Company registration in Georgia

Company registration in Georgia is one of the most common methods of investing and obtaining residency in this country. In recent years, Georgia has had the highest economic growth among the countries in the region, and the World Bank has assigned Georgia the sixth rank in the world in terms of the best investment opportunities. On the other hand, this country ranks third in the world in terms of ease of starting a business and ranks 12th in the world in terms of free trade. The country of Georgia has attracted the attention of investors and global businesses due to its international political and commercial relations and proper socio-economic security and the good behavior of the Georgian people towards foreigners, and this has caused an increase in the number of company registration in Georgia.

To carry out economic activities in Georgia, company registration is required, and more than 90% of economic activities are done with company registration. You can see company registration licenses anywhere in the country; even in small shops in the city. In the process of company registration in Georgia, 100% business ownership is possible for foreigners, and you do not need native (Georgian) people to join your business. The most popular type of company in Georgia is the limited liability company, and at the end a short explanation will be given about other types of companies.

After visiting the SisnoGroup office for a free consultation, you can prepare the company’s articles of association and chart with your lawyer and complete the relevant forms. Shareholders must send their passports to official translation offices to be translated into Georgian. Then go to the Public Utilities Office with the prepared documents and accompanied by a lawyer, and after receiving the appointment, sign the documents and submit the request to the Public Utilities Office. Finally, you will pay government fees related to company registration in Georgia.

After the license of company registration in Georgia is prepared, you can register the subject of the company’s activities in the form of special codes approved by the tax department. Then go to the Tax Office and get the tax code of the company. At this stage too, experts will accompany you and it will take less than half a day. The next step is coordination to establish a tax consultation meeting. You can arrange a free consultation session with a certified Georgian accountant to get information about taxes. After this meeting, you can hire an official accountant and receive your tax machine.

If you want to register your company in Georgia, it will be enough to pay only $480 on the same working day and $400 on the next working day, which includes the entire work, including government fees. Please note that registering a company in Georgia is not complicated, but there are some points that are very important to follow. In order to avoid financial frauds and gain your confidence, it is recommended not to trust people seeking profit. SisnoGroup’s legal department, using experienced lawyers in legal affairs, performs all matters related to company registration, which includes the following:

Company registration in Georgia with limited liability or LLC (Limited Liability Company)

If you are looking for company registration in Georgia, you should know that more than 95% of companies in this country are in the form of limited liability. To register this type of company, you need at least one shareholder, who can also be the CEO of the company. Due to the fact that the difference between the types of companies is in financing and how to respond to obligations, company registration in Georgia of a limited liability is the most popular type of company registration in this country. In this type of company, the CEO can only use the assets of the shareholders in the company if he needs to answer the obligation or debt, and the shareholders do not have to use their personal assets to pay them.

Company registration in Georgia as an individual entrepreneur or IE (Individual Entrepreneur)

If you register as an individual entrepreneur or IE in Georgia, you will not need to pay any fee or contract to transfer to another person. For example, if you are an accountant who performs official accounting activities for one or more companies and receives a salary, in this case you will be registered as a personal entrepreneur. But if you want to transfer part of your work to others and give them rights, you will need to register the company.

Company registration in Georgia with limited partnership or LP (Limited Partnership)

To register a company in Georgia as a limited partnership or LP, shareholders are divided into 2 categories; it means full shareholders and limited shareholders. Every company must have at least one full shareholder to register. In this type of company, the full shareholders are responsible for the company’s obligations, in addition to the company’s assets, from their personal assets. But limited shareholders are liable for obligations only from their assets in the company. Difference between these 2 categories of shareholders is in dealing with obligations.

Company registration in Georgia as JSC (Joint Stock Company)

In Georgia, registering a joint-stock company or JSC, which is a large joint-stock company with high capital and traded on the stock exchange, is very difficult, especially for a start-up company. Shareholders in this type of company are only liable for the assets of the company and their liability is not limited to their personal assets.

Company registration in Georgia as a general partnership or GP (General Partnership)

To register a company in Georgia, you can use the type of general partnership or GP, which stands for General Partnership. In this type of company, shareholders are responsible for the company’s obligations, such as in a limited liability company (LLC), but with the difference that in addition to the company’s assets, personal assets must also be pledged to meet the obligations.

Company registration in Georgia of a cooperative group

In a cooperative group, people gather together with common goals and interests and participate in doing work. For example, there is a group of people who own land and want to find a developer for their land who will build a part for them and keep the rest for themselves. This type of company registration is called a cooperative group.