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Individual Entrepreneur (IE)

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Individual Entrepreneur (IE)

As the owner of an enterprise, an individual entrepreneur is a physical person whose entrepreneurial activity shall be conducted in an entrepreneurial manner. In legal relations such person shall act on its own behalf. IE is not a legal entity. An individual entrepreneur uses its rights and performs its obligations as a physical person and bears personal responsibility before creditors for any and all obligations arising in course of its entrepreneurial activities.

Who is an Individual Entrepreneur?

An Individual Entrepreneur is a physical person, who acts in business relations under his/her name. An Individual Entrepreneur is not a legal entity.

Is it necessary to submit a duly compiled consent of the owner of the real property for registration of the Individual Entrepreneur?

In case if the interested person is an owner of the real property existing at the indicated address, no additional documents are needed to be submitted for defining the legal address. It is not necessary to submit the owner’s consent or the use confirming document for the registration of the Individual Entrepreneur at the address indicated in the ID document (also at the temporary residence address indicated in the Internally Displaced Person’s document). In other cases, there should be additionally submitted duly compiled consent of the real property’s owner or the document confirming the right to use the real property.

What is the basis of the abolition of registration of the Individual Entrepreneur?

Abolition of registration of the Individual Entrepreneur may be performed either on the basis of the Individual Entrepreneur’s application or in case if the Individual Entrepreneur is announced dead or incapable.

In case if the Individual Entrepreneur has died or is announced dead or incapable the document confirming abolition of the registration shall be a certificate of death or in case if the Individual Entrepreneur is announced dead/incapable – court decision. 

For more details you may contact our agents‘ Business register Georgia lawyers in Georgia.

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