The process of establishing a company in Georgia will take no more than a week, provided that all rules and requirements have been properly followed. Some industries in this jurisdiction have zero VAT rates, while the standard rate is 18%. These areas include shipping with the involvement of international partners, exports, electricity, tourism and others. Profits are subject to a 15 percent tax levy. 5% is paid from dividends received by non-residents.
It is allowed to register a company in Georgia remotely, with a power of attorney issued in favor of a representative of the interests of the founder. Any person can run a business, act as a founder and shareholder, that is, there are no requirements for residency or citizenship.
Foreign investors quite often pay attention to Georgia for the following reasons:
- non-residents are exempt from paying tax duties;
- the country is not included in any lists that could discredit this jurisdiction;
- excellent reputation;
- no reporting required;
- income is not subject to declaration.
For such forms of business as LLC and the like, there are no requirements for the minimum capital. On the whole, there are no sufficiently strict regulations and other procedures. What will need to be observed:
- choose a permanent legal address within the state;
- only a local specialist has the right to notarize documents;
- the founders’ contributions and capital are subject to mandatory assessment, which is indicated in the corresponding certificate attached to the registration package.
In addition, investors should take care to come up with at least three unique names for the company. However, similarities with the names of already established organizations are allowed. Georgia is not officially considered an offshore, but it is quite a profitable jurisdiction.
Registration of a Georgian enterprise
To start the registration process, you need to draw up an application and submit it along with a package of documents, including:
- copies of the internal and external passports of the founder for the creation of an individual entrepreneur or identification documents for shareholders and directors;
- The Statute;
- a certificate confirming the assessment of deposits, and a receipt for payment of the registration fee;
- owners’ signatures and a power of attorney for a representative.
The application must be completed in 2 copies. It contains the full name of the company, organizational form and address. In the case of incorporation of a limited company, it will be necessary to enter the amount of the contribution received from each of the owners.
If you need to register a company in Georgia, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Georgia. Write to us in the CRM form and we will help you register a company.
Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.
We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.
If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.