According to the Knight Frank Active Capital 2020 study, it is predicted that in 2021 the focus of investors will be on capital flows to the countries of refuge, as well as to the “nearest neighbors”, where potential operational barriers are lower and the risks are more understandable. Among such specific jurisdictions, Georgia for business in 2021 may become an ideal “quiet bay” for creating a new direction or relocating its activities.
For a business that you opened in Georgia, it is important to have a bank account in the country. But there is a risk that the bank may refuse to open you without explaining the reasons and this will be absolutely legal, spelled out in the internal policy of the financial institution. Based on our practice, we have collected the main reasons for closing bank accounts in Georgia and other countries, as well as recommendations for working with Georgian banks.
As we wrote in the review article about banks – Georgia is more often seen as a country to store money. This is due to stricter rules for servicing non-residents by banks of the Baltic coast countries.
The Government of Georgia is taking active measures to attract foreign investments in promising business areas. This is done in order to accelerate economic growth, increase exports, and reduce vulnerability to external factors. That is why Georgia is now known not only as of the most popular tourist destination but also as a country for profitable investments. Why investors choose Georgia will be explained in more detail in this article.
The government has simplified the procedure of business registration for foreigners in Georgia and eliminated the risks associated with currency control, transaction passports and other corporate procedures, which is why a large number of entrepreneurs from all over the world are increasingly considering the country as a place where they can move an existing business or start from scratch to get nice bonuses in the form of asset protection and reducing the tax burden on business.
Remote business registration in Georgia is attractive for entrepreneurs because there is a low level of taxation, no corruption, and few bureaucratic procedures. Today, the degree of economic freedom and tax administration makes Georgia one of the most attractive countries for business in Europe.
LLC is the most popular form among legal entities in Georgia, 98% of all opened companies and enterprises are limited liability companies. In other words, this form is called LLC and SPS. In this article, we will look at how is going LLC registration in Georgia.
After carrying out radical reforms, a new history of development began in Georgia. From year to year, this rapidly developing country is rising higher and higher in various world rankings. That‘s why start your business in Georgia is so simple.
Georgia is one of the most popular tourist destinations in recent years, with more than 8 million visitors from the beginning of 2019 to October, and an exponential growth rate of 6.8% in 2019 compared to the same period in 2018. That’s why opening a tourist company in Georgia is an excellent solution.
Over the past few years, free industrial zones in Georgia have been a promising destination for businessmen from the CIS and Europe. One of the factors of such interest is undoubtedly a loyal tax policy. In addition, foreign direct investment in Georgia’s FIZs attracts a convenient location between Europe and Asia, direct access to sea routes, developed infrastructure, and low operating costs.