Company Formation In Tbilisi Georgia - Our company provides Company Formation Services in Georgia fast and quality. We help nonresidences to establish their company in Georgia and open a corporate bank account. We handle all legal procedures and allow clients to focus on their company formation process without having to worry about any type of legal complications.
The forms of a business organization under Georgian law are:
LIMITED LIABILITY COMPANY (LLC/LTD)
A limited liability company is a company whose liability to creditors is limited to all its assets. The capital of a limited liability company is divided into transferable shares. The partners of an enterprise exercise their management powers through a general meeting of partners unless otherwise provided for by the Charter.
Limited Partnership (LP)
A limited partnership is a company where several persons carry out entrepreneurial activity under one common company name, where the liability of one or several partners to creditors of the partnership is limited to the payment of a fixed-guarantee amount – limited partners (komandits) and the liability of other partners is not limited – general partners (complementary). General partners (complementary) are jointly and severally liable to creditors with all their assets. A partner of a limited partnership may be natural as well as a legal person.
JOINT STOCK COMPANY (JSC)
A joint-stock company is a company whose capital is divided into shares of a certain class and quantity as determined by the Charter of the company. A share is intangible registered security that evidences the obligations of a joint-stock company to a partner (shareholder) and the rights of the shareholder in the joint-stock company. The Charter of a joint-stock company may determine a value below which the values of shares may not be set for the initial issuance of the shares for a given class (par value). The liability of a joint-stock company to its creditors shall be limited to all of its assets. The shareholder of a joint-stock company shall not be liable for the obligations of the joint-stock company. When founding a joint-stock company, the capital can be determined in any amount.
Cooperative is a company based on the labor activity of its members or established for developing the business and increasing the income of the members. The
objective of a cooperative is the satisfaction of the interests of the members. A cooperative is not aiming primarily at gaining profit.
A general partnership is a company where several persons (partners) conduct entrepreneurial activity jointly, under one common company name, and are jointly and severally liable with all their assets to the creditors as joint debtors.
An individual entrepreneur is a physical person, who will acquire its’ status of entrepreneur only upon registration in the Registry of Entrepreneurs and Non-entrepreneurial (Non-commercial) Legal Persons (‘the Entrepreneurial Registry’)
BRANCH OFFICE (BO)
A foreign enterprise may establish a branch office that shall not a legal person. The registration of the branch office (permanent establishment) of a foreign enterprise shall be performed by the registration authority according to the legal address of that branch office. The registration authority shall be obliged to register the branch office (permanent establishment) of a foreign enterprise upon submission of the documents laid down by the legislation of Georgia.
How can I register a Georgian company?
Georgian legal entities shall be registered under the Ministry of Justice of Georgia. The documents must include a set of information, such as the name of the company, Legal address, the type of company (LLC, JSC Etc...) Information about shares...
Opening a Limited Liability Company (LLC) in Georgia
The limited liability company is the most popular legal entity selected by foreign investors all over the world. The registration of LLC in Georgia usually takes one or two days and the investors must follow a series of steps to legally incorporate the company. Our Lawyers in Georgia can guide you through the incorporation procedure and help you set up your Georgian limited liability company.
How to open a personal or corporate bank account in Georgia?
After the setup of the company, you can open a bank account. The corporate bank account can be set up at any commercial bank in Georgia, and the company can make local and international transfers for corporate purposes.
Can an investor set up the company via Power of Attorney? (PoA)
We can organize the registration of your company in Georgia without your presence (via Power of Attorney, (PoA)). The client is sending us Notarized and Apostilled (or Legalized) Power of Attorney. We will draft necessary documents and submit documents for registration on the basis of a POA. The same procedure is used for the opening of corporate bank accounts.
How to get your Georgian Residence Permit?
To begin with, this type of residency goes to individuals who have founded/registered a company in Georgia. There are certain figures which are important for an investor’s company. The founded company’s annual turnover shall exceed 50,000 GEL (which is equivalent to 17,000 USD). More importantly, the founder or founders’ monthly income from this business activity shall not be less than five times the amount of Georgian Citizen minimum wage. The government of Georgia announces the minimum salary every year. For 2019, the minimum wage is 190 GEL; this means that the founder(s)’ salary should be around 950 GEL (no less than 330 USD)