How to open a crypto company in Georgia
The country's economy is actively developing, and it is becoming profitable to open a crypto company in Georgia. In order to attract investments from other countries, the state has opened FIZ. Georgia's performance in the cryptocurrency business is attractive, despite the lack of development in the information technology sector.
Peculiarities of regulation of cryptocurrency activities
Before opening a cryptocurrency company in Georgia, it is recommended to get acquainted with the nuances of fiscal policy. Obligations arise in relation to the income received from the source of the country. The level of taxation is quite low, companies that have registered in the FIZ have some benefits.
The country has approved a system that involves registering bitcoin transactions. A blockchain-based land registry project has been launched. The state stimulates the attraction of investments in cryptocurrency. This type of currency is not a mandatory means of payment.
Peculiarities of registering a company in FIZ
There are some nuances of registering a company for cryptocurrency activities in Georgia in the free industrial zone. In order to attract investments from other countries, it was decided to create territories where companies can get tax exemptions when doing business abroad.
Opening a business in the FIZ is available not only for residents, but also for businesspeople from other countries. Basic conditions for legal entities planning to register in FIZ:
- Foreigners or residents can act as founders;
- Availability of a real registered address is required;
- Individual requirements for charter capital can be set;
- Obtaining a license is required;
- Activities must not fall under the category of prohibited.
The advantage of opening a company in FIZ and processing a cryptocurrency license in Georgia is that you can get a tax exemption. Companies do not pay corporate income tax, VAT, property tax, and dividend tax.
In which zone to open a company
To obtain a cryptocurrency license and open a business in the FIZ, contact the experts at IT-OFFSHORE. There are several zones in total where it is possible to register a firm.
Tbilisi zone is located in the capital of Georgia. It is known for its well-developed infrastructure, there are representative offices of many international companies and financial organizations. Popular activities are information technology, mining farms, and pharmaceuticals.
Kutaisi is characterized by low cost of living services, and it is possible to obtain a single license for all types of activities. Opening of mining farms and cryptocurrency activities are relevant there. Here you can get a license and conduct legitimate activities, as well as increase the competitiveness of your company and prove your professionalism.
In Hualing Kutaisi FIZ, there is a cheap labor force. It is important to open factories, as well as manufacture construction materials and furniture. Poti, one of the largest zones is located near the seaport. It is possible to open different types of productions and logistics companies.