Home Company Formation(IE) -Individual Entrepreneur INDIVIDUAL ENTREPRENEUR IN GEORGIA

INDIVIDUAL ENTREPRENEUR IN GEORGIA

by ads.georgialegalservice
INDIVIDUAL ENTREPRENEUR IN GEORGIA 2021

PAY ONLY 1% TAX ON INCOME UP TO EUR 125 000

  • FOR FREELANCERS
  • STARTUPS
  • SMALL BUSINESS OWNERS
  • DIGITAL NOMADS
  • EXPATS
  • DIGITAL MARKETERS
  • CRYPTO ENTHUSIASTS
  • FOR YOU

General Information

If you are planning to start a business in Georgia, there are quite a few opportunities to choose from. The most popular company types are Limited Liability Company and Individual Entrepreneur. For more information about Limited Liability Company – LLC check this out. Here, we intend to talk about Individual/Private Entrepreneurship (Sole Partnership). This is the best business structure for freelancers, digital nomads, ex-pats, and sole entrepreneurs from all over the globe. A Private Entrepreneur is a person, not a legal entity, who operates his/her own business and is the company’s sole proprietor. There is no limit to the number of activities that may be carried out by an Individual Entrepreneur. What is limited is the kind of activity that may be engaged in, something discussed in detail below or in our blog here. An Individual Entrepreneur’s assets are not separated from his/her business.

There are many reasons for wanting to do business in Georgia, and being an Individual Entrepreneur offers additional advantages, such as the 1% tax on an income falling between GEL 30,000 and GEL 500,000 (approximately EUR 125,000). The 1% tax rate is not, however, granted automatically. The Entrepreneur must apply for SMALL BUSINESS STATUS to receive the benefit.  If your turnover is less than GEL 30,000 (approximately EUR 7500), then you qualify for Micro Business Status and your tax rate is 0%.

Contact our legal advisors in Georgia.

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