Georgia: The Strategic Gateway for 1 Million businesses

Georgias digital advantage for businesses registration.

Exploring business expansion in Georgia represents a strategic opportunity for entrepreneurs and investors. Geogia offers a highly refined environment with business registration process, advantageous tax structure and governmental support for foreign investors. This article will outline the fundamental requirements for setting up business in Georgia.

Georgia has managed to centralize and digitalize the business registration and regulation process through via entities such as: The Public Service Hall, The National Agency of Public Registry (NAPR) and The Georgian Revenue Service. This approach significantly reduces bureaucratic procedures and optimizes efficiency.

The Public Service Hall is operating under the ministry of justice exemplifies Georgia’s “everything in one space concept” delivering more than 500 public and private sector services through a single window system. The Public Service Hall functions as a pivotal intermediary and connecting your request with the right government or private organizations encompassing everything from business and assets registration to management and business compliance support. This is innovative system reduces the typical bureaucratic headache benefiting businesses unfamiliar with local procedures.

Facilitating remote operations in Georgia

Georgias defining feature is for businesses to open and manage remotely, thanks to the excellent digital tools available. platforms such as my.gov.ge facilitate secure and swift digital form submission and electronic signature processes. Furthermore, the Georgian revenue service, responsible for tax administration and customs compliance provides efficient tax filling and payment platforms accommodating foreign bank card transactions for simplified bookkeeping. Additionally, the online platform – rs.ge allows for remote tax management. Notably legal operations can be carried out via an authorized representative, enhancing operational agility.

Considering a scenario: a foreign entrepreneur recognizing Georgia’s favorable tax regime, advanced digital ecosystem and business facilitation opts to establish an enterprise. Rather than psychical travel engagement with the local authorized representative enables business registration via the Public Service Hall’s digital platform often within a relatively short timeline. This process facilitates the acquisition of tax identification number, the establishment of local banking and even property registration, all without physical presence required.

Business growth dynamics

The sustained growth of Georgia’s business averment is further emphasized by the number of new registered businesses which sees a steady increase from 52.100 registrations in 2021 to 78.500 in 2022 according to Geostats, maintaining the pace with 78.800 in 2023 and 75.500 in 2024. This shows strong appeal in ease of doing business in Georgia.

Beyond the figures statistical data shows sustained vitality of the newly registered companies, with the increase growing from 133.800 in 2014 to 288,00 in 2024. The expansion of companies highlights appeal and flexibility of Georgia’s business management system and healthy environment.