Georgia Company Formation & Entity Choice

Entity types, incorporation and annual compliance

Companies in Georgia are governed by the Law of Georgia on Entrepreneurs and registered with the National Agency of Public Registry (NAPR) under the Ministry of Justice. The limited liability company (LLC / Shps) is by far the most common form and can be registered very quickly with no minimum capital.

• Most common entity type — Limited Liability Company (LLC / Shps) (Law of Georgia on Entrepreneurs)
• Other entity types — Joint Stock Company (JSC), General Partnership, Limited Partnership, Cooperative, branch of a foreign company, and individual entrepreneur (Law of Georgia on Entrepreneurs)
• Minimum share capital — LLC — No statutory minimum (can be GEL 1) GEL (Law of Georgia on Entrepreneurs)
• Minimum share capital — JSC — No fixed statutory minimum under the Entrepreneurs Law ((approx — confirm)) (Law of Georgia on Entrepreneurs)
• Registration authority — National Agency of Public Registry (NAPR), Ministry of Justice of Georgia (Law of Georgia on the Public Registry)
• Incorporation timeline — Typically 1 business day (same-day registration available at the Public Service Hall) ((approx — confirm)) (Law of Georgia on the Public Registry)
• Standard registration fee — GEL 100 for standard (next-day) registration; GEL 200 for same-day expedited registration GEL ((approx — confirm current state fee)) (Law of Georgia on the Public Registry)
• Core incorporation steps — Prepare and notarise charter/registration application, reserve company name, submit to NAPR (Public Service Hall), obtain extract from the Entrepreneurs Register, open a bank account, register as a taxpayer with the Revenue Service (Law of Georgia on Entrepreneurs)
• Tax registration — A taxpayer identification number is assigned on registration with NAPR; separate VAT registration is required once the GEL 100,000 threshold is met (or voluntarily) (Tax Code of Georgia)
• Core annual compliance — Monthly profit tax and VAT (if registered) returns, monthly payroll/pension reporting, and annual financial statement filing with SARAS for entities meeting size criteria (Law of Georgia on Accounting, Reporting and Auditing)
• Accounting/reporting standards — IFRS or IFRS for SMEs depending on entity category; oversight by SARAS (Service for Accounting, Reporting and Auditing Supervision) (Law of Georgia on Accounting, Reporting and Auditing)