Home Company Formation(IE) -Individual Entrepreneur Key Benefits for Individual Entrepreneurs in Georgia

Key Benefits for Individual Entrepreneurs in Georgia

by ads.georgialegalservice
Key Benefits for Individual Entrepreneurs in Georgia 2021

0% to 1% Income tax instead of 20%

If your annual turnover does not exceed GEL 500,000, you pay 0% or 1% instead of the usual 20%. More specifically, if your business turnover is not more than GEL 30 000 per annum, you qualify for Micro Business Status and your income tax rate is 0%. If your turnover is from GEL 30,000 to GEL 500,000, you qualify for Small Business Status and your tax rate is 1%.

No Citizenship Limitation

An Individual Entrepreneur can come from anywhere. Georgian Citizenship or Permanent Residency are not required.

No Limitation on the Number of Activities

An Individual Entrepreneur can be active in multiple fields. There is no limitation on the number of activities your business is involved in.

Key Criteria for being an Individual Entrepreneur in Tbilisi, Georgia

You must spend at least 183 days in Georgia (or be a High Net Worth Individual) and hence a tax resident of the country

Your company’s annual turnover must not exceed GEL 500,000

You must be the sole owner of a business in Georgia or another country

Your business activity must not fall within the list of prohibited activities for Individual Entrepreneurs

 

Contact our legal advisors in Georgia. and we will help you register a business in Georgia online.

 

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