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Legislation of Georgia

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
Civil Code of Georgia
Civil Code
Law on Entrepreneurs
Entrepreneurial Activity
Law on Public Registry
Registration of Companies
Law on Insolvency Proceedings
Bankruptcy
Tax Code
Taxes
Law on Promotion of the Suppression of Money Laundering and Terrorist Financing
Combating Money Laundering
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Tax treaties entered

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Tax Exchange Information Agreement (TIEA)

List of state regulatory authorities

Government of Georgia
https://georgia.gov
Perlament
https://www.parliament.ge/en
Ministry of Foreign Affairs
https://www.mfa.gov.ge/en
Ministry of Justice
https://justice.gov.ge/
National Agency of Public Registry
https://www.napr.gov.ge/
Revenue Service
https://www.rs.ge/Home-en
National Bank
https://nbg.gov.ge/en

Corporate info

Legal system
Romano-Germanic legal family
Types of entity
- Sole proprietorship,
- Joint liability company (JLC),
- Limited partnership (LP),
- Limited liability company (LLC),
- Joint stock company (JSC, corporation),
- Cooperative
Shelf companies permitted
Yes
Incorporation timescale for a new company
2-7 days
Company suffix
JLC, LP, joint stock company or JSC, limited liability company or LLC, registered cooperative or RC
Sensitive words
Graphic symbols that do not have a sound or verbal match set by language rules are not allowed to be used in a company name. A company name must not contain any additions that can mislead third parties and/or result in a mistake and/or misunderstanding regarding the form and scope of activity of the business entity and/or relationship of the partners
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
Corporate documents, reporting
Seal required, type of seal
Seal is not required for Georgian companies
Redomiciliation (to, from) permitted
Redomiciliation from and to Georgia is allowed

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
No
Directors’ meetings/frequency/location
No restrictions
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
No restrictions
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
Not established
Minimum issued share capital
Not established
Minimum paid share capital
Not established
Authorized capital payment deadlines
Not established
Issued capital payment deadlines
Not established
Standard currency
GEL
Standard authorized share capital
Not established
Standard par value of shares
1 GEL
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
20%
Сorporate tax
15%
Corporate tax (in detail)
The corporate income tax rate is 15%. The 20% rate applies to commercial banks, credit unions, microfinance institutions and loan providers from January 1, 2023
Capital gains tax
15%
Capital gains tax. Details
Regular rate
VAT
18%
VAT. Details
The standard VAT rate is 18%
Withholding tax
5% (dividend), 5% (interest), 5% (royalty)
Other taxes
Excise Tax, Real Estate Tax, Land Tax, etc.
Exchange control
Yes
Government fee
Yes
Stamp duty
Yes

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
No
Audit required
Yes

General information shortly

Location
Central and western parts of Transcaucasia
Total area
69 700 sq. km
Population
3 736 400 (2023)
Capital
Tbilisi
National currency
Georgian lari
Conditional reduction of currency
GEL
Against USD
0,38 (2024)
Climate, average max and min t°
The west of Georgia has a humid subtropical climate, while the east has a Mediterranean climate
Time difference from Moscow
- 1 hour
Dialing code
+995
State language
Georgian
Ethnic groups
Georgians - 86,8%, Azerbaijanis - 6,3%, Armenians - 4,5%, Russians - 0,7%, Ossetians - 0,4%, Yezidis - 0,3%, Ukrainians - 0,2%, Chechens-Kystinians - 0,4%, Greeks - 0,1%, Assyrians - 0,1%, others - 0,4%.
Literacy rate
99,8 (2019)
History
—
Credit rating
BB
Government type
Unitary republic of parliamentary type
Executive branch
The President and the Government, headed by the Prime Minister
Legislative branch
Unicameral parliament (150 deputies)
Judicial branch
Three-tier system: Supreme Court, courts of appeal, city and district courts
Unemployment
15,6% (2023)
GDP per capita rank
87 (2023)
Corruption perceptions index rank
Corruption Perception Index - 53 (2023)
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