Company registration in Georgia
Company registration in Georgia
Georgia has had the highest economic growth in the region in the past few years, ranking sixth in the world for the best investment opportunities in the World Bank's view, as well as Georgia's third largest in terms of ease of doing business and twelfth in trade. It has a free world and due to the good conditions of this country in international political, trade relations as well as extremely high social and economic security along with the good treatment of its people with foreign nationals, the attention of many investors and those interested in launching businesses.
Types of investment methods in Georgia
More than 90 percent of economic activity in the country requires company registration. You can get company registration licenses anywhere in the country, even small cities. Business ownership in Georgia is 100% for foreigners, and you do not need to have a Georgian to be a member of your business. Since the most popular type of company in Georgia is a limited liability company, first we will introduce it in full and at the end we will give a brief explanation about other companies.
Company registration process
After visiting the Sisno Group office, they will set up a free consultation with our lawyers to get the company's articles of association and chart and complete the relevant forms, and at the same time your passports will be sent to the official translation offices to be translated into Georgian. After preparing the documents and completing the forms, which take about half a day, we go to the Public Services Department with the lawyer, and after taking our turn, we sign the application documents in front of the operators of the Public Services Department. Then we pay the government fees related to the registration of the company. preparing the company's license will take 24 working hours, after that the first thing to do is to go to the tax office to receive the tax code for the company, and at this stage, our experts will accompany you, and this will take less than half a day. The next step is tax advice. When you plan to activate your company, a free consultation will be arranged with a reputable Georgian official accountant, after which you can hire an official accountant and receive the tax system and tax report machine (aparat).
Limited Liability Company (LLC):
In Georgia, more than 95% of companies are of this type, and you need at least one shareholder to register the company, who can also be the CEO. Given that the difference between the types of companies in the place of supply and how to meet the obligations, the registration of a limited liability company in Georgia is the most popular company registration in this country because the CEO of the company, if necessary, to meet the obligation or debt, Only the shareholders' assets in the company are allowed to withdraw, and the shareholders have no obligation to pay from their personal property.
Documents required for limited liability company registration in Georgia:
- 1
The presence of shareholders with the original passport
- 2
Official translation of passport for shareholders' in Georgian language (done in Georgia)
- 3
Formulation of the company's official articles of association in Georgian and English languages (regulated by Sisno Group lawyers)
How much does it cost to register a company in Georgia and what services does it include?
The legal department of Sisno Group, with the help of experienced lawyers in legal affairs, does all the work related to the registration of the company with only 300 US dollars, which includes the following:
- 1
Business startup consultation
- 2
Set up a formal statute
- 3
Carrying out matters related to company registration in the Public Services Department
- 4
Registration with the tax office and obtaining a tax code
- 5
Introduce to the accountant to receive free tax advice
- 6
Consulting and accompanying in receiving the tax machine (aparat)
- 7
Pay all government expenses
Brief description of the types of companies in Georgia:
Individual Entrepreneur:
In this case, which is related to the activities of the real person, there is no payment of salary or contract to transfer to another person. For example, an accountant who does official accounting for one or more companies can do this if he does all the work himself and receives a salary for it, but if the same accountant wants to do some of his work to other people. Transfer and pay them must register the company.
Limited Partnership
: Limited partnership means that in this company the shareholders are divided into two categories of so-called full shareholders and limited shareholders, and the company must have at least one full shareholder to register. As I explained earlier, the main difference between companies is in dealing with liabilities. In this type of company, the full shareholder is liable for the company's liabilities in addition to the company's assets from his personal assets, but the limited shareholder is only liable for his liabilities. The company is responsible.
3. Joint Stock Company:
This company, which is very difficult to register at first for a start-up group, is a large company with high capital, which is generally listed on the stock market and is the responsibility of shareholders in. It is only with the company's assets.
General Partnership (GP):
is exactly the same as LLC, except that shareholders are liable for personal liabilities in addition to the company's assets.
5. Cooperative group:
This group, which is not considered a company, is basically a group of people who have come together to do a job and a goal. For example, there is a group of people who own a land and want to find a builder for their land who will build a part for them and keep the rest for themselves. This group is called cooperation.
Brand registration in Georgia
People who want to do business professionally usually have one of the concerns of registering the brand they are working with. Even some people do not start their activity before registering a brand because it is a very important issue.They know it.
Brand registration in Georgia is also subject to international law.
What are the requirements for brand registration?
The only condition for registering a brand in Georgia is that the registrar be a legal entity (company) or a natural person residing in Georgia. That is, if you intend to register a brand in the name of a natural person, that person must reside in Georgia, otherwise the applicant must be a legal entity (company). If you have any questions after reading this text, Sisno Group legal experts will be by your side for a free consultation.
Since brand registration is a very specialized topic, it is preferable to consult with experienced lawyers of sisno group through telephone or face-to-face counseling, but here we will talk briefly about the duration, conditions and cost. First of all, it is better to open the issue that there are 20 general branches of activity for brand registration, that is, you can choose one or more of your desired 20 branches. Brand registration takes 10 working days, and the cost of registering a brand in a branch is $ 1,200, and $ 500 is added to each issue.
FAQ about registering a company in Georgia:
1 Should we pay taxes immediately after we register the company?
No, you only have to pay taxes when your company has started operating.
2To register a company, do you need to rent or buy an office or shop and then register the company at that address?
No, if you have not yet found an address for yourself, you can use the ready-made addresses called legal address available, which will be given to you in a very small amount, and then you can change your location.
3 If the company does not operate, will it be subject to a fine?
No, not at all.
4 Should choosing a name for a company be unique?
No, in this country, the principle of uniqueness is based on the company's registration code, and it does not matter how many companies are registered under the same name.
5Is it possible to obtain residency through company registration?
Yes, but note that receiving a residence permit through a company registration is not immediate, and you can apply after the company has been active for some time and has paid its taxes. If you have any questions after reading this text, Sisno Group legal experts will be by your side for a free consultation.
