Trading bitcoin in Georgia: The minimum amount to start bitcoin trading is 10 USD.
In 2017 a telemarketing system for cryptocurrency exchange started to operate in Georgia.
Popular exchanges to buy bitcoin and crypto in Georgia:
eToro; Coinmania; Bitstamp; Paxful; OkCoin; Changelly
It’s noteworthy that Bitcoin ATMs exist in Tbilisi in many locations.
Conclusion
Georgia’s eagerness for cryptocurrency mining has surprised many nations and more people are ready to come on board with cryptocurrency, due to its favorable conditions in Georgia. Georgia doesn’t have any legislative restrictions for crypto exchange and doesn’t require license for this activity. Georgian government is selling energy half a price compared to Europe and US. Georgian government is selling energy half a price compared to Europe and US. Cheap utility made Georgia third biggest Bitcoin mining hub after China and Venezuela. . If a legal entity in Georgia does the same activity, no VAT is payable in that case as well but CIT of 15% and withholding tax 5% will be due only in case of distribution dividends to shareholders. Selling hash power is considered as a provision of electronic service and is not taxable by VAT if a Georgian resident sells it to a nonresident. However, that transaction is subject to reverse VAT in Georgia if a Georgian resident purchases hash power from abroad.
Contact our legal advisors in Georgia. and we will help you register a business in Georgia online.
