Published
Sep 4, 2023
Updates:
Dec 10, 2024
Georgia
Price:
Delivery:
Legal forms:
Payment methods:
3 weeks
LLC, LLP, PLLC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Georgia
$
1000
.png)
Location
Capital
Official languages
Population
Currency
ISO 4217
Tbilisi
Georgia
Georgian
3,728,282
GEL
Lari
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Georgia
Q: What is the process for forming a company in Georgia?
A: The process for forming a company in Georgia involves registering the company with the Public Service Hall, obtaining a tax identification number, and opening a bank account.
Q: What are the different types of companies I can form in Georgia?
A: The most common types of companies in Georgia are the LLC (Limited Liability Company) and JSC (Joint Stock Company).
Q: What is an LLC?
A: An LLC is a type of company where the liability of the shareholders is limited to their share capital contribution.
Q: What is a JSC?
A: A JSC is a type of company where the shareholders own shares in the company, and the liability of the shareholders is limited to their share capital contribution.
Q: What are the minimum requirements for company formation in Georgia?
A: The minimum requirements for company formation in Georgia include having at least one shareholder, a registered office address, a minimum share capital of GEL 1, and at least one director.
Q: How long does it take to form a company in Georgia?
A: The time it takes to form a company in Georgia can vary, but typically takes around 1-2 business days.
Q: What are the tax implications of forming a company in Georgia?
A: Companies in Georgia are subject to a corporate tax rate of 15% on their taxable profits. There is also a value-added tax of 18% on goods and services sold in Georgia.
Q: What are the ongoing compliance requirements for companies in Georgia?
A: Companies in Georgia are subject to ongoing compliance requirements, including filing annual financial statements, maintaining proper accounting records, and renewing their business license and other permits as required. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.
"Georgia has a strong and growing economy. According to the Bureau of Economic Analysis, the state’s Gross Domestic Product (GDP) was $541.3 billion in 2019, a 4.2% increase from 2018. This growth was driven by the state’s strong manufacturing sector, which accounted for nearly 20% of the state’s GDP. Additionally, the state’s agricultural sector contributed $14.3 billion to the economy in 2019, making it the second-largest contributor to the state’s GDP.
The state’s unemployment rate has also been steadily declining, dropping from 4.3% in 2018 to 3.7% in 2019. This is well below the national average of 3.9%. Additionally, the state’s median household income was $60,224 in 2019, which is slightly higher than the national median of $61,937.
Overall, Georgia’s economy is strong and growing. The state’s GDP has been steadily increasing, and its unemployment rate is well below the national average. Additionally, the state’s median household income is slightly higher than the national median."
Georgia is a country located in the Caucasus region of Eurasia with a tax system that includes both corporate and personal taxation.
Corporate taxation in Georgia is currently at a standard rate of 15%, which is one of the lowest rates in the world. However, there are some deductions and allowances available, such as those for research and development, investment in machinery and equipment, and charitable donations.
Individuals in Georgia are subject to a flat income tax rate of 20%, regardless of income level. However, there are also various tax credits and exemptions available, such as those for dependents, medical expenses, and education expenses.
The tax year in Georgia runs from 1 January to 31 December, and tax returns must be filed by 1 April of the following year. Taxpayers can file their returns electronically or on paper. Tax payments are typically due in two instalments, with the first instalment due by 15 July and the second instalment due by 15 October.
Taxpayers in Georgia can choose to pay their taxes either monthly or in a lump sum. Monthly payments are based on the previous year's tax assessment and are paid on the 15th day of each month. Lump sum payments are due in July and October and can be paid either online or at a bank.
In addition to income taxes, there are also taxes on capital gains, dividends, and other types of income. Georgia also has a value-added tax (VAT) system, which is similar to the sales tax system in other countries. The VAT rate in Georgia is currently set at 18%.
It is important to note that tax laws and regulations in Georgia are subject to change. Taxpayers should consult with a tax professional or the Georgian tax authority for the most up-to-date information on tax rules and procedures.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
<txtStatus>
<txtSaving>
Please complete the form with attention to detail. Once submitted, our team will review the information. Following this, you will receive a confirmation and an invoice via email.