International Patent Classification is a patent classification system that was established by the Strasbourg Agreement 1971 that provides a hierarchal system for classification of patents and utility models based on the technology that they involve. This system is used by more than 100 countries.
Georgia [endonym: Sakartvelo] is a Caucasian country. It is located in South Caucasus, connecting Europe to Asia, and is spanned by several mountain ranges (many of volcanic origin) and plateaus. Georgia is a part of the European Union’s Free Trade Area. It features in the top 10 in the Ease of Doing Business Index by the World Bank Group, and is one of the least corrupt countries in the Black Sea region. In the mid-2000s, a series of reforms were undertaken in Georgia, courtesy the Rose Revolution, leading to its GDP growing in double digits each year thence.
Because of the country’s topography and climate, agriculture and tourism are the primary industries here. Of late, hydroelectric energy production has been gaining pace in Georgia – due to the presence of over 26,000 rivers in the territory to harness. Consequently, Georgia is a major exporter of electricity in the Caucasian region. Georgian railways are a major means connecting the Black Sea and the Caspian Sea. The nation also has 4 international airports, and a well-connected road network.
Company Incorporation in Georgia
A company in Georgia can be set up as one of the following legal entities.
1. Limited Liability Company
A limited liability company in Georgia can be formed by not more than 50 shareholders, among whom the capital is distributed as shares. These shareholders are liable only to the extent of their respective contributions.
2. General Partnership
A general partnership in Georgia can be formed by 2 or more people. The other stipulations for a general partnership remain same as that for a sole proprietorship. Its partners bear unlimited liability.
3. Limited Liability Partnership
A limited liability partnership in Georgia can be formed by at least 1 general partner and 1 limited partner. The general partner bears unlimited liability for the company’s debts and incomes, unlike the limited partner who has limited responsibilities as far as one’s contributions to the company’s capital are concerned.
4. Virtual Zone Entity
A Virtual Zone Entity in Georgia is a legal entity that performs information technology activities and has been granted a special status by the Georgian Tax Authorities. This type of business entity was introduced by the Georgian Tax Code.
5. Branch Office
A branch office in Georgia is an offshoot of a company located abroad that wishes to conduct business in Georgia.
Benefits of Company Incorporation in Georgia
A business can be opened in Georgia owing to its following advantages:
- Georgia occupies a very strategic location on the world map, linking Asia and Europe, and has cordial relations with the European Union (EU), US, China, Turkey, and Iran.
- Georgia has over 50 double taxation avoidance treaties with different countries including the UK, Singapore, Germany, India and China.
- Company registration in Georgia is simple and involves few steps, and can be completed in a week.
- The economy of Georgia is liberal, and the government promotes business incorporation and FDI.
Who We Are
Business Setup Worldwide is a platform to help you set up a business in Georgia. Right from incorporation, registration and licensing to tax consultancy, we facilitate the formation of your company through counselling and incubation.
Business Setup Worldwide's proprietary business design techniques, combined with its specialized regional know-how and global reach, enable our clients to anticipate changes in customer priorities and the economic market, and then shape their businesses and improve operations to make use of opportunities created by those changes.
Business Setup Worldwide helps entrepreneurs and investors establish their company in Georgia. We take care of the Banking, Visa, Legal, and Licensing formalities, and allow corporates to focus on their company formation process without having to worry about the legal formalities. We guide you through your business setup, with your business vision at the centre of our ecosystem, at all times.
Our commitment to professionalism, extensive capability across various industries, proactive learning in the ever-changing global environment, and the ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Business Setup Worldwide, and provide the competitive edge in ensuring business growth. If you are wondering how to set up your company in Georgia, do reach out to us. We’ll be glad to help.