Georgia Company Formation

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Georgia

Company Formation and Related Services

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Company Formation in Georgia

F.A.Q.

Georgia represents an attractive investment environment for foreign companies as the incorporation process takes a very short time, if all the requirements are fulfilled. Aside the easy incorporation process, foreign investors will be glad to know that their companies will benefit from the same rules as the local companies.

Company incorporation in Georgia

Any person - no matter his or her nationality or residency - can be a director or a shareholder in a company in Georgia. Shareholders of a Georgian company can be natural persons or legal entities. The company must have a local registered office (BridgeWest offers this type of service) and no start-up capital is required for incorporating a limited liability company in Georgia.

The first step when deciding to open a company in Georgia is to decide upon the name of the new company.

The next step will be preparing the certificate of incorporation or articles of association that will require information about the business activities, the shareholders, the shares that will be issued and the company structure.

The client must also appoint a registered agent, set up the corporate records books and prepare the corporate bylaws.

If the investors do not want to go through the incorporation process themselves, they can name representatives who, through power of attorney with the specific apostil and notarization of a Georgian public notary, will be allowed to conduct the incorporation process. The power of attorney will be useful in setting up a bank account for the new company also. Once the registration with the Agency of Public Registry is concluded, the new company will receive its certificate of incorporation and it will be allowed to conduct business activities.

After the registration process is completed, the new Georgian company is also required to register with the tax authorities. The registration process is simple only requiring an application form that contains data about the shareholders, directors and management board, a certificate of the bank account, the registered office and the articles of association of the company.

As mentioned above, the incorporation process and registration for taxes is very simple and fast, taking about one week to have the company established and running business operations in Georgia.

Bridgewest provides the following services:

- drawing up the articles of association that can be signed through power of attorney (Georgian laws require powers of attorney for any public notary proceedings);

- drawing up documents for company incorporation in Georgia: specimen signatures, identification papers copies, application forms required for company registration;

- arranging public notary proceedings (all procedures for company incorporation are done in front of a Georgian public notary);

- providing a registered office in Georgia on demand; the registered office serves as headquarters for the company in Georgia and it will be made public;

- setting up a bank account for the company in Georgia; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated;

- recommending a Georgian accountant, as accounting services are needed for new businesses in Georgia.



Types of companies in Georgia
 


The limited liability company in Georgia

The Georgian limited liability company is the most common type of company as it requires no minimum share capital, it can have at least one shareholder and its shareholder or shareholders will be held liable for the company’s debts and obligations to the extent of their contributions.

The joint stock company in Georgia

The joint stock company in Georgia requires at least one shareholder. There is no minimum share capital required for the incorporation of a joint stock company, but it must have an authorized capital. The shares of a joint stock company in Georgia can be traded on the stock exchange.

The limited partnership in Georgia

Limited partnerships in Georgia can have at least two natural persons or legal entities as founding members and one of the shareholders will be considered a general partner and will have full responsibility for the company’s debts and obligations, but it will also have managing rights, while the limited partners will be held liable to the extent of their contributions and have no decision making rights.

Taxation in Georgia

The standard VAT rate in Georgia is 18% and a zero VAT rate applies to exports, tourism facilities, international transport and transfers of gold to the National Bank of Georgia.

The corporate tax in Georgia is set at 15%. For Georgian companies, the tax on dividends and interests is set at 5% for both local and foreign entities and individuals.

BridgeWest is also able to offer ready-made Georgian companies and VAT registration.

Please contact us for more information about how to open the company in Georgia and prices.
 



Articles on Company Formation in Georgia

Types of companies in Georgia

The Georgian government encourages foreign investment and guarantees nondiscriminatory behavior. The most common Georgian company form is the limited liability company, but there are other business types available for every need. Open a Limited Liability Company in Georgia The Georgian limited liab ...

Set up Company in Georgia

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Open Company Branch or Subsidiary in Georgia

Georgia offers a great economic environment for foreign investors in order for them to invest here.  Setting up a business in Georgia is a straightforward process requiring few steps. Incorporating a brand new company isn't the only method to invest in Georgia. Already existing companies are fr ...

Guide to Company Incorporation in Georgia

1. What is the minimum share capital for a Limited Liability Company in Georgia? Unlike in other European countries, there is no obligatory minimum capital for establishing a Limited Liability Company in Georgia. Usually this capital is decided by the articles of association and each shareholder mus ...

Paying Taxes in Georgia

1. What is the corporate tax in Georgia? The corporate income tax rate for a business in Georgia is 15%.   2. What is the VAT in Georgia? In Georgia, the standard VAT rate is 18%. There are no reduced rates, but a zero VAT rate applies to exports, services of tour operators ...

VAT in Georgia

1. What is the VAT in Georgia? The standard VAT rate in Georgia is 18% levied on sales of goods and services, as well as importations. Exports are not subject to VAT and some other transactions are also exempt from VAT under the Georgian law. These include financial services, assets within the state ...

Company Dissolution in Georgia

BridgeWest handles company liquidation in Georgia. For more information, please contact us. The dissolution of a company in Georgia must follow the regulations from the Official Code of Georgia Annotated (O.G.C.A) code sections 14-2-1401 through 14-2-1408. There are two ways a company may be d ...

Register a Non Profit Organization in Georgia

A Georgian non-profit organization is an entity with charitable character established by several persons with a different scope than the one of making profit for its members. The main rules after which the non-profit organizations are operating and established are included in the Georgian Constituti ...

Nominee Director in Georgia

 In Georgia, the main forms of business, the limited liability companies or the joint stock companies, are legal entities formed based on a set of rules and regulations, called articles of association. These articles are stipulating the name and the address of the company, the objectives, detai ...

Open Business in Georgia
We guarantee a cost-efficient solution for full company setup, bank account and VAT registration

Meet is in Tbilisi

Call us now at +44 203 287 0408 to set up an appointment with our lawyers in Tbilisi, Georgia. Alternatively you can incorporate your company without traveling to Georgia.

As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Georgia.