Company Registration in Georgia
Registering a company in Georgia is an advantageous offer for investing money. However, this procedure has some drawbacks that hinder the conduct of business.
The main advantages of registration are simply to open a company in Georgia. Open Ltd. is possible if the organization will consist of two people. Each person can be a foreigner, there is no obligation to live in the country. There are no minimum capital requirements.
Why registration is not a complicated procedure:
• Opening a company in Georgia provides for a small sequence of actions. Starting a business is possible within a few days;
• Registration begins with the corresponding application being sent to the registry agency. This procedure is carried out by a shareholder or representative.
Based on this, the country is among the leaders in the ease of doing business. Due to the speed of registration and the minimum requirements, Georgia attracts many entrepreneurs, including foreign ones.
Features of the payment of tax payments
The tax system of the country has a lot of advantages. So, the size of the corporate tax is 15%. Registering a business in the state is noteworthy in that after the registration procedure, the company is not obliged to pay insurance premiums, tax on salary, personal income tax.
If a company is registered in the free zone, it is exempt from VAT, payments for export or import for certain categories of goods and services. Now Georgia has concluded more than fifty agreements on the avoidance of double taxation.
Is it worth developing a business in this state?
Business registration in Georgia is relevant among many entrepreneurs, including foreign ones. This is due to the simplicity of the procedure, which is carried out quickly. In addition, the state has a fairly profitable taxation.
• Georgia is optimal for business representatives of the countries of the former Soviet Union;
• The state is on the list of countries that have the freest economies;
• Trading rules are minimal.
Despite the advantages, registering a company in the country has some drawbacks. Businessmen who want to produce goods and services for the domestic market may face problems. This is associated with a small number of people, so the demand for products can remain low, there is a risk of idle jobs, as it is difficult to recruit employees.
The advantages of starting a business in Georgia are much greater than the disadvantages. To avoid the risk of falling demand, it is recommended to choose the areas of production that are most in demand. For this you need to analyze the market.