Georgia’s Commercial potential is growing rapidly. For this reason, every year more and more foreign investors start their own businesses in Georgia. In such case it is essential to comply with the local laws and follow legal requirements.
Choosing the wrong organization for your business can cost you thousands of dollars and potentially leave your company vulnerable. Let our team show you the right way & help you focus on what really matters, growing your business!
What Can We Do For You?
Our team has solid expertise in company law and will provide you with professional advice and assistance in company registration process.
Our service in particular includes:
- Choosing the legal form of registration
- Carrying out the process of registration
- Consulting continuously on legal issues after registration.
There is an exhausting list of types of legal entities in Georgia: Joint Stock Company (JSC); Limited Liability Company (LLC); Limited Partnership, Cooperative; General Partnership.
Limited Liability Company (LLC) is the most common form of business entity in Georgia, due to its low financial risk of the owners – the owners are not personally liable for company’s debt or obligations. LLC may be established by individual or legal entity.
Joint Stock Company (JSC) – is legal entity whose property is divided into shares of nominal value. Shares certifies the rights of shareholders of the company. There are two types of shares applicable in the JSC, namely ordinary shares and privileged shares. The shareholders of the JSC may increase the capital of the company through issuing additional shares. The liability of a JSC is limited to its total assets. Shareholders are not liable for the obligations of company.
General Partnership (GP) – is a company where several persons jointly carry out independent entrepreneurial activity under the common company name. In GP the obligations of one or several partners towards the creditors of the partnership is limited to their investments into the company (limited partners – Comandits), while the other partners (Complementary) are personally liable for any debts arising in course of operation of the GP.
Limited Partnership (LP) – is a company where several partners carry out continuous and independent entrepreneurial activity under the common company name. The founders are all personally liable for any debt the company may undertake.
Cooperative (CO) – is a company incorporated with the objective to develop common business and increase the profits of its members. The objective of the cooperative is to accomplish the interests of its members. A cooperative is not primarily aimed at gaining profit. The cooperative is liable against the creditors only with its own property.
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.
Under the law of Georgia, any foreign legal entity may establish and operate its business through a Branch Office registered in Georgia.
Registration period: the registration is completed within one working day after submission of documents or on the same day.
Registration fee – standard fee includes 100 GEL, registration on the same day – 200 GEL.
Registration may be completed without your presence in Georgia.
Please, contact us for more details.