Sergej Suchanow
In November 2023, we opened our youngest office in Tbilisi with the aim of supporting our clients in their business development.
Georgia is located at the crossroads between Europe and Asia and its strategic location makes Georgia a natural logistics and transit hub along the Trans-Caspian trade route connecting Asia and Europe via the Caucasus.
Georgia's economy is growing steadily. In 2021, growth amounted to 10.5 percent and in 2022 - 10.2 percent.
Georgia has concluded free trade agreements with:
27 EU countries (Austria, Belgium, Bulgaria, Hungary, Germany, Greece, Denmark, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Finland, France, Croatia, Czech Republic, Sweden and Estonia);
9 CIS countries (Russia, Belarus, Azerbaijan, Uzbekistan, Kazakhstan, Armenia, Kyrgyzstan, Moldova and Tajikistan);
4 countries of the European Free Trade Association (EFTA) (Norway, Iceland, Liechtenstein and Switzerland)
Great Britain, Ukraine, China, Hong Kong, Turkey.
There are currently 58 bilateral international agreements for avoiding double taxation, including with Germany and Austria.
Georgia's banking system is connected to the European IBAN system.
Georgia promotes so-called Tax Free Zones (TFZ) with special economic benefits.
Full reliefs for TFZ residents include (mainland rates in brackets)::
Corporate income tax (15% of the taxable profit base);
Property tax (1% of the average book value of the property);
Import tax (up to 18% of the import value);
Value added tax (18%)
Dividend tax (5%);
Limited accounting in relation to employees' salary.
In general, companies benefit from reliable infrastructure, low rental prices, ease of starting a business, low utility and communication costs and many other advantages. Financial support from the government enables the use of extended financing support mechanisms.