Use GIC to create a global springboard and enjoy major benefits i.e. the above tax incentives in Georgia
Get a Special Economic Status for your new tech company in Georgia
Open a Tech Company
with
Business Accounts
(50+ currencies SWIFT / IBAN)
& GIC will handle Tax-filing, Accounting services etc.
Starting at €549 / month
We take care of administration, so you can focus on your core business activities
- Limited Liability Company**
- Special Economic Status:
- SWIFT / IBAN
- 50+ currencies
- 0% dividend tax
- 5% salary tax on employees
- 5% corporate income tax*
- Limited Liability Company**
- Special Economic Status:
- SWIFT / IBAN
- 50+ currencies
- 0% dividend tax
- 5% salary tax on employees
- 5% corporate income tax*
- Paid only when profit is distributed
- Remote registration possible
More about why Georgia & GIC likely is the right springboard for your international venture
Why Georgia?
Located in the Caucasus region, Georgia serves as a strategic crossroad connecting Europe and Asia. The country presents a range of advantageous tax incentives to businesses operating within its borders.
Georgia is also ranked as the 7th most easy place of doing business out of 190 countries. Georgia Innovation Centre (GIC) is here to make it even more easy and attractive to choose Georgia as a jurisdiction and springboard for international ventures.
A few clear taxation benefits to highlight:
- Corporate Income Tax is only levied upon distribution of dividends
- Corporate Income Tax is just 15% standard, which can be reduced even further to only 5%, if you are a marine or tech company and qualify for obtaining the Special Economic Status (Several free zones also exist).
- Tax services are 100% online
- For smaller businesses or sole proprietorships taxes are as low as 1%
- Personal Income Tax is 20% with a few exceptions like the Special Economic Status, where it's reduced to 5%.
- VAT 18%
- VAT reverse charges 18%
Withholding taxes
- Royalties - 5% (applicable for payment to both residents and non-residents)
- Interests - 5% (applicable for payment to both residents and non-residents)
- Dividends - 5% (applicable for payment to both residents and non-residents)
- Service Payments - 20% (applicable for payment to residents non-registered natural persons)
- Service Remunerations to Non-Residents - 10% (except rental by non-resident f/ non-living purpose - 20%)
Georgia has signed the double taxation treaty with 56 states so far and most of them exempt the Georgian taxpayers from withholding tax obligation on the above-mentioned payments.
GIC services are aimed at providing entrepreneurs and businesses with:
- One-stop-shopping
- Seamless & hassle-free process for company registration and business accounts creation
- Bookkeeping, accounting, statutory reporting, tax- & legal advice, virtual & physical office.
- Global compliance solutions for hiring contractors and remote employees
- All possible from the comfort of your home or office
GIC is a turn-key service provider for company formation including business payment account, all possible from the comfort of your home remotely!
We are a registered and multi-licensed company formation service provider, licensed by the Georgian (country) authorities.
At GIC we take care of your company administration, so you can focus on your core business activities.
Distributed & Hybrid Workforce?
Are you combining full-time employees
with subcontractors?
If you as many of our other IT & Tech clients are having a distributed workforce, where you have full-time employees and subcontractors combined. Likely distributed geographically, fully or partly working remotely in a hybrid model,then you can enjoy even more benefits, from combining our solutions.
Improve retention of talent by offering:
- 5% tax regime for your full-time employees on their salaries
- 1% tax regime for your part-time subcontractors on their income
Check out our Individual Entrepreneurship solution for subcontractors here, or contact us for more information
100% Money Back Guarantee
If your new company, and opening of your business accounts, have not been created within 30 days after receiving required documents, we will refund your payment 100% in full.
SES application handling exempt, as duration can be longer
Check eligibility - 1 minute
Answer a few questions to see if you are eligible for Premium Tech+
Business activities
Choose just one activity, which best describes your intended business activities
Qualifying activities - Which of the following activities best describe your intended business activities ?
Required field!-
Software release;
-
Releasing of computer games;
-
Releasing of other software;
-
Computer programming, consulting and related activities;
-
Computer programming activities;
-
Consulting activities in the field of computer technology;
-
Computer management activities;
-
Other activities related to information technologies and computer services;
-
Production and / or delivery of digital products, including software support and delivery of updated versions of software;
-
Website development and / or delivery;
-
Web hosting, remote maintenance of software and hardware;
-
Software and related updates;
-
Provide images, texts and information to ensure access to a database;
-
Remote system administration;
-
Online delivery of allocated memory capacity;
-
Grant access to or download software (including purchasing / accounting software or antivirus software) and updates;
-
Banner ads blocking programmes;
-
Download drivers, such as software that connects computers to peripherals (such as a printer);
-
Automatic online installation of filters on websites;
-
Automatic online installation of firewalls;
Revenue Origin
Source of Revenue
Required field!Operational Experience
The applying company must be a Georgian enterprise or a foreign enterprise operating in the relevant sectors for a minimum of 2 years
-
New Georgian company as parent company Does your company represent a foreign (non-resident) enterprise that has operated in the relevant sectors (previous business activities page) for more than 2 years?
-
Foreign company as parent company Do you have a parent company to your new Georgian company, which have 2+ years of experience in the qualifying sectors and which will own more than 50% of the new Georgian company?
-
Other structure
Congratulations!
If you could answer yes to at least 1 option on each page, then you are likely to obtain a Special Economic Status. If not, then please do not hesitate in contacting GIC for a free consultation, for us to assess your eligibility in detail..
If instant messenger preferred, please list
Required field!Premium Tech+
€549 / month
paid annually
month to month - €689 / month
Company Registration
VAT Reporting
Business Accounts (Pay&Get Paid)
Tax Reporting
Office Address & Phone No.
Mail & Scan Forwarding
Multi-shareholder KYB & registration
Employee Registration & Payroll accounting**
Accounting*
Global Contractor Compliance Management**
Multi-Currency
Online Company Manager
15% > 5% reduced Corporate Income Tax
Application handling for Special Economic Status
5% > 0% reduced Dividends Tax
Maintenance of Special Economic Status
20% > 5% Personal income tax on employee salaries
Mandatory statutory filings
> Check if you are eligible for the favorable Special Economic Status and order here below <
Read more - GIC, a licensed operator of the Special Economic Status
GIC frontiering tech-zone
Georgian Innovation Centre LLC (GIC) has signed a pro-business agreement with the Revenue Services of the country Georgia. The agreement enables GIC to become the frontier of attracting technology companies to Georgia, offering an efficient onboarding route for entrepreneurs seeking Special Economic Status, where technology companies can benefit from an attractive corporate tax rate of only 5%, maximizing profitability, fostering innovation, and contributing to a thriving technology ecosystem. In addition, as an incentive to knowledge transfer and further develop the local talent, a flat rate of 5% personal income tax is applicable for non-resident employees of the status eligible companies.
Summary of benefits
1. Low Corporate Tax:
Companies operating within the SES are subject to a significantly reduced corporate tax rate of just 5%. This rate is considerably lower than the standard 15% corporate tax levied in Georgia.
2. Dividends Tax Exemption:
While the standard dividends tax in Georgia is 5%, companies with the SES status are exempt
and subject to 0% dividends tax. This exemption provides substantial savings for businesses and their shareholders.
3. Reduced Tax Withholding on Employee Salaries:
The SES offers a reduced tax withholding rate of only 5% on employee salaries, compared to the standard 20% rate in Georgia. Additionally, employees who are legal residents of Georgia benefit from the standard 2%+2% pension contributions.
4. Tax-Free Reinvestment of Profits:
Companies within the SES can reinvest their profits incurring 0% tax liabilities. This favorable policy encourages businesses to reinvest and expand their operations within Georgia.
5. Property Tax Exemptions:
The SES also provides a 0% property tax regime (excluding land) for international companies using properties for their permitted activities. This exemption further contributes to the cost-effectiveness of establishing operations in Georgia.
Are you eligible?
Book a free consultation
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Date
Time
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Didn't qualify? Not to worry, you can still benefit
Even without the Special Economic Status for qualified Tech Companies, Georgia is still a favourable jurisdiction, which benefits is exemplified by:
✓ Just 15% Corporate Income Tax (CIT)
✓ CIT is only levied upon distribution of profits
✓ Withholding taxes on i.e. Royalties, Interests, Dividends are just 5%
Georgia has signed the double taxation treaty with more than 50 countries, where most exempt Georgian taxpayers from withholding tax obligation on above-mentioned payments.
Book a meeting with us and see if you qualify for some of the many free-zones available!
Starter LLC
€199 / month
paid annually
month to month - €249 / month
Company Registration
Business Accounts (Pay&Get Paid)
Accounting*
Tax Reporting
Office Address & Phone No.
*Max 10 transactions / month
15% Corporate Tax, only paid upon dividend distribution
(50+ currencies SWIFT / IBAN)
Choose payment plan
Growing LLC
€299 / month
paid annually
month to month - €375 / month
As Starter LLC plus:
Accounting*
VAT Reporting
Multi-Currency
Employee Registration & Payroll accounting**
Mail & Scan Forwarding
*Max 25 transactions / month
**Max 10 employees
15% Corporate Tax, only paid upon dividend distribution
(50+ currencies SWIFT / IBAN)
15% Corporate Tax, only paid upon dividend distribution
(50+ currencies SWIFT / IBAN)
Choose payment plan
Premium LLC
€399 / month
paid annually
month to month - €499 / month
As Growing LLC plus:
Accounting*
Multi-shareholder KYB & registration
Online Company Manager
Global Contractor Compliance Management**
*Max 100 transactions / month
**1st Contractor & Platform included
15% Corporate Tax, only paid upon dividend distribution
(50+ currencies SWIFT / IBAN)
Choose payment plan
In short
How we work
We receive request
GIC receives your request to register legal entity with associated business accounts.
You receive invitation with request for information, allowing GIC to advise on optimal onboarding
Online meeting
You receive invitation to an online meeting, where GIC will advise on optimal onboarding and potential eligibility for requested solutions. Here the further steps will be aligned
Company formation
Agreed services and solutions are confirmed by an order confirmation, whereafter GIC will register your new legal entity and open business accounts
Office
Whether you need a physical or virtual office, we have a range of options to offer. GIC works with the largest and first coworking space provider in Georgia
Administrative & Corporate Secretarial Services
Accounting Services
Our subscription plans typically includes the most basic accounting needs, whereas we are naturally able to tailor our accounting services to your needs
Mail forwarding
Through a mandate from you, we will be able to receive and forward mail correspondence, which can be either electronic or postal
Statutory Reporting
As GIC is licensed and certified by the tax authorities, we have a vast experience in processes and have direct access to portals, as well as payment gateways, for monthly and annual statutory reporting
Registry Services
As a Licensed Registrar, we can make changes in your company on your behalf. Change of directorships, shareholdings, or simply obtaining an up to date company extract. All subject to having a granted mandate by you through Power of Attorney.
Other services
Should you have other administrative or corporate secretarial needs, please do reach out to us, and we will do the best to meet your needs, so you can focus on your core business activities
"We are a global SaaS company and is expanding into Eastern Europe, where we also has been sourcing tech talent from. GIC advised us to spin off our R&D division in order to qualify for a reduced corporate tax rate.
Our new company subsidiary was set up and operational in a matter of days and as a bonus, we have gotten access to additional highly skilled tech talent in Georgia"
Marcus Lehmann
CFO, CFI Enterprises
"At CloudSolutions we are providing cloud-services and were facing challenges in serving our clients in Central Asia and Eastern Europe, as our pricing was inflated due to withholding taxes.
GIC advised in setting up a representative office, which allowed us not only to become competitive on pricing, but as a bonus, we got closer to serve our clients in local currencies and additional two local languages, which has improved client retention. "
Emma Andersson
CBDO, CloudSolutions
Frequently Asked Questions
How long does it take to open a company?
How long does it take to open a company?
In most cases, the whole process takes 2 business days and includes registrations with the Public Registry and the Revenue Service. If you will register remotely via a Power of Attorney without visiting Georgia, then delays might occur for certain nationalities, where a advance requirement is to acquire the apostilled translated / legalisation of your documents, and to then send them by mail to us. Get in touch and we will advise.
Do I need to renew my company registration annually?
Do I need to renew my company registration annually?
No, your company registration is indefinite and there are no annual renewal fees or procedures currently (legislation might change). Maintenance of your company however will be subject to your business activities and complexity of such. Georgia is however a relatively low cost jurisdiction when it comes to maintenance of a company. Choose the right option for you among our value added subscription service packages and it is all taken care of. See more here!
Can I open my new company from abroad?
Can I open my new company from abroad?
Assuming that all paperwork for the registration process is ready at hand and done correctly at your end, then it is a very smooth process. Georgia is on many fronts both accepting and complying to international standards, in particular EU and the US, although not operationally integrated, which means that clients with citizenships of countries where apostille isn't required, usually experience a faster acceptance, rather than clients with citizenships inside of the aforementioned regions. Book a free consultation to get a clear timeline for your specific company.
What if we are multiple shareholders / founders of the new company?
What if we are multiple shareholders / founders of the new company?
Having multiple shareholders / founders of your company requires in principle the same process and can be as easy as the above mentioned. However, the assumption of having all the paperwork for the registration process ready and done correctly, requires a timely coordination between yourselves and your respective government agencies. And timing will vary on speed of completion for legalising your respective documents. You might consider having one founder initially and then later on distribute ownership shares through shareholder resolutions, which we also can assist with.
What is a PoA (Power of Attorney)?
What is a PoA (Power of Attorney)?
Our services are designed for you to be able to both register and run your company remotely, which in turn means that authorities and banks would need to recognise that you have granted us the permission to both create your company and associated bank account(s) on your behalf. The PoA means that you grants us this permission and it is included in the registration fees. You will receive the bilingual PoA for your signature, when placing the order with us.
The PoA and your passport will need to be notarised & apostilled within the first couple of months after registration and can normally only be done by specific government agencies - (please check with your local government agency about time to complete). Once that is done, the hard copies of those apostilled documents must be sent to our offices in Georgia. Once received we will get them notarised at the Georgian notary. After which, we will provide the local authorities with the document and your company is considered fully compliant in terms of Know Your Business standards.
Will it be costly and difficult if I need to wind down (de-register) my company later?
Will it be costly and difficult if I need to wind down (de-register) my company later?
No, winding down or de-registering a company in Georgia is a simple process, which takes about the same time as registering a company. This means that it can be done in 1-2 days, assuming all documents are ready and legalized (if required). The costs of this is at the time of writing around Euro 150 (subject to change of government fees).
About GIC
Turn-key company formation including corporate bank account, all possible from the comfort of your home remotely!
Our company, GIC [Georgian Innovation Centre], is a registered and multi-licensed company formation service provider to the country Georgia. Our services are aimed at providing entrepreneurs and businesses with a one-stop-shopping, seamless, hassle-free process for company registration and business accounts creation, all possible from the comfort of your home or office.
At GIC we take care of your company administration, so you can focus on your core business activities.
Georgian Innovation Centre LLC, 1 Vasil Petriashvili Street, Tbilisi 0179, Georgia
Contact us using the messenger function, or reach out on gic@gic.bz
© Copyright - Georgian Innovation Center LLC, all rights reserved 2023