{"id":14,"date":"2016-08-02T04:33:38","date_gmt":"2016-08-02T04:33:38","guid":{"rendered":"http:\/\/kroth:8888\/checkout\/"},"modified":"2023-01-24T00:46:32","modified_gmt":"2023-01-23T20:46:32","slug":"business-in-georgia","status":"publish","type":"page","link":"https:\/\/inc.ge\/ru\/business-in-georgia\/","title":{"rendered":"Georgia"},"content":{"rendered":"<div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Business Environment<\/h2>\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1345\" height=\"350\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/georgiaheader.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"Starting Business in Georgia\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/georgiaheader.jpg 1345w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/georgiaheader-300x78.jpg 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/georgiaheader-1024x266.jpg 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/georgiaheader-768x200.jpg 768w\" sizes=\"auto, (max-width: 1345px) 100vw, 1345px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">Georgia is a great destination for investors and companies from all around the world with stable economic development, liberal and free market oriented economic policy, low tax rates, signi\ufb01cantly simpli\ufb01ed administrative procedures, low level of corruption and bureaucracy, signi\ufb01cantly decreased number of licenses and permissions, competitively priced workforce, lack of language barrier, advantageous geographic location and access to 2.3 billion consumer market through its solid FTA network including both EU and China.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Georgia is a member of the United Nations, the Council of Europe, the World Trade Organization, the Organization of the Black Sea Economic Cooperation, the Organization for Security and Cooperation in Europe, the Community of Democratic Choice, the GUAM Organization for Democracy and Economic Development, and the Asian Development Bank.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Georgia&#8217;s impressive progress in improving business environment is well reflected in a number of international indices. Country is considered as a politically stable, corruption-free investment destination with low business costs.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Georgia is maintaining its position among the world\u2019s top 10 economies in the World Bank Group\u2019s annual Doing Business report, which measures ease of doing business. In 2019 Georgia has moved up to 6th place in the global rankings and is currently the highest ranked economy in the Europe and Central Asia region.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_center\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1207\" height=\"740\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/GeorgiaDoingBusiness.png\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/GeorgiaDoingBusiness.png 1207w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/GeorgiaDoingBusiness-300x184.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/GeorgiaDoingBusiness-1024x628.png 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/GeorgiaDoingBusiness-768x471.png 768w\" sizes=\"auto, (max-width: 1207px) 100vw, 1207px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1205\" height=\"136\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/DB3.png\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/DB3.png 1205w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/DB3-300x34.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/DB3-1024x116.png 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/DB3-768x87.png 768w\" sizes=\"auto, (max-width: 1205px) 100vw, 1205px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-4\"><div class=\"vc_column-inner vc_custom_1586392682975\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-family: Montserrat, sans-serif; font-size: 14px;\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Source: <a href=\"https:\/\/www.doingbusiness.org\/en\/data\/exploreeconomies\/georgia\"><i>World Bank (2020)<\/i><\/a>\u00a0 \u00a0<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container text-center vc_col-sm-4\"><div class=\"vc_column-inner vc_custom_1586393592479\"><div class=\"wpb_wrapper\"><a class=\"krth-btn btn-secondary  btn-medium krth-btn-69e13dad1c901 btn-hover-one btn-icon-left rounded-three\" href=\"https:\/\/www.doingbusiness.org\/content\/dam\/doingBusiness\/country\/g\/georgia\/GEO.pdf\" target=\"_blank\"><i class=\"fa fa-file-pdf-o\"><\/i><span class=\"btn-text\">Download Profile.PDF (1.74MB)<\/span><\/a><\/div><\/div><\/div><div class=\"wpb_column vc_column_container text-left vc_col-sm-4\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><a class=\"krth-btn btn-secondary  btn-medium krth-btn-69e13dad1cad7 btn-hover-one btn-icon-left rounded-three\" href=\"https:\/\/www.doingbusiness.org\/content\/dam\/doingBusiness\/country\/g\/georgia\/GEO-LITE.pdf\" target=\"_blank\"><i class=\"fa fa-file-pdf-o\"><\/i><span class=\"btn-text\">Download Snapshot.PDF (833KB)<\/span><\/a><\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner vc_custom_1586393573664\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<blockquote class=\"blockquote-two  krth-blockquote-69e13dad1d0d7\">\n<ul>\n<li>In Georgia it is easy to start a business Georgia by simplified post-registration procedures (tax registration, social security registration, licensing)<\/li>\n<li>Georgia has special tax exemptions for virtual zone entities, free industrial enterprises, special trading companies, tourist enterprises, etc.<\/li>\n<li>Georgia has double tax avoidance treaties with more than 50 countries, including the China, Germany, UK and Spain.<\/li>\n<li>Georgia has almost no custom duty, with 90 % of goods being exempt from import tariffs, with no quantitative restrictions. The average time for customs clearance is currently about 15 minutes \u2013 one of the fastest and most efficient in the CIS.<\/li>\n<li>In Georgia almost all tax, financial reporting and customs clearances administration procedures are online\/web-based<br \/>\nIn Georgia it is easy to pay taxes by significantly revised tax laws, simplifying tax compliance processes and decreasing the number of tax fillings or payments<\/li>\n<li>In Georgia it is easy to enforce contracts by expanding court automation through introduction of electronic payments and processes, automatic assignment of cases to judges and by publishing judgements<\/blockquote><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1349\" height=\"675\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/CountryRatings2.png\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/CountryRatings2.png 1349w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/CountryRatings2-300x150.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/CountryRatings2-1024x512.png 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/CountryRatings2-768x384.png 768w\" sizes=\"auto, (max-width: 1349px) 100vw, 1349px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p>Source:\u00a0<a href=\"https:\/\/www.heritage.org\/index\/ranking\"><i>The Heritage Foundation (2019)<\/i><\/a><br \/>\nSource:\u00a0<a href=\"https:\/\/www.doingbusiness.org\/en\/data\/exploreeconomies\/georgia\"><i>World Bank (2020)<\/i><\/a><br \/>\nSource:\u00a0<a href=\"https:\/\/www.transparency.org\/gcb2013\/country?country=georgia\"><i>Transperency International (2013)<\/i><\/a><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-6\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_video_widget wpb_content_element vc_clearfix   vc_video-aspect-ratio-169 vc_video-el-width-100 vc_video-align-center\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t\n\t\t\t<div class=\"wpb_video_wrapper\"><iframe loading=\"lazy\" title=\"Georgia\ud83c\uddec\ud83c\uddea - #GoodForBusiness!\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/W3bY9bfyRNI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container text-left vc_col-sm-6\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"774\" height=\"431\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/DCFTA.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"Incorporation Services in Georgia\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/DCFTA.jpg 774w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/DCFTA-300x167.jpg 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/DCFTA-768x428.jpg 768w\" sizes=\"auto, (max-width: 774px) 100vw, 774px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Incorporation<\/h2>\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"474\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/NAPRGEO.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"LEPL National Agency of Public Registry in Georgia\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/NAPRGEO.jpg 1500w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/NAPRGEO-300x95.jpg 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/NAPRGEO-1024x324.jpg 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/NAPRGEO-768x243.jpg 768w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">According to the &#8220;law of Georgia on Entrepreneurs&#8221; the following organizational and legal forms of the enterprises can be formed in Georgia:<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<div class=\"vc_tta-container\" data-vc-action=\"collapse\"><div class=\"vc_general vc_tta vc_tta-accordion vc_tta-color-grey vc_tta-style-modern vc_tta-shape-rounded vc_tta-o-shape-group vc_tta-gap-2 vc_tta-controls-align-left vc_tta-o-no-fill\"><div class=\"vc_tta-panels-container\"><div class=\"vc_tta-panels\"><div class=\"vc_tta-panel vc_active\" id=\"1586369531201-66442870-f17e\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369531201-66442870-f17e\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">1. Limited Liability Company (LLC)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">A company, whose liability to creditors is limited to its assets. The capital of a limited liability company may be fixed in any amount and is divided into shares. A share shall be transferable. There is no restriction on capital amount when founding a LLC. Majority of the companies in Georgia are registered as LLCs.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369531201-ab0135dc-19e1\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369531201-ab0135dc-19e1\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">2. Individual Enterprise (IE)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">An individual engaged in the economic activities. IE shall fulfil his\/her rights and obligations as an individual and therefore is subject to personal liability.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369956880-1c1d3efb-64a1\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369956880-1c1d3efb-64a1\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">3. Joint Stock Company (JSC)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">A company whose capital is divided into shares of a certain types and quantity as determined by the charter of the company.There is no restriction on capital amount when founding a JSC. The company\u2019s liability to its creditors is limited to all of its assets and the shareholders are not liable for the company\u2019s obligations. A JSC may issue ordinary and preferred shares. JSCs in which number of shareholders exceed 50, shall maintain the share register through an independent registrar.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369966229-b78d3f3b-0073\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369966229-b78d3f3b-0073\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">4. Limited Partnership (LP)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">A company in which several persons carry out entrepreneurial activity under single common entity name. The liability of several partners to creditors of the partnership is limited to payment of a fixed guarantee amount (limited partners) while other partners (general partners) are jointly and severally liable. The partners of an LP can be both legal entities and individuals. Partners with limited liability are not allowed to participate in the management of the LP.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369968564-a662cba7-cde8\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369968564-a662cba7-cde8\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">5. General Partnership (GP)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">A company in which several persons (partners) conduct entrepreneurial activity jointly, under single common entity name, and are jointly and severally liable with all their assets to the creditors as joint debtors.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369970979-4a6cbe2d-8fdf\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369970979-4a6cbe2d-8fdf\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">6. Branch Office (BO)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px; color: #808080;\">A company may establish its sub-unit in Georgia that is not a separate legal entity. The BO of the Georgian company is not subject to registration at NAPR.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><div class=\"vc_tta-panel\" id=\"1586369972579-a4efc397-a204\" data-vc-content=\".vc_tta-panel-body\"><div class=\"vc_tta-panel-heading\"><h4 class=\"vc_tta-panel-title vc_tta-controls-icon-position-right\"><a href=\"#1586369972579-a4efc397-a204\" data-vc-accordion data-vc-container=\".vc_tta-container\"><span class=\"vc_tta-title-text\">7. Cooperative (CO)<\/span><i class=\"vc_tta-controls-icon vc_tta-controls-icon-chevron\"><\/i><\/a><\/h4><\/div><div class=\"vc_tta-panel-body\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">A company which is based on the labor activity of its members or established for developing the business and increasing the income of the members. The main objective of a cooperative is not to gain the profit but to satisfy the members\u2019 interests. The liability of a cooperative to creditors is limited to its own assets.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">There are no restrictions on foreign ownership or corporate governance of legal entities in Georgia with few exceptions. A Company shall have a charter capital, but the Georgian legislation does not contain any specific requirements with regards to the amount of charter capital.Also Georgian legislation does not contain any limitations with regard to the minimum\/maximum number of directors\/founders of a company. Therefore, it is upon the discretion of founding partners to determine the charter capital amount. The National Agency of Public Registry (NAPR) provides the registration of all types of legal entities. The registration completed on the same day of submission of required documents costs 200 GEL, otherwise ordinary registration takes 1 business day and the relevant fee is 100 GEL. The list of documents required to register a company depends on the organizational-legal form of the company and its founders.<\/span><\/p>\n<h5><span style=\"font-size: 16px;\"><span style=\"text-decoration: underline;\"><u style=\"font-size: 16px;\">Following documents are required to be submitted for <\/u><u style=\"font-size: 16px;\">ordinary Limited Liability Company (LLC) registration:<\/u><\/span><\/span><\/h5>\n\n\t\t<\/div>\n\t<\/div>\n<ul class=\"krth-list-icon  krth-list-69e13dad30130\"><li><i class=\"fa fa-check-square\"><\/i><h5>Application for registration<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Charter of the company<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Partner Resolution on incorporation of the company\/branch, including appointing the director<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Passport copies of the company\u2019s director and the founders (in case founder is an individual)<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Director\u2019s consent to be appointed as the director of the company<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Document confirming the consent of the owner on using its property as the company\u2019s legal address<\/h5><\/li><li><i class=\"fa fa-check-square\"><\/i><h5>Document confirming founder\u2019s registration in a foreign country and the authority of its representative individuals<\/h5><p>- If the founder is a foreign company.<\/p><\/li><\/ul>\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">All the documents issued outside Georgia shall be notarized and apostatized or legalized, then translated in Georgian and notarized.<\/span><br \/>\n<span style=\"font-size: 16px;\">In order to register as an IE, an interested person shall submit an ID card and application for registration.<\/span><\/p>\n<blockquote class=\"blockquote-two  krth-blockquote-69e13dad302ab\">\n<ul>\n<li>No restrictions on foreign ownership or corporate governance of legal entities in Georgia.<\/li>\n<li>Not any specific requirements with regards to the amount of initial capital.<\/li>\n<li>Not any limitations on the number of directors\/founders of a company.<\/li>\n<li>Company formation is possible without being in the country .<\/li>\n<li>Company can be fully managed remotely.<\/li>\n<li>Registration can be completed on the same day of submission.<\/blockquote><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Banking &amp; Financial System<\/h2>\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1538\" height=\"476\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2.jpg 1538w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2-300x93.jpg 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2-1024x317.jpg 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2-768x238.jpg 768w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BG2-1536x475.jpg 1536w\" sizes=\"auto, (max-width: 1538px) 100vw, 1538px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">The Georgian Lari is the currency of Georgia and sole legal tender for payments on the territory of Georgia, except for the operations related to export-import and free industrial zone.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">The central bank is the National Bank of Georgia (NBG). It sets monetary policy, issues licenses, and supervises the activities of banking institutions and currency exchange offices. Commercial banks require a license from the NBG and the minimum statutory capital required to register a bank is 12 million Georgial Lari. Banks are required to be organised as Joint Stock Companies and to report using International Financial Reporting Standards (IFRS).<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><span style=\"vertical-align: inherit;\">While there are dozens of banks in Georgia three biggest banks are <\/span><span style=\"color: #003366;\"><span style=\"vertical-align: inherit;\"><span style=\"color: #ff6600;\"><a style=\"color: #ff6600;\" href=\"https:\/\/bankofgeorgia.ge\/en\/retail\/main\">Bank of Georgia<\/a><\/span>,<\/span><\/span> <span style=\"color: #003366;\"><span style=\"vertical-align: inherit;\"><a href=\"https:\/\/www.tbcbank.ge\/web\/en\/web\/guest\/personal-banking\">TBC Bank<\/a><\/span><\/span><span style=\"vertical-align: inherit;\"> and <\/span><span style=\"color: #ff0000;\"><span style=\"vertical-align: inherit;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.libertybank.ge\/en\/\">Liberty Bank<\/a><\/span><\/span><span style=\"vertical-align: inherit;\">\u00a0which have correspondent banking relationships with the United States through Citibank.They are included in the London Stock Exchange\u2019s top 250 largest companies list and their shares are traded on the London Stock Exchange.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><span style=\"vertical-align: inherit;\">Opening a bank account in Georgia for foreigners is a remarkably simple process compared to most countries in the world<\/span><span style=\"vertical-align: inherit;\"> and takes about 30 minutes. Bank accounts for newly registered entities can be opened as soon as the entity registration is completed and a unique identification number is given. All you need to do is visit a bank, show your international passport, fill out a forms and typically your account is open for the next business day. While English is fairly commonly spoken in the country Foreign citizens need to bring a translator with them. You can also make an appointment at the bank of your choice and ask for an English-speaking banker. It is important that opening bank account can be done from distance, remotely by Power of Attorney (POA). <\/span><\/span><b><u><\/u><\/b><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Unlike most international accounts for foreigners, Georgian banks do not require a minimum deposit in order to open the account. Fees for operating the bank account are very low\u00a0 and the exact amount depends on which particular bank you decide to use and the level of service offered by the account. The only payment that you need to make at the time that you open the account is a small payment (about 70 Gel) in order to obtain a debit card, which can also be used to withdraw funds from ATMs both inside Georgia and around the world. The bank offers a choice of either a Visa or Mastercard. All the three banks offer mobile apps for mobile banking as well as internet banking \u2013 so you can track your funds from anywhere in the world.<\/span><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Bank accounts opened are three currencies in one \u2013 one each for GEL, USD and EUR, which means that if you wire funds into your account in either USD or EUR, then the funds will remain in that currency until you want to convert them. All bank accounts in Georgia use the international IBAN format, which makes it simple to transfer funds between the accounts without difficulties of working out the SWIFT\/BIC Codes. Funds sent to the account arrive quickly, no later than the next working day.<\/span><\/span><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted vc_row-o-equal-height vc_row-flex\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-2\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h2 style=\"text-align: left;\"><span style=\"font-size: 32px;\"><span style=\"color: #ffffff;\"><span style=\"vertical-align: inherit;\"><span style=\"color: #003366;\">Biggest<\/span> <\/span><\/span><span style=\"color: #fa9928;\"><span style=\"vertical-align: inherit;\">Banks<\/span><\/span><\/span><br \/>\n<span style=\"font-size: 32px; color: #003366;\"><span style=\"vertical-align: inherit;\">In <\/span><\/span><span style=\"font-size: 32px; color: #003366;\"><span style=\"vertical-align: inherit;\">Georgia<\/span><\/span><\/h2>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container text-left vc_col-sm-8\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"820\" height=\"330\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BiggestBanksinGeorgia-1.png\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BiggestBanksinGeorgia-1.png 820w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BiggestBanksinGeorgia-1-300x121.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BiggestBanksinGeorgia-1-768x309.png 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container text-left vc_col-sm-2\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" class=\"vc_single_image-img\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/TBCMobileBanking.png\" width=\"185\" height=\"390\" alt=\"Opening Bank Account in Georgia\" title=\"TBCMobileBanking\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted vc_row-o-equal-height vc_row-flex\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">The Georgian Stock Exchange (GSE) is the only organized securities market in Georgia, which was established with the financial support of USAID and Barents Group in 2000. The GSE&#8217;s automated trading system can accommodate thousands of securities that can be traded by brokers from workstations on the GSE floor or remotely from their offices: <em><a href=\"http:\/\/www.gse.ge\/en\"><b><span style=\"color: #002355;\"><u>www.gse.ge<\/u><\/span><\/b><\/a><\/em><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Business License, Permits &amp; Statuses<\/h2>\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1136\" height=\"330\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BusinessLicense.png\" class=\"vc_single_image-img attachment-full\" alt=\"Tax Certificates in Georgia\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BusinessLicense.png 1136w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BusinessLicense-300x87.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BusinessLicense-1024x297.png 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/BusinessLicense-768x223.png 768w\" sizes=\"auto, (max-width: 1136px) 100vw, 1136px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">In Georgia, every company is entitled to choose a field of activity at its own discretion and run a business without limitation, unless such an activity is directly prohibited by the <span style=\"text-decoration: underline;\"><a href=\"https:\/\/matsne.gov.ge\/en\/document\/view\/26824?publication=62\">&#8220;law or a permit or license&#8221;<\/a> <\/span>is required to perform the activity. Special permits and licenses for doing business in Georgia are required only for companies whose activities will be related to medicine, construction, communications, gambling, energy, security and etc.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">According to the Georgian legislation, there are two types of applicable licenses: the license to exercise an activity and the license to use.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>The License to Exercise<\/strong> an Activity is a license which grants a person the right to exercise a certain activity specified by the law (e.g. to set up a private security service). To obtain a license for an<br \/>\nactivity, one has to meet particular requirements. This type of license may be used only by the person (a natural person or legal entity) who has been granted the license. Therefore, a transfer of a license for an activity to another person is not allowed.<\/span><\/p>\n<p><span style=\"font-size: 16px;\"><strong>The License to Use<\/strong> applies to the use of national resources specified by the law. Such a license grants its holder the right to use certain resources (e.g. natural resources). Licenses of this type can only be awarded in an open outcry tender, except the cases stipulated by the law and the holder of the license may transfer it to others.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">In addition to special licenses and permits, there are various types of business activities in Georgia that are provided with special status such as Virtual Zone Person, Free Industrial Zone Enterprise, Special Trading Company, Tourist Enterprise, Small Business Entrepreneur, International Company etc. and benefit from special tax or other favorable regimes. In order to get these benefits, it is required to apply and obtain the appropriate status and certificates from the relevant agencies.\u00a0<\/span><\/p>\n<p><span style=\"font-size: 16px;\">If your main business activity is to provide business activity in IT and \/ or software &amp; app development service to the clients outside of Georgia, then you can apply for the Virtual Zone Entity status to the Ministry of Finance of Georgia. Virtual Zone Entities are exempt from VAT and corporate income tax and pay only 5% of personal income tax in case of dividend distribution. Read more about Virtual Zone Person\u2019s status in our blog\u00a0<a href=\"https:\/\/inc.ge\/ru\/2020\/05\/12\/virtual-zone-person\/\">here<\/a>.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1076\" height=\"473\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/VIRTUALZONE.jpg\" class=\"vc_single_image-img attachment-full\" alt=\"\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/VIRTUALZONE.jpg 1076w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/VIRTUALZONE-300x132.jpg 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/VIRTUALZONE-1024x450.jpg 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/VIRTUALZONE-768x338.jpg 768w\" sizes=\"auto, (max-width: 1076px) 100vw, 1076px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">Free Industrial Zone (FIZ) is the type of a free zone envisaged by the &#8220;Tax Code of Georgia&#8221; where the business-friendly regulations, favorable tax, and customs regulations apply. FIZ is open for production &amp; processing of any goods or provision of services, except for: Using of buildings for residence, Production of Arms and munitions, trade of arms and munitions, Production of nuclear and radioactive substances, trade in nuclear and radioactive substances, Import, storage, production or\/and sale of Narcotic and psychotropic substances, Excise goods (except for the cases for personal use).<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Free Industrial Zone entities are exempt from all taxes except personal income tax (20%) which is paid a the employee. You need to apply for this status to the organizer of Free Industrial Zone and pay annual fee. There are five industrial zones operating in Georgia in the following cities: Poti (sea port), Kutaisi (third largest city) and Tbilisi (capital city): <a href=\"http:\/\/potifreezone.ge\/\">Poti Free Industrial Zone<\/a>; <a href=\"https:\/\/hualingfiz.ge\/about\/hualing-kutaisi-fiz\/\">Hualing Kutaisi Free Industrial Zone<\/a>; <a href=\"http:\/\/gih.ge\/\">Kutaisi Free Industrial Zone<\/a>; <a href=\"http:\/\/www.tfz.ge\/\">Tbilisi Free Zone;<\/a> Tbilisi Industrial Park Free Industrial Zone. Read more about Free Industrial Zone Enterprise status in our blog\u00a0<a href=\"https:\/\/inc.ge\/ru\/2020\/02\/10\/free-industrial-zone-enterprise\/\">here<\/a>.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div  class=\"wpb_single_image wpb_content_element vc_align_left\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper   vc_box_border_grey\"><img loading=\"lazy\" decoding=\"async\" width=\"1076\" height=\"473\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/FIZEnterprise.png\" class=\"vc_single_image-img attachment-full\" alt=\"Free Industrial Zones in Georgia\" srcset=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/FIZEnterprise.png 1076w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/FIZEnterprise-300x132.png 300w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/FIZEnterprise-1024x450.png 1024w, https:\/\/inc.ge\/wp-content\/uploads\/2020\/06\/FIZEnterprise-768x338.png 768w\" sizes=\"auto, (max-width: 1076px) 100vw, 1076px\" \/><\/div>\n\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span class=\"VIiyi\" lang=\"en\" style=\"font-size: 16px;\"><span class=\"JLqJ4b ChMk0b\" data-language-for-alternatives=\"en\" data-language-to-translate-into=\"ka\" data-phrase-index=\"0\">See our blog posts about special taxation regimes in Georgia <a href=\"https:\/\/inc.ge\/ru\/category\/special-tax-status-in-georgia\/\">here<\/a>:<\/span><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n    <!-- Blog Start -->\n    <div class=\"krth-blog-one krth-blog-col-4  krth-post-69e13dad3429d\">\n\n      \n      <div id=\"post-4426\" class=\"krth-blog-post post-4426 post type-post status-publish format-standard has-post-thumbnail hentry category-international-company category-business-news-in-georgia category-small-business-entrepreneur category-virtual-zone-person tag-international-company-status-in-georgia tag-it-company tag-it-company-in-georgia tag-it-residency-permit tag-it-residency-permit-in-georgia tag-residency-permit tag-residency-permit-in-georgia tag-small-business-status tag-small-business-status-in-georgia tag-trc tag-trc-in-georgia tag-virtual-zone-company-status tag-virtual-zone-company-status-in-georgia\">\n\n                <div class=\"featured-image rounded-three\">\n          <img decoding=\"async\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2025\/07\/IT-Residency-Permit-in-Georgia.jpg\" alt=\"Unlock Your Future in Georgia: New IT Residency Permit &#038; Tax Advantages\">\n        <\/div>\n        \n        <!-- Content -->\n        <div class=\"bp-content\">\n\n          <!-- Metas -->\n          <div class=\"bp-top-meta\">\n                        <div class=\"bp-date\">\n              <span>29 \u0438\u044e\u043b\u044f, 2025<\/span>\n            <\/div>\n                      <\/div>\n          <!-- Metas -->\n\n          <a href=\"https:\/\/inc.ge\/ru\/2025\/07\/29\/it-residency-permit\/\" class=\"bp-heading\">Unlock Your Future in Georgia: New IT Residency Permit &#038; Tax Advantages<\/a>\n                    <p>Introdcution We're excited to share some groundbreaking news from the Georgian government, aimed at[...]<\/p>\n          <a href=\"https:\/\/inc.ge\/ru\/2025\/07\/29\/it-residency-permit\/\" class=\"bp-read-more\">\n            Read More          <\/a>\n                  <\/div>\n        <!-- Content -->\n\n        <\/div><!-- #post-## -->\n\n      \n      <div id=\"post-4214\" class=\"krth-blog-post post-4214 post type-post status-publish format-standard has-post-thumbnail hentry category-investing-in-georgia category-special-tax-certificates-in-georgia category-virtual-zone-person tag-incorporation-in-georgia tag-information-technology tag-virtual-zone-entity tag-virtual-zone-person\">\n\n                <div class=\"featured-image rounded-three\">\n          <img decoding=\"async\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2021\/02\/Virtual-Zone-Person.jpg\" alt=\"New rules for taxation of multinational companies in Georgia\">\n        <\/div>\n        \n        <!-- Content -->\n        <div class=\"bp-content\">\n\n          <!-- Metas -->\n          <div class=\"bp-top-meta\">\n                        <div class=\"bp-date\">\n              <span>24 \u044f\u043d\u0432\u0430\u0440\u044f, 2023<\/span>\n            <\/div>\n                      <\/div>\n          <!-- Metas -->\n\n          <a href=\"https:\/\/inc.ge\/ru\/2023\/01\/24\/taxation-of-multinational-companies-in-georgia\/\" class=\"bp-heading\">New rules for taxation of multinational companies in Georgia<\/a>\n                    <p>From October 1, 2021 The Tax Code of Georgia, established that a taxable person,[...]<\/p>\n          <a href=\"https:\/\/inc.ge\/ru\/2023\/01\/24\/taxation-of-multinational-companies-in-georgia\/\" class=\"bp-read-more\">\n            Read More          <\/a>\n                  <\/div>\n        <!-- Content -->\n\n        <\/div><!-- #post-## -->\n\n      \n      <div id=\"post-3797\" class=\"krth-blog-post post-3797 post type-post status-publish format-standard has-post-thumbnail hentry category-investing-in-georgia category-small-business-entrepreneur category-special-tax-certificates-in-georgia tag-incorporation-in-georgia tag-small-business-status-in-georgia tag-small-business-tax-certificate-in-georgia tag-small-business-tax-status-in-georgia tag-special-tax-regimes-in-georgia\">\n\n                <div class=\"featured-image rounded-three\">\n          <img decoding=\"async\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2021\/02\/small-business-status-in-Georgia-1.jpg\" alt=\"Small Business Entrepreneur\">\n        <\/div>\n        \n        <!-- Content -->\n        <div class=\"bp-content\">\n\n          <!-- Metas -->\n          <div class=\"bp-top-meta\">\n                        <div class=\"bp-date\">\n              <span>11 \u0444\u0435\u0432\u0440\u0430\u043b\u044f, 2021<\/span>\n            <\/div>\n                      <\/div>\n          <!-- Metas -->\n\n          <a href=\"https:\/\/inc.ge\/ru\/2021\/02\/11\/small-business-entrepreneur\/\" class=\"bp-heading\">Small Business Entrepreneur<\/a>\n                    <p>1. Introduction In order to attract foreign investment and boost economy chapter XII of[...]<\/p>\n          <a href=\"https:\/\/inc.ge\/ru\/2021\/02\/11\/small-business-entrepreneur\/\" class=\"bp-read-more\">\n            Read More          <\/a>\n                  <\/div>\n        <!-- Content -->\n\n        <\/div><!-- #post-## -->\n\n      \n      <div id=\"post-3769\" class=\"krth-blog-post post-3769 post type-post status-publish format-standard has-post-thumbnail hentry category-investing-in-georgia category-special-trading-company category-special-tax-certificates-in-georgia tag-incorporation-in-georgia tag-special-trading-company tag-special-trading-company-certificate-georgia tag-special-trading-company-georgia tag-special-trading-company-in-georgia tag-special-trading-company-status tag-special-trading-company-status-georgia tag-special-trading-company-status-in-georgia tag-special-trudging-company-certificate-in-georgia\">\n\n                <div class=\"featured-image rounded-three\">\n          <img decoding=\"async\" src=\"https:\/\/inc.ge\/wp-content\/uploads\/2021\/02\/Special-trading-Company.jpg\" alt=\"Special Trading Company\">\n        <\/div>\n        \n        <!-- Content -->\n        <div class=\"bp-content\">\n\n          <!-- Metas -->\n          <div class=\"bp-top-meta\">\n                        <div class=\"bp-date\">\n              <span>9 \u0444\u0435\u0432\u0440\u0430\u043b\u044f, 2021<\/span>\n            <\/div>\n                      <\/div>\n          <!-- Metas -->\n\n          <a href=\"https:\/\/inc.ge\/ru\/2021\/02\/09\/special-trading-company\/\" class=\"bp-heading\">Special Trading Company<\/a>\n                    <p>1. Introduction In order to further improve the business environment in the country, to[...]<\/p>\n          <a href=\"https:\/\/inc.ge\/ru\/2021\/02\/09\/special-trading-company\/\" class=\"bp-read-more\">\n            Read More          <\/a>\n                  <\/div>\n        <!-- Content -->\n\n        <\/div><!-- #post-## -->\n\n      \n    <\/div>\n    <!-- Blog End -->\n\n    <\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Key Economic Indicators<\/h2>\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-family: 'courier new', courier; font-size: 28px;\">\n<table id=\"tablepress-1\" class=\"tablepress tablepress-id-1\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">#<\/th><th class=\"column-2\">Indicator Name<\/th><th class=\"column-3\">2014<\/th><th class=\"column-4\">2015<\/th><th class=\"column-5\">2016<\/th><th class=\"column-6\">2017<\/th><th class=\"column-7\">2018<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Population, total (million)<\/td><td class=\"column-3\">3.72<\/td><td class=\"column-4\">3.73<\/td><td class=\"column-5\">3.73<\/td><td class=\"column-6\">3.73<\/td><td class=\"column-7\">3.73<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Time required to start a business (days)<\/td><td class=\"column-3\">2<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td><td class=\"column-6\">2<\/td><td class=\"column-7\">2<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Time required to register property (days)<\/td><td class=\"column-3\">1<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">1<\/td><td class=\"column-6\">1<\/td><td class=\"column-7\">1<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Strength of legal rights index (0=weak to 12=strong)<\/td><td class=\"column-3\">9<\/td><td class=\"column-4\">9<\/td><td class=\"column-5\">9<\/td><td class=\"column-6\">9<\/td><td class=\"column-7\">9<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Time to resolve insolvency (years)<\/td><td class=\"column-3\">2<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td><td class=\"column-6\">2<\/td><td class=\"column-7\">2<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\">GDP (US$ billion-Current)<\/td><td class=\"column-3\">16.5<\/td><td class=\"column-4\">14<\/td><td class=\"column-5\">14.4<\/td><td class=\"column-6\">15.1<\/td><td class=\"column-7\">16.2<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\">GDP growth (annual %)<\/td><td class=\"column-3\">4.6<\/td><td class=\"column-4\">2.9<\/td><td class=\"column-5\">2.8<\/td><td class=\"column-6\">4.8<\/td><td class=\"column-7\">4.7<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\">GDP per capital (US$ )<\/td><td class=\"column-3\">4.4<\/td><td class=\"column-4\">3.8<\/td><td class=\"column-5\">3.9<\/td><td class=\"column-6\">4<\/td><td class=\"column-7\">4.3<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\">Inflation (average)<\/td><td class=\"column-3\">3.1<\/td><td class=\"column-4\">4<\/td><td class=\"column-5\">2.1<\/td><td class=\"column-6\">6<\/td><td class=\"column-7\">2.6<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">10<\/td><td class=\"column-2\">US$\/GEL exchange rate (average)<\/td><td class=\"column-3\">1.77<\/td><td class=\"column-4\">2.27<\/td><td class=\"column-5\">2.37<\/td><td class=\"column-6\">2.51<\/td><td class=\"column-7\">2.68<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">11<\/td><td class=\"column-2\">EUR\/GEL exchange rate (average)<\/td><td class=\"column-3\">2.35<\/td><td class=\"column-4\">2.52<\/td><td class=\"column-5\">2.62<\/td><td class=\"column-6\">2.83<\/td><td class=\"column-7\">3.01<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">12<\/td><td class=\"column-2\">Foreign direct investments (US$ billion)<\/td><td class=\"column-3\">1.8<\/td><td class=\"column-4\">1.7<\/td><td class=\"column-5\">1.7<\/td><td class=\"column-6\">1.9<\/td><td class=\"column-7\">1.3<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">13<\/td><td class=\"column-2\">Total Reserves (US$ billion)<\/td><td class=\"column-3\">2.7<\/td><td class=\"column-4\">2.5<\/td><td class=\"column-5\">2.8<\/td><td class=\"column-6\">3<\/td><td class=\"column-7\">3.3<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">14<\/td><td class=\"column-2\">Real interest rate (%)<\/td><td class=\"column-3\">7.8<\/td><td class=\"column-4\">6.2<\/td><td class=\"column-5\">8.1<\/td><td class=\"column-6\">5.1<\/td><td class=\"column-7\">7.2<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">15<\/td><td class=\"column-2\">Lending interest rate (%)<\/td><td class=\"column-3\">11.9<\/td><td class=\"column-4\">12.5<\/td><td class=\"column-5\">12.6<\/td><td class=\"column-6\">11.5<\/td><td class=\"column-7\">11.1<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">16<\/td><td class=\"column-2\">Deposit interest rate (%)<\/td><td class=\"column-3\">8.4<\/td><td class=\"column-4\">8.9<\/td><td class=\"column-5\">9.9<\/td><td class=\"column-6\">9.7<\/td><td class=\"column-7\">8.8<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">17<\/td><td class=\"column-2\">Unemployment Rate<\/td><td class=\"column-3\">17.4<\/td><td class=\"column-4\">16.5<\/td><td class=\"column-5\">16.6<\/td><td class=\"column-6\">13.9<\/td><td class=\"column-7\">12.7<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">18<\/td><td class=\"column-2\">Total Export (US$ billion)<\/td><td class=\"column-3\">7.1<\/td><td class=\"column-4\">6.3<\/td><td class=\"column-5\">6.3<\/td><td class=\"column-6\">7.6<\/td><td class=\"column-7\">8.9<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">19<\/td><td class=\"column-2\">Total Import (US$ billion)<\/td><td class=\"column-3\">10<\/td><td class=\"column-4\">8.7<\/td><td class=\"column-5\">8.5<\/td><td class=\"column-6\">9.4<\/td><td class=\"column-7\">10.8<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">20<\/td><td class=\"column-2\">Number of tourists (million)<\/td><td class=\"column-3\">5<\/td><td class=\"column-4\">5.3<\/td><td class=\"column-5\">5.4<\/td><td class=\"column-6\">6.5<\/td><td class=\"column-7\">4.8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-1 from cache --><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 14px; font-family: Montserrat, sans-serif;\">Source:\u00a0<a href=\"https:\/\/www.geostat.ge\/en\"><i>National Statistics Office of Georgia<\/i><\/a><\/span><br \/>\n<span style=\"font-size: 14px; font-family: Montserrat, sans-serif;\">Source:\u00a0<a href=\"https:\/\/www.nbg.gov.ge\/index.php?m=2\"><i>National Bank of Georgia<\/i><\/a><\/span><br \/>\n<span style=\"font-size: 14px; font-family: Montserrat, sans-serif;\">Source:\u00a0<a href=\"https:\/\/data.worldbank.org\/country\/georgia\"><i>The World Development Indicators &#8211; The World Bank<\/i><\/a><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><h2 style=\"font-size: 30px;color: #000000;text-align: left;font-family:Roboto Slab;font-weight:700;font-style:normal\" class=\"vc_custom_heading\" >Taxation<\/h2>\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<p><span style=\"font-size: 16px;\">There are only six taxes in Georgia, of which five (personal income tax, corporate income tax, Value added tax, excise tax and import tax) are nationwide, and one (property tax) is a local tax. There are no inheritance, wealth, property transfer, social, branch remittance or other taxes imposed in Georgia.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">From 1 January 2017 a new model of Corporate Income Tax was enacted in Georgia, which means that for Georgian entities and foreign entities doing business in Georgia by a permanent establishment the retained profit will no longer be taxable until they are distributed.The main purpose of the new model is to encourage domestic and foreign investments by taxing the businesses when they will extract the profits. Commercial banks, credit unions, insurance companies, microfinance organisations, and pawn shops will be switched to the new tax regime after 1 January 2023.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">According to the Tax Code of Georgia, \u201cA person\/entity, which carries out an economic activity and the total amount of VAT taxable transactions carried out in any continuous period up to 12 calendar months exceeds GEL 100 000\u201d, shall apply for a VAT registration to Revenue Service under Ministry of Finance of Georgia. A person\/entity can also perform voluntary registration.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t\n<table id=\"tablepress-12\" class=\"tablepress tablepress-id-12\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">#<\/th><th class=\"column-2\">BASIC TAXES<\/th><th class=\"column-3\">RATE<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Personal Income Tax<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Corporate Income Tax (Profit distribution)<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Value Added Tax (VAT)<\/td><td class=\"column-3\">18%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Excise tax<\/td><td class=\"column-3\">varies<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Import Tax<\/td><td class=\"column-3\">0%, 5% or 12%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\">Property Tax - companies<\/td><td class=\"column-3\">Up to 1 %<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\">Property tax \u2014 leasing companies<\/td><td class=\"column-3\">Up to 0.6%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\">Property tax \u2014 individuals<\/td><td class=\"column-3\">Up to 1%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\">Property tax \u2014 land<\/td><td class=\"column-3\">varies<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">#<\/td><td class=\"column-2\">TAX RATES FOR A VIRTUAL ZONE COMPANY<\/td><td class=\"column-3\">RATE<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Corporate Income Tax (allowable activities: IT services)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Value Added Tax (VAT)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">#<\/td><td class=\"column-2\">TAX RATES FOR FREE INDUSTRIAL ZONE COMPANY<\/td><td class=\"column-3\">RATE<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Corporate Income Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Value Added Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Withholding Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Property Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Import Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">#<\/td><td class=\"column-2\">TAX RATES FOR AN INTERNATIONAL FINANCIAL COMPANY<\/td><td class=\"column-3\">RATE<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Gain from sale of securities (issued by non-resident persons)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Value Added Tax (financial operations or financial services)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">#<\/td><td class=\"column-2\">TAX RATES FOR A SPECIAL TRADING COMPANY<\/td><td class=\"column-3\">RATE<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Corporate Income Tax (on allowable activities other than supply of fixed assets used in economic activities for more than 2 years)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Value Added Tax (inside customs warehouse)<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Import Tax<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">#<\/td><td class=\"column-2\">OTHER TAXES<\/td><td class=\"column-3\">RATE<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">1<\/td><td class=\"column-2\">Dividends paid to individuals, organizations and non-resident entities<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">2<\/td><td class=\"column-2\">Dividends paid to resident companies<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">3<\/td><td class=\"column-2\">Dividends paid on free floating securities<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">4<\/td><td class=\"column-2\">Dividends paid by an international financial company<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">5<\/td><td class=\"column-2\">Dividends paid by a free industrial zone company<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">6<\/td><td class=\"column-2\">Dividends paid by an agricultural cooperative<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">7<\/td><td class=\"column-2\">Interest paid<\/td><td class=\"column-3\">5%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">8<\/td><td class=\"column-2\">Interest paid to residents of offshore countries<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">9<\/td><td class=\"column-2\">Interest paid to resident banks<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">10<\/td><td class=\"column-2\">Interest paid by licensed financial institutions<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">11<\/td><td class=\"column-2\">Interest paid on free floating securities<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">12<\/td><td class=\"column-2\">Interests paid by a free industrial zone company<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">13<\/td><td class=\"column-2\">Interest paid on debt securities issued by Georgian companies and listed on a recognized foreign stock exchange<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">14<\/td><td class=\"column-2\">Interest paid by resident companies to the Government<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">15<\/td><td class=\"column-2\">Royalties paid to resident individuals<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">16<\/td><td class=\"column-2\">Royalties paid to resident companies<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">17<\/td><td class=\"column-2\">Royalties paid to non-residents<\/td><td class=\"column-3\">10%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">18<\/td><td class=\"column-2\">Royalties paid to residents of offshore countries<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">19<\/td><td class=\"column-2\">Royalties paid to the Government<\/td><td class=\"column-3\">exempt<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">20<\/td><td class=\"column-2\">Management fees paid to non-residents<\/td><td class=\"column-3\">10%<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">21<\/td><td class=\"column-2\">Management fees paid to residents of offshore countries<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">22<\/td><td class=\"column-2\">Payment of income from international transportation and international communication to non-residents<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">23<\/td><td class=\"column-2\">Payments of other Georgian source income to non-residents<\/td><td class=\"column-3\">10%<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">24<\/td><td class=\"column-2\">Payments of other Georgian source income to residents of offshore countries<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">24<\/td><td class=\"column-2\">Costs incurred not related to economic activity, Non-documented expense, Free of charge distributions, Over limit representative expenses<\/td><td class=\"column-3\">15%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-12 from cache -->\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid krth-dhav-dotted\"><div class=\"wpb_column vc_column_container text-left vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><div data-vc-full-width=\"true\" data-vc-full-width-init=\"false\" data-vc-parallax=\"1.5\" data-vc-parallax-image=\"https:\/\/inc.ge\/wp-content\/uploads\/2020\/04\/IncorporateGeorgia.jpg\" class=\"vc_row wpb_row vc_row-fluid krth-have-dotted 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Introduction In order to further improve the business environment in the country, to[...]","protected":false},"author":1,"featured_media":3124,"parent":0,"menu_order":19,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-14","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Doing Business in Georgia - Everything You Need To Know!<\/title>\n<meta name=\"description\" content=\"Starting Business in Georgia - Tax &amp; Accounting - Opening Bank Account - Virtual Zone Person - Special Trading Company - Free Industrial Zone.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/inc.ge\/ru\/business-in-georgia\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Doing Business in Georgia - 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