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Georgia Company 2021 Registration & Taxes 

Georgia Company 2021

 Registration and Taxes

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Currently, Vardanyan & Partners do not provide services in Georgia. We make no warranties or representations as to the accuracy of content on this and we assume no liability or responsibility for any error or omissions.

Georgia is a modern and fast growing country with rich history and traditions, beautiful nature, excellent cuisine, low taxes, low crime rate, and low cost of living. Foreign business owners and investors appreciate the pace of the economic reforms, Georgia's safety, freedom and openness. 

A knowledgeable local lawyer can help you to minimize risks by ensuring compliance with tax, labor, immigration and other regulations, avoid pitfalls and take advantage of tax benefits and other government assistance programs, especially if you do not speak Georgian or plan to run your business remotely.

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Georgia Company Formation Questionnaire 2020.07.28

Legal Guide to Georgia Company Formation and Taxes

#1. Corporate Forms

#2. Virtual IT Zone Company

#3. Free Industrial Zone (FIZ) Company

#2. Branch Office and Subsidiary

#3. Non-Profit Organizations

#4. Business Name

#5. Legal Address & Phone Number

#6. Registration

#7. Tax Registration

#8. Taxation

#9. Shareholders & Managers

#10. Bank Account

#11. Licenses & Permits

#12. Chambers of Commerce

#13. Changes & Dissolution

12 Reasons for a Georgian Residence Permit

1. Ultra-Fast and Easy Registration

Company registration can be done in a single day if you are physically present in Georgia and choose to use sample registration documents. If the documents are customized or in case of remote registration (with a power of attorney) the process may take slightly longer. Setting up a corporate bank account normally takes one day. Only minimum documents are required, such as the passports of the shareholders and directors. 

2. Low Cost of Registration and Maintenance

There are no minimum capital requirements. The company's paid-up capital can be as low as $1. There are no government fees for registering or renewing the registration of a company. The company can be in good standing without paying recurring fees of filing reports.  Inactive (dormant) companies do not pay taxes and do not file tax returns. There are no requirements to rent an office, hire local people (directors, officers, secretaries, accountants, etc.), open a bank account, etc.

3. No Restrictions on Foreign Ownership

Foreigners can own 100% of a Georgian company. No local partners or agents are required. No restrictions apply to the citizenship or residency of the shareholders. All the directors and employees of a Georgian company can be foreigners. They are not required to reside in Georgia or have a local address. A foreigner can be the only director and the 100% owner of a company.

4. Residence and Path to Citizenship

Owning or managing an operational company in Georgia can qualify you and your family members for a residence status (temporary or permanent). Under general naturalization rules, a foreigner may become eligible for Georgian citizenship after ten years of residency. Georgian passport ranks 53rd in the world (as of 2020) and allows visa-free travel to 116 countries and territories, including EU (Schengen) countries, most of CIS countries, Iran and Turkey.

5. Low Taxes

The corporate income tax (CIT) rate in Georgia is 15%. However, a company does not have to pay any taxes on accrued profits until such profits are distributed. Zero-tax status is available to FIZ companies, virtual zone IT companies. Sole proprietors with annual sales of less than GEL 30,000 ($10,135) are exempt from taxes. Sole proprietors with annual sales of less than GEL 500,000 ($167,000) are taxed at 1% of their sales. Dividends are generally taxed at 5% but this rate can be lower due to multiple double-tax treaties Georgia has signed. 

6. Privacy and Reputation

It is possible to ensure the privacy of company ownership by selecting the right corporate structure or by using nominee services. Bank secrecy is strictly protected by law and it is a crime to disclose it. As of 2020, Georgia does not participate in CRS automatic exchange of information (AEOI). Georgia does not appear on any list of offshore jurisdictions, lending to its positive image and credibility. The country has an up to date anti-money laundering legislation, and the National Bank has ensured the safety, stability and good reputation of the banking system.

7. Educated and Low-Cost Labor

It is possible to find highly educated and skilled workforce in Georgia. The adult literacy rate is 99%. The is no minimum monthly salary, while the average monthly salary in the country is around $450. 

8. Economic Growth and Integration

Georgia is a member of the WTO and has free-trade agreements with ex-Soviet (CIS) countries.  Georgia is a modern and fast growing country with rich history and traditions, beautiful nature, excellent cuisine. It has a strategic location in the Caucasus region and is a primary spot for investors who want to access both the European and Asian markets. The country is a free and open democracy that boasts a uniquely liberal business and trade regimes, low taxes, developing infrastructure and a very low crime rate. Georgia's international rankings are available below.

9. Investment-Friendly Environment

There are many ways to make smart business investments in Georgia, for example in tourism, agriculture, manufacturing, real estate or outsourcing. The government offers many incentives and grants, has lowered or made certain taxes non-existent, thus generously lowering the costs of doing business. Georgia has a wide network of agreements on double taxation and protection of foreign investment.

Georgia and Armenia Overview


Area SQ.KM.







Yerevan (1,075,000)

TBILISi (1,114,000)


christian (94.8%)

christian (88.1%)













DRAM ($1 = 520 AMD)

LARI ($1 = 3.31 GEL)

Average Salary:



GDP Growth:



GdP per capita:









Georgia and Armenia in International Rankings

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Copyright 2021 - Vardanyan & Partners LLC

Nerses Isajanyan

Managing Attorney
LL.M. Georgetown University
New York Bar | Armenian Chamber of Advocates

We are a team of licensed lawyers based in Armenia and Georgia. Our primary commitment is to provide quality service to clients at a compelling value that helps manage risk, overcome regulatory issues and advance their personal and business goals. 

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  • Tax Planning
  • Tax Compliance
  • Payroll Services
  • Labor Compliance
  • Visa & Residence
  • Residence & Passport
  • Real Estate Transactions
  • M&A
  • Reorganization
  • Dissolution


Nerses Isajanyan


LL.M. Georgetown University

New York Bar | Armenia Chamber of Advocates

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Georgia 2020.04.13