Business Set up in Georgia

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BACK - GEORGIA

A limited liability company (LLC) in Georgia is a legal entity formed by maximum 50 shareholders and may be incorporated by at least one founder. This is the most popular type of legal entity preferred for incorporation by both local and foreign investors and our team of specialists in company formation in Georgia can offer in-depth assistance regarding the registration of this business form.

The capital of the limited liability company opened in Georgia is divided into shares and the responsibility of each member is limited to the value of his/her shares. The shares are freely transferable and the members may also leave them as inheritance. If a member of the company owns a single share, that share can’t be sold. At the same time, it is important to know that the entity registered as a limited liability company must add in its trading name the particle “LLC”, the abbreviation available for this legal entity.

Another important aspect referring to the limited liability company in Georgia is that this entity can be set up by an individual or by a legal entity. This is the most common business form registered in Georgia due the liability of the shareholders, which is limited to the number of shares they own in the company. Each limited liability company is based on a charter, where all the internal regulations of the company are stipulated.

1.0 – REQUIREMENTS AND SPECIFICATIONS

Entity type and suffix: Limited liability company, LLC
Shareholders/Founders: at least 1 person or legal entity, foreign entities accepted
– Documents Copy of I.D. document of a founding partner(s)
Directors: at least 1 natural person, non-resident directors accepted
– Documents Copy of I.D. document of a person to be registered as a director
Share Capital: min. USD 1
Residency: An entity generally is considered a resident of Georgia if it is registered in Georgia
Corporate tax: 15%
VAT: Maybe liable to pay a VAT rate of 18%
Annual financial report: Yes
Registration address: Yes (in Georgia)
A Company bank account: Start account is not required before company registration
Free zone registration: Available (Tbilisi Free zone)

 

2.0 – EXPRESS COMPANY FORMATION from 1.600€ (vat 0%)

2.1 – THE SERVICE INCLUDES:

  • Establishment of company by an individual entity (Max 1 founder/director)
  • Limited liability company (LLC) registration in Republic of Georgia
    • Assistance for company founders in Tbilisi
    • Remote company registration available (+500€)
  • Company documents available in digital format after registration
  • Registration address in Tbilisi for the first year
  • 50% pre-payment required from new clients

2.2 – ADDITIONAL SERVICES AVAILABLE UPON REQUEST / AFTER A COMPANY HAS BEEN REGISTERED:

  • Business & tax advisory before company formation about doing business in Georgia + 180€/h
  • Opening of Bank account of new Express company +590€ / one-off-fee
  • Accounting and bookkeeping service for the company from +79€/month
  • Registration address and business support service after the first year +720€/y

3.0 – ADVANCED COMPANY FORMATION from 3.700€ (vat 0%)

3.1 – THE SERVICE INCLUDES:

  • Establishment of company by an individual entity OR by a legal entity (1 or more founders who can be foreign companies. 1 or more directors)
    • For establishment of company by foreign legal entity (+1.200€)
  • Preparing M&MA
  • Limited liability company (LLC) registration in Republic of Georgia
    • Meeting / Tax advisory and legal support from the Legal 500 company
    • Assistance of company founders in Tbilisi
    • Remote company registration available (+500€)
  • Company documents available in digital format after incorporation
  • Registration address in Tbilisi for the first year

3.2 – ADDITIONAL SERVICES AVAILABLE UPON REQUEST / AFTER A COMPANY HAS BEEN REGISTERED:

  • Business & tax advisory before company formation about doing business in Georgia + 180€/h
  • Opening of Bank account of new advanced company +1.450€ / one-off-fee (owner of the company is a foreign entity or there is more than owners)
  • Accounting and bookkeeping service for the company from +79€/month
  • Registration address and business support service after the first year +720€/y
  • Technical directors and other nominee services available

4.0 – HOW TO PROCEED?

  1. Fill and send the order form below or schedule a meeting with Novasigma
  2. Novasigma will contact you and send you an invoice for a prepayment.
  3. Novasigma will send you a questionnaire about proposed business, shareholders and directors
  4. Send all required documents about shareholders and directors
  5. Schedule time and date for a registration in Tbilisi, Georgia OR send a notarized POA (in case of remote company registration)
  6. The company will be registered normally within 3-5 business days
  7. Bank account opening in Georgia will be available after the business has been registered (remote bank account opening service available

5.0 – ORDER GEORGIAN COMPANY FORMATION SERVICE

In cases KYC or/and Due Diligence process required Novasigma might require a personal meeting with all its new clients before proceeding any assignment

BACK - GEORGIA

Novasigma provides international accounting services, company formation services, legal, business and tax advisory services | Terms of Use & Terms of Business | © 2016 NOVASIGMA Global - Accounting & Law Cooperative ("NOVASIGMA LIMITED"). Member firms of the NOVASIGMA Global - Accounting & Law network of independent firms are affiliated with NOVASIGMA Global - Accounting & Law. NOVASIGMA Global - Accounting & Law provides no client services. No member firm has any authority to obligate or bind NOVASIGMA Global - Accounting & Law or any other member firm vis-à-vis third parties, nor does NOVASIGMA Global - Accounting & Law have any such authority to obligate or bind any member firm. Independent registered advisers, lawyers and accountants are not owned by, affiliated with or supervised by Novasigma or its affiliates. Novasigma provides custody, trading and operational support services for advisers, lawyers and accountants. Not all products and services available through Novasigma and its affiliates are available through advisers, lawyers or accountants. Registration does not imply a certain level of skill or training. Depending on jurisdiction there might be eligibility requirements to work with a dedicated Financial Consultant, Lawyer or Accountant. Wealth management, accounting, audit and legal services refers to products and services available through the operating subsidiaries of the Novasigma Corporation of which there are important differences including, nut not limited to, the type of advice and assistance provided, fees charged, and the rights and obligations of the parties. It is important to understand the differences when determining which product and/or services to select. Novasigma provides a full range of business, financial, banking and tax advisory, accounting and legal services through its operating subsidiaries.

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