If the businessman wants to set up a limited liability company in Georgia, he or she can start the procedure by registering it with the Entrepreneurial Register. The institution will require a set of company documents, which are compulsory during the registration procedure. The necessary documents for company formation in Georgia are the following:
• the company charter – which is the formal document that establishes the legal entity that will operate in Georgia;
• the document which stipulates the value of the contributions of each member;
• an application which contains information regarding the name of the company, the legal entity of the company, the amount of share capital, documents for naming each member of the supervisory board and management board;
• in the situation of a company set up as limited liability, the application should also contain the address, the business plan, date of starting the business, and details providing information on the founder of the company (name, address, place of birth, and his or her profession).
After depositing the above-mentioned documents, the representatives of the limited liability company have to open a bank account. The corporate bank account can be set up at any commercial bank in Georgia, after providing certain documents requested by the institution. After this, the limited liability company is entitled to start its commercial activities.