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The same efficiency applies to companies registered using Power of Attorney. 0-20% Corporate Tax Corporate income tax rates in Georgia range from 0% to 20%, depending on the nature of the business. Certain activities in Free Zones enjoy full tax exemption. Moreover, special tax advantages apply to IT companies (5% tax), small businesses (1% tax), and sea shipping (5% tax). Typically, even regular limited liability companies (LLCs) do not incur corporate income tax unless distributing dividends. No restrictions on foreign ownership or number of directors Georgia imposes no restrictions on company ownership, allowing for ownership by Georgian citizens, foreign nationals, or a combination thereof. Additionally, a company's owner can be a legal entity registered outside of Georgia, and foreign shareholders can also serve as directors. There are no limitations on the number of directors in a company. No minimum capital requirement Companies can be established in Georgia without any initial capital injection. The company's capital may remain at 0. Remote company formation and management Setting up a company in Georgia does not require an in-person visit. Through a simple Power of Attorney, we can register your business in Georgia within a single day, upon receipt of the necessary documents. Over 56 double taxation avoidance treaties with different countries Georgia boasts over 56 double taxation avoidance treaties with various countries, augmenting the appeal of its tax benefits. Our team of legal experts assists in navigating these agreements to prevent double taxation. Steps to register a new business in Georgia Step 1: Name registration Selecting a business name stands as a pivotal step in launching your enterprise in Georgia. Tetra Consultants will conduct a thorough name search, striving to reserve your preferred name with the Georgia Secretary of State. This ensures not only compliance but also establishes your distinct identity within the market. Step 2: Determining the legal structure Deciding the legal structure—be it a corporation, limited liability company, or limited partnership—enables a business to tailor its operations to meet specific regulatory needs. Various business structures in Georgia entail distinct legal obligations, underscoring the importance of this determination for compliance. Step 3: Appointing a registered agent When registering a business in Georgia, any foreign entity must appoint a registered agent located within the state. This agent, whether an individual or a legal entity, is authorized to receive official communications on behalf of the company. Tetra Consultants offers assistance in appointing local registered agents with registered office addresses, ensuring smooth communication processes. 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Tetra Consultants excel in offshore company incorporation, ensuring all client needs are met, allowing for peace of mind and freeing up time to focus on other critical aspects of your business. Step 6: Obtain a tax identification number Businesses registering in Georgia must acquire a tax identification number for tax purposes. To do so, they must apply to the Internal Revenue Service (IRS) by completing Form SS-4. The application can be submitted online, via fax, or by mail, based on the business's preference. Tetra Consultants' experienced team can guide you through the process of obtaining a Tax Identification Number and other offshore license services for your business. Partnering with Tetra Consultants provides invaluable support in establishing your business in Georgia. Step 7: Opening a corporate bank account Following registration, Tetra Consultants facilitates the process of opening a corporate bank account for your business in Georgia. 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