Georgia has quickly become one of the most attractive countries in Eastern Europe for entrepreneurs and digital nomads. With its simple tax structure, fast online registration system, and business-friendly environment, many foreigners are choosing Georgia to launch their ventures.
In this article, we'll walk you through the key steps to start a business in Georgia as a foreigner, from legal requirements to bank accounts and taxes.
📋 1. Choose the Right Business Structure
The most common types of companies in Georgia are:
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Individual Entrepreneur (IE): Ideal for freelancers and solo entrepreneurs. Fast registration and low tax rates.
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Limited Liability Company (LLC): The most flexible structure. Suitable for small and medium businesses.
💡 Tip: Most foreigners opt for an LLC due to its simplicity and separation between personal and business liabilities.
🏛️ 2. Register Your Business
You can register your business:
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Online through the National Agency of Public Registry (NAPR)
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In-person at the Public Service Hall in Tbilisi or other cities
🕒 It takes just 1 to 2 business days to complete registration.
📄 Required Documents:
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Passport (translated and notarized)
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Company name (must be unique)
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Business address in Georgia
💰 Registration fee: Around 100 GEL (approx. $35)
🧾 3. Open a Business Bank Account
Once registered, you can open a bank account. Most major banks allow foreigners to open accounts with a passport and company registration certificate.
🏦 Popular Banks:
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Bank of Georgia
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TBC Bank
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Liberty Bank
💳 You’ll receive a business debit card and access to online banking.
💼 4. Hire an Accountant (Optional but Recommended)
Even though Georgia’s tax system is simple, it's wise to hire a local accountant, especially if you're not familiar with the language or local laws.
🧮 An accountant can help with:
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Monthly tax filings
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Salary payments (if you hire staff)
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VAT registration (if applicable)
💸 5. Understand Your Tax Obligations
Georgia has some of the lowest taxes in Europe. Key points:
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Corporate Tax (15%): Only paid when profits are distributed.
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VAT (18%): Required if revenue exceeds 100,000 GEL/year.
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Small Business Regime: For IEs earning under 500,000 GEL/year → Tax: 1%
📝 You must declare your taxes monthly or quarterly, depending on the regime.
🌍 6. Consider Virtual Zone or Free Industrial Zones
For IT businesses, Georgia offers a Virtual Zone status:
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No VAT
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No Corporate Tax
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5% dividend tax only
Other industries may benefit from Free Industrial Zones (FIZs) with similar tax exemptions.
📌 Important: You must apply and meet certain criteria.
🧑💼 7. Hire Employees (If Needed)
You can legally hire locals or other foreigners. No special permit is needed to hire Georgian citizens.
📑 Employer duties:
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Register employees
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Pay income tax (20%)
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Make monthly declarations
👥 Hiring in Georgia is relatively affordable and simple.
🧠 Final Thoughts
Starting a business in Georgia is a streamlined process, especially compared to many Western countries. With low taxes, fast registration, and growing expat networks, it’s no wonder Georgia is a top destination for international entrepreneurs.
❓ FAQ - Frequently Asked Questions
Can a foreigner fully own a business in Georgia?
👉 Yes, 100% foreign ownership is allowed.
Do I need to live in Georgia to start a business?
👉 No, you can start it remotely, but having a local address is necessary.
Is Georgia good for IT or online businesses?
👉 Absolutely. The Virtual Zone status offers great tax benefits for IT companies.
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