Georgia is a small country in the Caucasus bathed by the Black Sea, with 3.7 million inhabitants and an area of 70,000 square kilometers. It shares borders with Russia, Turkey, Azerbaijan and Armenia. Its capital is Tbilisi and represents one third of the total population of the country. Its official currency is the Georgian Lari GEL. Georgia, the former Republic of the Soviet Union, has undergone an astounding and remarkable transformation over the past decade.
Georgia is today a country with a very liberal policy, which has reduced to a minimum its administrative formalities, its import and export rights, benefits from modern infrastructures. No other country in the world has made so much progress in eradicating corruption in so little time. Today, Georgia is one of the safest and least corrupt countries in the world. It is at the top of many rankings, including the World Bank's "Ease doing business", and Georgians are proud of it.
This small piece of land with beautiful landscapes is located in a strategic trading area between Asia and Europe, is a very attractive destination, to live, do business or both. The cost of living is considerably low, the process of obtaining a residence permit is simple, and Georgia is now considered a very entrepreneur-friendly country due to its extremely low tax burden and ease of starting a business. The country is also well known for its modern, efficient, transparent and secured banking system. Such a business climate means that the country is attracting more and more foreign capitals.
In addition, the country has become an increasingly popular tourist destination. The landscapes of Jason's ancient Colchid and the Golden Fleece are fantastic! Georgian gastronomy, wine and hospitality are not legendary. The number of tourists visiting the jewel of the Caucasus has doubled compared to only four years ago. And this sector is still growing and will break new frequentation records in 2018.
Georgia of the Caucasus is considered by the World Economic Forum as the ninth economy with the lowest taxes, there are only 6 taxes in all and for all.
Tbilisi is a very business-friendly country. Incorporating a company is painless with a quick and simple registration process. A low tax burden, where your reinvested profits will be exempt from tax (those distributed will be taxed at 15%). Dividends received from foreign sources are not taxable.
There are also several Free Industrial Zones (FIZ)
In the overall ranking of the Ease Doing Business 2018, Georgia is ranked 6th, ahead of Switzerland, Holland or Germany, fourth for its ease to register a property, fourth for its ease to start a business and twelfth for access to the loan, and... second for investor protection. Not bad, for a country still "almost unknown".
Georgia has a very liberal immigration policy: it is simple to obtain residence. Set up a company or the accreditation of a professional activity is enough to get a temporary permit. By making an investment of 100 000 euros, a person can obtain a tax residence for an indefinite period. It is possible to have a tax-free residence, on the condition that no income from Georgian sources is earned.
Becoming Georgian is also an interesting passport option. Georgian citizens have visa-free access to the Schengen area since 2017.
Local source income is taxed at 20%, dividends and interest are taxed at source with a 5% withholding tax, they are not included in personal income tax. Rental investment income is taxed at 5%. Very low!
Georgia is a paradise for the banking system. It is easy to open a bank account and banks are currently paying good returns on deposits.
Thanks to its liberal and reformist regime, Tbilisi is rapidly integrating into the world market. Its very attractive tax regime, easy access, strategic location, low labour costs and easy-to-obtain residence permit make Georgia a very attractive country to invest, develop a business, diversify investments or simply...live in.