Opening of a startup in Georgia. Advantages of doing business in Georgia, what you need for a startup in Georgia
Excellent conditions for running your own business have been created in Georgia. Find out what you need to open a startup in Georgia in the Madloba catalog. Right now, study the advantages and benefits that are available to every entrepreneur, and what opportunities open up to the IT sphere!
Start doing business in Georgia⬇️
Georgia, which is gaining momentum in growth and development, is increasingly attracting startups to open businesses and various kinds of companies.
The country is hospitable not only to tourists, but also to young entrepreneurs. Why this happens, and what you need to know to run a successful business in Georgia, read this article.
Advantages of Georgia for startups
Innovative programs, special tax rates, benefits and other motivational projects attract entrepreneurs to do business in Georgia.
Due to the entry of new investments, the country's economy is developing, the standard of living of citizens is growing. It is the government that is interested in increasing the number of startups. Therefore, changes are regularly made to legislation aimed at creating a comfortable business environment in Georgia.
Free services for startups in Georgia
Laboratories and special agencies have been created in the country, where aspiring entrepreneurs can take advantage of a huge range of services. Among them are incubators, laboratories, training centers, coworking and much more.
Thanks to such assistance, high technologies are developing everywhere. Some concepts allow you to test a startup and determine ways to bring it into a cost-effective and affordable project.
Support of the world community
The active development of the economy has allowed Georgia to take a leading position in the world rankings of the availability of doing business. The first place in Europe and the 7th in the world in this indicator clearly indicate the advantages and prospects for the growth of any entrepreneur.
Confidence in the future, the reliability of banking systems, and the absence of bureaucracy significantly make life easier for startups in Georgia.
Tax benefits
Low tax rates for the IT sector and other entrepreneurs, they provide a regular influx of new startups.
With a competent approach to the choice of organizational and legal form and taxes, every businessman here can save on expenses and thereby increase income.
For Georgian startups in the field of information technology, there is a rate of 5% on dividends, 20% on income tax on employees' salaries and 2% deductions to the Pension Fund. At the same time, there is no income tax and VAT for foreign counterparties.
Who finances startups in Georgia
The Georgian government is interested in the development of the country, so favorable conditions are being created for startups. This approach of the state guarantees the inflow of foreign investment to the country.
Today, every startup can try to get a development grant here. Let's talk about the largest sources of financing for startups in Georgia.
Startup Georgia
The program, which is the main component of Georgia's economic reform, is aimed at developing and supporting startups throughout the country. Since 2016, 3,000 applications have been processed.
The fields of activity for participation in the program are limited, but these are precisely the areas that are rapidly developing and making the most tangible contribution to the economy.
USAID Zrda
Special grants have been created for startups on the border with South Ossetia and Abkhazia in Georgia, which provide financing on special preferential terms.
Innovative enterprises are offered a long-term loan of up to 90% of the amount, while the growth of the project implies the withdrawal of 100% of the amount in the future as a free grant.
Produce in Georgia
For the growth of entrepreneurial activity in the country, the program "Produces in Georgia" has been created. With its help, businessmen organize new jobs, expand production and support operating companies.
A number of special conditions for grant recipients allows you to start creating new products within 2 years after approval and receipt of a loan, and within 1 year to expand your existing business.
Startuper TBC
Startups regularly need help and support in a variety of issues. From creating an idea for a business card to non-credit products. This is what the program is aimed at, where businessmen receive not only financial support.
Bank of Georgia Female Start Upper
Financing for the female half of society helps women from all over the world to develop new companies and expand existing businesses.
The grant amount is up to one million lari for a period of 5 years.
Banks of Georgia⬇️
Startup registration in Georgia
The government's actions aimed at increasing investment capital within the country have led to a transparent and simple system registration of new companies.
Preferential conditions for startups in Georgia, especially for the field of information technology, help to register in 4 stages:
- Opening a company in the House of Justice remotely, or in person.
- Requesting access to the tax office, obtaining a login and password for a registered company.
- Registration of an application for the assignment of the virtual status of the company in the Ministry of Finance.
- Transfer of the received certificate to the tax inspectorate.
If you plan to move a startup to Georgia, then you must either close the company and register it again in Georgia, or open a branch of an existing company.
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Так много захватывающих занятий и потрясающей еды, связанной с грузинской культурой, которые я мог бы включить в мой ресторан. Все от начинок хачапури до традиционного шашлыка!
Конечно, открытие ресторана - это огромный шаг. Но я абсолютно уверен в успехе моей идеи. У меня много идей, и я бы очень хотел с вами поделиться. Что вы думаете о идее открыть свой ресторан в Грузии? Есть ли у вас какие-нибудь советы и рекомендации, которые вы могли бы предоставить?
- благоприятный налоговый климат;
- высококвалифицированная рабочая сила;
- поддержка стартапов со стороны государства и венчурных инвесторов.