Georgia – Incorporation Process and Requirements

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INCORPORATION PROCESS IN 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.

Other available entity types are JSC, International trading company, International finance company and Free zone Company. Please contact us for more information!

REQUIREMENTS AND SPECIFICATIONS (LLC)

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: 0% / 15% Tax is paid only if corporate profits distributed
VAT: Maybe liable to pay a VAT rate of 18% (if annual revenue exceed GEL 100,000 must register for VAT purposes)
Annual financial report: Yes
Registration address: Yes (in Georgia)
A Company bank account: Start account is not required before company registration
Free zone registration: Regular annual registration is due April 1 and costs $50. There is a $25 late fee. Although you can submit a hard copy of your renewal, electronic filing is both faster and more convenient than paper filing.
Other:

 

 

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