Georgia can represent the ideal location for starting an
information technology (IT) company, as the field has been developing at a fast pace in the last years. Investors interested in
opening a company in Georgia in the
IT sector should know that at the level of 2009, only 20% of the population had
internet access and only few years later, in 2013, the growth rate increased to 43%.
Our team of company formation agents in Georgia can offer more details on the
registration of an IT company, as well as on the business permits that will be required for specific business activities.
How to open an IT company in Georgia
An
IT company in Georgia is registered following the standard registration procedure. After deciding on the type of
legal entity for the
IT business, the investors will be required to perform the standard procedure of
company formation in Georgia, which will start by registering the
entity with the
Entrepreneurial Register.
All the
commercial companies in Georgia are required under the local legislation to establish a
corporate bank account, in which the
company’s representatives will deposit the
minimum share capital, depending on the
business form chosen for incorporation. Also, since it performs taxable activities, the
company will have to register for
value added tax (VAT) and for social security matters.
The characteristics of the IT sector in Georgia
The
IT sector in Georgia provides numerous business opportunities as it has the highest share of Gross Domestic Product (7%) compared to the neighboring countries. Investors interested in
company registration in Georgia in this field can set up their operations in the
top IT sub-fields:
• fixed telephony;
• mobile telephony;
• digital television;
• mobile services.
At the same time, it is important to know that investors may access a wide range of programs and incentives, designed to assist
companies operating in the
IT sector.
Foreign companies in Georgia may benefit from
VAT and corporate tax exemptions.
If you need to
open an IT business in other countries, such as Romania, we can put you in touch with our local partners.