LLC, JSC, Partnership, Individual Entrepreneur
In general, there are 6 types of organizational-legal forms of enterprises in Georgia, 5 of the experts are legal entities, they are:
- Joint Liability Company (JLL)
- limited partnership
- Limited Liability Company (LLC)
- Joint-stock company (JSC, corporation) and cooperative
- Individual Entrepreneur Registration (IE)
What are the Main Regulations Related to Company Formation in Georgia?
The company registration in Georgia and related issues are regulated by the Law on Entrepreneurs. Registration is of great legal importance in order to protect third parties and creditors through publicity and to accurately fix the scope of their liability. Registration of an entrepreneurial entity includes both state and tax registration.
The registration of an entrepreneurial entity is carried out by a legal entity of public law operating in the sphere of governance of the Ministry of Justice of Georgia - the National Public Registry Agency (hereinafter - the registering body).
Benefits of Opening Your Company in Georgia
Quick and Easy Business Registration Procedures
A company can be registered in Georgia in a few hours. The process includes minimal documentation and a 15-minute visit to the Tbilisi registration office. The same applies to companies registered by proxy.
0-20% Corporate Tax
Depending on the type of business, corporate income tax can vary from 0% to 20%. Companies in fully free zones are exempt from taxes on certain activities.
No restrictions on foreign ownership or number of directors
There are no restrictions on who can own a company. The owner of the company can be citizens of Georgia, citizens of foreign countries or both at the same time. The owner of a Georgian company can also be a legal entity registered outside Georgia.
Forming and Managing a Company Remotely
It is not necessary to be physically present to establish a company in Georgia. We can register your business in Georgia with a simple power of attorney and all in one day, from the moment of receiving the necessary documentation from you.
Register a Company in Georgia with the Support of LTA lawyers
Our legal services will simplify the process of registering your business in Georgia, and we are ready to go through all the details with you.
- We will evaluate what legal form is the most acceptable for you based on your circumstances;
- We determine the necessary provisions to be reflected in the founding documents;
- We will check whether the name of the company you want is free;
- We will prepare all the necessary documents, including the power of attorney;
- We will draw up the charter;
- We will lead all registration processes;
Registering a business in Georgia is easy and the tax and reputation benefits for owners are huge, our law firm in Tbilisi offers full legal services for businesses and will help you to solve any problems related to establishing a business in Georgia.
FAQs
How to Register a Company in Georgia?
Registering a company in Tbilisi involves several steps:
- Decide on the company type (e.g., LLC, Joint Stock Company) and the company name.
- Prepare all necessary documents, which should include the Articles of Association.
- Submit the documents to the National Agency of Public Registry either online or at their physical location.
- Pay the registration fee. A few days suffice for the completion of the process.
- Once incorporated, the follow-up registration will be for a tax identification number with the Revenue Service. The entire process can, however, be facilitated by legal services in Georgia to ensure observance of the local legislation.
What minimum capital do I need to register a business in Georgia?
A company can be established in Georgia without capital injection. The capital of the company can be equal to 0.
How do I get a bank account after business registration?
It is possible to open a bank account in Georgia without the need to personally travel to the country, you can get a ready-made company with a bank account within a week
What are the basic taxes for companies in Georgia?
The standard value-added tax (VAT) rate in Georgia is 18%. The corporate income tax rate for a company in Georgia is 15%.
How can I Register as an Individual Entrepreneur in Georgia?
Individual entrepreneur registration in Georgia is carried out at the National Agency of Public Registry. One can start by getting an application form, which can also be accessed at the NAPR website, and submitting a personal identification document with an expression of the kind of business one intends to perform. Also, registration is provided online via electronic services on the official NAPR website. Once the application has been submitted with the fee, the registration usually takes around 1-2 business days.
