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.
The main difference between LLC and other forms is that such companies are limited by the property of a legal entity and have to pay taxes, but there are also several advantages:
- It is possible to open a company and a bank account without being in the country;
- Very fast registration - maximum 2 days from receiving all documents;
- The state does not require any document confirming the size or existence of the share capital;
- Only distributed profits are taxable.
How to register a LLC in Georgia
LLC registration in Georgia for foreigners almost has no difference from registration for citizens of the country. If you want to speed up the process, you will have to pay GEL 210 to complete the registration on the day of filing, instead of the standard state duty of GEL 110. After passing all stages in the House of Justice you will be given an identification number.To register a company, an individual needs a personal presence at the time of registration and a passport. There is another procedure for those who cannot be present in Georgia. You can register the company remotely by sending a package of necessary documents, which are certified by a notary and an apostille, by express mail.As we have written before, no documents indicating the size or presence of the authorized capital is necessary. Founding partners have the right to determine the amount of the authorized capital on their own.
To register a legal entity, you need to provide 5 basic documents:
- Application (it’ll be filled out at the House of Justice in the presence of an interpreter, if you do not speak Georgian yourself);
- Legal address certified by a notary;
- Company Charter, signed by each of the partners (in Georgian and English);
- State duty payment receipt.
After the registration you will need to go to the tax office and get the data for access to the personal cabinet of the taxpayer. Then apply to the bank to open a current account. From now on you can consider that you have successfully registered an LLC in Georgia and you only have to start keeping correct accounting.
If you have any questions or difficulties while registering your company on your own we will gladly answer all your questions and give you a free consultation. Leave an application and we will definitely contact you.