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.
One of the advantages of Georgian tax legislation for the Information Technology sector, both for local and foreigners, is the avaibility of a special status. The "Virtual Zone Entity" is a legal entity operating in the field of Information Technology to which the Georgian tax administration has granted a special status: Profits generated by a VZE from the sale of IT services outside Georgia are exempt from Tax.
In addition to the high returns that investors can achieve by investing in real estate in Tbilisi, there is another advantage provided by a real estate purchase in Georgia: it is possible to obtain a residence permit following this purchase.
"Do I need a visa?" This is the question most often asked by those planning to visit Georgia. The good news is that in the majority of cases the answer will probably be "No". Georgia has one of the most liberal visa regimes in the world, which is certainly one of the main reasons for the fast development of the tourism industry in Georgia.
We are passionate about "stone" as we say in France. In Tbilisi, our eyes are always on the lookout, a wrought iron balcony, a window with an original frame, an old beautifully carved wooden door that we push to discover behind a superb Italian courtyard...Our curiosity is perpetually stirred, Tbilisi abounds in treasures, just look carefully...
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 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.
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.
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.
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.
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.
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.
Investing in prestige rental property is the most profitable of all investments. The oldest buildings in Tbilisi, those dating from the 19th and early 20th have a lot of charm. Once well renovated (insulation, heating, sanitary facilities, plumbing, comfort or safety features), you will own a very attractive property on the Georgian market and will be able to obtain high rental yields as a very high capital gain on resale.
While there are already many flights to and from Tbilisi and the Middle East as well as former CIS countries, airlines to Western Europe are still quite rare. The most convenient way to get to Tbilisi from most Western European cities was to fly via Istanbul with Turkish Airways or Fly Pegasus. We say "was"...because Georgian Airways has just opened new air links to Europe.
Investing in real estate abroad, for economic reasons or to build up a patrimony, is a very attractive experience. But it is worth asking whether this operation is really profitable and under what conditions. We think that investing in Georgia is interesting, here is why.