With the increasing demand for the offshore business, there is a massive demand for new and different locations for setting up a business.
The global business scenario has been continuously improving and opening up numerous doors for business investors, widening investment opportunities.
Apart from providing suitable investment options, these locations offer a convenient and conducive environment with tax exemptions to enhance the profitability of the company. Georgia has been one of the popular offshore destinations that have been successfully grabbing the attention of global business investors.
Why Start an Offshore Company in Georgia?
There are various reasons why set up an offshore business in Georgia can be very profitable for foreign trade. These reasons are:
- Stands as an international gateway
- Business investors hold the flexibility to open an offshore bank account
- The easy company setup process
- A perfect destination to proceed for asset and wealth protection
How to Start an Offshore Company in Georgia?
Setting up an offshore company in Georgia can be very profitable for a company, the reason most people look to open an offshore company.
Georgia provides a low cost, fast and straightforward process of offshore company incorporation. Here is the complete procedure for setting up an offshore company:
1.Select A Business Consultant
Incorporating an offshore business might seem to be simple, but in reality, it’s not. The core process involves numerous steps that need to be followed accordingly at every step. Being a foreigner, it might be possible for you to understand every legal action, which might result in non-clearance of the process. Thus, it is recommended to proceed ahead with a certified business expert who can guide you accordingly to clear the process in a hassle-free way, as they are well-versed with the detailed procedure.
2.Keep the Relevant Documents Handy
In the next step, you need to be ready with the relevant set of documents presented accordingly. Documentation is an integral part when it comes to offshore company formation, and while establishing one in Georgia, the following documents are to be submitted, therefore:
- Identity proof of the shareholder(s)
- Address proof of the shareholder(s)
- Detailed business plan
- Photocopies of the business shareholder(s)
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Notarized copy of Company Charter
- Written consent of Appointed Director of the Company
3.Submit the Essentials for Verification
Once the necessary documents have been gathered, they will be sent to the respective authorities for verification. The National Agency of Public Register in Georgia will be verifying the documents submitted.
4.Open an Offshore Bank Account
An offshore bank is one of the unavoidable steps when it comes to offshore company incorporation in Georgia. Proceeding with the opening of an offshore bank account not only helps you to safeguard your assets but also provides you the flexibility to invest in the international market. To know more about the benefits that you can derive, here’s a guide on the Advantages of Offshore Banking that will help you to understand the concept in a straightforward way.
5.Proceed with the Business Activities
After the completion of the above-stated process, you can carry out the relevant business activities accordingly. Although the offshore companies hold the flexibility of not presenting the reports to the appropriate authorities, it is still recommended to maintain a detailed record of the business transactions.
Thus, you have seen the essential steps that need to be followed accordingly to set up an offshore company in Georgia.
At Business Setup Worldwide, we do take care of the essentials to set up an offshore company in various tax-haven jurisdictions. Our business advisors are well-versed with the offshore company legal proceedings and can assist you accordingly. Since inception, we have been helping numerous clients to set up their business roots across different parts of the world that have made us one of the top business consultants in Dubai.
To know further information, feel free to have a word with our experts. Contact us today-we’d be glad to assist!