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Company registration in Georgia

Georgia is a sunny and warm country that is developing at a rapid pace. There is legislation on the territory of the state, the draft laws of which are most convenient for local and foreign entrepreneurs.

 

The main advantages of offshore in Georgia

Offshore company is a company that is registered in the territory of a country where a minimum or zero level of income taxation is provided, provided that the income is received from conducting activities outside the borders of the selected state.

As practice shows, Georgia is now confidently rising in the ratings at the international level. This country demonstrates the ease of running the chosen commercial direction:

  • simple procedure for registering companies;
  • low index tax rates;
  • complete absence of corruption;
  • insignificant participation of state authorities in control over offshore organizations.

On the territory of Georgia there are free industrial zones. These are the so-called areas with favorable conditions for commercial activities. In such areas, it is allowed by law to produce goods for various purposes, as well as provide services. 

Also industrial zones differ

  1. No VAT on imported products, tax payments on income.
  2. Calculations are made in any currency.
  3. Complete confidentiality of information of registered companies.
  4. There are many benefits for foreign firms.
  5. Keeping and submitting reports is not required.

Offshore registration is performed for various reasons: mutually beneficial cooperation with international partners, significant reduction of the tax burden, official access to foreign resources, legal management of foreign assets, successful business in the world market.

Positive aspects of Georgian companies

  • subject to generally accepted conditions, foreign companies are not taxed;
  • no risk of being blacklisted;
  • submission of financial statements is not required, profit is not declared;
  • the opportunity to conduct any entrepreneurial activity not prohibited legislation of Georgia.

On the territory of the sunny state there is a single law for local and foreign businessmen, no distinctions are made. Opening up a business area related to construction, healthcare, energy and so on will require obtaining certain licenses.

In the process of consulting, our specialists will provide detailed advice and help with an effective solution to the tasks. The size of the authorized capital is not prescribed by law. Moreover, this information may not even be communicated to representatives of state authorities. 

Register a company in Georgia, and successfully develop your business with the maximum benefit for the organization.

Leave a request for a free consultation right now

Register a company in Estonia

Name of serviceService cost
Company registration, notary fees, legal fees and government fees. €950
Provision of legal address, agent and secretary, annual registration fees€400
Nominee directorfrom € 790 per year
Nominee shareholderfrom € 490 per year
Preparation and filing of financial statements (starting from the second year)from € 70
Lead time3-5 business days.

Information required for registering a company in Estonia

Authorized capital

The registration of a company in Estonia does not require the actual contribution of the authorized capital, but at the same time the shareholders are liable with their property for the company's debts and cannot distribute dividends. When the authorized capital is deposited, such liability is removed from the shareholders. It is also possible to contribute the authorized capital by property, for example, in the form of equipment (telephone, computer, other equipment). The transfer of property is secured by an act of acceptance and transfer and an appraisal act.

The set of company documents includes: 

  1. Decision to establish a company;
  2. Company charter;
  3. Extract from the commercial register.

Managment structure 

A member of the board and a shareholder can be one single person, both natural and legal, without references to residency. For remote registration of a company, shareholders prepare and certify a special power of attorney for the registration procedure; the director is required to agree to hold the position of a member of the company's board, certified by an apostille.

Public information 

The name of the company, the identification number of the company, the legal address, information about the members of the board, the size of the authorized capital, the financial statements of the company are public data. There is no data on shareholders in the register, but they can be obtained from a notary.

Financial reporting and audit

Estonian companies must prepare and submit an annual financial statement to the tax authority within six months after the end of the tax period. The tax period (financial year) usually coincides with the calendar year, but you can determine it yourself by notifying the tax authority.

The cost of our services for the preparation of financial statements for a "dormant" company is EUR 300. The cost of reporting an active company is calculated individually, depending on the number of transactions performed on the bank account.

An audit is required if the following two conditions are met simultaneously:

  • The number of employees of the company is equal to or exceeds 30 people;
  • The volume of the balance is equal to or exceeds 1 million euros;
  • Income or sales amount is 2 million euros or more;

or one of the conditions below:

  • Number of employees - 90 and more;
  • The volume of the balance sheet is equal to or exceeds 3,5 million euros;
  • Income is 6 million euros or more.

Basic taxes 

The main tax advantage of Estonia is the absence of tax on retained earnings (0%). Thus, only dividends paid to shareholders and shareholders are taxed. Tax on paid dividends - 20%. If the profit is received at the expense of dividends of a subsidiary or foreign representative office of the company, then the dividends paid to shareholders are exempt from taxes.

The standard VAT rate is 20%.

Tax residency

A legal entity is recognized as a tax resident of Estonia if it is registered in Estonia or if its activities are managed and controlled in Estonia. The place of residence of directors does not affect tax residency. Obtaining a tax residency certificate is straightforward, but you need a notarized power of attorney from the director of the company for the right to represent it at the Tax and Customs Board.

Lead time

Registration of a company in Estonia or re-registration of an existing company takes about 3 weeks from the moment the client provides all the necessary information and documents.

General information on jurisdiction

Estonia - a state located in Northern Europe, on the eastern coast of the Baltic Sea, washed by the waters of the Gulf of Finland and Riga. In the east, it borders with Russia (the length of the border is 294 km), in the south with Latvia (339 km). In the north, in the Gulf of Finland, there is a sea border with Finland. In the north and west it is washed by the waters of the Baltic Sea. It is a member of the European Union, Eurozone, NATO and a member of the Schengen Agreement.

 

Capital - Tallinn.

Population - The population of Estonia is approximately 1,3 million people.

Political structure - Parliamentary republic.

Legal system - Estonia is a country of the Romano-Germanic legal system with its own distinctive features. The main legislative act of the country is the Constitution, adopted in 1992. A legal entity in Estonia is registered in accordance with the Commercial Code of 1995.

Infrastructure and economy

The share of the service sector in Estonia's GDP is 69%, industry - 29%, agriculture - 3%

Tongue - Estonian.

Currency - Euro (EUR).

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