Guide to Company Incorporation in Georgia

1. What is the minimum share capital for a Limited Liability Company in Georgia?

There is no obligatory minimum capital for establishing a Limited Liability Company in Georgia.

2. What is the minimum share capital for a stock corporation in Georgia?

As in the case of a limited liability company, there is no minimum share capital required for setting up a joint-stock company in Georgia. 

3. Are there any special requirements for establishing a Limited Liability Company in Georgia?

There are no special requirements regarding the nationality or residence of shareholders and company directors. Moreover, a work permit or insurance number is not required either. In order to be incorporated, a company must register with the Entrepreneurial Registrar at the local tax office. The procedure involves state and tax registration.

4. How can I register for VAT in Georgia?

Registering for VAT implies submitting an application to the tax authorities, together with a copy of the Registration Certificate.

5. How can I open a bank account in Georgia?

Opening a bank account in Georgia takes only one day and it requires a minimum cost of 10 GEL (about 4-5 EUR). In order to open the bank account, some documents must be submitted to the bank, such as an application, the State and Tax Registration Certificate, a sample signature of the director of the company and copies of identification documents of the persons authorized to represent the company.

6. How can I recruit personnel in Georgia?

You can hire an individual employing agency in order to find the best qualified personnel in Georgia or you can advertise your vacant jobs through the State Personnel Administration, which is a state agency for employment.

7. What is the average salary in Georgia?

The average monthly salary for employees in Georgia is around 210 EUR.

8. What is the overall economic situation in Georgia?

Although the living conditions are not very promising in Georgia and the unemployment rate is quite high, the economic situation is on its way to flourishing into an attractive investment target. However, its low tax regime and business friendly environment turns it into a potential point of attraction for foreign investors, who might want to set up companies in the country with a Gross Domestic Product that exceeds 12.000 billion USD.