Home Company Formation Incorporation of Georgia Company – General FAQ

Incorporation of Georgia Company – General FAQ

by ads.georgialegalservice
Incorporation of Georgia Company – General FAQ

1. Can a foreign national be a managing officer of a Company?

Yes, the Georgian legislation does not contain any restraints with regard to the nationality of personas that are entitled to participate in corporate governance of the Company.

2. What if I am a single founder?

Limited Liability Company can be incorporated by a single founder in Georgia

3. Can I be in the company shareholder and director both together?

Yes!

4. How long can Limited Liability Company Exist?

Only one-time registration is enough and there is no need for renewal of registration annually.

5. How Much Do I Need to Invest in order to start a business in Georgia?

Here comes the Easiest way to open a company with no need for proof of investment volume. In other words, there is not a predefined investment volume in Georgia. You can start a company with Zero Investment.

6. How much actually does it cost to Register Company and start a business in Georgia?

The legal fee is 100-200 Gel. However, there are some additional costs associated with translation and legalization. If you are not a lawyer, you will need a lawyer to prepare for your articles in accordance with Georgian legislation. What’s more, you need to have a rental agreement. Does your headache now? Relax and contact our Agent who can handle all the procedures in the shortest period of time.

7. Is it necessary to have books kept?

Yes, for a Limited Liability company you must hire an accountant. Compliance is important. Never mind, it will not cost millions of dollars. Bookkeeping for Startup Companies in Georgia is not a costly job.

8. Are two directors necessary to Register a Limited Liability Company?

Not in Georgia. You can open a company as a single shareholder.

9. Do I have to be physically present to open a company in Georgia?

Not really. This is all the idea behind our Company Formation Online Service. Based on Power of Attorney we can open a company for you. No matter where you are, you can send us POA and take a rest. The rest of the job will be done by us and in the shortest period of time, you will have a new company abroad. This is the easiest way to start a business abroad. If you plan to expand in foreign Market Georgia offers you the best legislation for that reason. You will find tax heaven and easiness to start a business here.

10. How do I know that the company incorporation procedure is completed?

Once the company is registered you’ll get a Digital Certificate of Incorporation. This confirms the company legally exists and shows the company number and date of formation.

11. What are the minimum charter capital requirements?

A Company shall have a charter capital, but the legislation does not contain any specific requirements with regards to the amount of such capital. Therefore, it is upon the discretion of founding partners to determine the charter capital amount.

12. What are the Preconditions of legal stay in Georgia?

A Person possessing a visa of a specific category and intending to stay on the territory of Georgia longer than the period determined by the visa should apply to Public Registry for receiving a temporary or permanent residence permit, at least 40 days prior to the expiration of the terms of their legal stay. The duration of a temporary residence permit can be up to 6 years.

 

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