The Power of Doing Business in Georgia - Unlock New Markets with Paysera Bank
Georgia at a glance
With favorable conditions and attractive tax incentives for entrepreneurs, Georgia stands out as a top destination for business. According to The World Bank Group, Georgia ranks as the 3rd least tax-burdened country in the world, with a total tax rate of just 9.9% of profits. Positioned at the crossroads of Europe, the South Caucasus, and Central Asia, Georgia’s strategic location makes it a natural gateway between East and West. Its capital, Tbilisi, thrives along the historic Silk Road, offering the shortest and most efficient trade route between Europe and Asia, making it an essential hub for international business.
In 2023, Georgia's candidacy for European Union membership further enhanced its global standing. This critical milestone not only highlights the country’s political and economic stability but also opens up expansive growth opportunities for businesses seeking to tap into new markets within the EU and beyond.
Georgia boasts one of the region’s most stable and innovative banking systems, offering secure and efficient financial services that cater to global business needs. Whether you're expanding or establishing your operations, you can count on a robust financial infrastructure designed to support international business.
The country also provides all the necessary professional resources for smooth company setup and operations. From skilled accountants and legal advisors to experienced executive directors, Georgia is equipped to help businesses succeed. With English and German widely spoken, Georgia’s labor force is globally connected, making it easy to integrate into international markets and collaborate across borders.
In Georgia, you’ll find more than just a place to do business—you’ll discover a strategic partner for growth.
Favorable tax regime
Georgia offers a highly favorable tax regime that makes it an attractive destination for businesses and individuals alike. For companies, the corporate profit tax is incredibly advantageous, with a 0% tax on retained profits and only 15% on distributed profits. This allows businesses to reinvest in their growth without the burden of heavy taxation.
On a personal level, income tax is also competitive. Dividends are taxed at just 5%, while personal income tax on salaries is capped at 20%, ensuring that individuals retain more of their earnings.
VAT is only applicable to goods and services sold within Georgia, providing further relief to businesses with an international reach.
For IT firms, Georgia goes a step further with its "International Company Status." This special designation offers unparalleled tax benefits, including a reduced 5% corporate tax, 0% on dividends, and just 5% personal income tax for employees. This creates the perfect environment for tech companies looking to expand while minimizing their tax liabilities.
Legal support and consultation
Imagine having access to a network of reputable and successful consulting and legal firms, ready to guide you through every step of your business journey. From initial consultations to complete business registration, these professionals offer comprehensive services tailored to your needs. And if you're unsure where to start, we can recommend trusted partners who will provide the support you need.
With their help, you'll breeze through the process. Preparing documents and registering your company is straightforward, with one-time fees ranging from $700 to $1500. Once everything is in order, your business can be up and running in just 1 to 5 working days.
Ongoing legal support and accounting services are also available, starting at $400 to $1000 monthly for legal services and $500 to $1500 for accounting. For companies looking to ensure compliance, tax audit services are offered for $500 to $1500 per month.
Of course, these services are entirely optional. Georgian legislation makes it possible for companies to manage the entire process on their own, even remotely. Thanks to platforms like mygov.ge and rs.ge, you'll have complete control over your tax and business registration affairs with ease.
Experience seamless business registration in Georgia with multiple convenient options tailored to your needs:
- Register effortlessly through an authorized representative at the Ministry of Justice or the National Public Registry Agency;
- Utilize a power of attorney for hassle-free remote registration;
- Visit the modern Houses of Justice for in-person registration under the Ministry of Justice;
- Alternatively, complete your registration at any territorial office of the National Public Registry Agency.
Choose the option that best suits your schedule and start your business in Georgia with ease!
Paysera Bank offer
At Paysera Bank JSC, we’re proud to be pioneers in the region’s digital banking landscape. Since our establishment in 2022, we’ve made waves by securing our banking license on November 17, 2022, becoming the first fully licensed digital bank in Georgia. Backed by the extensive experience of the Paysera network, which has been a trusted name in the EU for over 19 years, we’ve seamlessly merged local and European banking services to provide an unmatched financial experience.
Imagine a bank that effortlessly connects Georgia and Europe in a single digital platform. At Paysera Bank, we’re the only ones in the region offering both Georgian (GE) IBANs and EU IBANs, allowing you to operate with the flexibility and ease of two financial worlds. Whether you’re a local business looking to expand or an international company with a presence in Georgia, we provide the infrastructure to manage your finances efficiently, benefiting from the security of Georgian jurisdiction while leveraging the European settlement system.
Our services are designed with businesses in mind. Say goodbye to the hassle of traditional banking; our fully digital onboarding allows you to open an account in just three banking days, without ever leaving your office. We understand that time is money, so we’ve streamlined the process to be as fast and free as possible.
With Paysera Bank, your business gains access to both Georgian and European IBAN accounts, empowering you to operate across multiple jurisdictions effortlessly. You can send and receive transfers in over 20 currencies worldwide, using international systems like SEPA, Target2, and SWIFT. To top it off, we offer the best foreign exchange rates, ensuring that your global transactions are both smooth and cost-effective.
We know that modern businesses require more than just banking, which is why we’ve opened our platform for seamless integration. Our API services allow you to connect your banking data directly with your accounting systems, automating tasks and saving you valuable time. Whether you’re in e-commerce or retail, our robust payment gateway supports a variety of payment methods, ensuring your customers can pay with ease, anywhere in the world.
We’re also the first bank in Georgia to offer Payment Initiation Services (PIS), a game-changer for businesses. This feature allows you to initiate payments directly from your customers' bank accounts, making transactions faster, simpler, and more convenient.
Add to all, our round-the-clock customer support in English, along with assistance in 16 languages during working hours, and you have a banking partner that truly understands your needs.
At Paysera Bank Georgia, we’re more than just a bank. We’re your gateway to seamless, innovative, and global banking solutions, tailored to your business, wherever you are.
Additional Resources:
https://www.investingeorgia.org/
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