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Incorporate in Georgia
$1,950.00
Establishing a company in Georgia
Georgia is located in a strategic area bordering Asia and Europe, with a developed infrastructure. It is an important distribution hub between both continents, and also has trading relationships with practically all countries, including the European Union, United States, China, and Turkey. It is part of the World Trade Organization, has free trade agreements with the EU and the EFTA countries, Russia, and other countries of Eastern and Central Europe. This provides access to a market of 900 million people without any duty tariff restriction, and a system of generalized preference with US, Canada, Japan, Norway, and Switzerland. In addition, Georgia has signed bilateral investment agreements with 32 countries.
Georgia offers a business-friendly environment that has made it an appealing destination for foreign investors looking to establish limited liability companies (LLCs). Its simplified regulatory processes, and innovative corporate tax system provide flexibility and efficiency, particularly for companies focused on reinvestment and long-term growth.
Georgia imposes no restrictions on foreign ownership or management. LLCs can be fully owned and operated by non-residents. There is no legal requirement for Georgian resident directors or shareholders, and no minimum or maximum capital is mandated, giving founders discretion over capital contributions based on business needs. This level of flexibility allows international entrepreneurs to set up and run companies efficiently without relying on local nominees or partners.
A key feature of Georgia’s tax system is its retained earnings exemption model. Companies are not taxed on profits as they are earned; instead, corporate income tax is only applied when profits are distributed to shareholders. This allows businesses to retain and reinvest earnings without an immediate tax burden, making the jurisdiction attractive for growth-oriented enterprises.
When profits are distributed a 15% corporate income tax is applied. However, An additional 5% withholding tax (WHT) may be levied on dividends paid to non-residents, depending on the terms of an applicable Double Taxation Treaty (DTT).
This deferred taxation model, combined with Georgia’s DTT network, makes the country an efficient base for cross-border structures.
All Georgian LLCs are required to maintain accounting records in line with Georgian standards and submit annual financial statements by October 1 of the year following the reporting period.
An independent audit is required if the company meets two of the following thresholds: Total assets exceed GEL 10 million (approx. USD 3 million); and/or Annual revenues exceed GEL 20 million (approx. USD 6 million); and/or Average number of employees exceeds 50.
Companies that meet these thresholds must also file an annual management report, which includes a summary of operations, financial outcomes, and governance practices.
Georgia uses an event-based tax reporting system rather than fixed monthly or quarterly filing deadlines. Tax declarations are required only when specific taxable activities occur, including: Payment of salaries to Georgian tax residents (with personal income tax withholding), Distribution of dividends, Payments of interest and royalties, Payments for services provided by non-residents in Georgia, and VAT-liable transactions. Tax returns must be filed by the 15th of the month following the taxable event. This system reduces administrative burdens for companies with limited or irregular taxable activities.
Georgia stands out as a modern and tax-efficient jurisdiction for forming LLCs. Its deferred profit taxation, straightforward compliance obligations, and absence of residency or capital requirements create a highly accessible and attractive option for both operating and holding companies. Combined with its adherence to international accounting standards and a pro-business regulatory climate, Georgia is well-positioned to support foreign investment and entrepreneurial venture
Learn more about incorporating a company in Georgia:
Georgia Limited Liability Company (LLC) Formation and First-Year Corporate Services – USD 1,950.00 (All included) (Remote company setup)
Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Georgian LLC, and keep it in good standing with the LEPL, as well as government fees and duties, disbursements such as notarial and courier fees.
- Preparing Limited Power of Attorney to incorporate the company on behalf of the Client
- Preparing Certified Translation and Notarization of the Power of Attorney
- All Applicable Notarial Fees
- All Applicable Registration and Government Fees (Registry of Entrepreneurs and Non-Entrepreneurial (Non-Commercial) Legal Entities, National Agency of Public Registry)
- Preparing and Executing English and Georgian version of the Company Charter
- Filing Company Charter (Articles of Association) with the Registry
- Providing Company Extract from the Public Registry, in both English and Georgian languages
- Registering the Company with the Revenue Service Agency
- Providing Registered Office Services, including business address, for one year
- Preparing Certified Copies of Corporate Documents
- Delivering Certified Copies of Corporate Documents via Courier, inclusive of Courier Fees
Time to Form the Company
To incorporate a company in Georgia without visiting in person, the shareholders will need to authorize our Georgian representative to represent them via a power of attorney, which we prepare in the same day we receive the proposed company information.
If the shareholders are individuals, each must sign the Limited Power of Attorney that we will provide before a notary in their country of residence, and attach a passport copy. The documents will need to be apostilled and sent to Georgia by post. If the shareholder is a company, board resolutions authorizing the incorporation and appointing an officer as the company’s representative are required, along with a notarized and apostilled power of attorney, a notarized and apostilled registry extract and a notarized and apostilled passport copy of the officer representing the company.
Once the apostilled documents arrive in Georgia, they are translated and notarized locally in Georgia and thereafter submitted for registration to the Registry. The full process typically takes about 1-2 weeks after receiving the documents.
Georgia Bank Account – USD 700.00 (Remotely via Power Of Attorney)
We primarily work with TBC Bank and Bank of Georgia, although we can open accounts in any other Georgian bank. All banks provide for debit/credit cards.
In order to open the bank account remotely, we will need another limited power of attorney for carrying on this procedure on behalf of the directors. The power of attorney for the bank account needs to be issued by the directors in their capacity as directors of the company (as opposed to the Power of Attorney for incorporating the company, which shall be issued as the subscriber(s) of the company), and therefore, we cannot use the same power of attorney than for forming the company (at the time the PoA for incorporating the company is issued, the company still does not exist).
Annual Corporate Services – USD 1,600.00 (payable one year after incorporation, and annually thereafter)
- Providing Registered Office Services, including business address, for one year
- Preparing and filing Financial Statements in Georgian language (based on management report and accounting records provided by the client)
- Annual Report Filing Fees and related disbursements
For preparing and submitting tax declarations, our fee is USD 150 per declaration.
Other Services (Optional)
- Application for Virtual Zone Status, and related tax exemptions
- Full Accounting and Book-keeping Services
- Assistance with obtaining Residence Permits
Please, contact us for further information.