The highest authority in a limited liability company in Georgia is the general meeting of the shareholders. The general meeting is usually held on a yearly basis and the shareholders can make decisions regarding the beginning and termination of the commercial activities in which the company is involved, the purchasing or selling of real estate property, buying or selling shares, the approval of the annual statements. They may also decide on matters such as borrowing money, the request of paying deposits or refunding deposits, naming the directors, and approving their reports.
A general meeting can also be established by the company’s director. He must send an invitation alongside the meeting agenda to all the participants a minimum of one week before the meeting. The participants may bring modifications to the agenda in maximum of three days after receiving it. The participants at the meeting are allowed to take decisions only if the partners with decisional power are attending. If they can’t attend, another meeting related to the same subject can be appointed. In this situation, the decisions can be taken even if the partners who have decisional power are not attending.
A limited liability company established in Georgia can also be represented by a supervisory board, named by the general meeting. The limited liability company’s interests are represented by an appointed director; our team of “Business Register Georgia” agents can offer more details related to other similar matters. We can help you start a company in Georgia.