9 Reasons why you should start doing business in Georgia


9 Reasons why you should start doing business in Georgia

has earned its reputation as a pre-eminent commercial center with an innovative, dynamic and entrepreneurial business culture. Strategically located at the crossroads of trade and commerce between East and West, Georgia is ideally positioned to access markets of Asia and the Middle East, as well as Europe and the CIS countries. Moreover, its time zone allows Georgia to connect to markets of the Far East and the Western Hemisphere with equal convenience. To leverage this advantage and address growing international demand, the country is developing a world-class communications infrastructure.

Politically stable with a functioning democracy, Georgia has a forward-looking, responsive government with a progressive, pro-business attitude and a strong commitment to the private sector. Business-friendly regulations, a favorable tax and customs framework have played a key role in attracting business investment from all over the world in almost every sphere of economic activity in the country. Strong economic indicators and a relatively low-cost work environment have contributed to its rapid development and prosperity. A modern, safe, multi-cultural place with state-of-the-art medical, education, entertainment, shopping and sports facilities that ensure a high quality of life, Georgia is the location of choice for modern professionals and an ideal location for multinationals to establish a regional presence.

9 Reasons why you should start doing business in Georgia

Geographical location of the country assures easy access to the growing economics of the CIS countries and to the European and Middle East markets.

Deep and Comprehensive Free Trade Agreement with EU, FTA with CIS countries and Turkey, together with General Schemes of Preference with US, Canada, Japan, Norway and Switzerland, translate into access to almost 1 bln market without customs duty.

Highly developed and vibrant transport and communications network makes Georgia well-connected internationally through the land, the sea and the air.

Availability of skilled labor at competitive wages, combined with a flexible Labor Code and absence of the Social Tax.

Few taxes at lower rates, including flat tax rates on personal income (20%), and corporate profits (15%), make Georgia the most attractive tax regime in the region.

Tough anti-corruption measures have significantly improved tax and customs administration, as well as increased state revenues, scaled back Georgia’s shadow economy, and produced a significant decrease in corruption in the public and private sectors as measured by international ratings.

Total number of licenses and permits required in Georgia has been slashed by 84%, and statutory deadlines imposed for government to respond to applications.

The banking sector, which is completely private, is growing rapidly, as foreign investors enter the sector and Georgian banks tap into international capital markets.

Privatization of state-owned property is increasing investment and improving Georgia’s competitiveness. Investors may initiate an expedited, competitive process to privatize assets needed for an investment project.

Read more about Georgia and services we are offering to our clients interested in doing business in there at: https://novasigma.com/georgia/

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