We are often longer process any foreign companies and individuals who want to start business in Georgia with questions concerning the registration of firms in Georgia. In this section, we have attempted to briefly answer the most frequently asked questions.
What types of organizations exist and what is preferable?
How is the registration and how much it costs?
What forms of enterprises existing in Georgia?
In Georgia, the legal entities are divided into 2 categories. Trading Grid. Individuals (who are engaged in “business”) and non-legal. Persons.
The subjects of entrepreneurial activities are:
1. An individual entrepreneur
An individual entrepreneur is responsible to the creditors for the obligations arising from its business activities, in person, with all its assets.
2. Social Solidarity
Social solidarity – a society in which several persons (partners) together under a single brand name, engaged in business activities and are responsible to the creditors for the obligations of society as joint and several debtors – with all its assets, directly and indirectly.
3. Limited partnership
Limited partnership – a society in which several persons engaged in business activities under a single brand name, if the responsibility of one or more partners to the creditors of the company is limited to paying a certain guarantee amount – limited partners (limited partners), and the responsibility of other partners is not limited to, – full partners ( complementary).
4. Limited Liability Company
A limited liability company is a company, which is responsible to its creditors is limited to all its property. Such a society can be established and the same person.
Limited Liability Company (LLC) is the most common and the best option for registration.
The main advantages:
– Responsible for dogam only their property (. Exceptions only tax liability there if the sum exceeds 50 000 GEL question of criminal liability of directors, this exclusion applies to all legal persons) liability does not apply to the property of the founders or directors.
– The share capital can be in any exchange of the. It does not set a minimum, that is, for the registration of company law does not require any document confirming the existence or size of the share capital. the amount of authorized capital is determined at the discretion of the founding partners of the company.
5. Joint Stock Company
Joint-stock company is a company whose capital is divided into shares of a specific class and quantity of the articles of association. The action is unrealized registered security confirming the commitment of the company in respect of a partner (shareholder) and the rights of a shareholder in the Company. Articles of Association of the company may be determined by the price at the price below which is not allowed initial public offering this class (nominal value of the shares). The responsibility of the company to its creditors is limited to all its property. A shareholder of the company is not liable for the obligations of the company. With the establishment of the company capital can be determined in any size.
(AO) as opposed to (LLC) there can not be seen in an extract from the register of who owns shares in the company and how the acquired share (deed of gift or purchase and sale as well as the amount of the transaction), it certainly does not apply to public bodies. That is, this information is hidden from the general public.
But unlike Ltd. JSC is obliged to carry out a financial audit every year.
6. Cooperative
Cooperative – based on the work of members or created for the purpose of development of the economy and increasing the income of members of society, whose task – meeting the interests of the members. It is not mainly aimed at making a profit.
How to register a company in Georgia and how much it costs
Register in Georgia is 105 GEL (approximately $ 42 (Jan 2017)) and made 2 days, there is also a fast-track procedure in the same day is 205 GEL. Registration may cost a little more than 10-15 GEL envy how many signatures.
The founders and directors may be citizens of any country
To register, it is necessary to have a passport founders and director (s). you need to fill in the register of the charter and have agreed on the legal address of any person who owns real estate in Georgia. If jur. Address matches the address of the director or the owner, then the additional documents are required. Consent must be either notarized or individual must sign the document before a representative of the Justice House.
If the founder or director does not own State
For more details call: +995 555 27 96 96