You can check in FAQ all the questions that the persons have when they want to make something in Georgia with respect to registration of companies in Georgia / immigration to Georgia / taxes and accounting in Georgia / tax advices in Georgia and any other legal assistance with respect to any of their transaction in Georgia.
The pearl of the Caucasus has become a less and less well kept secret. Today many business leaders, consultants, expatriates choose this Eurasian country as a place for business creation, work and family education. One of the first things to do is opening a bank account.
Having an offshore persoanl bank account is totally legal. Even if you are a foreign resident, opening an account abroad, especially in Georgia of the Caucasus, is quite possible!
The are many advantages of having a company based in a Free Zone in Georgia (Caucasus: Strategic, Operational and especially Tax. Gurian Consulting Tbilissi explains why.
An LLC allows you to trade in Georgia. All types of activities are possible You can create a service company, a factory for the local market, a shop, a restaurant...
One of the most attractive tax systems in the world. According to the World Economic Forum's Global Comptetitiveness Report, Georgia in the Caucasus is the ninth lowest-taxed economy in the world.
The transition from a quasi-failed state in 2003 to a market economy, now described as efficient, is one of the major achievements of Georgia in the Caucasus. In 2007, the World Bank recognized the country as the world's leading economic reformer and has always ranked the country at the top of its "Ease Doing Business" index. Georgia is ranked ninth in 2018. Here is an overview of Georgia's ranking according to several Western indices. Not so bad for a country that half of the mortals don't know.
Starting a business in Georgia is a simple process. Incorporation procedures are very limited, efficient and easy, based on a transparent system that encourages the creation of new businesses.
Offshore banking services allow for greater financial confidentiality. Having a personal offshore bank account in Georgia allows you to enjoy many financial benefits and perform banking transactions abroad in exactly the same way as your personal bank account would allow you to do in your country.
Tens and tens of millions of people around the world have their money in offshore accounts. Politicians, wealthy investors, celebrities are taking advantage of offshore banking opportunities. Whether you are a European citizen, an American citizen or an expatriate living abroad for any reason, you can legally benefit from an offshore account. Opening an account abroad offers a legal alternative to protect your money.
Opening a single international business bank account can expose you to certain risks. The solution to this problem is to open a second business bank account in another jurisdiction. In Georgia, you can open a corporate bank account remotely, you have the possibility to open this corporate bank account in multi currencies and no minimum deposit is required.
While offshore banking operations around the world - from the Caribbean to Asia - have become increasingly difficult to open (especially for Americans), Georgia remains one of the easiest places in the world to open an offshore personal bank account.
You probably know most of the famous tax havens such as the Bahamas, the British Virgin Islands, the Seychelles, the Cayman Islands, Belize, the last one to hit the screen being Panama... there are tax havens all over the world, the United States and its Puerto Rico territory, being perhaps the most popular at the moment because outside the OECD radar and the Automatic Exchange of Information (banking). So is Georgia in the Caucasus.
The status of Virtual Zone is a legal entity in Georgia and is similar to the Industrial Free Zones regime in Georgia. The status of virtual zone offers many tax incentives but these are reserved for IT companies. The main tax advantage is the absence of taxes on income from the export of computer services and products such as software.
Offshore bank accounts are legal. It is perfectly legal to conduct banking transactions on personal bank accounts or offshore bank accounts. But they must meet the requirements of the tax authorities of your country of residence, which in many countries require this type of account to be declared.
Among the many industrial sectors that are doing well in the global economy, information technology is certainly at the top. Information technology has become one of the most favourable sectors for creating jobs and making profits. However, the sector also needs incentives and a level playing field to be competitive at the highest degree. This is what Georgia offers in the form of Virtual Zones.
The development of the Internet has opened up many opportunities for companies. And among these, software companies are in pole position. Software export is the main source of revenue for a large number of IT companies operating worldwide. There is one country that does not levy taxes on the income of IT companies, namely Georgia in the Caucasus.
Opening a personal bank account in Georgia is simple, fast and easy. You get your personal offshore bank account in 24.00. No personal visit is required, account opening can be done remotely through the Power of Attorney. Banking in Georgia is efficient and secure, Internet payments are available 24 hours a day, 7 days a week. And it's also cheap, the personal account from 400 EUR all-inclusive with e-banking and credit card. You pay in one installment. There will be no additional charge for opening the account.
It is not an empty phrase to say there is a discrepancy between political will and financial policy in Georgia. Indeed, almost everyone can register a company in Georgia, even remotely, but not every registered company can have a bank account in Georgia.