How to quickly open a company and a bank account in Georgia
Georgia welcomes investors, so a foreigner can start a business without any problems. There are two easy ways to open a company and a bank account in Georgia: you can register a company from scratch or buy a ready-made business.
Registering a firm
Investors can open branches in Georgia or register a firm from scratch by choosing a legal form. In most cases, entrepreneurs open an LLC (limited liability company). It is also possible to open a limited liability partnership, joint stock company, and sole proprietorship.
To register a company in Georgia you should apply to the National Public Registry of the Ministry of Justice. The Registrar must be provided with the following:
- Articles of Incorporation;
- information about shareholders, owners;
- purpose of the activity;
- by-laws or shareholder agreements detailing the management of the company.
You may also need other documents, as our representatives will tell you. Documents issued outside of Georgia must be translated into Georgian, notarized, and apostilled.
Registration consists of the following steps:
- payment of the registration fee;
- submission of documents to the National Registry of Companies. The procedure includes registration of Articles of Incorporation to obtain a national identification number, and free tax registration;
- receiving a certificate of registration;
- opening of a bank account.
It is possible to register a company online. In order to do this, founders have to write a relevant power of attorney for our company, and we will take care of all administrative formalities. Additionally, a notarized signature sample must be sent to us.
Opening a bank account
After obtaining a registration certificate, you need to open a bank account, which the company will use for business. This is also where the founding capital is deposited.
To open a bank account in Georgia 2022, you must provide the following documents:
- Company registration certificate;
- Articles of Association;
- Certificate of tax registration;
- A specimen certified signature of the official who will be responsible for managing the business;
- Copies of the passports of all persons who have the right to work with the corporate account.
If the firm has provided all the documents, the account will be opened within an hour.
Buying a business in Georgia
While registering a business in Georgia is not much of a problem, there is an even easier way to become a Georgian business owner. An investor can buy a firm and start operating the day after purchase.
There are two options:
- Buy a shelf company - a firm that has been incorporated but not yet operating. It has a clean credit history, no problems with the law, customs, etc;
- Buy a functioning enterprise - such a company should be carefully checked before buying, so that you don't end up with a burden of heavy liabilities.
How to start a business quickly
Call IT-OFFSHORE experts for a quick help with startup in Georgia 2022 and we'll help you.