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Tax-friendly jurisdiction with territorial taxation for individuals
Region
EASTERN EUROPE
Corporate Tax
15%
Setup Time
1 weeks
Currency
GEL
Georgia, at the crossroads of Europe and Asia, has transformed through radical business environment reforms. The country's simplified company registration and low barriers support accessible business setup for entrepreneurs seeking efficiency.
With a population of 3.7 million, Georgia offers affordable living with unique cultural identity. Georgian is the official language, with Russian common and English growing among younger people. Tbilisi provides urban amenities at low cost.
Healthcare is affordable but quality varies. Safety is generally good with low crime rates. The cost of living is among Europe's lowest, attracting digital nomads and entrepreneurs.
The wine tradition, mountainous landscapes, and hospitable culture create distinctive appeal.
Corporate tax under the Estonian model means profits are taxed only when distributed at 15%. Personal income tax is flat at 20%. VAT applies at 18%. This profit retention system strongly benefits reinvesting businesses.
The Georgian lari is freely traded. Free Industrial Zones offer additional benefits. The country has actively pursued free trade agreements with EU and China.
Company registration through the Public Service Hall is remarkably efficient. LLCs can be established in one day. Foreign ownership is unrestricted.
Company formation completes within 24 hours for standard cases. No minimum capital requirements apply. A director is required, who need not be Georgian. Annual compliance is straightforward.
Georgia has emerged as crypto-friendly but without comprehensive licensing. The National Bank has not implemented restrictive regulations. Mining operations have been attracted by low energy costs.
The environment is permissive rather than regulated, lacking formal crypto license frameworks.
The Ministry of Finance regulates gambling. Online gambling has operated in Georgia, though the framework has seen restrictions for domestic players. The gambling license environment is available but involves regulatory attention.
Geographic position brings both opportunity and exposure to regional tensions. The banking system is functional but internationally isolated from some networks. EU association agreement provides market access but not membership.
Professional services are developing but may lack depth for complex matters. Infrastructure varies by region.
Georgia suits cost-conscious entrepreneurs, digital businesses, and companies seeking simple efficient formation for their business setup.
Local: LLC
Local: JSC
Local: Branch
| Corporate Tax Rate | 15% |
| Personal Income Tax Rate | 20% |
| VAT / Sales Tax | 18% |
| Capital Gains Tax | 0% |
| Withholding Tax | 5% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | MEDIUM |
| Currency Controls | NONE |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | No |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | No |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF Travel Rule compliant |
| Business Plan Required | Detailed business plan with description of activities, risk management, and operational procedures required |
| Personnel Required | At least one director must be present in Georgia for minimum 14 calendar days per month; if single shareholder is also sole director, minimum 2 directors required |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | No |
| Registry Public | Yes |
| Registry Access | National Bank of Georgia VASP register |
| Renewal Period | Indefinite (no renewal required unless revoked) |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Monthly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | National Bank of Georgia (NBG) |
| Licensing Fee | $1,500 |
| Licensing Fee Details | Registration fee approximately 1,500 GEL; additional costs for document preparation, translations, and notarizations |
| Permitted Business Models | Exchange, Custody, Wallet services, ICO/STO, Trading platform |
| Permitted Activities | Exchange between virtual assets and fiat, exchange between virtual assets, safekeeping/administration of virtual assets, transfer services, portfolio management, trading platform administration, ICO services |
| Restricted Activities | Anonymous coins prohibited; transactions with persons in FATF blacklisted countries restricted |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Detailed business plan including game rules, payout information, minor protection measures, personal data processing documentation |
| Personnel Required | Local management presence required; responsible gambling officer |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Revenue Service of Georgia |
| Renewal Period | 5 years (annual fees apply) |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Monthly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Revenue Service of Georgia (Ministry of Finance) |
| Licensing Fee | $30,000 |
| Licensing Fee Details | Standard processing 30,000 GEL (5 days); expedited options available. Annual license fees vary by type: casinos, slot salons, sportsbooks have different fee structures. RSI certification fees up to 100,000 GEL for online integration. Gambling tax: 20% GGR from Georgian players, 5% GGR from foreign players |
| Permitted Business Models | B2C (Land-based and Online Casino, Slot Salon, Sportsbook), B2B (Technology providers) |
| Permitted Activities | Casino games, slot machines, sports betting, lottery (state-controlled), online casino, online slots, online sports betting |
| Restricted Activities | Advertising restricted to licensed websites, sports event sponsorships, on-premises displays, and certain international transit points. Players from countries where gambling is prohibited cannot be accepted |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $250,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant |
| Business Plan Required | Comprehensive business plan with 3-year projections, risk management framework, AML/CFT policies required |
| Personnel Required | At least one director must be present in Georgia for minimum 14 days per month; qualified compliance officer; fit and proper requirements for beneficial owners (10%+) |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | National Bank of Georgia Payment Service Provider Register |
| Renewal Period | Indefinite (ongoing compliance required) |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Monthly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | National Bank of Georgia (NBG) |
| Licensing Fee | $0 |
| Licensing Fee Details | No specific license fee; registration and administrative costs apply. EMI/PSP license requires 250,000 GEL minimum capital (approximately USD 92,000). Processing time 1-3 months |
| Permitted Business Models | Payment Service Provider (PSP), Electronic Money Institution (EMI equivalent) |
| Permitted Activities | Money transfers (domestic and international), payment processing, e-money issuance, payment accounts, card issuance |
| Restricted Activities | Banking services (deposit-taking, lending) require separate banking license; currency exchange services have separate requirements |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |