Registration of companies in Georgia
MAIN LAWS ON COMPANY REGISTRATION IN GEORGIA:
The Civil Code of Republic of Georgia (June 26, 1997), the Law of Georgia “On Entrepreneurs” (March 14, 2008), The Law “On Support and Guarantees for Investments” (November 12, 1996).
MAIN BUSINESS LEGAL STRUCTURES IN GEORGIA:
- Limited Liability Company (LLC).
- Joint-Stock Company (JSC).
- Representative Office/Branch.
To choose which legal structure of business is best for you, you can order us to carry out a legal research, where we compare pros and cons of business in Georgia, as well as tax burden of a certain legal structure.
NAME OF AN LLC IN GEORGIA:
The name of an LLC must be Georgian (one may use the Latin alphabet in the signs). In Georgia different companies can have the same names, but the registration numbers and kinds of activities must be different.
MINIMUM AUTHORIZED CAPITAL OF AN LLC IN GEORGIA:
There are no requirements as to the minimum authorized capital of an LLC in Georgia.
MAIN SERVICES OF REGISTRATION OF A COMPANY IN GEORGIA:
- Preparation of constituent documents of an LLC;
- Registration of a company in registration authorities;
- Ordering and receiving of a seal;
- Registration of data on the companies in extra-budgetary funds;
- Opening of current accounts in Georgia and abroad.
BACKGROUND DATA REQUIRED FOR REGISTRATION OF AN LLC IN GEORGIA*:
- Company name;
- Registered address (can be provided by us);
- Participant’s data (name, citizenship, passport/company’s constituent documents, tax identification number);
- Amount of the authorized capital;
- Kinds of activities;
- Chosen bank in Georgia and kinds of accounts to be opened therewith;
- Information about the taxation system (common, simplified);
- Other documents and data at the request of the experts of ALPS & CHASE.depending on the nature of business.*
* All of the documents must be provided in advance, so we have time to translate them into Georgian.
All provided documents must be notarized and legalized in Georgian Embassy of a participant’s (shareholder’s) country or apostilled according to Hague Convention of 1961 by the relevant authorities after notarization.
For the participants from CIS countries (Russia, Belarus, Uzbekistan, Tajikistan, Armenia, Ukraine, Kyrgyzstan, Moldova, Turkmenistan, Azerbaijan, and Georgia), no apostilization or legalization of the documents is required according to the Minsk Convention on Legal Assistance and Legal Relations in Civil, Family and Criminal Cases (dated January 23, 1993) (note – depending on the kind of legal actions, there can be some exceptions).
PRESENCE OF THE PARTICIPANTS DURING REGISTRATION OF A COMPANY:
Presence of the founders is not mandatory. The main registration activities will be performed by our experts under a Power of Attorney. The presence of the Director General is necessary only at the time of opening of accounts with a Georgian bank. Deputy Director General can have the second signature in a signature card, if he/she is on the company's staff.
TERM OF REGISTRATION OF AN LLC IN GEORGIA:
Registration of an LLC is Georgia can take 1-2 days upon submission of the documents to the Justice House. An accelerated registration performed on the same day is possible for an additional fee.
APPOINTMENT OF THE GENERAL DIRECTOR IN GEORGIA
You can appoint either a citizen of Georgia or a foreign citizen to a position of the Director General. A foreign citizen working in the territory of Georgia must not obtain a work permit.
However, if you need the permanent presence of a Director General for settlement of administrative matters, our company will provide you with the service of temporary directors in Georgia. Such directors can perform various tasks, interact with the tax inspectorate, customs or the banks. The main requirement to use this service is a complete legality of the client’s business.
OTHER SERVICES IN THE AREA OF REGISTRATION OF A BUSINESS PRESENCE IN GEORGIA:
Registration of Representative Offices and Branches in Georgia
Registration of a Permanent Establishment in Georgia