5 ventajas para iniciar un negocio en Georgia

Are you tired of paying high business tax? Are you discouraged with the huge bureaucratic process required to operate a business in the EU?

As a business operating in Europe you can relate to high tax bills and endless amounts of licenses and bureaucratic paperwork for doing the simplest of tasks. If you start a business in Georgia is that the solution?

Operating a location independent business in Europe now requires that you acquire the  competitive edge that can separate you from success and failure.

But Where Can You Find This Competitive Advantage In Today’s Business World?

Georgia has quietly become a stable and pro-business country since becoming an independent state. Being an European Union applicant and located on the old historic Silkroad between Asia, Europe and Africa Georgia also has a strategic location for manufacturing and shipping. Starting your business in Georgia can give you and your business the advantage you are looking for. Read more below to learn more about the Georgian business advantage.

Why Georgia Has A Competitive Advantage In Europe

• Georgia has low taxes
• Georgia follows Estonian Tax Model
• Georgia is ranked 9th in the world and 1st in Europe for ease of doing business
• Georgia is ranked fourth in the world for ease of starting a business
• Registering property in Georgia 4th easiest place in the world
• Georgia is located in a strategic location next to Asia, Africa and Europe
• Georgian banks are safe and stable 
• Georgian banks include three currency accounts as standard USD, Euro, Lari
• Georgian banks pay high interest

Save Profit By Not Withdrawing From Company and Reinvest

The Georgian tax model is the same as the Estonian tax model. There is a 15% corporate profit tax but is only paid if the money is withdrawn from the company. So for capital intensive companies requiring R&D, inventory and other capital intensive procedures this tax saving can be a huge advantage.

Why Start A Business in Georgia Is Easier

Georgia ranks 9th in the world for ease of doing business because of several measures introduced through legislation.

Minutes and monthly audits are not required  for companies with income originating outside of Georgia. Saving time and money with accounting.

Furthermore, the Tax Code of Georgia gives an opportunity to the companies to use accelerated depreciation on capital assets (including full deduction during the first year) and loss carry forward for corporate profit tax purposes (10 years).

Nowadays, Georgia has Double Taxation Avoidance Treaties with 52 countries and there’s no restrictions on currency convertibility or repatriation of capital and profit.

 According to the Economic Liberty Act, the Government is not allowed to increase national tax rates (except excise tax) or number of taxes without a national referendum.

Georgia has a strategic location for business owners as it lies right on the original Silkroad used hundreds of years ago by traders between Asia and Europe and Africa.  

Ease of setting up a business would not be complete without stable banking and financial  institutions. Two of the more established Georgian banks (TBC Bank and Bank of Georgia) are both traded on the London stock exchange and their clearing house is in Barclays in London. 

Not only is your money safe but you can collect high interest rates on debit card accounts and term deposits. High interest rates can be earned on term USD, Euro and Pounds balance as well. The Georgian currency the Lari is also stable  as currencies around Georgia have become devalued over time. (Russian Ruble, Turkish Lira, Armenian Dollar)

Conclusion

Georgia has quickly become a preferred destination of  location independent business owners around the world. Ease of doing business, low taxes, stable banking, Estonian tax model and no bureaucratic paperwork  gives you the advantage in today’s ever competitive business world.