Opportunities in Georgia (country)
Georgia is quite an interesting place. Even though it might not be the most refined country in the world, there are lots of advantages for doing business here.
This a business–friendly environment, banking is very good and sophisticated and forming a company is not complicated. You only pay tax on distributions, not on profit. Also, you can form a free zone company and pay zero tax.
There is no CRS (common reporting standards) here, which makes it appealing to lots of people.
Salaries are quite low, so it might be a good place to hire employees. Lots of people can speak English and Russian which can be a huge advantage, especially if you want to penetrate to the Russian market.
Georgia positions itself as a hub of the region. It can be a good place to operate from if you want to access Russia, Azerbaijan, Turkey, Iran, etc.
The gambling industry is huge in this country, which makes perfect sense since it’s prohibited in some of the surrounding countries. Lots of tourists come for this reason.
Their passport is not the best in the world, but it’s not red flagged as lots of other second passports. You will be able to get more things done with Georgian passport, than with some of the most common passports which can be obtained by more known citizenship by investment programs.
Overall, it’s a competitive market for the right person.
We help clients legally reduce their tax through international tax planning, as well as help with company formations, bank account openings, residency, citizenship, and payment processing. Have a question you want answered? Book a consultation now!