to provide copies of the identification documents of all the persons that can represent the company;
• • it is also compulsory to offer a signature sample of the company’s director. 

 

What are the main VAT obligations in Georgia? 

 

For more details regarding the registration of a company in Georgia, we invite you to contact our specialists in company formation, who can offer further information on any aspect concerning the registration procedure. Investors may also request assistance on the tax regulations applicable to a specific business structure.