Registration of an IT company in Tbilisi or another city in Georgia is a simple and quick process. And the benefits provided by the state make the country attractive for entrepreneurs from all over the world. In fact, after receiving Georgian virtual zone status, your company will be completely exempt from VAT and income tax.
A resident of the virtual zone pays only:
- 5% tax on withdrawn dividends
- income tax in case of payment of salaries
This tax regime is very convenient for those developers of IT products who cooperate with various international clients and customers who are located in different parts of the world. At the same time, the registration of an IT company in Georgia is in demand because there is no need to obtain permits and a license to operate.
In 2021 Tax Administration of Georgia has made adjustments to the interpretation of the Article on activities in the Virtual zone and among the mandatory requirements for compliance with the status of the Virtual Zone ‒ the subsistence (presence) on the territory of the country namely: administrative expenses, for example, renting an office in which employees of the company work, or the presence of specialists from among the citizens of Georgia on the staff.