
The
bitcoin industry in Georgia is developing at a fast pace, as the country created in 2015 a
free industrial zone in Tbilisi, the capital city of the country. The region aims at attracting local and
international companies operating in the
IT industry, including
cryptocurrency businesses. A
cryptcurrency company designates a type of business which uses
cryptography methods in order to
secure virtual transactions. Investors interested in
opening a company in Georgia should know that the country represents a
major player for bitcoin activities, especially in the field of
gambling operations.
Our team of company formation representatives in Georgia can offer in-depth advice on the registration of a
cryptocurrency legal entity.
The free industrial zone in Georgia
Cryptocurrency businesses interested in
investing in Georgia may set their activities in the
free industrial zone, a region dedicated to
IT operations. The
free industrial zone is situated close to
Tbilisi (at a distance of only 17 kilometers away from the city’s center) and it offers a preferential
taxation scheme for
companies that operate in the respective industries accepted there.
Investors who want to start the procedure of
company registration in Georgia in the
free zone can benefit from relevant
taxation exemptions. However, such
companies will be required to
pay the following taxes:
• lease tax;
• income tax on salaries for the persons employed by the companies.
A
bitcoin center was also opened in
Gldani, which represents the
largest bitcoin data center of the country.
Our team of company formation agents in Georgia can offer in-depth advice on the main benefits of
registering a cryptocurrency business in this country.
Reasons to invest in the bitcoin field in Georgia
The development of the
bitcoin field in Georgia was a direct consequence of the attractive business environment available here. In this sense, it is important to know that foreign investors decided to start the procedure of
company incorporation in Georgia in the
bitcoin field due to the following:
• relevant taxation system;
• low corruption;
• competitive energy costs;
•
competitive
labor costs.