Frequently Asked Questions
Individual Entrepreneur (IE)
We need your business name, your phone number, email address and passport. You’ll also need a legal address, be it of your own property or property of your legal representative. Remember that you can use our virtual address service if you don’t own one.
We’ll take care of the rest. From the IE registration to the registration at the Georgian tax office.
Considering all the registrations we have successfully performed for our clients, the whole process takes from 2 to 3 business days in most cases. This includes the visit to the Public Services Office and the Tax Office, where one of our agents will accompany you.
It’s important to note that government fees are charged directly by government entities (Public Services Office and Tax Office). The fee for the registration is of 20 GEL if you wish to complete it in the next business day. If you want to complete it in the same day the fee is 50 GEL. Additionally, you will be charged 20 GEL for the English translation of the registration confirmation. If you don’t pay this last fee you will only receive the confirmation in Georgian for free. There is an additional fee for document processing, which is generally 5 GEL. (Prices are an approximation at the date of writing this guide).
No, with a power of attorney and an apostilled passport copy we can complete the whole process remotely, for an additional fee of 200 €, as explained in the Pricing page.
All businesses, be it individuals or companies, are required by law to have a permanent legal address in Georgia.
The government of Georgia needs a way to carry out a tracking of businesses in Georgia. With a temporary address, it would be to easy for people to register a business and then disappear.
We can offer this service for you for an annual fee, for every business you would like to register with our legal address. You can find more information in the Pricing page.
Yes, but our accounting system will submit the annual registration automatically unless you request to cancel it. We will continue to receive your mail and act as your legal address as long as you pay the annual fee.
Absolutely. Get in touch with our team, answer a few questions about your business and we’ll get the paperwork going. In most cases we approve all requests after a preliminary check. Depending on the situation, we might charge you an administrative fee on top of the annual legal address fee, in which case you will be informed beforehand.
Only if you’re already a Georgian resident we will have to include the 18% Georgian VAT in the invoice. If you live outside of Georgia, we won’t collect VAT.
Limited Liability Company (LLC)
Except for very specific cases, there’s no minimum capital requirement to register a company in Georgia.
We need your business name, a phone number, an email address and original passports of all company directors (a power of attorney and apostilled copies of the passports are also valid). You’ll also need a legal address, be it of your own property or property of your legal representative. Remember that you can use our virtual address service if you don’t own one.
Considering all the registrations we have successfully performed for our clients, the whole process takes from 2 to 3 business days in most cases. This includes the visit to the Public Services Office and the Tax Office, where one of our agents will accompany you.
The fee for the registration is of 100 GEL if you wish to complete it in the next business day. If you want to complete it in the same day the fee is 200 GEL. Additionally, you will be charged 20 GEL for the English translation of the registration confirmation. If you don’t pay this last fee you will only receive the confirmation in Georgian for free. There is an additional fee for document processing, which is generally 5 GEL. (Prices are an approximation at the date of writing this guide).
No, both IE and LLC registrations are permanent in Georgia, and there are no fees or renewal procedures of any kind. You must only renew your legal address annually if it’s not your own property.
No, with a power of attorney and an apostilled passport copy we can complete the whole process remotely, for an additional fee of 200 €, as explained in the Pricing page.
All businesses, be it individuals or companies, are required by law to have a permanent legal address in Georgia.
The government of Georgia needs a way to carry out a tracking of businesses in Georgia. With a temporary address, it would be to easy for people to register a business and then disappear.
We can offer this service for you for an annual fee, for every business you would like to register with our legal address. You can find more information in the Pricing page.
Absolutely. Get in touch with our team, answer a few questions about your business and we’ll get the paperwork going. In most cases we approve all requests after a preliminary check. Depending on the situation, we might charge you an administrative fee on top of the annual legal address fee, in which case you will be informed beforehand.
Only if you’re already a Georgian resident we will have to include the 18% Georgian VAT in the invoice. If you live outside of Georgia, we won’t collect VAT.
Virtual Zone (VZ)
According to Georgian laws, the business activity must consist in the creation of software products, where the creation process takes place within the territory of Georgia. This includes SaaS (Software as a Service) companies as well as web development companies, and any other business model where there’s a clearly defined software product and the work takes place inside Georgia. It must be clear at the time of applying for the Virtual Zone that the majority of the business is based around software. This may change after the application is approved, but the amount of taxes paid may also change in regards to business activities that cannot be proven to be tied to software development. Due to the complex criteria, we’ll work with you to make sure that the application is approved.
No. You can start your business activities from the moment you obtain your LLC registration confirmation, and apply for the VZ at a later date. Despite of that, we recommend to start the process at least 90 days before the end of the fiscal year.
The official duration stated by the government is of up to 10 business days to approve or deny the application. However, in practice Virtual Zone applications tend to take between 1 to 2 months to be resolved, depending on the additional follow-up procedures that the government agent decides to pursue.
Yes, you can manage the company remotely from another country. Nevertheless, it’s not allowed to have your company headquarters in another country, since one of the requirements for the Virtual Zone certificate is to prove that part of your company’s work is being carried out in Georgia.
In the unlikely case that your VZ application is denied, we will do our best to resolve the situation by analyzing the reasons for such denial. In any case and due to our experience, we submit VZ applications because our preliminary analysis shows that your application is viable. Regardless, in case of obtaining a definitive denial of your VZ application, you will be able to continue operating with your LLC normally, without the privileges of the Virtual Zone.
Only if you’re already a Georgian resident we will have to include the 18% Georgian VAT in the invoice. If you live outside of Georgia, we won’t collect VAT.
Bank account
In order for foreigners to open a corporate bank account in Georgia, it’s necessary to prove certain aspects about your business, and it’s not uncommon for people to make mistakes during this process that can lead to the application being ultimately denied. We have experience in the peculiarities of Georgian banks, and can help you get your application approved in the first try.
Important: Remote applications tend to lead to denials from Georgian banks and are not guaranteed to be successful on the first try. Furthermore, remote applications may result in higher fees. You will also need to send us a power of attorney and an apostilled copy of your passport. We’ll discuss the available options before charging you any additional fee for this service.
If the bank does not understand your business model and source of income clearly, it can flag the application as suspicious. In some cases, if the income for your business is mainly in foreign currencies instead of the local Georgian lari (GEL), it could also be flagged as suspicious.
Nevertheless, the actual details of the bank’s decision are more complicated, and thus having a lawyer by your side to aid you in your specific case can be very beneficial.
Between 3 and 7 days approximately, depending on the roadblocks that may arise or specific inquiries about your situation from the bank’s back office.
Not 100%. Anyone that offers a magic wand and 100% success guarantees is probably putting their commercial interests before yours. Nevertheless, we have carried out this procedure countless times and we are sufficiently informed to detect red flags and deal with them before submitting applications.
In the unlikely case that your application is denied, we will reevaluate your case and perform a new analysis, possibly offering you to open a bank account in an alternative well-known Georgian bank entity, at no additional cost to you.
These are relatively simple to open in person (depending on your passport’s country), but if you need help with this procedure reach out to us and we will help you.
Accounting services
It includes a tax consultation and preliminary analysis, bookkeeping of your income and monthly expenses, employee contracts and salaries, filing and declaring taxes, accounting reports and filing annual accounting reports.
The accounting service fee starts at 89 € for IE and 109 € for LLC. Depending on the volume of invoices, number of employees and other specific needs, the price may vary or stay at the initial amount. In any case, you can get in touch with us and we will send you a budget tailored to your needs.
Online Consultation
The consultation has a price of 200 €, but you will also be able to pay in USD or GEL, applying the conversion at the time of payment. When you make a reservation, please don’t forget to enter your information as well as your business billing details in the form so we can invoice you properly.
Only if you’re already a Georgian resident we will have to include the 18% Georgian VAT in the invoice. If you live outside of Georgia, we won’t collect VAT.
At the time of payment you’ll be able to book the date and time that works best for you. You’ll be able to choose from all the dates we have available at that time.
During the session you’ll be able to ask all kinds of questions related to:
- Differences between Limited Liability Companies and Individual Entrepreneurs, and which is more adequate for your case.
- Company registration and drafting of bylaws.
- Taxation.
- Georgian laws.
- Georgian lifestyle and cost of living.
- Investing in Georgia.
No, in order to protect your privacy and ours as well as abide by the GDPR laws, recording the session is not possible. For more information please read our privacy policy.
Don’t worry, our team will always be available after the session to answer any further questions or to put you in touch with your dedicated advisor.
Need help?
Book an online session with one of our tax consultants to solve your tax questions regarding the viability of your business in Georgia, or if you need advice about Georgian laws.
Price per session: 200 €
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Our office in Tbilisi
7 Innovation St.
Okrokana, Tbilisi
Georgia