Georgia has changed its regulatory framework to increase competition and create a straightforward and transparent process for incorporating. A foreign investor enjoys the same rights and guarantees that are granted to Georgian nationals. This effort to increase efficiency has led to an incorporation process that can be completed within a week.
The key business type in Georgia is a Limited Liability Company - this is the most common form of business entity, offers limited liability to the shareholders and can be incorporated simply and quickly.
To incorporate a Georgian company the following is required for the The Chamber of Commerce & Industry and the Public Registry:
Along with information on the Directors and Shareholders in order to register with the Entrepreneurial Register the signatures of the persons authorised to manage the company must be done in the presence of an official. If not possible the application may be certified by a notary.
There is no minimum share capital requirement for a company in Georgia. The capital of the company is divided into shares and it is not possible to issue new shares after incorporation and the capital must be paid into a Georgian bank account.
A Georgian LLC can be incorporated with a single shareholder, of any nationality and residency and can be either an individual persons or a legal entities. A Georgian LLC can be entirely foreign owned.
Only one director is required for your Georgian company, of any nationality and residency and a work permit or insurance number is not required either.
Three company names must be submitted for approval and the Companies Registry will select the most appropriate. Rules on company names in Georgia are extremely flexible and companies may have similar names as long as the activities differ. We can check that your proposed company name is not already incorporated.
Once incorporated we provide a set of corporate documents for your Georgian company which, includes the Certificate of Incorporation, Memorandum of Association the Articles of Association and Share Certificates. Copies of the company incorporation documents are sent via email and the originals from the companies registry are sent to you in a corporate folder.
It is a requirement for your company to have a registered address in Georgia, this is where documents may be legally served - we can provide a registered office in Georgia.