Official Name: Georgia
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Georgia is a country located in the Caucasus region of Eurasia, bordered by Russia to the north, Turkey and Armenia to the south, and Azerbaijan to the east. The country has a rich history, diverse culture, and a growing economy.
Georgia has a long and complex history, dating back to ancient times. The region was conquered by the Persians in the 6th century BC, and later by Alexander the Great. Georgia then became a part of the Roman Empire, followed by the Byzantine Empire, and later the Mongol Empire. In the 19th century, Georgia became a part of the Russian Empire, and gained independence in 1918. However, it was later incorporated into the Soviet Union, and regained its independence in 1991.
Georgia has a unique and vibrant culture, with a mix of Eastern and Western influences. Georgian culture is known for its hospitality, traditional music, dance, art, and cuisine. Georgian food, such as khachapuri (cheese bread) and khinkali (dumplings), is world-renowned. Georgian wine, made using ancient methods, is also highly valued.
Georgia’s economy is developing rapidly, with a focus on tourism, agriculture, and energy. The country’s strategic location makes it an important transportation hub, linking Europe and Asia. The Port of Batumi on the Black Sea is a major gateway to the Caucasus and Central Asia. The country is also investing in renewable energy, with several hydropower plants and wind farms being built.
Georgia has a semi-presidential representative democratic republic system of government. The country has a complex political landscape, with a history of corruption and political instability. In recent years, there has been progress in reducing corruption and increasing transparency. Georgia has also been working towards greater integration with the European Union and NATO.
In conclusion, Georgia is a country with a rich history, unique culture, and a growing economy. Its location and strategic importance make it an important player in the region. While there are challenges, such as corruption and political instability, Georgia is making progress towards greater transparency and democracy. Its culture, food, and wine continue to attract visitors from around the world, while its growing economy offers opportunities for investment and development.
Types of companies in Georgia
Limited Liability Company (LLC): This is the most popular form of company registration in Georgia. An LLC is a separate legal entity and the liability of the members is limited to their investment in the company. An LLC requires a minimum of one director and one shareholder, and can have up to 50 shareholders. The minimum share capital required for an LLC is GEL 1.
Joint-Stock Company (JSC): A JSC is a company that issues shares and can be publicly traded. A JSC requires a minimum of two shareholders and a board of directors. The minimum share capital required for a JSC is GEL 50,000.
Branch Office: A foreign company can establish a branch office in Georgia, which is a separate legal entity from the parent company. The branch office must register with the National Agency of Public Registry and obtain a tax ID number. The branch office must also appoint a local representative.
Representative Office: A foreign company can establish a representative office in Georgia, which is not a separate legal entity. A representative office can engage in market research, promotional activities, and other non-commercial activities. The representative office must register with the National Agency of Public Registry and obtain a tax ID number.
Sole Proprietorship: A sole proprietorship is a business owned and operated by one individual. The proprietor is personally liable for all debts and obligations of the business. A sole proprietorship requires registration with the National Agency of Public Registry and obtaining a tax ID number.
Advantages of company registration in Georgia
Ease of Doing Business: Georgia is consistently ranked among the top countries for ease of doing business by the World Bank. The country has simplified its business registration process and streamlined its tax system, making it easy for entrepreneurs to start and run a business.
Strategic Location: Georgia is strategically located between Europe and Asia, making it an ideal location for businesses that want to expand into new markets. The country has excellent transportation links, including a major port on the Black Sea and an international airport.
Low Taxes: Georgia has a low tax regime, with a flat corporate income tax rate of 15% and a simplified tax system. The country also has several tax incentives for businesses, including exemptions on VAT and customs duties for certain industries.
Skilled Workforce: Georgia has a well-educated and skilled workforce, with a strong emphasis on science, technology, engineering, and mathematics (STEM) education. The country also has a growing tech industry and a thriving startup ecosystem.
Access to Free Trade Agreements: Georgia has signed free trade agreements with several countries, including the European Union, China, and the United States. These agreements provide businesses with access to new markets and opportunities for growth.
“Our team can provide assistance if you need help registering a company in Georgia”
What types of companies can be registered in Georgia?
Georgia offers various types of companies to register, including LLC, JSC, sole proprietorship, and branch office.
What is the minimum share capital required for an LLC in Georgia?
The minimum share capital required for an LLC in Georgia is 1 Georgian Lari, which is equivalent to approximately 0.32 US dollars.
Can a foreign company establish a branch office in Georgia?
Yes, a foreign company can establish a branch office in Georgia.
What is the process for registering a company in Georgia?
The process for registering a company in Georgia involves submitting the necessary documents to the Public Service Hall or online, paying the registration fee, and obtaining a certificate of registration.
What are the benefits of registering a company in Georgia?
Benefits of registering a company in Georgia include low taxes, a favorable business environment, access to the European market, and simplified procedures for company registration.
What taxes are businesses subject to in Georgia?
Businesses in Georgia are subject to corporate income tax, value-added tax, and personal income tax.
What is the corporate tax rate in Georgia?
The corporate tax rate in Georgia is a flat rate of 15%.
What is the value-added tax (VAT) rate in Georgia?
The standard VAT rate in Georgia is 18%.
What are the customs duties in Georgia?
Georgia has a relatively low customs duty rate, with most goods subject to a rate of 0%.
What are the registration fees for a company in Georgia?
The registration fee for a company in Georgia depends on the type of company, with LLCs being the most common and costing 100 Georgian Lari (approximately 32 US dollars) to register.
What are the accounting requirements for companies in Georgia?
Companies in Georgia are required to keep accounting records and prepare financial statements in accordance with Georgian accounting standards.
What are the reporting requirements for companies in Georgia?
Companies in Georgia are required to submit an annual tax return and financial statements to the tax authorities.
What are the employment regulations in Georgia?
Employment regulations in Georgia include minimum wage requirements, mandatory social security contributions, and limits on working hours.
What are the labor costs in Georgia?
Labor costs in Georgia are relatively low compared to other European countries, with the average monthly wage in 2022 being approximately 550 US dollars.
What are the legal requirements for hiring employees in Georgia?
Legal requirements for hiring employees in Georgia include signing an employment contract, registering employees with the tax authorities, and providing mandatory benefits such as social security and health insurance.
Can foreigners own a company in Georgia?
Yes, foreigners can own a company in Georgia.
What are the residency requirements for company owners in Georgia?
There are no residency requirements for company owners in Georgia.
How long does it take to register a company in Georgia?
It typically takes 1-3 days to register a company in Georgia.
Can a company be registered online in Georgia?
Yes, companies can be registered online in Georgia through the Public Service Hall’s e-register service.
What documents are required for company registration in Georgia?
The documents required for company registration in Georgia include a charter, memorandum of association, identification documents for shareholders and directors, and proof of payment of the registration fee.
What is the role of a notary in company registration in Georgia?
A notary in Georgia is responsible for verifying the authenticity of signatures and documents related to company registration.
What are the requirements for a company name in Georgia?
A company name in Georgia must be unique and not be similar to any other registered company name. It should also not be offensive or misleading.
Can a company name be in a foreign language in Georgia?
Yes, a company name can be in a foreign language in Georgia. However, the name must be transliterated into the Georgian alphabet for official use.
What are the rules for choosing a company name in Georgia?
The rules for choosing a company name in Georgia are that the name must not be similar to any other registered company name, it should not be misleading, and it should not be offensive.
Can two companies have the same name in Georgia?
No, two companies cannot have the same name in Georgia. The company name must be unique and distinguishable from any other registered company name.
What is the process for changing a company name in Georgia?
To change a company name in Georgia, the company must submit an application to the National Agency of Public Registry (NAPR). The application must include the desired new name, the reason for the name change, and any other required documents.
What is a tax identification number (TIN) in Georgia?
A tax identification number (TIN) in Georgia is a unique identification number assigned to companies and individuals for tax purposes.
How can a company obtain a TIN in Georgia?
A company can obtain a TIN in Georgia by applying to the Revenue Service of the Ministry of Finance. The application must include the company’s registration certificate and other required documents.
What is a certificate of registration in Georgia?
A certificate of registration in Georgia is an official document issued by the National Agency of Public Registry (NAPR) that confirms the registration of a company.
How can a company obtain a certificate of registration in Georgia?
A company can obtain a certificate of registration in Georgia by submitting an application to the National Agency of Public Registry (NAPR) along with the required documents and fees.
What is the National Agency of Public Registry (NAPR) in Georgia?
The National Agency of Public Registry (NAPR) in Georgia is the government agency responsible for registering companies and maintaining the national registry of legal entities.
What is the role of NAPR in company registration in Georgia?
The role of NAPR in company registration in Georgia is to review and approve company registration applications, issue certificates of registration, and maintain the national registry of legal entities.
What is a legal address in Georgia?
A legal address in Georgia is the official address of a company for legal and administrative purposes.
Can a virtual office be used as a legal address in Georgia?
Yes, a virtual office can be used as a legal address in Georgia. However, the company must have a physical address for receiving mail and other official documents.
What is a director in a company in Georgia?
A director in a company in Georgia is a person appointed to manage and oversee the operations of the company.
Can a director be a foreigner in Georgia?
Yes, a director can be a foreigner in Georgia.
What are the requirements for a director in Georgia?
The requirements for a director in Georgia are that the person must be at least 18 years old, not be declared legally incompetent, and not have a criminal record.
What is a shareholder in a company in Georgia?
A shareholder in a company in Georgia is a person or entity that owns a portion of the company’s stock or shares.
Can a shareholder be a foreigner in Georgia?
Yes, a shareholder can be a foreigner in Georgia. There are no restrictions on foreign ownership of companies in Georgia.
What are the requirements for a shareholder in Georgia?
There are no specific requirements for a shareholder in Georgia, but they must comply with the company’s charter and applicable laws.
What is the role of a supervisory board in a company in Georgia?
The supervisory board in a company in Georgia is responsible for overseeing the management of the company and protecting the interests of shareholders.
Can a supervisory board be mandatory for a company in Georgia?
No, a supervisory board is not mandatory for a company in Georgia. It is optional and depends on the company’s structure and charter.
What are the requirements for a supervisory board in Georgia?
If a company chooses to have a supervisory board, the requirements include appointing members who are independent and have the necessary qualifications and experience.
What is a company charter in Georgia?
A company charter in Georgia is a legal document that outlines the company’s structure, purpose, and rules of operation.
What is the content of a company charter in Georgia?
The content of a company charter in Georgia includes the company’s name, legal form, address, purpose, organizational structure, shareholders’ rights and responsibilities, and other relevant information.
What is a power of attorney in Georgia?
A power of attorney in Georgia is a legal document that allows a person or entity to act on behalf of another person or entity in specific matters.
Can a power of attorney be used for company registration in Georgia?
Yes, a power of attorney can be used for company registration in Georgia, and it is often required when the company’s founders or representatives cannot be present in person.
What is the process for obtaining a power of attorney in Georgia?
The process for obtaining a power of attorney in Georgia involves drafting and signing the document in front of a notary public or a relevant government agency.
What are the requirements for signing documents in Georgia?
The requirements for signing documents in Georgia include signing in person or with a legally recognized digital signature and complying with any specific requirements outlined in the relevant laws and regulations.
What is a seal in a company in Georgia?
A seal in a company in Georgia is a stamp or emblem used to authenticate the company’s documents and transactions.
Is a seal mandatory for a company in Georgia?
No, a seal is not mandatory for a company in Georgia. It is optional, and many companies choose not to use one.
What are the requirements for a seal in Georgia?
If a company chooses to use a seal in Georgia, the requirements include registering it with the National Agency of Public Registry and complying with any relevant laws and regulations.
What is a bank account in Georgia?
A bank account in Georgia is a financial account held by a company or individual with a bank or other financial institution.
What are the requirements for opening a bank account in Georgia?
The requirements for opening a bank account in Georgia include providing identification, proof of address, and other relevant information depending on the type of account and the bank’s policies.
Can a foreigner open a bank account in Georgia?
Yes, a foreigner can open a bank account in Georgia, but they must comply with the relevant laws and regulations and provide the required documentation.
What is a corporate card in Georgia?
A corporate card is a payment card that is issued to a company or business entity rather than an individual. In Georgia, corporate cards can be used to make payments and manage expenses on behalf of the company, and can be issued to employees who have been authorized to use them.
What are the requirements for a corporate card in Georgia?
The requirements for a corporate card in Georgia may vary depending on the financial institution that issues the card. Generally, the company or business entity must have a registered legal entity in Georgia, and must provide information about the company’s financial standing and creditworthiness. Additionally, the financial institution may require that the company provide information about the individual employees who will be authorized to use the card.
What is a notarized translation in Georgia?
A notarized translation in Georgia is a translation of a document from one language to another that has been certified by a notary public. The notary public verifies that the translation is accurate and complete, and attaches their official seal to the translation to indicate that it has been certified.
When is a notarized translation required in Georgia?
A notarized translation may be required in Georgia for various purposes, such as when submitting legal or official documents to government agencies, courts, or other entities. It may also be required for academic transcripts or other documents related to education or employment. The specific requirements for notarized translations may vary depending on the entity that requires the document.
Documents required to register a company
- Application for registration
- Company charter
- Identification documents of shareholders and directors (e.g. passport, ID card)
- Address verification documents (e.g. utility bill)
- Proof of payment of registration fee
- Notarized power of attorney (if applicable)
- Declaration of consent to serve as director or shareholder (if applicable)
- Memorandum of Association (if applicable)
Major Banks in Georgia
TBC Bank: TBC Bank is the largest bank in Georgia, with a wide range of products and services for retail and corporate customers. They offer online banking, mobile banking, and a range of credit and debit cards. One of the main benefits of TBC Bank is their extensive ATM network throughout the country.
Bank of Georgia: Bank of Georgia is another major bank in Georgia, offering a range of products and services to both retail and corporate customers. They offer online and mobile banking, as well as credit and debit cards. One of the main benefits of Bank of Georgia is their strong reputation and reliability.
Liberty Bank: Liberty Bank is a popular bank in Georgia, with a range of products and services for both retail and corporate customers. They offer online banking, mobile banking, and a range of credit and debit cards. One of the main benefits of Liberty Bank is their focus on innovation and technology.
ProCredit Bank: ProCredit Bank is a smaller bank in Georgia, focused on providing sustainable banking solutions to small and medium-sized businesses. They offer online banking, mobile banking, and a range of credit and debit cards. One of the main benefits of ProCredit Bank is their commitment to environmental and social responsibility.
Cartu Bank: Cartu Bank is another smaller bank in Georgia, focused on providing simple and accessible banking solutions to their customers. They offer online banking, mobile banking, and a range of credit and debit cards. One of the main benefits of Cartu Bank is their commitment to customer service and support.
The top universities in Georgia
Tbilisi State University
Computer Science, Law, Medicine, Business & Management
Ilia State University
www.iliauni.edu.ge – Business & Management, Social Sciences, Engineering, Computer Science
Georgian Technical University
Engineering, Architecture, Computer Science, Business & Management
Free University of Tbilisi
Law, Business & Management, Computer Science, Social Sciences
Law, Business & Management, Social Sciences, Media Studies
Tbilisi Medical Academy
Georgian American University
Business & Management, Law, Social Sciences
Akaki Tsereteli State University
Business & Management, Engineering, Social Sciences
Batumi Shota Rustaveli State University
Medicine, Tourism, Business & Management
Ivane Javakhishvili Tbilisi State University
Humanities, Social Sciences, Law, Business & Management
“If you need assistance registering for college or university, our team is here to help.”
Strange or unusual to visitors in Georgia
Toasting and drinking: Georgians love toasting, and it is customary to toast for almost any occasion, even during business meetings. The tradition of toasting is deeply ingrained in Georgian culture, and guests are expected to participate. Additionally, it is common to drink wine during meals, even for lunch and breakfast.
Supra: Supra is the traditional Georgian feast, which is essentially a communal meal with a variety of dishes and plenty of wine. It is an essential part of Georgian hospitality, and guests are expected to enjoy the food and drinks and engage in conversation.
Tamada: Tamada is the toastmaster, who is responsible for leading the toasts and keeping the conversation flowing during the supra. It is an important role in Georgian culture, and the tamada is usually selected based on their wit and ability to entertain.
Wine culture: Georgia is one of the oldest wine-producing regions in the world, and wine is an integral part of Georgian culture. Visitors may be surprised to learn that Georgia has over 500 grape varieties and a unique winemaking method using clay pots called qvevri.
Language: Georgian is a unique language with its own alphabet, and it can be challenging for visitors to learn or understand. However, many Georgians speak English, especially in major cities like Tbilisi.
Hospitality: Georgians are known for their hospitality, and visitors may be surprised by the warm welcome they receive from strangers. It is common for Georgians to invite guests into their homes for a meal or to offer them food and drinks on the street.
Traffic: Tbilisi, the capital city of Georgia, has a reputation for chaotic traffic with drivers often honking their horns and ignoring traffic rules. Pedestrians should be careful when crossing the street and should not assume that cars will stop for them.
“Tips for Newcomers: Adjusting to Life in Georgia”
Learn the language: Georgian is the official language of the country, and while many people speak English, it can be helpful to learn some basic Georgian phrases to help you communicate with locals.
Embrace the culture: Georgia is known for its rich culture, delicious food, and warm hospitality. Take the time to explore the country, try traditional Georgian cuisine, and learn about the local customs and traditions.
Connect with the expat community: There are many expats living in Georgia, and connecting with them can be a great way to meet new people and get advice on living in the country. Join expat groups on social media or attend local events to make new friends.
Get to know the transportation system: Georgia has an extensive public transportation system, including buses, minibusses, and trains. Take some time to learn the routes and schedules to make getting around easier.
Be prepared for bureaucracy: Like many countries, Georgia has a lot of bureaucracy, and paperwork can be time-consuming and frustrating. Be patient and prepared to navigate the bureaucracy, and consider hiring a local lawyer to help you with legal issues.
Stay safe: While Georgia is generally a safe country, it’s important to take precautions to stay safe. Avoid walking alone at night in unfamiliar areas, be aware of your surroundings, and keep your valuables secure.
Enjoy the outdoors: Georgia is known for its stunning natural beauty, from the Caucasus Mountains to the Black Sea coast. Take advantage of the many opportunities for outdoor activities, such as hiking, skiing, and swimming.
Top recruitment agencies in Georgia
Manpower Georgia: https://www.manpower.ge/
Smart Solutions: http://smartsolutions.ge/
HR Solutions Georgia: https://hrsolutions.ge/
Kelly Services Georgia: https://www.kellyservices.ge/
Georgian Employment Agency: https://www.ea.gov.ge/
National Employment Center: https://www.nec.gov.ge/
Elite Solutions Georgia: https://elitesolutions.ge/
Necessary phone numbers in Georgia
Emergency Services (Police, Fire, Ambulance): 112
Georgia Tourism Information Center: 0322 940 999
Tbilisi International Airport: +995 32 310 265
Georgian Railway: +995 32 219 7070
Ministry of Internal Affairs: 2 42 96 99
Ministry of Foreign Affairs: 2 94 50 00
National Tourism Administration: 2 43 69 99
Georgian Red Cross Society: +995 32 236 38 85
Georgian Mountain Resorts Development Company: +995 32 243 10 01
Georgian National Film Center: +995 32 236 30 36
The best way to immigrate to Georgia
Investment: One of the easiest ways to immigrate to Georgia is through an investment program, which requires applicants to make a significant financial investment in the country.
Employment: Another way to immigrate to Georgia is through employment. If you are able to secure a job offer in Georgia, your employer can sponsor your work visa.
Education: Students can also immigrate to Georgia by applying to universities and obtaining a student visa.
Family reunification: If you have a Georgian spouse or family member, you can apply for a family reunification visa.
Residency by purchase: Foreigners can obtain permanent residency in Georgia by purchasing property worth at least $100,000 in the country.
International Language Centre in Georgia
- International Language Center (ILC) – https://ilc.ge/en/
- British Council Georgia – https://www.britishcouncil.ge/en/english
- American Councils for International Education Georgia – https://www.americancouncils.ge/en/language-programs
- ILC is a private language center in Tbilisi that offers language courses for English, Georgian, German, French, Italian, Spanish, and Russian. They offer a variety of courses, including general language courses, exam preparation courses, business courses, and online courses. ILC also provides translation and interpreting services.
- British Council Georgia is a branch of the British Council, a cultural and educational organization that promotes the English language and British culture worldwide. They offer English language courses for all levels, as well as teacher training courses and exams such as IELTS and Cambridge English.
- American Councils for International Education Georgia is an organization that promotes cross-cultural understanding through educational and professional exchange programs. They offer language courses in English, Russian, Georgian, and other languages, as well as study abroad and exchange programs.