Poti is the first industrial free zone in Georgia developed by an investment authority from the United Arab Emirates. The main activities performed under this free zone are a trade, logistics, service and consulting, in a wide range of business sectors and industries.
Located on the eastern Black Sea coast in the region of Samegrelo-Zemo Svaneti in the West Country, Poti is a Port City in Georgia. It is also the first industrial free zone in Georgia developed by an investment authority from the United Arab Emirates. Its location is strategic, making it the most favorable for import and export activities. The main activities performed under this free zone are a trade, logistics, service, and consulting companies in a wide range of business sectors and industries to establish their operations in the Poti FZ. Offering a range of advantages, a tax-free environment, and a simple business set-up process, Poti FIZ has become a sought-after facility in the region for both start-up and well-established businesses.
Advantages of Establishing a Business in Poti FZ
There are many strategic and operational advantages of opening a company in this Georgian free zone. They are:
- Strategic geographical location
- Close proximity to the port of Poti
- No minimum capital requirements while incorporating
- Low cost of licenses and permits
- Zero percent VAT, Dividend Tax, and Profit and Property Tax
- 100% capital and profit repatriation
- Full foreign ownership of the company
- Reasonable labor cost
- The easy company set-up procedure
Types of Company Structures in Poti FZ
Investors planning to conduct their business activities are required to establish a company under one of the following legal entities:
- Limited Liability Company
- General Partnership
- Limited Partnership
- Joint Stock Company
Licenses Available in Poti FZ
Investors who want to set up a company in the Poti free zone will need to apply for a license according to the type of activity performed by the company. The available license types include:
- Manufacturing and commercial activities
- General trade activities and special trade
- Consulting activities and other services
- Logistics and contracting
- Financial and banking services
How to Open a Company in Poti FZ?
Company formation in Georgia is currently in demand amongst the investors and with the added advantage of free zones; Georgia is becoming hugely popular for business incorporation. All the free zones in Georgia are operated by private companies and an investor while setting up a company in the FZ must rent an office space from the FZ operator. The Poti Industrial Free Zone is operated by Rakia Georgia FIZ LLC. The process of incorporation is a little different from the mainland company setup. LLC is the most common form of ownership in Georgian free zones. The steps to register a company in Poti Industrial FZ are simple and straight-forward. They are as follows:
- Fill the application form available on the official website of the Poti Free Zone
- Once the application is submitted to the authorities, after attaching the documents, the authorities will review the form and will decide on approving or disapproving the form
- The total processing time will be less than a week. After the approval, you are free to set up your company in the free zone
- Once the setup is done, the final step is to open a bank account for recording the financial obligations of the company
Apart from the aforementioned benefits, there is a myriad of facilities provided in the free zone, like investors in the Poti free zone can rent land plots, warehouse, and industrial units or office and storage room at affordable price. Poti free zone in Georgia is currently the most sought-after free zone by the investors. If you too are interested in opening a company in Poti Free Zone in Georgia, we at Business Setup Worldwide can help you with the business formation. Our advisors in Georgia will provide you with relevant tailor-made solutions for your business needs and make the process hassle-free. Contact us today to know more.