set up a company in georgia incorporation

Incorporate in Georgia

$1,950.00

Set up a Georgia LLC

Incorporating a company in Georgia may be an attractive option for several reasons:

To begin with, it is located in a strategic area bordering Asia and Europe, with a developed infrastructure. It is an important distribution hub between both continents, and also has trading relationships with practically all countries, including the European Union, United States, China, Turkey, and Iran. It is part of the World Trade Organization, has free trade agreements with the EU and the EFTA countries, Russia, and other countries of Eastern and Central Europe.  This provides access to a market of 900 million people without any duty tariff restriction, and a system of generalized preference with US, Canada, Japan, Norway, and Switzerland. In addition, Georgia has signed bilateral investment agreements with 32 countries.

Foreigners can own a company in full, without requiring any kind of visa or permit, and its registration is relatively simple. As we mentioned before, Georgia ranks sixth in doing business ease of starting a business ranking.

Taxes are considerably low in Georgia, The World Economic Forum’s Global Competitiveness Report listed Georgia the ninth lowest-tax economy.

Corporate Taxation

Georgia taxes legal entities on their worldwide income, but a tax credit may be available for foreign tax paid up to the income tax assessed in Georgia.

Companies registered in Georgia are subject to a 15% flat corporate tax on their actual and deemed distributed profit. This means that profits retained and re-invested in the company are not subject to taxation.

Payments to residents and non-residents on interests, dividends, and royalties are subject to a final withholding tax of 5%. Payments on technical or professional fees are subject to a 10% withholding tax. If the recipient is a resident company of a considered tax-haven, a 15% withholding tax may apply

Learn more about incorporating a Georgia LLC:

Georgia Limited Liability Company (LLC) Formation and First-Year Fees – USD 1,950.00 (All included) (Remote company setup)

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Georgian LLC, and keep it in good standing with the LEPL, as well as government fees and duties, disbursements such as notarial and courier fees.

  • Preparing Limited Power of Attorney to incorporate the company on behalf of the Client
  • Preparing Certified Translation and Notarization of the Power of Attorney
  • All Applicable Notarial Fees
  • All Applicable Registration and Government Fees (Registry of Entrepreneurs and Non-Entrepreneurial (Non-Commercial) Legal Entities, National Agency of Public Registry)
  • Preparing and Executing English and Georgian version of the Company Charter
  • Filing Company Charter (Articles of Association) with the Registry
  • Providing Company Extract from the Public Registry, in both English and Georgian languages
  • Registering the Company with the Revenue Service Agency
  • Providing Registered Office Services, including business address, for one year
  • Preparing Certified Copies of Corporate Documents
  • Delivering Certified Copies of Corporate Documents via Courier, inclusive of Courier Fees

Time to Form the Company

company in Georgia can be incorporated via issuing a limited power of attorney to our Georgian officer, who will register the company on behalf of the shareholders.  The turnaround time to form the company and prepare related documentation is generally 2-3 days (subject to the notary availability) from the day we receive the Power of Attorney.

Georgia Bank Account – USD 700.00 (Remotely via Power Of Attorney)

We primarily work with TBC Bank and Bank of Georgia, although we can open accounts in any other Georgian bank. All banks provide for debit/credit cards.

In order to open the bank account remotely, we will need another limited power of attorney for carrying on this procedure on behalf of the directors. The power of attorney for the bank account needs to be issued by the directors in their capacity as directors of the company (as opposed to the Power of Attorney for incorporating the company, which shall be issued as the subscriber(s) of the company), and therefore, we cannot use the same power of attorney than for forming the company (at the time the PoA for incorporating the company is issued, the company still does not exist).

Annual Fees – USD 1,600.00 (payable one year after incorporation, and annually thereafter)

  • Providing Registered Office Services, including business address, for one year
  • Preparing and filing Annual Accounts and Annual Return
  • Preparing and filing the Corporate Tax Return
  • Annual Return Filing Fees and related disbursements

Other Services (Optional)

  • Application for Virtual Zone Status, and related tax exemptions
  • Full Accounting and Book-keeping Services
  • Assistance with obtaining Residence Permits

Please, contact us for further information.

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