How to arrive in Georgia in 2021
* The article is regularly updated
Georgia opened its air borders on February 1, 2021, and restored regular international air traffic. The government has eased tough curfew rules (from July 1, 2020, you can go outside at night), and almost all tourist attractions and organizations work all week. Land borders have been open since June 1. The flow of foreign visitors increased by 180% compared to last year. We have collected for you all the relevant information on how to get to Georgia in 2021. We will tell you in detail what needs to be done in order not to violate regulations and not pay fines.
How to get Georgian citizenship
The passport of a citizen of Georgia is in the 36th place in the world according to data for 2021 and opens the borders of 116 countries where you can enter without a visa. Among the states that are friendly towards the citizens of Georgia are the EU countries and almost all the CIS countries, Turkey and Iran. Georgia for obtaining a 2nd citizenship and moving is considered not only by immigrants from the post-Soviet region but also by residents of Europe and America. In this article, we will explain the main advantages of a Georgian passport and how to obtain Georgian citizenship.
Certificate from a non-resident of Georgia to avoid double taxation
Nobody wants to pay high taxes, much less twice. If you are a non-resident of the country and receive income in Georgia, it may happen that you will need to pay taxes here and in the country of residence. To prevent this from happening, there is an agreement between the countries aimed at avoiding double taxation. Georgia has signed relevant international treaties with more than 50 states. Read this article to find out what will help to confirm your preferential status, and how to correctly draw up a certificate from a non-resident of Georgia to avoid double taxation.
How taxes are paid in Georgia
After seceding from the USSR, Georgia is one of the few post-Soviet countries that has chosen a strategy of tax cuts to develop business and attract foreign investment. The transparency of registration procedures, a minimum of corruption, and bureaucracy add to Georgia’s positive points. The 2005 reforms in Georgia reduced the total number of taxes from 21 to 6. Tax rates and income tax in Georgia decreased significantly, and as a result, in the Paying Taxes report on the ease of paying taxes for December 2020, the country took 14th place among 190 participants. But in order to successfully conduct your business in Georgia, you need to be well versed in taxation, be able to use the taxpayer’s electronic office, and fill out declarations correctly. In this article, we will tell you in full detail about how taxes are paid in Georgia.
“Invest in Georgia” success stories
Georgia is a country that is open to any foreign investment and encourages investors in every possible way. Laws and government create a comfortable environment for foreign investment earnings. The main driving force for attracting foreign investment is the investment department of Enterprise Georgia. They are directly involved in attracting, promoting, and developing foreign direct investment in Georgia. Invest in Georgia are moderators between foreign investors and the government of the country. In this article, we will look at the main “Invest in Georgia” success stories.
11 advantages of registering a company in Georgia in 2021
The main task of successful entrepreneurs is to increase the efficiency of their business. For this, standard measures within one country are not always sufficient. To optimize taxation and place your company in a pleasant investment environment, you can choose another jurisdiction with a good reputation. For the last 5 years, among the most promising countries for business, Georgia has been holding leading positions in all world ratings of ease of doing business. In addition, Georgia does not participate in the automatic exchange of tax information according to the CRS standard, and after confirmation of substance, a non-resident can easily open an account with a local bank. What other 11 advantages of registering a company in Georgia in 2021 are, we will tell in this article.
Filling out the Sakstat questionnaire for non-resident entrepreneurs in Georgia
To collect information on foreign entrepreneurs, the National Statistical Office of Georgia selectively sends a notification about the need to fill out a questionnaire. This information is necessary for the Georgian government to calculate statistics, including on foreign investments and analysis of data on companies with foreign founders, contacts, contractors, and clients. In this article, we will look at how the Sakstat questionnaire is filled out for non-resident entrepreneurs in Georgia.
Who is the beneficiary in Georgian legislation?
A citizen of any country can become a beneficiary of a Georgian company. But it is more difficult for foreign-owned companies to get a corporate bank account in Georgia. In addition, it is important to understand the specifics of paying taxes using international agreements on the avoidance of double taxation in relation to the beneficiary and his country of residence. In this article, we will take a closer look at who the beneficiary is in Georgian legislation and explain the basic concepts associated with this status.
How to prove Substance in Georgia to work with Georgian banks
Until 2023, Georgia has not yet signed an agreement on the continuous and automatic exchange of data on clients of tax authorities from other jurisdictions under the CRS protocol. Therefore, many entrepreneurs are considering this country for opening a corporate account and doing business. In addition, in Georgia, in addition to the high level of confidentiality of banking operations, there are legal ways to reduce the tax burden. This interest could not have been overlooked by banking structures and the conditions for opening accounts for non-residents have become more stringent. In this article, we will analyze in detail the question of how to prove Substance in Georgia in order to work with Georgian banks.
What kind of business to do in Georgia for non-residents in 2021
In the CIS, everything is complicated with medium and small businesses. An unstable political regime, constant checks, corruption – all this significantly spoils the life of novice businessmen. In Europe, taxes are such that it is risky to start a business without huge start-up capital. Exactly between Europe and Asia, there is a country with loyal taxes and a comfortable business environment – Georgia. The Georgian government, despite its post-Soviet past and difficult present, does its best to create better conditions for small and medium-sized businesses. It is easy to start and run a business in the country, including non-residents. At the same time, it is important to understand that Georgia is interested not only in itself, it is also an excellent entry point to promising markets in Asia and Europe. In this article, we will look at why Georgia is a promising country for entrepreneurs and what kind of business to do in Georgia for non-residents in 2021.