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© 2017 Vesti.ge LLC. All rights reserved.
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Welcome to Vesti.ge

 

Welcome to Vesti.ge

 

Why incorporate in the Republic of Georgia?

 
  • No profit tax (tech exports) — source see FAQ.
  • No sales tax (tech exports) — source see FAQ.
  • No social insurance or other labor taxessource.
  • No tax on foreign source income for residents — source 82.1U.
  • No wealth or inheritance taxsource.
  • No dividends tax (FIZ) — source 130.7.
  • No propery tax (FIZ) — source 9.5.
  • No import tax (FIZ) — source 9.6.
  • Double taxation treaties with 54 countriessource.
 
  • Low personal income tax 20%source.
  • Personal income tax is simple to calculate (flat 20%) and paid onlinesource.
  • Company has no paperwork on personal income tax (FIZ) — source 9.8.
 
  • 106 countries' citizens can live and work in Georgia perpetuallysource.
  • 106 countries' citizens can arrive with no paperworksource.
  • No minimum wagesource.
  • 13th best IQ (out of 43)source.
  • 60% of young people speak Englishsource.
  • Flexible labor laws — source p. 177.
  • Employment agreements can be done in English language — source 6.2.
  • Employment agreements optional for less than 4 year old companies — source 6.1.2.
  • Low labor cost. Avg. USD $ 464 per month (Tbilisi)source.
  • 6 Month probationary employment allowed — source p. 13.
 
  • Banks registered on London Stock Exchange — sources BOG & TBC.
  • No foreign exchange or capital controlssource.
  • No restrictions on capital repatriationsource.
  • Next day bank account opening (receive personalized debit card the next day).
  • No minimum deposit required on business bank account.
  • Most banks offer multi-currency accounts in GEL, USD, and EUR.
  • Can transact in USD or any other currency (FIZ 8.2)source.
 
  • No end of year audit required if sales under USD $ 8Msource.
  • Annual financials can be prepared by non-CPAs if sales under USD $ 8Msource.
  • Annual financials are filed online — source p. 10.
  • Either cash or accrual accounting can be used — source p. 26.
  • Accelerate depreciation on capital assets to 100% on 1st yearsource.
  • Statute of limitation of 6 years — source p. 18.
 
  • 100% foreign company ownership allowed — source p. 12.
  • No minimum capital requirement — source p. 17.
  • No maximum limit on shareholders — source 51.3.
  • Can register company by overseas applicant without physical presence.
  • Next day company registrationsource.
  • Only USD $ 2 fee to add a shareholder to the registry.
  • Shares can be of different classes (JSC) — source 52.1.
  • No initial capital deposit required on register company — source 51.1.
  • A company can be registered with a single shareholder — source 51.1.
  • A board of directors is optional for non-public companies — source 55.1.
 
  • 3rd best "procedures to start a business" (out of 140) — source p. 177.
  • 7th best "Burden of govt. regs." (out of 140) — source p. 177.
  • 8th safest for crime (out of 110)source.
  • 9th best "Total tax rate, % profits" (out of 140) — source p. 177.
  • 13th best "economic freedom" (out of 178)source.
  • 16th best "ease of doing business" (out of 190)source.
  • Low corruptionsource.
 
  • Enterprise re-domiciling is allowed (both in and out) — source 5.7.1.
  • Investors can have contracts governed by law of country of their choice, including ICSID — source p. 8.
  • Can be invested in by AngelList syndicate (is not PFIC or CFC)source.
 
  • Good weather. Warm for 8 monthssource.
  • 84% Eastern Orthodox Christiansource.
  • There are no restrictions on imports into Georgia — source p. 14.
  • Electricity is USD 8c kwh (35% cheaper than the U.S.)source.
  • No sales tax or duty on overseas purchases under USD $ 120source

© 2017 Vesti.ge LLC. All rights reserved. www.vesti.ge/