Business In Georgia 2021

With fewer regulations in doing business, a simplified tax structure, and new infrastructure improvement initiatives, Georgian leaders are working to create an environment in which local and foreign companies can flourish. The strong growth investors are experiencing in the hospitality and real estate sector represents the fruits of reform—the success of policies that introduced flexibility into the economy.

Advantages Of Doing Business In Georgia

• A politically stable investment destination
• Efficient, pro-business, and corruption-free government
• A free trade agreement with 2.3 billion markets
•  Competitive cost of labor and energy
•  Entry gate between Europe and Asia
• Stable Macroeconomic situation and solid sovereign balance sheet
• Simple, low, and efficient taxation
• 7th easiest country to do business in
•  6th safest country in the world

preferential trade regimes

• Deep and comprehensive free trade area (DCFTA) with EU
• A free trade agreement with the people’s Republic of China (Including Hong Kong)
• Free Trade Agreements (FTA) with EFTA Countries (Iceland, Norway, Switzerland, and Liechtenstein), Ukraine, Turkey, and CIS countries
• GSP agreement with USA, Canada, and Japan
• Member of WTO
• Very simple and service-oriented customs policy and administration customs clearance in 5-6 minutes
• 80% of goods are free from import tariffs
• No quantitative restrictions

Taxation is simple, low, efficient, and fair

• Corporate Profit Tax : 0% or 15%
• Personal Income Tax: 20%
• VAT: 18%
• Customs/Import tax : 0%, 5%, 12%
• Excise Tax: Depends on goods
• Property Tax: Up to 1%

 More about Taxation

1. Pension Contribution – 2% paid by Employer, 2% paid by Employee, 2% by Government
2. No wealth tax and inheritance tax
3. Personal income tax for interest, dividend, royalty – 5%
4. Foreign-source income of individuals fully exempt
5. No restrictions on currency convertibility or repatriation of capital and profit
6. Double taxation avoidance treaties with 56 countries

Young, skilled, and competitively priced labor force in Georgia

The unemployment rate is around: 12.7%
Young Labor: 56%
Average Monthly Salary: $400

All ILO core conventions are ratified by Georgia
Around 60% of the young population and 40% of the overall population know English
According to Heritage Foundation, Georgia ranks 20th globally on Labor Freedom Index

To get more information regarding investment opportunities in Georgia and Investing in real estate as is the best way to invest in this country you can contact our experienced consultant at Avageorgia.ge