Georgia, with its strategic location, business-friendly environment, and ease of doing business, has become an attractive destination for entrepreneurs and investors. If you’re considering opening a company in Georgia, this post will walk you through the necessary steps to get your business up and running.
Step-by-Step Guide to Opening a Company in Georgia
- Choose and check company name availability: First, select a unique company name and verify its availability through the National Agency of Public Registry (NAPR) website.
- Register with NAPR: Submit the required application form and documents, such as ID copies of founders and proof of address, to NAPR. Pay the registration fee, which varies based on the type of company you are registering.
- Obtain a tax identification number (TIN): Within 30 days of registering your company with NAPR, acquire a TIN from the Revenue Service of Georgia.
- Register for VAT (if applicable): If your company’s annual turnover exceeds GEL 100,000, register for value added tax (VAT) with the Revenue Service of Georgia within 10 days of surpassing the threshold.
- Register for social security contributions: Within 30 days of registering your company with NAPR, sign up for social security contributions through the Social Service Agency of Georgia.
- Open a Georgian bank account: Establish a bank account for your company in Georgia to facilitate business transactions.
- Obtain necessary licenses and permits: Depending on your business activity, you may need additional licenses or permits from relevant authorities.