On this page, you can find useful information and current news about the Republic of Georgia, company incorporation, tax rates, residence, tax residence, visa regime, banks in Georgia and other topics. 

SMALL BUSINESS TAX REGIME IN GEORGIA 


The Republic of Georgia offers only 1% tax on turnover for Individual Entrepreneurs. 

According to tax reform from the 1st of July 2020 the tax for Small Business changed from the 5% to only 1% on a turnover.

In addition, while in the past small businesses were defined as businesses with a turnover of up to 100,000 GEL, from now on those with 500,000 GEL (approximately 132,000 EUR) per year will also qualify as small businesses.
 

Requirements to obtain the Small Business status:

  • Total revenue: less than 500.000 GEL. 
  • Employees: A small business can have employees.
  • Forbidden activities: The small does not carry on the following activities: activities requiring a license or permit, currency exchange operations, gambling, trading, consulting, architectural, lawyer, notary or medical activities.
  • VAT: a Small Business has to be registered as a VAT payer.
  • Taxes: a Small Business has to file a monthly tax report before the 15th of each month. 
  • Record of expenses: a Small Business should records expenses in chronological order per calendar year, and keep these records for at least 6 years.
Be aware of the Double Tax Treaty between the Republic of Georgia and other countries. If you have a business registration in the Republic of Georgia it makes sense also to become a resident and tax resident in Georgia. The ideal setup is to change your place of residence to Georgia and to register yourself as an Individual Entrepreneur.
To become a tax resident in Georgia you shall spend 183 days per year or more in the Republic of Georgia. You will get a Tax Residence Certificate from the Revenue Service in Georgia. 

We are happy to help you with Small Business setup in Georgia. We recommend starting with buying or renting a flat in the Republic of Georgia in order to get your residence card in Georgia, then to set up your business and register yourself as an Individual Entrepreneur in Georgia. 

5 MISTAKES TO AVOID WHEN INCORPORATING A BUSINESS IN GEORGIA. 


We want to focus on the business incorporation in the Republic of Georgia and pay attention to the mistakes to avoid when going through this process. 
According to the Doing Business (DB) 2020 report of the World Bank (WB) the Republic of Georgia took 7th place out of 190 countries, ranking among the world’s top countries. Georgia is one of the best places to start a business. Have you ever wondered why is so?
Georgia is developing more and more into a highly attractive location for international company formations, especially for IT and internet entrepreneurs, software developers, eCommerce and consulting companies. Many entrepreneurs from Germany, Austria, Switzerland, the United Kingdom, Italy, Spain, Cyprus, Ukraine, Russia go to Georgia to start a business or even change their place of residence to Georgia. They have good experience in Georgia with business incorporations, employees and business relationships and advantageous tax regimes. Georgian legal system has advantages both for start-ups and bigger companies.
REASONS WHY GEORGIA IS ONE OF THE BEST PLACES TO INCORPORATE A COMPANY:
  • Fast procedure of a business incorporation
  • Business-friendly environment
  • Special tax regimes zones: Free Zone and IT Zone
  • Smooth administrative procedures such as tax registration and licensing
  • Highly qualified employees; reasonable average salary rate
  • Prime geographical location; good flight connections
  • Increasement of investment flows and economic growth as a result of the political and economic reforms
  • High potential of becoming a business hub between Asia and Europe
We compiled the 5 biggest mistakes that entrepreneurs make so you can avoid them when starting your business in Georgia.
1. NOT APPLYING FOR THE PROPER LEGAL STRUCTURE AND BUSINESS REGISTRATION
The biggest mistakes that entrepreneurs make are not registering their business or picking the right business entity. To register your business properly from the beginning is a way to avoid the high cost and lose of valuable time to correct it in the future. You need to decide on the legal form.

Georgian legislation allows you to register a business in the following forms:
  • Individual Entrepreneur
  • Limited Liability Company (LLC)
  • Nonprofit Organization (NPO)
  • Joint Stock Company (JSC) 
as well as several other, less popular forms of formation of legal entities.

To make the right decision on the choice of form, it is necessary to analyze future activities in terms of the optimal tax regime and in terms of the structure of business ownership and profit distribution.
INDIVIDUAL ENTREPRENEUR
As an individual entrepreneur, you can benefit from a 1% tax if you meet certain conditions. Individual entrepreneurs with an annual turnover of less than GEL 500,000 ( around 145,000 EUR) may register as a small business and pay 1% tax on their turnover. The rate increases to 3% if annual turnover will exceed GEL 500,000.

However, it only makes sense to be an individual entrepreneur if you are also a tax resident in Georgia. Often a registration of a company in Georgia makes more sense.
LLC (LIMITED LIABILITY COMPANY)
Registration of an LLC is the easiest way to set up a company. You can be the sole shareholder or managing director. The perfect structure of your LLC should be discussed with your tax advisor or a law firm in Georgia.

Important to know: The register in Georgia is public, meaning that you can see where your company has its registered office and who the directors and partners are. This is helpful for an account opening, as banks prefer transparency and open an account more easily if there is a public company register.

Make sure that your LLC has enough substance and a local director in Georgia so that your home tax office also recognizes your LLC as a tax resident in Georgia.

Often you can start with minimal effort and then expand your business step by step. Especially attractive in Georgia is that costs for employees, office and many other things are about 60 to 70% lower compared to Europe.

Also, you can start your LLC by yourself. You don't need a co-partner or other managing director. There is no minimum share capital. This means that you can found a company with 1 Lari. However, we recommend a minimum share capital of 500 Lari (around 145 EUR).

Very important note: When you start a company, ask about the Articles of Association. Do not use the standard Articles of Association, but make sure that they are professionally drawn up.
JOINT STOCK COMPANY (JSC)
The Joint Stock Company is the best form of incorporation if you value reputation and do not want shareholders to appear in the public register.

Get professional advice, because very few law firms understand the Georgian Joint Stock Company. The formation and administration are more complicated than for LLCs. Capital requirements apply the same as for LLCs. You do not need a supervisory or administrative board. Also, you can be a managing director by yourself.
2. NOT GETTING ADVANTAGEOUS TAX REGIME STATUS FOR YOUR BUSINESS
In Georgia, you can choose an attractive tax regime such as a Free Industrial Zone or IT Zone (Virtual Zone) depending on the industry your business is in. This is a perfect opportunity for trading and IT-related businesses.
IT ZONE (VIRTUAL ZONE)
  • 0% Corporate Income tax
  • 5% Withholding tax (on distributed dividends)
  • 0% VAT
  • No annual license fee
FREE INDUSTRIAL ZONE
  • 0% Corporate Income tax
  • 0% Withholding tax (on distributed dividends)
  • 0% VAT
  • Customs free Import and Export
  • Annual license fee
IT ZONE (VIRTUAL ZONE)
IT Zone Company is an opportunity for IT-related business and freelancers to use the tax advantage given by the Georgian government.

First, it is a 0% Corporate Income tax. Rate of VAT is also only 0%. A Withholding tax is 5% (on distributed dividends). No annual license fees. To get a status of IT Zone company the main activity of a business should be IT consulting, software development, Internet marketing, eCommerce, Crypto, and other IT-related services.
The "IT zone entity" (introduced by the Georgian Tax Code) is a legal entity that performs information technology activities and one that has been granted special status by the Georgian tax authorities. Profit generated by an IT Zone entity from the supply of information technology services outside Georgia is exempted from taxation in Georgia.
SOME KEY FEATURES OF THE GEORGIAN IT ZONE ENTITY INCLUDE
  • The income of an IT Zone entity is exempt from VAT (18%) and corporate income tax (15%) if the company provides its services to foreign customers located outside Georgia;
 
  • In the case of dividends payment (to a physical person or nonresident legal entity shareholder), the only Georgian tax on dividends payable is rated at 5% and is paid to the state budget at the moment of the distribution of dividends. If dividends are paid to a foreign shareholder, then the taxation of such a shareholder in the country of its tax residency shall be analysed with the consideration of the double tax treaty of the relevant country with Georgia (if any).
 
  • The director of the IT Zone entity can be either a local or foreign individual who can be physically located either in Georgia or abroad and can manage the company's account by means of distance banking; and
 
  • There is no requirement to have an employed staff in Georgia, except for the company's director, who shall be appointed at the point of the company's state registration.
 
  • The Georgian legislation does not clearly define what exact activities fall under the definition of the "information technologies activities" for the company to be granted the status of an IT Zone entity. However, according to the official website of the Ministry of Finance of Georgia, it is considered to include the "process of research, development, support, design, production and implementation of computer and information systems; as a result, various software products are in place". Thus, a conclusion can be made based on such a definition that any web-based product/service produced and delivered by a Georgian IT Zone entity can be considered an "information technologies activity", provided that such an entity performs research, development, support, design activities and is the owner of IP rights for the relevant product.
As a result, the Georgian IT Zone entity is becoming a new interesting solution for international IT businesses focused on foreign clients.
FREE INDUSTRIAL ZONE (FIZ)
Free Industrial Zone (FIZ) operations are regulated by the Law of Georgia on Free Industrial Zones. The aim is to promote economic growth, enhance industrial competitiveness and attract foreign direct investment.

In 2020 four Free Industrial Zones are operating in Georgia:

4. Tbilisi Free Zone
3. Kutaisi Free Industrial Zone
2. Hualing Kutaisi Free Industrial Zone
1. Poti Free Industrial Zone
 
Each Free Industrial Zone is managed by an administrator who is appointed by the Government of Georgia. For example, Bitfury (Holland) in Tbilisi, Fresh Electric Company (Egypt) in Kutaisi, Hualing Group (China) in Kutaisi and CEFC China Energy Company Limited (China) in Poti. The Zone Administrator is responsible for creating all necessary conditions for running a business in the managed territory. The administrator issues license to legal entities and entrepreneurs, allowing them to operate in the tax-free zone.
TBILISI FREE ZONE (TFZ)
Tbilisi Free Zone (TFZ) incentives:
  • The income of a Free Industrial Zone Enterprise is exempt from the Corporate Income Tax
  • Dividends distributed by a shareholder of a Free Industrial Zone Enterprise are not taxed
  • Trade between the Free Industrial Zone Enterprises are exempted from the VAT
  • Free Industrial Zone Enterprises have no obligation to manage the personal income tax of the employees
  • Free Industrial Zone Enterprises are not liable to assess and pay Reverse Charge VAT (RCVAT)
  • Export is exempted from VAT with the entitlement to tax credit
  • The property, including land, located in a Free Industrial Zone is exempted from a property tax
  • Trade between a Free Industrial Zone Enterprise and a Georgian company is taxed at 4% of the invoice value
TAX ADVANTAGES
FREE INDUSTRIAL ZONE
  • Import tax 0%
  • Corporate income tax 0%
  • Personal income tax 20%
  • VAT 0%
  • Property tax 0%
  • Withholding tax 0% (on distributed dividends)
GEORGIA
  • Import tax up to 12%
  • Corporate income tax 15%
  • Personal income tax 20%
  • VAT 18 %
  • Property tax 1%
  • Withholding tax 5% (on distributed dividends)
IMPORT AND EXPORT TAXATION BETWEEN POTI FIZ AND GEORGIA:
  • Import from Georgia to Poti FIZ 4% duty (out of invoice value)
  • Import from other countries to Poti FIZ 0%
  • Export from Poti FIZ to Georgia 4% duty (out of invoice value)
  • Export from Poti FIZ to other countries 0%
Note: buyer company in Georgia pays TAX ON IMPORT (0-12%) AND VAT - 18%

Those who intend to register the company in the FIZ of Georgia should consider that all kinds of activities can be performed here except for that:
  • production and trade in ammunition/weapons;
  • production and trade in nuclear or radioactive substances;
  • trade, storage and production of narcotic and psychotropic drugs;
  • production and trade of tobacco products;
  • rental of properties for residential purposes; production and trade of excisable goods.
Moreover, there are options for Individual Entrepreneurs to use advantageous tax regimes:
  • Individuals with an annual turnover of less than 30,000 Georgian lari (GEL) (around 10,000 USD), no employees, and who register as a micro business will be exempt from tax on their business income.
 
  • Individual entrepreneurs with an annual turnover of less than GEL 500,000 (around 170,000 USD) may register as a small business and pay 1% tax on their turnover. The rate increases to 3% if annual turnover will exceed GEL 500,000.
Georgia offers incredibly attractive tax regimes for entrepreneurs and companies. The business incorporated in Georgia is one of the best possible options to combine both low cost for renting an office and hiring staff and advantageous tax regimes in the modern and business-friendly environment
3. NOT IMPLEMENTING A PROPER BOOKKEEPING PROCESS
Good bookkeeping practices in Georgia ensure that you're on top of issues like tax and insurance payments that can get otherwise great businesses into trouble. Accurate bookkeeping and accounting are essential but it shouldn’t take up all your time each week. As an entrepreneur and small business owner, your time is premium and valuable. You should be focusing on developing your business, winning new clients and providing a great service.

The best option is to hire a local accountant or to work with tax and accounting consulting firm. We recommend working with one provider for company registration, accounting and tax consulting. In this case, you can be sure that you get constant proper service and you can get a professional consultation on each question you have. Working with a local bookkeeping expert will ensure your bookkeeping is always the best it can be. Also, small businesses do not need an in-house bookkeeper. If you work with the local firm you can avoid paying employee overheads, holiday pay, payroll taxes, and training costs. This is important when it comes to improving your profit margin.

Important is to work in your mother tongue in a financial and legal area. If you do not speak Georgian it will be difficult to rely on Georgian providers. Misunderstandings can be expensive. There are law firms in Tbilisi with half local half international teams speaking English, German, Russian and Georgian.
4. TO RENT AN OFFICE IN THE WRONG LOCATION IN GEORGIA
If you start a company in Georgia, you need an office. The main cities in Georgia are Tbilisi, Batumi and Kutaisi. Georgia is a small country and the only big city is Tbilisi.

In Tbilisi, you will find all the international organisations, the embassies and consulates, international service providers, companies and employees with various language skills and areas of expertise. There are 1.4 million inhabitants in Tbilisi. It is a modern city with active, friendly people, rich culture and a big choice of entertainment. There are many office centres, banks, restaurants and modern residential areas. Tbilisi is suitable for your business in Georgia.

Batumi is a touristic area locates on the shore of the Black Sea. It is mainly known for casinos and cheap real estate. As a company location, Batumi is not interesting enough. The only exception is if you need Turkish-speaking staff. The city is only a few kilometres away from the border with Turkey and there are many Turkish families who have settled in Batumi. In Kutaisi, you have an airport with very good connections to Europe. Unfortunately, the city is too small to find qualified employees. People move to Tbilisi from smaller cities and towns. Another problem is that almost no English is spoken in public authorities and banks.

Kutaisi is simply not international enough to do serious business or start a company there.

If you are into an area of business that requires interaction with clients or customers, you should ensure that the location of the office is in an area convenient for your staff and associates. On the other hand, if yours is a business that requires minimal interaction with clients or staff, then the location may not play a key role. You can rent an office in Tbilisi for a few hundred euros a month or, depending on the size, you can even buy an office for up to 10 employees for 80,000 euros or more. You can use it as an investment. The real estate prices in Tbilisi have a lot of potential for further increases.

For a start, use an office service provider. There you can get a company address for just 100 euros a month and even for small money an office in a central location in Tbilisi. Very important: Your landlord has to agree to the use of the address as company headquarters when the company is registered. Important to make sure in advance if this is included in the price.
5. TO OPEN A BANK ACCOUNT WITH A SMALL LOCAL BANK IN GEORGIA
The two major banks TBC Bank and Bank of Georgia are the best choice for international investors and entrepreneurs. The small banks are often slower to open accounts and are not so focused on international clients.

It can also make sense to use digital banks. Transferwise, for example, is a very good option with low fees and worldwide applicability. Alternatively, there are also banks in the EU and SEPA area where you can open your business account for a Georgian company completely online. We are happy if we could help you and save you from expensive mistakes. Our team has a wide experience of more than 200 business incorporations in Georgia.

We are glad to share our experience in Georgia with you. Georgia is a great country with many opportunities for entrepreneurs. It develops very fast and becomes an extremely attractive place for company incorporations. If you avoid these 5 mistakes you can start a business in Georgia successfully and save a lot of money.

Q&A about the Republic of Georgia


IS THE BUSINESS ENVIRONMENT IN GEORGIA ATTRACTIVE?

Indeed, Georgia has a very attractive environment for business. Firstly, the bureaucracy level is low. Secondly, Georgia has one of the most attractive tax environments worldwide. Over the last decade, Georgia has undertaken a series of progressive reforms including anti-corruption efforts, reforms of labour and tax codes. Company registration in Georgia is smooth and fast. Georgia has a business-friendly legal system and a high level of privacy.

The Ease of Doing Business Report 2020 of the World Bank ranks Georgia as number 7 out of 190 countries. Georgia ranks even higher than countries like the United Kingdom of Great Britain, Norway, Sweden, Germany, Lithuania and others. Below you can see rankings on Doing Business topics in Georgia. 



DO I HAVE TO TRAVEL TO GEORGIA?

Georgia has a very business-friendly environment. You can register a new company during 2-3 working days. Also, Georgia has a really convenient location connecting Europe and Asia. There are many flight connections to Tbilisi and Kutaisi. A trip to Tbilisi just for a few days is enough both to register a company and to enjoy Georgian culture.

With the help of our team, you can set up a company just within a 4 days visit to Georgia. We are taking care of the preparation of all documents and all legal tasks. You don´t have to worry about appointments or translations to Georgian.

Moreover, with CMS you can start your business in Georgia completely remotely. Registration of a company can be made through a representative with a Power of Attorney. Within 1 week after we receive your documents your company will be registered and ready to use.  

For clients who don´t want to wait or need an already registered company, we provide also existing shelf companies. You can choose from the list of the registered companies a company by the name, type (LLC or JSC), with a status of IT Zone or without and by the year of registration. You can purchase your company completely remotely. And most importantly: You save the time to obtain the IT Zone status.


 
DO I HAVE TO BE A RESIDENT IN GEORGIA?


Shareholders of a company in Georgia can be residents and non-residents. The reformed and business-friendly system of taxation and registration of a company attracts businessmen and businesswomen from countries all over the world. Do I need a visa to go to  Georgia?
Citizens from 94 countries can enter Georgia and stay here a maximum of 360 days, without a visa requirement.

These countries are:
  • Commonwealth of Australia
  • Republic of Austria
  • Republic of Azerbaijan
  • Republic of Albania
  • United States of America
  • Principality of Andorra
  • Antigua and Barbuda
  • United Arab Emirates
  • Argentine Republic
  • New Zealand
  • Barbados
  • Kingdom of Bahrain
  • Commonwealth of the Bahamas
  • Republic of Belarus
  • Kingdom of Belgium
  • Belize
  • Bosnia and Herzegovina
  • Republic of Botswana
  • Federative Republic of Brazil
  • Nation of Brunei
  • Republic of Bulgaria
  • Federal Republic of Germany
  • Kingdom of Denmark
  • Kingdom of Denmark territories – Faroe Islands, Greenland
  • United Kingdom of Great Britain and Northern Ireland
  • British overseas territories – Bermuda, Cayman Islands, British Virgin Islands, Falkland Islands, Turks and Caicos Islands, Gibraltar
  • British dependent territories – Guernsey, Jersey, Isle of Man
  • Commonwealth of Dominica
  • Republic of El Salvador
  • Republic of Ecuador
  • Kingdom of Spain
  • Republic of Estonia
  • Republic of Turkey
  • Turkmenistan
  • Japan
  • Irish Republic
  • Iceland
  • State of Israel
  • Italian Republic
  • Canada
  • State of Qatar
  • Republic of Cyprus
  • Republic of Colombia
  • Republic of Korea
  • Republic of Costa Rica
  • Republic of Latvia
  • Republic of Lithuania
  • Lebanese Republic
  • Principality of Liechtenstein
  • Grand Duchy of Luxembourg
  • Republic of Mauritius
  • Malaysia
  • Republic of Malta
  • United Mexican States
  • Principality of Monaco
  • Republic of Moldova
  • Montenegro
  • Kingdom of the Netherlands
  • Kingdom of Netherlands territories – Aruba, the Netherlands Antilles
  • Kingdom of Norway
  • Sultanate of Oman
  • Republic of Panama
  • Republic of Poland
  • Portuguese Republic
  • Republic of Romania
  • Russian Federation
  • Hellenic Republic (Greece)
  • Republic of South Africa
  • Republic of San Marino
  • Kingdom of Saudi Arabia
  • French Republic
  • French Republic territories – French Polynesia, New Caledonia
  • Republic of Seychelles
  • Saint Vincent and the Grenadines
  • Republic of Serbia
  • Republic of Singapore
  • Slovak Republic
  • Republic of Slovenia
  • Republic of Armenia
  • Kingdom of Thailand
  • Republic of Tajikistan
  • Republic of Uzbekistan
  • Ukraine
  • Hungary
  • Republic of Finland
  • State of Kuwait
  • Kyrgyz Republic
  • Republic of Kazakhstan
  • Kingdom of Sweden
  • Swiss Confederation
  • Czech Republic
  • Holy See (Vatican City)
  • Republic of Croatia
  • Republic of Honduras
 
HOW TO GET A RESIDENCE IN GEORGIA?
 
Residence permit authorizes the right of a foreign citizen to enter and stay in Georgia or transit the territory of Georgia during the term of validity of residence permit. It also authorizes a holder to invite another foreigner to Georgia.

Georgia issues the following residence permits:  
  • A work residence permit is issued to persons coming to Georgia for entrepreneurial or labour activities as well as to freelancers. When you start your business in Georgia you can get a residence in Georgia.
 
  • A short-term residence permit is issued to the person and his/her family members who own immovable property (except for agricultural land), with the market price above USD 100 000 equivalent in GEL (Georgian Lari).
 
HOW TO GET A TAX RESIDENCE IN GEORGIA?

An individual’s liability to income tax in Georgia is determined by residence status for taxation purposes and the source of income derived by the individual.

The tax regime in Georgia is territorial. Residents and non-residents are taxed on their Georgian-sourced income only.

Foreigners can obtain a tax residence in Georgia. The first step is to become resident in Georgia. In a second step, the tax residence status can be obtained with spending more than 183 days in Georgia or as a High Net Worth Individual.
  • Georgian Tax Residency
During the current tax year, individuals shall be recognized as a tax resident of Georgia if they were actually present on the territory of Georgia for 183 days or more.
  • Georgian Tax Residency for High Net Worth Individuals
For individuals who can not spend 183 days or more in a calendar year in Georgia, there is another way to obtain tax residency. Georgian policymakers introduced a special regime for the granting of Georgian tax residency to high net worth individuals (the “Special Residency Regime”).

For Georgian tax residency purposes, the individual is deemed to be a high net worth individual if:
  • (i) the value of his or her confirmed property (worldwide) exceeds GEL 3,000,000 (three million Georgian Lari)

    or
  • (ii) his or her annual income has exceeded GEL 200,000 (two hundred thousand Georgian Lari) during the last three years (the “High Net Worth Individuals”).
 
DO I HAVE TO RENT AN OFFICE FOR MY COMPANY IN GEORGIA?

Sure, it is advisable to have your own office. First of all, you will need it for a registered address of your company. We recommend choosing an office located in the business area of Tbilisi. Another important point is to have space for your staff to work in, meeting clients, and of course for receiving mails. Whether you need small or spacious office depends on the size of your company and how fast it grows. 

In case if you are not ready yet to own or to rent your own office we have a conclusion for you. CMC provides you with a Virtual Office. The Virtual Office is a service which includes providing an address with a mailbox. You can register your company in Georgia without buying or renting your own office. Our office is located in central Tbilisi. It is a business area close to the Marjanishvili metro (subway)  station.

Also, we provide ready-to-use office space in Tbilisi for rent. Your staff can start to work immediately in the office. It is administrated, fully furnished and has all the necessary office equipment.


 
DO I HAVE TO HIRE STAFF IN GEORGIA?

It depends on your business needs. You can start your business without hired staff and hire people when your business grows. There are no official requirements for the minimum quantity of hired employees in Georgia. 

In Georgia, there are many young and motivated people. The younger generation speaks usually English. The Russian and German languages are also quite popular.

There are many specialists in the IT sector, customer support, hospitality, accounting and others. The average salary in Georgia is around 380 USD. 

 
BANKS IN GEORGIA

Opening a personal bank account in Georgia is a simple process. There is a choice of local and international banks providing bank account openings. The account can be in the following currencies: EUR, USD, GBP or GEL. Internet banking and a VISA or Mastercard Card are also provided.

Banks in Georgia provide very high quality and fast services.

List of popular banks in Georgia: 
  • TBC Bank
  • Bank of Georgia
  • Liberty Bank
  • Tera Bank
  • VTB Bank
  • Cartu Bank
  • Procredit Bank
Based on our experience, Bank of Georgia and TBC Bank offer the most flexible, fast and high-quality service both for local and international customers. 
 
IT BUSINESS AND TECHNOLOGY SECTOR IN GEORGIA

Georgia is working hard to establish itself as a growing hub for information and communication technology. During the last years, many changes and automatization happened in Georgia.

Georgian and international experts worked together to develop an e-Georgia Development Strategy and turned Georgia into an IT-based governance state. The new e-Georgia improved access to e-services for businesses and citizens strengthened transparent and open governance and defined the role of information technologies in administration reform.

Georgia is strengthening its e-commerce industry in order to stimulate what is quickly becoming one of the world’s most important tools of modern trade. TBC Bank was initiating a new digital trade platform which was launched in Georgia in February 2019. This program provides a platform for small and medium entrepreneurs in Georgia as they will be able to distribute their products to Georgian customers online. 
                                                             
There is a new working space which has been opened in September 2017 at a technological centre named Silicon Valley Tbilisi. It is located in Georgia’s capital - Tbilisi. Silicon Valley Tbilisi itself is the large facility and a learning place for children and tertiary students and also home to satellite offices of several of the world’s leading technology firms. Silicon Valley Tbilisi includes an Information Technology Academy, Business and Technology University, a school, laboratory and research centres and a technological incubator. Head of the Business and Technology University Mikheil Batiashvili said the Silicon Valley Tbilisi was planning to implement "important projects” together with its partners - NASA, NATO, IBM, HP. The planned projects are Georgian artificial intelligence, virtual and advanced reality in education, mega data analytics and visualisation, cyber safety and others. 

These new opportunities are important for young people in Georgia to help the country to cement itself on the global map as an innovator country.

 

Contact now

We are glad to answer your questions and to provide detailed information. Contact us now. 

CMC LLC

St. Petersburg street, 1
Chugureti
Tbilisi, 0102
Republic of Georgia
Email: office@georgiacompanyincorporation.com
Whatsapp:  +995 599 204 806
 Youtube:  Tax Insights by Florian Wilk
Copyright by CMC LLC

Email: office@georgiacompanyincorporation.com
Whatsapp:  +995 599 204 806
 Youtube:  Tax Insights by Florian Wilk