GUIDE TO BUSINESS REGISTRATION IN GEORGIA
Georgia is a business friendly country stemming from simple registration procedures and low taxation system, among other factors. Such a flexible business atmosphere attracts more and more investors during recent years. Georgia has moved up again in the Doing Business Ranking of the World Bank to 7th place.
TYPES OF BUSINESS ENTITIES
- Joint Stock Company (JSC)
- Limited Liabilities Company (LLC)
- Limited Partnership (LP)
- General Partnership (GP)
- Cooperative (CO)
- Individual Entrepreneur (IE)
Limited Liabilities Company (LLC) is the most common form for small and medium-sized companies. LLC can be established by any individual or legal entity. The charter capital of the company is divided into shares.
REGISTRATION PROCEDURE FOR JSC/LLC/GP/LP/CO
All the Georgian legal entities must be registered in National Agency of the Public Registry.
List of documents - The Founder or a trustee should submit an application as well as other documents listed below:
- The charter of the company
- Company registration certificate (if the founder is a foreign legal entity)
- Passport copies of the founder(s) and the director(s).
- Permission of the company’s legal address owner
- Director's consent to the appointment of director (If the director doesn’t attend)
Company registration can be carried out by a trustee on the basis of a power of attorney.
Please note that documents issued abroad should be notarized and legalized in founder’s country, or Apostilled, translated and notarized in Georgia.
The founder and the director can be the same person.
The Number of founders or directors is not limited according to the Legislation of Georgia.
The Charter Capital is not limited and the minimum amount can be zero Georgian Lari.
The Number of activities is not limited and the company can carry out any activity that is not forbidden by the legislation of Georgia.
A company re-registration or updating of the current registration is not required if there are no changes in the company data (name, address, director, founder).
The time needed for company registration is one business day after the submission of all relevant documentation. An accelerated registration procedure is possible on the same day with extra fee.
Opening Bank Account usually completes in one day with attendance of the director and the founder (in some banks, if the founder is not a resident of Georgia) or by a trustee on the basis of power of attorney.
*This is general information only. Legislation of Georgia is very extensive and before making any decision that may effect on your business you should consult a qualified professional adviser. We do not take any responsibility who relies on this communication.
Last updated on 28th of February 2020