Business & Taxes
How to Open an LLC in Georgia: The Complete Guide for Foreigners
Learn how to open an LLC in Georgia as a foreigner. Step-by-step guide covering registration, taxes, bank accounts, and everything else you need to know.
Georgia has become one of the easiest countries in the world for foreigners to start a business.
Sitting at the crossroads of Europe and Asia, this small Caucasus nation offers what few places can match: LLC registration in 1-2 days, zero minimum capital requirements, no need for residency or local partners, and a tax system that only charges you when you take money out.
For IT companies, there's even a legal way to pay 0% corporate tax.
In this article, we’ll cover everything you need to know to open an LLC in Georgia.
Quick Summary:
Foreigners can register a Georgian LLC without residency, local partners, or minimum capital
Registration takes 1-2 business days and costs around 200 GEL (approximately $75)
Corporate tax is 15% only when profits are distributed - retained earnings are tax-free
IT companies can apply for Virtual Zone status with 0% corporate tax on foreign income
Bank account opening has become more challenging for foreigners and may require in-person visits
Why Open an LLC in Georgia?
Georgia consistently ranks among the world's easiest places to do business. The World Bank has placed it in the top 10 globally for ease of starting a business, and for good reason.
The country sits at a strategic location connecting Europe and Asia, with free trade agreements covering the EU, China, Turkey, and CIS countries. This means your Georgian company can access diverse markets with reduced tariffs.
From a practical standpoint, here's what makes Georgia stand out:
No minimum share capital. You can register an LLC with zero capital - just pay the government filing fee.
100% foreign ownership is permitted. You don't need a local partner or nominee director.
Registration is fast. The entire process takes 1-2 business days if your documents are in order.
The tax system rewards reinvestment. Georgia uses an "Estonian model" where corporate income tax (15%) only applies when you distribute profits as dividends. Keep money in the company, and you pay nothing.
Low operating costs. Office space, local staff, and professional services cost a fraction of what you'd pay in Western Europe or North America.
Need Liability Protection? Open an LLC.
Professional setup in 5 days
15% profit tax only on distributions, room for multiple owners. We prepare documents, register at Public Service Hall, and set up your tax accounts. You just bring your passport.
Free Consultation
Fully Compliant
5-Day Setup
LLC vs. Individual Entrepreneur: Which Is Right for You?
Before registering, you need to decide on the right structure. Georgia offers two main options for foreign entrepreneurs.
Limited Liability Company (LLC)
An LLC is a separate legal entity. Your personal assets are protected if the business runs into debt or legal trouble. This is the standard choice for most foreign entrepreneurs, especially those planning to:
Work with multiple founders or investors
Generate higher turnover
Apply for Virtual Zone status (IT companies only)
Hire employees
Build a company they might sell later
LLCs pay 15% corporate income tax - but only on distributed profits. If you reinvest earnings back into the business, you pay 0% until you take money out.
Individual Entrepreneur with Small Business Status
If you're a solo freelancer or consultant earning under 500,000 GEL annually (roughly $185,000), the Individual Entrepreneur (IE) route with Small Business Status offers an even simpler option: just 1% tax on gross turnover.
The catch? No liability protection. Your personal assets are on the line if something goes wrong. And certain professions don't qualify - legal services, medical work, architecture, tax consulting, and advisory services are excluded.
For most solo digital workers serving foreign clients, the 1% rate is hard to beat. But if you need liability protection, plan to scale, or want Virtual Zone status, go with an LLC.
Documents Required to Register a Georgian LLC
Gathering the right paperwork upfront saves headaches later. Here's what you'll need:
Passports of all directors and shareholders. Bring originals if registering in person. For remote registration, you'll need notarized and apostilled copies.
Company charter (Articles of Association). This document outlines your company's structure, ownership, and operating rules. A bilingual charter in Georgian and English is strongly recommended - it prevents translation issues down the road and makes banking easier.
Defined business activities. You'll need to specify what your company does. Be thorough but accurate - adding activities later requires additional filings.
Legal address in Georgia. Every LLC needs a registered address. This doesn't have to be a physical office - virtual office services are widely available and perfectly legal, typically costing 350-500 GEL per year.
Power of Attorney (if registering remotely). If you can't visit Georgia in person, you'll need a POA authorizing someone to register the company on your behalf. This document must be notarized and apostilled in your home country, then sent to Georgia.
Step-by-Step LLC Registration Process
Want to fast-track the process? At Tbilisi Expat, we specialize in helping foreigners register an LLC in Tbilisi fast & easy. You can get in touch here, or just keep reading!
Step 1 - Choose Your Company Name
Your company name must be unique in Georgia. You can check availability through the National Agency of Public Registry's online database or simply ask when you arrive at Public Service Hall.
Names can be in Georgian, English, or both. Most foreign-owned companies register bilingual names. Avoid names that are too similar to existing companies or could be confused with government entities.
Step 2 - Prepare Your Documents
Draft your company charter. This is the most important document - it defines ownership percentages, director powers, decision-making processes, and what happens if shareholders disagree.
Georgia doesn't provide a standard template, so you'll need to create one. Getting this wrong can cause problems later, especially with banks or if disputes arise between partners.
If you're registering remotely, prepare your Power of Attorney and get your passport copy notarized and apostilled. The apostille must come from the appropriate authority in your home country (in the US, this is typically the Secretary of State).
Step 3 - Visit Public Service Hall (or Register Remotely)
In-person registration: Head to the Public Service Hall (also called Justice House) with your documents. The main Tbilisi location is at 2 Zviad Gamsakhurdia Embankment. Bring your passport, charter, and payment.
Standard processing takes one business day. Same-day service is available for an additional fee.
Government fees:
Standard registration: 200 GEL (~$75)
English language extract: 26 GEL
Expedited same-day service: additional 50 GEL
Remote registration: Your representative in Georgia submits the documents on your behalf using your Power of Attorney. Processing time is the same, but factor in shipping time for your apostilled documents.
Step 4 - Register with Revenue Service
Once your LLC is registered, you'll receive an identification number. This serves as your tax ID. You'll need to register on the Revenue Service portal (rs.ge) to file tax declarations and manage your tax obligations.
The RS.ge portal is only in Georgian, which trips up many foreigners. You'll use this system monthly, so bookmark it or work with a local accountant who can handle filings on your behalf.
Step 5 - Open a Corporate Bank Account
This is where things get tricky for foreign-owned companies. We cover this in detail below.
Want to skip the paperwork and language barriers? Tbilisi Expat handles the entire registration process - from bilingual charter preparation to Public Service Hall filing and Revenue Service setup. Contact us to make your LLC registration stress-free.
Understanding Georgian LLC Taxes
Georgia's tax system is straightforward once you understand the basics.
Corporate Income Tax
The headline rate is 15%, but here's the important part: you only pay this when profits leave the company. Retained earnings sitting in your business account? Zero tax. Reinvested into equipment, salaries, or growth? Zero tax.
This "Estonian model" means profitable companies that reinvest aggressively can operate tax-free for years.
Dividend Tax
When you do distribute profits to yourself or other shareholders, the company pays 15% corporate income tax at the time of distribution. Individual shareholders who are Georgian tax residents then receive their dividends tax-free (the corporate tax covers it). Non-resident shareholders face a 5% withholding tax on dividends.
VAT
The standard VAT rate is 18%. Registration is mandatory once your taxable turnover exceeds 100,000 GEL in any 12-month period. Below that threshold, registration is optional.
Exports of services to foreign clients are generally zero-rated, meaning you don't charge VAT but can still reclaim VAT on your Georgian expenses.
Personal Income Tax for Employees
If you hire staff in Georgia, you'll withhold 20% income tax from their salaries and remit it to the government. This is the employer's responsibility.
Virtual Zone Status: 0% Tax for IT Companies
For technology businesses, Georgia offers something special: Virtual Zone status. Companies with this designation pay 0% corporate income tax and 0% VAT on services exported to foreign clients.
Who Qualifies?
Virtual Zone status is available to Georgian LLCs engaged in information technology activities - software development, IT consulting, web development, app creation, and similar services. The key requirement: your clients must be outside Georgia.
What You Get
0% corporate income tax on foreign-sourced income
0% VAT on exported IT services
5% dividend tax when you distribute profits
The Catch: Economic Substance
Getting approved has become harder since 2020. The Revenue Service now looks for genuine economic presence in Georgia. Solo founders with no local staff or office face high rejection rates.
To improve your chances, you'll typically need:
A real office or coworking space in Georgia
Local employees (even one technical staff member helps)
Evidence that work is actually performed from Georgian territory
Active contracts with foreign clients
Application Process
After registering your LLC, submit an application through the RS.ge portal or directly to the Financial Analytical Service. Include your company details, description of IT services, and proof of foreign client relationships. Approval typically takes 10-30 days if your application is complete.
If you're a solo developer hoping to get Virtual Zone status without any Georgian presence, be prepared for rejection. The program works best for companies genuinely building operations in Georgia.
Opening a Business Bank Account in Georgia
This is the part most guides gloss over, but it's where many foreigners hit unexpected roadblocks.
The Reality for Foreign-Owned Companies
A few years ago, opening a Georgian bank account was easy - show up with your passport, and you'd have an account within hours. That's changed. Banks have tightened requirements for foreign-owned companies, especially those with no physical presence in Georgia.
Common reasons for rejection include:
All business activity and clients are outside Georgia
No local employees or office
Unclear business model
High-risk industries (crypto, forex, gambling)
Inability to demonstrate why you need a Georgian account
Your Banking Options
Bank of Georgia is the largest bank and often the hardest to get approved at - but also the smoothest to work with once you're in. They want to see economic ties to Georgia.
TBC Bank is the second-largest option with similar services. They charge a 500 GEL non-refundable application fee for corporate accounts. Anecdotally, they're slightly more cautious about large international transfers.
Liberty Bank and Credo Bank are smaller alternatives that some foreigners report having better luck with, though services may be more limited.
Required Documents for Corporate Accounts
Company registration certificate
Company charter
Director's passport
Tax identification number (TIN)
Description of business activities
Proof of business address
Some banks also request client contracts, proof of income source, or a reference letter from your previous bank.
Remote Account Opening
Opening a corporate account without visiting Georgia is possible through Power of Attorney, but success rates are lower. Banks prefer to meet directors in person, especially for new foreign-owned companies.
If you can't visit, prepare extra documentation: detailed business descriptions, sample contracts, and anything else proving your business is legitimate.
Alternatives
Wise Business (formerly TransferWise) works for many Georgian LLCs. You can receive payments, hold multiple currencies, and pay expenses.
However, Wise can't connect to the Revenue Service system - you won't be able to pay taxes directly or get VAT refunds through it. It works best as a complement to a local bank account, not a replacement.
Ongoing Compliance Requirements
Once your LLC is running, you'll have a few recurring obligations.
Annual Registration
Every Georgian LLC must file an annual registration with the Secretary of State between January 1 and April 1. The fee is 50 GEL. Miss this deadline, and your company can be administratively dissolved.
Monthly Tax Declarations
Even if you owe nothing, you must file monthly tax declarations through the RS.ge portal. This applies to all registered companies. The portal is in Georgian only, so most foreigners work with a local accountant (typical cost: 100-300 GEL monthly depending on transaction volume).
Bookkeeping
Georgia requires companies to maintain proper accounting records. For small LLCs with simple operations, this isn't burdensome - but you do need organized records of income, expenses, and any salary payments.
Registered Address
Maintain your legal address registration. If using a virtual office service, renew it annually (typically 350-500 GEL per year).
Can You Open an LLC Remotely Without Visiting Georgia?
Yes - and many foreigners do exactly this.
How Remote Registration Works
You'll need a representative in Georgia (either someone you know or a professional service) to act on your behalf. The process requires:
Power of Attorney - prepared by the service provider, signed by you, notarized and apostilled in your home country
Apostilled passport copy - notarized copy of your passport with apostille
Shipping - send original apostilled documents to Georgia
Once your representative receives the documents, they can complete the entire registration process at Public Service Hall.
The Bank Account Challenge
Here's the honest truth: registering an LLC remotely is straightforward. Opening a bank account remotely is not.
Banks prefer meeting corporate clients face-to-face. Remote account opening is possible - Bank of Georgia still accepts POA-based applications - but approval rates are lower, and you'll need extensive documentation including KYC forms, source of wealth declarations, bank reference letters, and detailed business descriptions.
If banking is critical to your operations, consider visiting Georgia for a week. You can complete registration, open accounts, and meet potential service providers in person. Many entrepreneurs combine this with a scouting trip to see if they'd want to spend more time in the country.
Virtual Zone Complications
If you're planning to apply for Virtual Zone status, remote registration is trickier. The Revenue Service increasingly wants to see genuine presence in Georgia - local staff, real office space, actual operations. Applying from abroad with no footprint rarely succeeds anymore.
Tbilisi Expat specializes in remote LLC registration. We handle translations, filings, and guide you through bank account options - even if you're not planning to visit Georgia. Contact us to get started from anywhere in the world.
Frequently Asked Questions
Do I need a visa to open an LLC in Georgia?
No visa is required to register a Georgian LLC. Citizens of over 90 countries (including the US, EU, UK, Canada, and Australia) can enter Georgia visa-free and stay for up to one year. You can register a business during a short visit or handle everything remotely without ever entering the country. Business ownership alone does not grant residency rights, but Georgia offers a separate residency-by-investment program if you need longer-term status.
Can I open a Georgian LLC without visiting the country?
Yes. Remote registration is possible through a Power of Attorney. You'll need to have your POA and passport copy notarized and apostilled in your home country, then send the original documents to your representative in Georgia. The actual registration process is identical - your representative simply acts on your behalf at Public Service Hall. Bank account opening remotely is more challenging but not impossible.
How long does it take to register an LLC in Georgia?
Standard registration takes one business day once you submit complete documents at Public Service Hall. Same-day expedited service is available for an additional fee. If you're registering remotely, add time for shipping your apostilled documents to Georgia. The entire remote process typically takes 2-3 weeks from start to finish, depending on how quickly you can get documents apostilled in your home country.
What is the minimum capital required for a Georgian LLC?
Georgia has no minimum capital requirement for LLCs. You can register a company with zero share capital - just pay the 200 GEL government filing fee. This makes Georgia one of the most accessible jurisdictions for bootstrapped entrepreneurs. You can always increase share capital later if needed for banking relationships or investor requirements.
Can a non-resident be a director of a Georgian LLC?
Yes. There are no restrictions on foreign directors. You don't need Georgian residency, a local address, or even to visit the country. Directors can manage the company entirely remotely through online banking and the RS.ge tax portal. The only requirement is a valid passport and the ability to sign documents (directly or through Power of Attorney).
What are the ongoing annual costs of maintaining a Georgian LLC?
Budget approximately 500-1,000 GEL annually for basic maintenance. This includes the 50 GEL annual registration fee, virtual office or legal address (350-500 GEL), and basic accounting services (100-300 GEL monthly, though simple companies may only need quarterly help). Add bank account maintenance fees if applicable. Companies with employees or VAT registration will have higher compliance costs.
Is Georgia a tax haven?
Georgia is not a traditional tax haven - it has real taxes and participates in international information exchange agreements (CRS as of 2024). However, its tax structure is genuinely favorable: 15% corporate tax only on distributed profits, 1% for qualifying small businesses, and 0% for Virtual Zone IT companies serving foreign clients. The system rewards companies that reinvest earnings rather than extract them immediately.
Can I open a bank account remotely for my Georgian LLC?
Technically yes, but success rates are lower than in-person applications. Bank of Georgia accepts Power of Attorney-based corporate account applications, but they require extensive documentation: KYC forms, source of wealth statements, bank reference letters, and detailed business descriptions. TBC Bank generally requires in-person visits for corporate accounts. If banking is critical, plan a short trip to Georgia - most accounts can be opened within 2-3 days when you're physically present.
What is the difference between an LLC and Individual Entrepreneur in Georgia?
An LLC is a separate legal entity with liability protection - your personal assets are safe if the business fails. LLCs pay 15% tax on distributed profits. An Individual Entrepreneur (IE) is simpler to set up and can access the 1% Small Business Status tax rate, but offers no liability protection - you're personally responsible for business debts. Choose LLC for liability protection, multiple founders, or Virtual Zone eligibility. Choose IE for simple freelance work under 500,000 GEL annually.
Do I need to hire local employees for my Georgian LLC?
No legal requirement exists to hire local staff. A Georgian LLC can operate with only foreign directors and no employees. However, if you're applying for Virtual Zone status, having at least one local employee significantly improves your approval chances. The Revenue Service increasingly looks for genuine economic substance when granting the 0% tax status. For standard LLCs without Virtual Zone ambitions, remote-only operations are perfectly legal.
Start Your Georgian LLC Today
Georgia offers a rare combination: simple registration, low costs, genuine tax advantages, and a welcoming attitude toward foreign entrepreneurs. Whether you're a solo freelancer looking for the 1% tax rate or a tech company eyeing the 0% Virtual Zone status, the country delivers on its business-friendly reputation.
The registration process itself is straightforward. Where most people stumble is documentation (especially bilingual charters), banking, and ongoing compliance in a foreign language. Getting professional help for these steps often saves more than it costs.
Ready to get started? Tbilisi Expat is here whether you're handling things yourself or want expert support. Reach out with questions - we're happy to help.
Georgia has become one of the easiest countries in the world for foreigners to start a business.
Sitting at the crossroads of Europe and Asia, this small Caucasus nation offers what few places can match: LLC registration in 1-2 days, zero minimum capital requirements, no need for residency or local partners, and a tax system that only charges you when you take money out.
For IT companies, there's even a legal way to pay 0% corporate tax.
In this article, we’ll cover everything you need to know to open an LLC in Georgia.
Quick Summary:
Foreigners can register a Georgian LLC without residency, local partners, or minimum capital
Registration takes 1-2 business days and costs around 200 GEL (approximately $75)
Corporate tax is 15% only when profits are distributed - retained earnings are tax-free
IT companies can apply for Virtual Zone status with 0% corporate tax on foreign income
Bank account opening has become more challenging for foreigners and may require in-person visits
Why Open an LLC in Georgia?
Georgia consistently ranks among the world's easiest places to do business. The World Bank has placed it in the top 10 globally for ease of starting a business, and for good reason.
The country sits at a strategic location connecting Europe and Asia, with free trade agreements covering the EU, China, Turkey, and CIS countries. This means your Georgian company can access diverse markets with reduced tariffs.
From a practical standpoint, here's what makes Georgia stand out:
No minimum share capital. You can register an LLC with zero capital - just pay the government filing fee.
100% foreign ownership is permitted. You don't need a local partner or nominee director.
Registration is fast. The entire process takes 1-2 business days if your documents are in order.
The tax system rewards reinvestment. Georgia uses an "Estonian model" where corporate income tax (15%) only applies when you distribute profits as dividends. Keep money in the company, and you pay nothing.
Low operating costs. Office space, local staff, and professional services cost a fraction of what you'd pay in Western Europe or North America.
Need Liability Protection? Open an LLC.
Professional setup in 5 days
15% profit tax only on distributions, room for multiple owners. We prepare documents, register at Public Service Hall, and set up your tax accounts. You just bring your passport.
Free Consultation
Fully Compliant
5-Day Setup
LLC vs. Individual Entrepreneur: Which Is Right for You?
Before registering, you need to decide on the right structure. Georgia offers two main options for foreign entrepreneurs.
Limited Liability Company (LLC)
An LLC is a separate legal entity. Your personal assets are protected if the business runs into debt or legal trouble. This is the standard choice for most foreign entrepreneurs, especially those planning to:
Work with multiple founders or investors
Generate higher turnover
Apply for Virtual Zone status (IT companies only)
Hire employees
Build a company they might sell later
LLCs pay 15% corporate income tax - but only on distributed profits. If you reinvest earnings back into the business, you pay 0% until you take money out.
Individual Entrepreneur with Small Business Status
If you're a solo freelancer or consultant earning under 500,000 GEL annually (roughly $185,000), the Individual Entrepreneur (IE) route with Small Business Status offers an even simpler option: just 1% tax on gross turnover.
The catch? No liability protection. Your personal assets are on the line if something goes wrong. And certain professions don't qualify - legal services, medical work, architecture, tax consulting, and advisory services are excluded.
For most solo digital workers serving foreign clients, the 1% rate is hard to beat. But if you need liability protection, plan to scale, or want Virtual Zone status, go with an LLC.
Documents Required to Register a Georgian LLC
Gathering the right paperwork upfront saves headaches later. Here's what you'll need:
Passports of all directors and shareholders. Bring originals if registering in person. For remote registration, you'll need notarized and apostilled copies.
Company charter (Articles of Association). This document outlines your company's structure, ownership, and operating rules. A bilingual charter in Georgian and English is strongly recommended - it prevents translation issues down the road and makes banking easier.
Defined business activities. You'll need to specify what your company does. Be thorough but accurate - adding activities later requires additional filings.
Legal address in Georgia. Every LLC needs a registered address. This doesn't have to be a physical office - virtual office services are widely available and perfectly legal, typically costing 350-500 GEL per year.
Power of Attorney (if registering remotely). If you can't visit Georgia in person, you'll need a POA authorizing someone to register the company on your behalf. This document must be notarized and apostilled in your home country, then sent to Georgia.
Step-by-Step LLC Registration Process
Want to fast-track the process? At Tbilisi Expat, we specialize in helping foreigners register an LLC in Tbilisi fast & easy. You can get in touch here, or just keep reading!
Step 1 - Choose Your Company Name
Your company name must be unique in Georgia. You can check availability through the National Agency of Public Registry's online database or simply ask when you arrive at Public Service Hall.
Names can be in Georgian, English, or both. Most foreign-owned companies register bilingual names. Avoid names that are too similar to existing companies or could be confused with government entities.
Step 2 - Prepare Your Documents
Draft your company charter. This is the most important document - it defines ownership percentages, director powers, decision-making processes, and what happens if shareholders disagree.
Georgia doesn't provide a standard template, so you'll need to create one. Getting this wrong can cause problems later, especially with banks or if disputes arise between partners.
If you're registering remotely, prepare your Power of Attorney and get your passport copy notarized and apostilled. The apostille must come from the appropriate authority in your home country (in the US, this is typically the Secretary of State).
Step 3 - Visit Public Service Hall (or Register Remotely)
In-person registration: Head to the Public Service Hall (also called Justice House) with your documents. The main Tbilisi location is at 2 Zviad Gamsakhurdia Embankment. Bring your passport, charter, and payment.
Standard processing takes one business day. Same-day service is available for an additional fee.
Government fees:
Standard registration: 200 GEL (~$75)
English language extract: 26 GEL
Expedited same-day service: additional 50 GEL
Remote registration: Your representative in Georgia submits the documents on your behalf using your Power of Attorney. Processing time is the same, but factor in shipping time for your apostilled documents.
Step 4 - Register with Revenue Service
Once your LLC is registered, you'll receive an identification number. This serves as your tax ID. You'll need to register on the Revenue Service portal (rs.ge) to file tax declarations and manage your tax obligations.
The RS.ge portal is only in Georgian, which trips up many foreigners. You'll use this system monthly, so bookmark it or work with a local accountant who can handle filings on your behalf.
Step 5 - Open a Corporate Bank Account
This is where things get tricky for foreign-owned companies. We cover this in detail below.
Want to skip the paperwork and language barriers? Tbilisi Expat handles the entire registration process - from bilingual charter preparation to Public Service Hall filing and Revenue Service setup. Contact us to make your LLC registration stress-free.
Understanding Georgian LLC Taxes
Georgia's tax system is straightforward once you understand the basics.
Corporate Income Tax
The headline rate is 15%, but here's the important part: you only pay this when profits leave the company. Retained earnings sitting in your business account? Zero tax. Reinvested into equipment, salaries, or growth? Zero tax.
This "Estonian model" means profitable companies that reinvest aggressively can operate tax-free for years.
Dividend Tax
When you do distribute profits to yourself or other shareholders, the company pays 15% corporate income tax at the time of distribution. Individual shareholders who are Georgian tax residents then receive their dividends tax-free (the corporate tax covers it). Non-resident shareholders face a 5% withholding tax on dividends.
VAT
The standard VAT rate is 18%. Registration is mandatory once your taxable turnover exceeds 100,000 GEL in any 12-month period. Below that threshold, registration is optional.
Exports of services to foreign clients are generally zero-rated, meaning you don't charge VAT but can still reclaim VAT on your Georgian expenses.
Personal Income Tax for Employees
If you hire staff in Georgia, you'll withhold 20% income tax from their salaries and remit it to the government. This is the employer's responsibility.
Virtual Zone Status: 0% Tax for IT Companies
For technology businesses, Georgia offers something special: Virtual Zone status. Companies with this designation pay 0% corporate income tax and 0% VAT on services exported to foreign clients.
Who Qualifies?
Virtual Zone status is available to Georgian LLCs engaged in information technology activities - software development, IT consulting, web development, app creation, and similar services. The key requirement: your clients must be outside Georgia.
What You Get
0% corporate income tax on foreign-sourced income
0% VAT on exported IT services
5% dividend tax when you distribute profits
The Catch: Economic Substance
Getting approved has become harder since 2020. The Revenue Service now looks for genuine economic presence in Georgia. Solo founders with no local staff or office face high rejection rates.
To improve your chances, you'll typically need:
A real office or coworking space in Georgia
Local employees (even one technical staff member helps)
Evidence that work is actually performed from Georgian territory
Active contracts with foreign clients
Application Process
After registering your LLC, submit an application through the RS.ge portal or directly to the Financial Analytical Service. Include your company details, description of IT services, and proof of foreign client relationships. Approval typically takes 10-30 days if your application is complete.
If you're a solo developer hoping to get Virtual Zone status without any Georgian presence, be prepared for rejection. The program works best for companies genuinely building operations in Georgia.
Opening a Business Bank Account in Georgia
This is the part most guides gloss over, but it's where many foreigners hit unexpected roadblocks.
The Reality for Foreign-Owned Companies
A few years ago, opening a Georgian bank account was easy - show up with your passport, and you'd have an account within hours. That's changed. Banks have tightened requirements for foreign-owned companies, especially those with no physical presence in Georgia.
Common reasons for rejection include:
All business activity and clients are outside Georgia
No local employees or office
Unclear business model
High-risk industries (crypto, forex, gambling)
Inability to demonstrate why you need a Georgian account
Your Banking Options
Bank of Georgia is the largest bank and often the hardest to get approved at - but also the smoothest to work with once you're in. They want to see economic ties to Georgia.
TBC Bank is the second-largest option with similar services. They charge a 500 GEL non-refundable application fee for corporate accounts. Anecdotally, they're slightly more cautious about large international transfers.
Liberty Bank and Credo Bank are smaller alternatives that some foreigners report having better luck with, though services may be more limited.
Required Documents for Corporate Accounts
Company registration certificate
Company charter
Director's passport
Tax identification number (TIN)
Description of business activities
Proof of business address
Some banks also request client contracts, proof of income source, or a reference letter from your previous bank.
Remote Account Opening
Opening a corporate account without visiting Georgia is possible through Power of Attorney, but success rates are lower. Banks prefer to meet directors in person, especially for new foreign-owned companies.
If you can't visit, prepare extra documentation: detailed business descriptions, sample contracts, and anything else proving your business is legitimate.
Alternatives
Wise Business (formerly TransferWise) works for many Georgian LLCs. You can receive payments, hold multiple currencies, and pay expenses.
However, Wise can't connect to the Revenue Service system - you won't be able to pay taxes directly or get VAT refunds through it. It works best as a complement to a local bank account, not a replacement.
Ongoing Compliance Requirements
Once your LLC is running, you'll have a few recurring obligations.
Annual Registration
Every Georgian LLC must file an annual registration with the Secretary of State between January 1 and April 1. The fee is 50 GEL. Miss this deadline, and your company can be administratively dissolved.
Monthly Tax Declarations
Even if you owe nothing, you must file monthly tax declarations through the RS.ge portal. This applies to all registered companies. The portal is in Georgian only, so most foreigners work with a local accountant (typical cost: 100-300 GEL monthly depending on transaction volume).
Bookkeeping
Georgia requires companies to maintain proper accounting records. For small LLCs with simple operations, this isn't burdensome - but you do need organized records of income, expenses, and any salary payments.
Registered Address
Maintain your legal address registration. If using a virtual office service, renew it annually (typically 350-500 GEL per year).
Can You Open an LLC Remotely Without Visiting Georgia?
Yes - and many foreigners do exactly this.
How Remote Registration Works
You'll need a representative in Georgia (either someone you know or a professional service) to act on your behalf. The process requires:
Power of Attorney - prepared by the service provider, signed by you, notarized and apostilled in your home country
Apostilled passport copy - notarized copy of your passport with apostille
Shipping - send original apostilled documents to Georgia
Once your representative receives the documents, they can complete the entire registration process at Public Service Hall.
The Bank Account Challenge
Here's the honest truth: registering an LLC remotely is straightforward. Opening a bank account remotely is not.
Banks prefer meeting corporate clients face-to-face. Remote account opening is possible - Bank of Georgia still accepts POA-based applications - but approval rates are lower, and you'll need extensive documentation including KYC forms, source of wealth declarations, bank reference letters, and detailed business descriptions.
If banking is critical to your operations, consider visiting Georgia for a week. You can complete registration, open accounts, and meet potential service providers in person. Many entrepreneurs combine this with a scouting trip to see if they'd want to spend more time in the country.
Virtual Zone Complications
If you're planning to apply for Virtual Zone status, remote registration is trickier. The Revenue Service increasingly wants to see genuine presence in Georgia - local staff, real office space, actual operations. Applying from abroad with no footprint rarely succeeds anymore.
Tbilisi Expat specializes in remote LLC registration. We handle translations, filings, and guide you through bank account options - even if you're not planning to visit Georgia. Contact us to get started from anywhere in the world.
Frequently Asked Questions
Do I need a visa to open an LLC in Georgia?
No visa is required to register a Georgian LLC. Citizens of over 90 countries (including the US, EU, UK, Canada, and Australia) can enter Georgia visa-free and stay for up to one year. You can register a business during a short visit or handle everything remotely without ever entering the country. Business ownership alone does not grant residency rights, but Georgia offers a separate residency-by-investment program if you need longer-term status.
Can I open a Georgian LLC without visiting the country?
Yes. Remote registration is possible through a Power of Attorney. You'll need to have your POA and passport copy notarized and apostilled in your home country, then send the original documents to your representative in Georgia. The actual registration process is identical - your representative simply acts on your behalf at Public Service Hall. Bank account opening remotely is more challenging but not impossible.
How long does it take to register an LLC in Georgia?
Standard registration takes one business day once you submit complete documents at Public Service Hall. Same-day expedited service is available for an additional fee. If you're registering remotely, add time for shipping your apostilled documents to Georgia. The entire remote process typically takes 2-3 weeks from start to finish, depending on how quickly you can get documents apostilled in your home country.
What is the minimum capital required for a Georgian LLC?
Georgia has no minimum capital requirement for LLCs. You can register a company with zero share capital - just pay the 200 GEL government filing fee. This makes Georgia one of the most accessible jurisdictions for bootstrapped entrepreneurs. You can always increase share capital later if needed for banking relationships or investor requirements.
Can a non-resident be a director of a Georgian LLC?
Yes. There are no restrictions on foreign directors. You don't need Georgian residency, a local address, or even to visit the country. Directors can manage the company entirely remotely through online banking and the RS.ge tax portal. The only requirement is a valid passport and the ability to sign documents (directly or through Power of Attorney).
What are the ongoing annual costs of maintaining a Georgian LLC?
Budget approximately 500-1,000 GEL annually for basic maintenance. This includes the 50 GEL annual registration fee, virtual office or legal address (350-500 GEL), and basic accounting services (100-300 GEL monthly, though simple companies may only need quarterly help). Add bank account maintenance fees if applicable. Companies with employees or VAT registration will have higher compliance costs.
Is Georgia a tax haven?
Georgia is not a traditional tax haven - it has real taxes and participates in international information exchange agreements (CRS as of 2024). However, its tax structure is genuinely favorable: 15% corporate tax only on distributed profits, 1% for qualifying small businesses, and 0% for Virtual Zone IT companies serving foreign clients. The system rewards companies that reinvest earnings rather than extract them immediately.
Can I open a bank account remotely for my Georgian LLC?
Technically yes, but success rates are lower than in-person applications. Bank of Georgia accepts Power of Attorney-based corporate account applications, but they require extensive documentation: KYC forms, source of wealth statements, bank reference letters, and detailed business descriptions. TBC Bank generally requires in-person visits for corporate accounts. If banking is critical, plan a short trip to Georgia - most accounts can be opened within 2-3 days when you're physically present.
What is the difference between an LLC and Individual Entrepreneur in Georgia?
An LLC is a separate legal entity with liability protection - your personal assets are safe if the business fails. LLCs pay 15% tax on distributed profits. An Individual Entrepreneur (IE) is simpler to set up and can access the 1% Small Business Status tax rate, but offers no liability protection - you're personally responsible for business debts. Choose LLC for liability protection, multiple founders, or Virtual Zone eligibility. Choose IE for simple freelance work under 500,000 GEL annually.
Do I need to hire local employees for my Georgian LLC?
No legal requirement exists to hire local staff. A Georgian LLC can operate with only foreign directors and no employees. However, if you're applying for Virtual Zone status, having at least one local employee significantly improves your approval chances. The Revenue Service increasingly looks for genuine economic substance when granting the 0% tax status. For standard LLCs without Virtual Zone ambitions, remote-only operations are perfectly legal.
Start Your Georgian LLC Today
Georgia offers a rare combination: simple registration, low costs, genuine tax advantages, and a welcoming attitude toward foreign entrepreneurs. Whether you're a solo freelancer looking for the 1% tax rate or a tech company eyeing the 0% Virtual Zone status, the country delivers on its business-friendly reputation.
The registration process itself is straightforward. Where most people stumble is documentation (especially bilingual charters), banking, and ongoing compliance in a foreign language. Getting professional help for these steps often saves more than it costs.
Ready to get started? Tbilisi Expat is here whether you're handling things yourself or want expert support. Reach out with questions - we're happy to help.
