Attractive Business Environment for Foreign Entrepreneurs
Georgia is becoming an increasingly popular destination for relocation from abroad due to its attractive business environment and tax incentives for foreign investors. The country actively promotes the development of small and medium-sized businesses, offering a simplified registration system and low tax rates.
One of the popular options for doing business in Georgia for relocating entrepreneurs is to open an individual entrepreneur (IE). With this status, the entrepreneur operates as a self-employed person without creating a legal entity. The process of registering an IE in Georgia is fairly straightforward and takes only one to two days with the assistance of a professional company.
Favorable Taxation for Small Businesses
One of the main advantages of individual entrepreneurship in Georgia is favorable taxation. IEs with small business status (annual turnover up to 500,000 GEL) pay only 1% income tax on their income. For certain types of activities, such as IT services, education, and healthcare, there is an exemption from tax.
Furthermore, individual entrepreneurs are not required to maintain accounting records or submit financial statements, which significantly simplifies doing business.
Comfortable Life in a Hospitable Country
Moving to Georgia is attractive not only from a business perspective but also for the high quality of life. The country is renowned for its hospitality and warmth with which locals welcome foreigners.
Georgia boasts a rich culture and traditions dating back to ancient times. Its attractions, such as ancient monasteries, cave towns, and picturesque mountain villages, draw travelers from all over the world.
Nightlife in major cities, especially in Tbilisi, is also very lively. Here you can find numerous bars, restaurants, and nightclubs to suit every taste.
Georgian cuisine, known for its delicious meat and vegetable dishes, excellent wines, and hospitality, is one of the country’s main prides. Its authentic taste and diversity will not leave even the most discerning gourmets indifferent.
At the same time, living expenses in Georgia remain low compared to many other countries. Housing rental, food, transportation, and medical care are available at attractive prices.
Convenient Geographical Location and Infrastructure
Georgia is attractive for business and living due to its strategic geographical location at the crossroads of Europe and Asia. This provides access to the markets of the CIS countries, the European Union, Turkey, and Iran.
The country has a well-developed modern infrastructure, including high-speed internet throughout its territory. The free economic zones in Poti and Batumi offer preferential conditions for export-oriented businesses.
Georgia has also concluded bilateral agreements on the avoidance of double taxation with more than 50 countries, creating additional advantages for foreign investors.
Conclusion
Moving to Georgia opens up wide opportunities for both doing business and comfortable living in a hospitable country with a rich culture and traditions. A favorable tax policy, a straightforward procedure for registering individual entrepreneurship, affordable housing, diverse nightlife and cuisine, and low living expenses – all these factors make the country an attractive destination for relocating from abroad.