Starting a Business in Georgia

This table summarizes the procedures and costs associated with setting up a business in Georgia.

Export to Excel | Local partners | Methodology

   View all indicator data and topic details for this economy.

Change Selection

Standardized company

Legal Form: Limited Liability Company
City: Tbilisi

Registration Requirements Summary:


  Procedure Time to complete: Cost to complete:
1 Pay the registration fee 1 day no charge
2 Register the company with the Entrepreneurial Register and obtain an identification number and certificate of state and tax registration 1 day GEL 160
3 Open a corporate account in the bank 1 day no charge

Registration Requirements Details

Procedure 1.
Pay the registration fee
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
Procedure 2.
Register the company with the Entrepreneurial Register and obtain an identification number and certificate of state and tax registration
Time to complete:
1 day
Cost to complete:
GEL 160
Name of Agency:
Comment:
Registering the company requires filing the following documents:
(a) Application for registration;
(b) Specimen signature(s) of a person(s) authorized for managing a company;
(c) Document evidencing payment of a registration fee.

Furthermore, application for registration shall include signature(s) of (i) partner(s) and (ii) person(s) authorized for managing and/or representing a company. Such signatures shall be made in presence of a person authorized for company registration. Otherwise the application for registration shall be certified by the notary. As regards the specimen signature(s), it/they shall be either signed in presence of a person authorized for company registration or certified by the notary.

Registration of a company shall be carried out upon submission of the above listed documents.

The latest amendments in the Law on Entrepreneurs were made on March 14, 2008 and took effect on May 10, 2008. The Order No. 717 of the Finance Minister of Georgia was revoked and a new Order No. 419 on the Approval of Instruction on State and/or Tax Registration Procedure of Taxpayers and Branches was adopted on May 8, 2008. Pursuant to this Order, the 3 days term established for registration of the companies was abolised. Under the new Order a company will to be registered on the same day or the following day of filing. In addition to the foregoing, a new amendment made in the Tax Code of Georgia stipulates that an enterprise should not commence its activities until obtaining tax identification number, otherwise respective penalties and fines will be imposed to the company.
Procedure 3.
Open a corporate account in the bank
Time to complete:
1 day
Cost to complete:
no charge
Name of Agency:
Comment:
Opening a corporate bank account requires that the following documents be presented to the bank: (a) the tax administration resolution on company registration; (b) the company charter; (c) the state and tax registration certificate; (d) the director’s signature sample; and (e) copies of the identification documentation of each person authorized to represent the company. The bank immediately transforms the temporary account (opened before registration) into a permanent account.