{"id":432,"date":"2016-08-15T18:18:18","date_gmt":"2016-08-15T18:18:18","guid":{"rendered":"http:\/\/kroth:8888\/?page_id=432"},"modified":"2023-01-24T00:47:43","modified_gmt":"2023-01-23T20:47:43","slug":"faq","status":"publish","type":"page","link":"https:\/\/inc.ge\/ru\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"
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Frequently Asked Question<\/h3>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div>

Which countries do you operate in?<\/span><\/i><\/a><\/h4><\/div>
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Based in Tbilisi, we serve individuals and businesses throughout the Republic of Georgia.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Can a foreign citizen establish a company in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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Yes, there are only a small number of countries whose citizens have restrictions on establishing a company in Georgia.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Is it necessary for a company to have business office in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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To incorporate business in Georgia, it is necessary to have a registered legal address.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

What initial shareholder's capital is required for the company to register in Georgia<\/span><\/i><\/a><\/h4><\/div>
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There are not any specific requirements with regards to the amount of initial shareholder’s capital and you can incorporate your business with zero<\/strong> initial capital.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Are there any limitations on the number of founders of a company?<\/span><\/i><\/a><\/h4><\/div>
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Under Georgia law, a company must have at least one shareholder\/founder (physical person or legal entity) . Non-resident founders\/shareholders accepted.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Are there any limitations on the number of directors of a company?<\/span><\/i><\/a><\/h4><\/div>
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According to Georgian legislation, a company must have at least one director. Non-resident directors accepted.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Do I need to be a Georgian individual to develop a business?<\/span><\/i><\/a><\/h4><\/div>
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No you don’t, a Georgian company must have a Georgian registered office address which we can provide.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

When is the tax return due?<\/span><\/i><\/a><\/h4><\/div>
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Most businesses are generally have to send monthly (Corporate, Income, VAT, Reverse VAT, Excise) tax returns.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

What are the audit and accounting required for a company in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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According to Georgian legislation, accounting and tax preparation are mandatory for all companies. As for the audit, companies in Georgia are divided into 4 categories according to their turnover, number of employees and assets, and therefore the audit requirements are different according to different categories. For large companies (Category: 1-2) it is mostly mandatory to conduct an audit and submit financial statements. As for small enterprises (Category: 3-4) they are not required to be audited.<\/span><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

What taxes are applicable to company in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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Company\u00a0<\/span>may have applied<\/span> different taxes depending on its operations. For general taxes in Georgia, you can see our article here:\u00a0https:\/\/inc.ge\/business-in-georgia\/taxation-in-georgia\/<\/a>. <\/span>Double taxation avoidance agreements should also be considered.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Is it necessary for a Georgian company to have an account in a Georgian bank?<\/span><\/i><\/a><\/h4><\/div>
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Having Georgian bank account is not\u00a0<\/b>obligatory for Georgian company and it can operate without or with foreign bank accounts.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Will I have a personal banker (in English) that would help me with information about my account and make transactions as per my request using whatsapp and email?<\/span><\/i><\/a><\/h4><\/div>
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No,<\/span>\u00a0<\/span>Georgian banks do not offer this type of service to foreigners,\u00a0<\/span>who do not visit the country themselves and the bank.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>

Do I need to renew business registration?<\/span><\/i><\/a><\/h4><\/div>
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Once the company is registered it is alive until you apply for liquidation to the registration authority and it does not need any renewal.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Do I require a registered legal address?<\/span><\/i><\/a><\/h4><\/div>
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All limited businesses are lawfully needed to have a registered legal address. All legal mail will certainly be sent out right here and the address information will certainly be presented in a public document.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Is it necessary to be physically present in Georgia in order to register a company?<\/span><\/i><\/a><\/h4><\/div>
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Company formation is possible without being in the country by your notarized and certified Power Of Attorney.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

How does the incorporation process work?<\/span><\/i><\/a><\/h4><\/div>
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There are 6 simple steps we offer and you need to go through in order to incorporate your business in Georgia in accordance with Georgian legislation from abroad. 1. You fill our online application form, answer quick simple questions about your business plans in Georgia and upload required documents. Application filling process takes less than 10 minutes to complete. 2.Once submitted, our incorporation expert will review your application to ensure it meets all the requirements to be accepted by the agency, determine which entity type is the best to set up and contact you to discuss what is needed to start your business in Georgia. 3.The use of electronic signatures and power of attorney is unfortunately not widely introduced in our country. Therefore, you have to set up a apostatized Power Of Attorney (POA) according to the template sent by us with your local notary for company formation in Georgia and send to us by post. 4.After receiving your documents we translate and notarize all the papers, prepare and file all business formation documents and complete supporting articles of incorporation with the agency. 5.Based on your POA (Power Of Attorney), your local inc.ge attorney visits the appropriate agencies, go through all the necessary procedures and register your company. 6.Final registration documents and our service invoice are sent to you. You can have peace of mind and confidence knowing that the right business entity has been formed in the right way.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

What time does it take to fully incorporate business in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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The duration of the incorporation procedures depends on the type of company and\u00a0 required documents. Usually on average, it takes about 1 week to fully incorporate business in Georgia.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Do you need special permits and licenses to start your business in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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In Georgia, every company can start a business without limitation, unless its activity is directly prohibited by the \u201claw or a permit or license\u201d<\/a> 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

If your business does not require special permits or licenses, you can start a business as soon as the company is registered.<\/strong><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

If the company registration is rejected by the registration agency?<\/span><\/i><\/a><\/h4><\/div>
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Sometimes this might occur and also it is normally when your request is against the Law of Georgian on Entrepreneurs or an inappropriate POA made by your local notary. Do not fret, these problems could be quickly fixed and you will certainly be offered the chance to re-submit your incorporation documents with the appropriate specifics. Our customer assistance group is additionally accessible to lead you via this procedure as well as offer help. If this happens through our fault then we guarantee a full refund.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Do I have to register my business for tax return?<\/span><\/i><\/a><\/h4><\/div>
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When your brand-new business is registered in LEPL National Agency Of Public Registry you need to signed up for Georgia Revenue Service online portal to make up and submit tax returns.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Do I register my business for VAT?<\/span><\/i><\/a><\/h4><\/div>
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A limited company will be needed to sign up for VAT if its economic activities are VAT taxed and the turnover for the previous twelve month has actually surpassed the present VAT limit of 100,000 GEL. Voluntary VAT enrollment is likewise recommended if you anticipate your turn over to go beyond the limit quantity in the present year or if your business is free from VAT with the option of VAT deduction.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

A Georgian company dedicated to digital marketing could have a virtual zone status?<\/span><\/i><\/a><\/h4><\/div>
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Unfortunately Virtual Zone Person’s status\u00a0cannot be granted\u00a0to\u00a0digital marketing activities.\u00a0Virtual Zone Person is a legal entity that carries out information technology activities and has been granted the appropriate status.\u00a0Information technologies (IT)\u00a0is defined by law and means \u2013 study, support, development, design, production and introduction of computer information systems,\u00a0as a result of which software products are obtained. Digital Marketing may contain components of information technology, but it is more of a marketing service for the tax authorities than IT.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

What are the fees for audit and accounting in Georgia?<\/span><\/i><\/a><\/h4><\/div>
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The fees depend on the size and turnover of the company. You can fill in the company details in our questionnaire here (https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSclzKhRw7Db2z3v5EYAm127h4iV7ZiDz4c5A_3MHREjFeNqqw\/viewform<\/a>) and we will tell you the tax preparation and accounting service fee.<\/span><\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div>

Does my foreign phone number would be valid to activate online banking?<\/span><\/i><\/a><\/h4><\/div>
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Online banking could not be activated on foreign phone numbers, and you will get DigiPass to receive transaction numbers. We take Georgian cell phone sim-card on the client’s name to indicate in banks and activate roaming services before we send it to the client. Transaction numbers can only be generated by only one application DGPass or mobile number and not by both of them.<\/span><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>

(+995) 599 121077 or \u00a0(+995) 595 010203 – Get Free Consultation!<\/span><\/p>\n<\/div>

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