Free Industrial Zones of Georgia for foreign entrepreneurs
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Free Industrial Zones of Georgia⬇️
Georgia is actively implementing investment projects, which attract foreign entrepreneurs to transfer their business. One of such projects is the creation of free industrial zones.
In addition to a good geographical location, the government of the country offers reduced tax rates and state grants for business development in Georgia.
In this article we will analyze what free industrial zones of Georgia are and how they attract foreign investors.
What are Georgia's Free Industrial Zones?
In the capital of Georgia, in Kutaisi and Poti, three zones have been identified where entrepreneurs can engage in industrial production. The owners of companies in these areas must clearly meet the criteria established by the state.
PPE in Kutaisi
The free industrial Zone in Kutaisi is more than 35 hectares. It has its own name – Hualing. One of the most significant regions of Georgia, through which the main production passes.
The convenient location helps to save on transportation costs, as there is an airport, a seaport and a highway to Tbilisi nearby.
PPE in Tbilisi
A relatively small free industrial zone is located in Tbilisi. A small number of plots available for rent allow foreign entrepreneurs conduct their business directly in the capital of Georgia.
PPE in Poti
For import via the Black Sea, the free industrial zone of Poti should be studied. A huge territory for industrial production is considered the main one for attracting foreign investors.
The presence of a railway line provides an opportunity to save on the transportation of goods. In addition, the list of available licenses on the Way is much more extensive than in other PPE.
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Advantages of Georgia's Free Industrial Zones
The main advantage is considered to be reduced tax rates for business owners on the territory of a PPE in Georgia.
Foreign entrepreneurs who have received a license to produce in PPE pay only two taxes:
- 4% revenue tax;
- 20% income tax.
Do not forget that these types of taxes apply to services for residents of Georgia. But if goods are purchased from other sources, there is a situation of double payment of taxes. To prevent this from happening, Georgia has signed a special agreement with several countries on the avoidance of double taxation.
For which fields of activity are created With FROM in Georgia
PPE in Georgia are created for production workers, however, other spheres of activity feel confident in the free industrial zones of Georgia. These include:
- directly manufacturers of products with the certificate “Made in Georgia”;
- participants in international trade;
- representatives of the field of information technology.
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