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Tbilisi, Georgia Attorneys in related practice areas.
This is a bridging area of law dealing with the establishment, licensing, taxation, and regulation of enterprises within the Republic of Georgia. Business law in Tbilisi, the capital, covers all aspects of trade from the creation of a legal entity to the dissolution of a business. It impacts foreign investments, ventures, partnerships, corporations, and sole traders. The Georgian law is seen as pro-business, with less bureaucracy and regulation compared to other jurisdictions.
Having a lawyer is paramount when setting up a company, entering a partnership, merging with a company, investing in real estate, or dealing with any commercial disputes. A good understanding of Georgian laws and regulations, language proficiency, and local knowledge can be essential for success. Lawyers can help with contracts, tax issues, labour laws, business disputes, and can represent your interests in a court.
The Georgian legal system is based on civil law principles and does not have a concept of legal precedents, unlike the Common Law system. Therefore, detailed contractual arrangements are of utmost importance. The local business law covers partnership, corporation, sole proprietorship, and cooperative. The most common form of business, especially for foreign investors, is the limited liability partnership. Georgia offers a favourable tax environment for businesses with a flat tax rate, and several tax-free zones exist in the country.
Georgia stands as one of the easiest places to conduct business globally. The process is straightforward, and a company can be set up in approximately two to three working days following the submission of all necessary documents.
Yes, majority foreign ownership is allowed in Georgia. A foreigner can be the sole owner of a business in Tbilisi.
Georgia has a favorable taxation environment. The main taxes for businesses are income tax (20%), value added tax (18%), and property tax (up to 1%).
Yes, Georgia has double taxation treaties with over 50 countries to avoid double taxation of profits earned abroad by their residents.
Yes, a company that is registered in Tbilisi, or any part of Georgia, can conduct business in all other regions of the country.
The National Agency of Public Registry maintains the registry of businesses. The Revenue Service of the Ministry of Finance is responsible for the operation of tax-related services in the country. The Georgian Chamber of Commerce and Industry provides business-related consultations and services. Enterprise Georgia acts as a mediator between the business sector and the government.
For those in need of legal help, it is recommended to contact a local business law firm or consultancy. A lawyer can provide up-to-date advice, guide you through your legal obligations, outline potential risks, and protect your interests. There are numerous legal firms in Tbilisi specialising in business law. It is always a good practice to seek a profoundly established firm with a proven track record in business law.
