Free Industrial Zones (FIZ) in Georgia are local territories with favorable conditions for doing business. There are three free zones in the country: in the largest cities of Tbilisi, Kutaisi, and the port city of Poti. Registering a company in one of them allows for conducting business activities while significantly reducing tax expenses.

Companies registered in Georgia's FIZ have a number of undeniable advantages:

• Zero profit tax rate for 10 years;
• Zero VAT rate on the import of equipment and raw materials;
• Exemption from property and land taxes;
• No currency control and restrictions on capital withdrawal;
• No minimum capital requirements;
• Transactions in any currency;
• Convenient location and logistics.

Stages of company registration

The process of registering a commercial enterprise in a free industrial zone of Georgia includes several stages:

Choosing the legal form of the company. Any legal form can be registered in the free zone of Georgia. The most popular are LLC, JSC, branch or representative office of a foreign company.

Checking and reserving a unique company name with the Ministry of Labor, Health and Social Affairs of Georgia.

Preparation of founding documents. All documents must be in Georgian or accompanied by a notarized translation.

Registration of the enterprise with the Justice Department of Georgia with a legal address in the chosen zone. It is also necessary to obtain registration confirmation from the FIZ regulator.

The company registration process takes 7 to 10 days. After receiving the company registration certificate, it is necessary to register with the Revenue Service of the Ministry of Finance, open a bank account, and obtain a license in accordance with the line of business.

Any Georgian FIZ allows for conducting business on very favorable terms. It is important to choose the optimal free zone for the direction of entrepreneurial activity. IT-OFFSHORE lawyers will help you select an FIZ in accordance with your requirements.