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Business Advantages and Conveniences

Georgia is strategically located in the Southeast, close to the United States’ East Coast and international markets, making it easier for Georgia-based businesses to expand. The state is also well-known for its business-friendly environment, with a highly qualified labour pool that enable businesses in recruiting quality employees.

Incorporating a business in Georgia provides numerous advantages to investors. For starters, the state provides a business-friendly environment with a wealth of resources and support organizations, making it an ideal location for new businesses. The entire incorporation process is quick and simple, taking as little as 15 minutes and requiring only a few documents.

You don’t even need to be present; simply provide a power of attorney and entrust a professional firm like 3E Accounting to handle everything for you. There is also no minimum capital requirement for Georgia incorporation, and you can start a business with $0. Furthermore, Georgia has no restrictions on foreign company ownership or the number of directors, allowing for a more flexible shareholding structure.

 

Georgia Business Advantages

At the same time, Georgia offers low tax burdens for businesses, including relatively low corporate and personal income taxes, which will help companies with their financial planning and cost savings. The corporate income tax rate varies between 0% and 20%, while some specific industries can even benefit from tax incentives.

It is also worth noting that Georgia has double tax treaties with over 56 countries, which offer additional protection for cross-border investments. Our legal team will also help you with complex double tax avoidance agreements.

Furthermore, the 2019 amendments to the law expand foreign investors’ opportunities to obtain residence permits in Georgia. Individual entrepreneurs will be eligible for a one-year residence permit if they meet the minimum annual turnover requirement ($50,000). The implementation of these amended acts will almost certainly encourage more foreign investors to conduct business in Georgia.

 

Introduction to the Types of Georgia Company

The first step in forming a business in Georgia is to decide what type of business you want to start. In Georgia, you can form a variety of businesses, including limited liability companies (LLC), non-profit organizations, sole proprietorships, general partnerships (GP), and limited partnerships (LP). You can easily complete your incorporation by submitting a naming application and preparing the required documents.

Georgia is an ideal location for incorporation. However, before registering, foreign investors should consult with a professional to better understand local business regulations and tax policies, as well as to ensure that all registration and operational requirements are met. If you are interested, please contact 3E Accounting.