Business registration in Georgia in 2023
Registering a business in Georgia in 2023 is quick and easy. To do this, you need to apply to the House of Justice, which has branches in many Georgian cities, collect the necessary documents, and rent an office (a virtual office is acceptable).
Step 1. Georgian address
To open a business in Georgia you will need a legal address registered in the country. The peculiarity of this requirement is that the address cannot be a rented premise. The property must belong to the business owner, his or her company, or legal representative. To solve this problem, you can rent a virtual office by contacting our company. That way, you will be able to receive letters from the state authorities, and our team will forward the correspondence to you.
Step 2. Translator
All documents must be in Georgian, so you will need an interpreter. They not only have to translate the text but also cooperate with a notary, to be able to notarize it.
Step 3. Choose a form of registration
Different legal forms of business can be created in Georgia. The most popular are:
LLC - number of owners from 1 to 50 people, the minimum amount of capital is 200 lari, the liability of partners is limited to a share in the capital.
Limited Liability Partnership - one or more partners. Minimum capital is not required, liability is limited for some and unlimited for other board members (it depends on the conditions in the founding papers).
Sole proprietorship - no minimum share capital is required, the entrepreneur is fully liable for his debts.
Joint-stock company - one or more partners, minimum basic capital is 15,000 lari. Shareholders are not liable for obligations of the JSC, outside the limits of assets.
Limited Partnership - one or more owners, minimum capital is not required. Limited partners are liable to creditors within the limits of their investments. The general partners are personally liable for the debts of the company.
Step 4. Collection of documents
Depending on the form of company registration in Georgia in 2023, you might need to apply with a different package of paperwork. If it's an LLC, you'll need:
An application to start a business.
A copy of your passport, notarized.
A receipt that confirms payment of the registration fee.
If the business needs a license, other permits, they must be provided.
Step 5. Registration with the Tax Authorities
To register a company with the tax office, you need the following documents:
An application for registration as a taxpayer;
A copy of incorporation documents;
Copy of the passport of the business owner;
Confirmation of the legal address.
The company will receive an identification number (ID) when the documents are executed
Step 6. Opening a corporate account in Georgia
During business registration, you need to open an account in a Georgian bank. If you open an LLC, you need to indicate the company's tax number. When registering as an individual entrepreneur, you can open an account in your own name. You will need to send all account details to the Tax Office.
How to start a company in Georgia fast
Contact IT-OFFSHORE experts to open a business in Georgia in 2023.