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With the emergence of free industrial zones, Georgia began to have a unique advantage – businessmen from all over the world began to view the country as a legal offshore. By registering their company in one of the three FIZ of Georgia – in Tbilisi, Kutaisi, or Poti – companies can legally be exempted from taxes.
In addition to this, Georgia’s strategically advantageous location between Asia and Europe, unhindered access to sea routes, convenient transport infrastructure, loyal pricing of operating costs make Georgia one of the most competitive jurisdictions in Eurasia, and in some aspects, the whole world.
In 2007, the Georgian government made a decision to create Free Industrial Zones in Georgia in order to attract more foreign investors and thereby ensure the development of all spheres of business. For this, certain areas of the territory were allocated where entrepreneurs from any country can register their company and receive favorable tax rates – 0% on basic taxes, 20% on wages, and 4% in the case of export or import. In addition, free trade agreements with numerous countries allow all registered companies to enter the world market duty-free. Thus, all the conditions were created to raise the country’s investment attractiveness rating.
The first and most important advantage of FIZ is the almost complete exemption from taxes, which is why they are called tax-free zones. Both Georgian citizens and foreign nationals can register a company on equal terms and take advantage of all the benefits, citizenship does not actually play any role. In addition, individuals and legal entities are not limited in any way by the form of ownership and organizational and legal structure.
An interesting point is a fact that even if your main company is not located on the territory of one of the free industrial zones of Georgia, then simply by registering your representative office there, you can conduct business in a tax-free zone.
Practically any activity can be carried out on the territory of FIZ most of the companies registered in the tax-free zone were engaged in storage, logistics, and production. The ban applies only to those activities that are limited by Georgian laws, namely:
Almost complete tax exemption is not all the benefits you can get, here is a detailed list of all the benefits and prospects:
By registering your company in one of the three free industrial zones of Georgia, you get the opportunity to practically not pay taxes, while information about this will remain hidden from the tax service of your country. In fact, your expenses will consist only of paying for a license every year for the right to use the status of a resident of a free industrial zone of Georgia.
If you want to register your company in the free industrial zone of Georgia, then first you will need to choose one of the three available ones. They are located in the two largest cities of the country, Tbilisi, Kutaisi, as well as in the port city of Poti.
Free Industrial Zone Poti – located in the port city of Poti. The total area is 300 hectares, which makes this zone the largest in the country. In addition, there is direct access to the railway (you can unload wagons without road transport) and the largest list of licenses and opportunities for investors.
Free industrial zone Hualing Kutaisi – 36 hectares in the second-largest city in Georgia. All infrastructures for transportation are located close enough: the international airport is 19 km away, the seaport of Poti is 95 km away and the highway connecting the company with Tbilisi.
The free industrial zone of Tbilisi covers an area of 170,000 square meters. It appeared in 2015 and consists of virtual office locations and 28 industrial, vacant land plots that are designed to meet the requirements of tenant companies.
Now in more detail about each of the types of licenses, which are provided by three free industrial zones (Poti, Kutaisi and Tbilisi):
Here are some examples that will make it easier for you to understand what kind of license you need. If your company is an agent in trade, provides a service for finding buyers for a food production plant in Russia, CIS countries, Europe, you can safely apply for a service (service) license.
If you purchase equipment in China, a line of products, and sell at your own margin in any country in the world – your option is a trade license with an unlimited type of product. If you, for example, trade in food products – from meat to vegetables and fruits – this is a trade special license.
It turns out that by issuing just one annual license, your company absolutely legally becomes a legal entity exempted from taxes.
You can open a company in any of the FIZ of Georgia remotely and in the shortest possible time:
The cost of remote registration of a company in FIZ starts from $ 1000, with a personal presence from $ 800. This amount is paid as a one-time payment, subsequently the company pays only for the annual license.
From the moment of the official assignment of the FIZ resident status, you can officially conduct business in a tax-free zone and withdraw dividends (profit) in unlimited quantities.
The list of documents for registering a company in the tax-free zone of Georgia and opening a bank account, depending on the founders:
It is important to know that all procedures for registering a company in FIZ can be carried out remotely.