F.A.Q. - Frequently Asked Questions
In Georgia, they are 5 legal forms:
-General Partnership
-Limited Partnership
-Limited Liability Company
-Joint Stock Company
-Cooperative
The process to open a company is very fast (average of 1 day).
The type of documents will of course depends on the type of structure you would like to open.
Below the general documents needed:
-An application (filled in the electronic program by the document recipient operator);
-An identification document (ID card, passport, residence certificate, neutral ID card or neutral travel document);
-In case of the primary registration: signed by all partners and duly certified registration application (Charter/partners’ agreement); in case of amendment registration: decision made and confirmed by the authorized person/agency related to the required amendment, or a transaction drawn up by the authorized persons in accordance with rules provided by the Georgian legislation.
-Duly composed agreement of the owner of the real property or the document confirming rights to the real property of the interested person, drawn up in accordance with the legislation;
- A document of assignment of the authorized person for management and representation;
-A certificate of the fee payment for the registration service (within one work day – 100 GEL).
The CCIFG strongly advise you to consult an accoutant before starting your company to have a full comprehension of the responsabilities of the status.
No.
The Georgian law authorised companies to have a legal address without a physical office in the country.
The CCIFG can provide to you this service if needed.
The Georgian law does not oblige businessmen to take a Georgian partner to start an activity.
However the CCIFG strongly recommands to have a long term contact in the country to assist you.
They are 5 taxes:
-Corporate taxes: 15%
-Income taxes: 20%
-VAT: 20%
-Custom taxes: 0% to 20%
-Excise: according to the product
The CCIFG advises you to take contact with an accountant as you may benefit from tax reduction according to your activity or to your turnover.
Georgia has 4 Industrial zones where the only taxe to pay is on the income. (No VAT if you have an export/import activity)
If you have an European passeport, you do not need a work permit to come and start an activity in Georgia.
Citizens of the European Union do not need a visa to come to Georgia (since the liberalisation of visa between the European Union and Georgia, 9 March 2016).
After a year on the territory, you will need to apply for a residency permit.
The Georgian government launched many initiatives to develop the economic activity of its country.
One of the most famous program launched is "Produce in Georgia" of Entreprise Georgia. They support the implemantation of companies by giving almost 0% credit or by offering land to them.
Many other programs exist, supported by the International organisations (EBRD, EIB,...).
Today the stress is put on the development of Small and Medium Entreprises.
Do not hesitate to take contact with us for advises on the different support you can get.
3 sectors of activities:
Infrastructure
The Georgian government wants to position itself as a logistic hub in the region to make the link between Asia and Europe. Many infrastructure works have been undertaken to attract investments and companies (construction of a deep sea port in Anaklia, restauration of roads, constructions of North/South and West/Est Highways, increasing of the number of flights and destinations,...)
Tourism
Georgia is becoming a more and more popular touristic destination. It was declared by the World Tourism Organisation as the 4th world’s most fast-growing tourism destinations in 2017. The country received more than the double of its population in a year and in 2017 received 2 billion revenues from it.
Energy
Georgia has 77% of its production of electricity coming from renewable sources (hydroelectric + wind power). It is the 2nd country in Europe in terms of water reserves and 20% of its natural ressources are still to be exploited.
The presence of French companies is growing every year and in various sector of activities:
Construction
Energy
Agrobusiness
Pharmaceutical
Industry
Bakery
Hospitality
Mass distribution
....
And many other
All the tenders in Georgia are published online of the plateform below:
The main difficulty in Georgia is the underqualified workforce. The level of education is lower than the one in Europe and a company should take it into account. Indeed additional trainings are usually required.
The government is working on this issue by for exemple promoting the exchange programs between the countries.