There are many benefits to open company in Georgia. One of the main benefits is the country’s low tax rates. Georgia’s corporate income tax rate is only 20%, which is significantly lower than the rates in other developed countries. In addition, there is no withholding tax on dividends paid to foreign shareholders and no capital gains tax.
Another benefit of doing business in Georgia is its location. Georgia is strategically located at the crossroads of Europe and Asia, making it an ideal gateway for companies looking to do business in both regions. Additionally, Georgia has an excellent infrastructure and a well-educated workforce.
You should also consider other factors, such as the government’s commitment to making Georgia a preferred destination for foreign investors. The Georgian government actively promotes the country’s advantageous location, forward-looking economic policies, and beneficial tax system to attract investments. To this end, the government has created an efficient business environment in which local and foreign companies can thrive.
When you want to open a company in Georgia, here are some things to keep in mind:
- A business license is required to establish a company in Georgia. There are three types of business licenses: general, wholesale, and retail.
- An application for a business license must be made at the tax authority where the company’s activities will occur. Usually, you can obtain your business license within seven days after applying, as long as all required documents have been submitted and fees paid.
- Your company must have a registered office in Georgia. This is the address at which official company correspondence will be sent.
- A minimum of two shareholders and one director are required to establish a company in Georgia.
- The company’s name must be registered with the Georgian Intellectual Property Center (GIPC).
- The company must appoint a local agent to represent it before the Georgian authorities.
- A Tax Identification Number (TIN) must be obtained from the tax authority.
If you are looking for an attractive location to do business, Georgia is a great option. With its low taxes and excellent infrastructure, Georgia offers foreign investors a number of benefits and opportunities for business development.
If you want to know more about the benefits of open company in Georgia, contact a legal representative in Georgia who can help you establish your business and guide you through the process. A good lawyer will ensure that all the necessary requirements are met and that your company is set up correctly from the start.
