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Strategic Location

Georgia is situated at the crossroads between Western Asia and Eastern Europe. This particular geographical position gives the country many advantages for import and export activities, international business and foreign business investments. The country’s strategic location gives Georgia an enormous advantage and has shaped its foreign relations and the way in which the country opened itself to foreign investments

Trade Relations & Agreements

Georgia has trade relations with many countries worldwide

  • The Association Agreement signed between EU and Georgia introduces a preferential trade regime – the Deep and Comprehensive Free Trade Area (DCFTA) which increases market access to over 200 million people
  • Georgia has signed free trade agreements with Turkey and the Commonwealth of Independent States (CIS), as well as general preferential agreements with countries like the USA, Canada and Japan
  • The country has signed a comprehensive free trade agreement with EFTA nations (Switzerland, Liechtenstein, Norway and Iceland)
  • In 2016 China and Georgia signed the Tax-Free Agreement which covers 17 fields including commodity trade, service trade, intellectual property and emerging issues like e-commerce. The agreement will enter into force in mid-2017
  • Georgia is a member of the World Trade Organization since 2000

Ease of Doing Business

Georgia is ranked 16 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Georgia improved to 16 in 2016 from 23 in 2015.

Corruption Free

From 2003 forward, the World Bank has recognized Georgia as one of the world’s fastest reforming economies and as a leader in fighting corruption. Free market country has made sweeping economic reforms since 2003. Georgia is also among the top 10 global improvers for implementing reforms to their business regulations

According to Transparency International Georgia ranks 44th in least corrupt nations out of 175 countries. By 2004 Georgia was 133 with regards of corruption and in 2016 there was an all time improvement with the indicator as it became 44th in ranking.

Reforms

Over the course of the last years, Georgia implemented five reforms in the following areas: Getting Electricity, Registering Property, Protecting Minority Investors, Trading Across Borders and Paying Taxes. With regards of investors, the economy strengthened minority investor protections by increasing shareholder rights and role in major corporate decisions, also by clarifying ownership and control structures.

Low Taxes

Georgia has a very flexible and comprehensive legislation that creates business friendly environment and maintains healthy investment climate. Taxation is simple, low, efficient and fair. Tax and customs legislation is unified under one tax code and the collection of taxes and supervision of the tax environment is provided by Georgia Revenue Service.

There are only 6 flat taxes in Georgia:
20% – Personal Income Tax 15% – Corporate Profit Tax
18% – Value Added Tax (VAT) 0%, 5% or 12% – Import Tax
on few selected goods – Excise Tax up to 1% – Property Tax

Zero Tax Regime on Reinvestment of Profits

From the beginning of 2017 a new Corporate Tax Policy based on the famous “Estonian Tax Model” went into force in Georgia. It means that only those profits that are distributed or paid out as dividends or fringe benefits will be taxable. Therefore, if a company reinvests its profits, it will be freed from tax charges.
This new reform makes business climate and investing environment even more attractive in the country. Apart from reduced payments, smaller range of taxable activities will give investors and business owners great advantage of taking more control over their business issues.