
The
agriculture sector in Georgia represents an important field for the local economy. With a
suitable climate and fertile soils, the
Georgian terrains are proper for
cultivation of various types of crops. Investors who want to
open a company in Georgia in the
agriculture sector should know that this field, alongside with the
agribusinesses set up here, represent 9.2% of the local gross domestic product (GDP).
Our team of company formation agents in Georgia can offer legal assistance for
registering a business in this field.
Opening a Georgian company
The process of
company registration in Georgia is relatively simple and similar with the
incorporation procedure applicable in other countries. The investors may choose one of the
legal entities available under the local legislation and then register the respective
business form with the
Entrepreneurial Register.
The institution will provide an
identification number for the
legal entity, as well as a
certificate for tax registration. The procedure will also include the payment of certain registration fees and
our team of company formation consultants in Georgia can provide more details in this sense.
When
opening a company in Georgia, the businessmen will also need to
open a corporate bank account and this step can be completed during the registration with the
Entrepreneurial Register.
The business should also register for
value added tax, as long as the
company’s transactions are above the sum of GEL 100,000 (approximately EUR 37,000) on a 12 months basis. The main institution which handles the procedure is the
Revenue Service, working under the
Ministry of Finance of Georgia.
Agriculture field in Georgia
It is recommended to start the procedure of
company formation in Georgia in the field of
agriculture due to a wide set of reasons. As mentioned above, the country’s climate represents an attractive reason to
start an agriculture company, but other reasons can aim at the costs related to this type of business, which are cheaper than in the case of other industries.
Georgia also benefits from an increasing market size, under the following trading agreements:
• Free Trade Agreement signed with countries such as Turkey or Ukraine;
• Deep and Comprehensive Free Trade Agreement, signed with the European Union’s member states.