If you plan to start a new business, Georgia is one of the best places for startups in the whole world with many tax benefits. Doings business is very simple here, in addition, the country offers the following tax benefits (non-exhaustive list):
0% taxation of individual on foreign source income;
0% taxation of individuals on selling cryptocurrency;
1% taxation of individuals for certain type of incomes up to 500 000 GEL in annum;
5% taxation of individual on renting out or selling residential properties;
Special system of corporate income tax for companies (taxation only in case of dividend distribution, no taxation on reinvested profit);
0% taxation and other benefits for IT companies;
Free industrial zones;
Protection by 56 international tax treaties;
Possibility to obtain a tax residency in Georgia without spending even one day in the country;
And many other benefit.
Considering all above, we strongly suggest you to have in mind Georgia as a new location for your business and if you decide so, we will be glad to use our expertise to assist you in the following:
Company (e.g. LLC) registration in Georgia,
Registration as an individual entrepreneur in Georgia;
Providing a legal address for your business (Individual and/or legal entity);
Opening a bank accounts (business and/or private);
Opening a tax-payer page in a portal of Georgian tax administration;
Obtaining Georgian tax residency certificate;
Obtaining status of “small business” for individuals for 1% taxation;
Obtaining status of “Virtual Zone Person” or “International Company” for 0 or low taxation for IT companies;
One-off tax consultation for setting up the best business structure and lawfully enjoy all possible tax benefits (strongly suggested to avoid future risks and complication/receive more benefits);
Monthly accounting and reporting services;
On-going tax and legal consultation.
Please, note that all above services can also be performed on distance, via Power of Attorney. We are best in what we do. Just send us a request to info@tpsolution.ge