Frequently Asked Questions

Below you find a list of our most frequent asked questions, divided by topics.

1. Study in Georgia

Is there an age limit for admission to the University of Georgia?

No, there are no restrictions.

When should I apply?

Document submissions are accepted year-round. Typically, Georgian universities operate on a two-semester academic system, with admission periods in September/October and February/March.

How long does the enrollment process take?

This takes 30-45 days from the date of application.

What are the English language proficiency requirements?

Applicants should possess at least a B1 intermediate level of English proficiency. While an international English certification is preferred, it is not mandatory. Candidates have the option to take an English language exam directly through a Georgian university of their choice, available online.

Do universities provide accommodation?

In selected instances, a few universities offer on-campus housing. However, securing long-term accommodation in Georgia is generally affordable.

How many universities can I apply to at the same time?

You are allowed to submit documents to multiple universities; you can apply to several at once.

Can I study online or through distance learning?

No, all programs at Georgian universities are full-time on site basis.

Can I transfer from my home university to the University of Georgia?

Yes, you can. After your studies are recognized, the university will issue an ECT recognition document

How do I check if a university is internationally recognized?

You can verify the international recognition of your chosen university by checking it on the official websites of the relevant recognition bodies.

What advice would you give to international students?

Choose wisely, enroll in the program you're passionate about, and immerse yourself as an engaged student. Give it your all!

2. Individual Entrepreneur in Georgia

Who Can Receive SMALL BUSINESS Status In Georgia now?

– Resident of any country who decides to register as an individual entrepreneur in Georgia – Individuals whose annual turnover does not exceed GEL 500,000 in two consecutive years

What If My Annual Turnover Exceeds GEL 500,000?

If your annual turnover exceeds this amount, your tax rate rises to 3% from the month you get more than GEL 500,000 turnover and continues until the end of the year.For example: Your turnover exceeded GEL 500,000 in September 2021. Your tax rate becomes 3% from September till December 2021. Beginning in January 2022 you return to a 1% rate until turnover exceeds the limit again.

What Kind Of Business Activities Are Allowed For SMALL BUSINESS Status Owners?

– Marketing services – Cryptocurrency trading – Online trading – Intermediary services

What Kind Of Business Activities Are NOT Allowed For SMALL BUSINESS Status Owners?

– Activities requiring special licensing – Production of excise goods – Gambling – Financial services and operations – Advocatory services, Law firm – Tax and legal consulting – Foreign exchange transactions – Medical services – Architectural services – Auditory and notary services – Beauty centers – Car repair services

What Is The Time Frame For BUSINESS Status Registration?

An individual entrepreneur can be registered and receive status in a day. Small business status and the 1% tax rate, however, are only valid from the first day of the next month.

What Kind Of Incomes Are Covered By The 1% And 3% Tax Rates?

All incomes that are received from selling a service or product.

What Kind Of Incomes Are Not Covered By The 1% And 3% Tax Rates?

– Incomes in the form of a salary – Incomes from property leasing – Incomes from loans – Profit from gambling – Incomes from gifts – Profits from selling property, vehicles, securities – Incomes from inherited property – Incomes in the form of dividends – Incomes from interest rates – Incomes in the form of royalties – Incomes from debt forgiveness – Incomes received from the sales of partner shares

How Often Do I Pay 1% Tax, And How Do I Report It?

The 1% tax rate is payable every month (no later than the 15th day of the next month). Simple tax declarations must also be sent no later than 15th of each month. Apart from that you should keep a special journal proving all of your expenses. Our accountant can handle all the paperwork if you don’t want to do it yourself

How Many Days Should I Plan To Be In Georgia? Can I Receive IE Status Remotely?

You need to plan to be here for a minimum of 3, an average of 4, and a maximum of 5 days.But a visit is not required. We can open both a company and a bank account within a week with just a Power of Attorney.

How About Banking For IE?

A bank account for an Individual Entrepreneur can be opened both in Georgia and in Digital Banks

When Is My SMALL BUSINESS Status Cancelled?

– When you contact the Revenue Services office to cancel it – If your annual income exceeds GEL 500,000 per year in two consecutive years under active SMALL BUSINESS status

3. Free Zones and Taxation in Georgia

What Kinds Of Activity Are Forbidden In Free Zones?

According to the law on free industrial zones the following activities shall be prohibited within a free industrial zone: a) manufacturing arms and ammunition, trading in arms and ammunition; b) manufacturing nuclear and radioactive substances, trading in nuclear and radioactive substances; c) bringing in, storing, manufacturing and/or selling narcotic and psychotropic substances; d) bringing in, storing, manufacturing and/or selling tobacco products and/or tobacco raw materials, except as provided for in the second paragraph of this article.

Do I Need To Renew My Free Zone License?

Yes, it is obligatory for Free Zone companies to renew licenses annually

How Can I Register A Company In A Free Zone Remotely?

You can send us a POA (Power of Attorney), and we will represent you in all required state institutions.

Are There Any Additional Fees For Having A Company In A Free Zone?

Depending on your needs, Free Zone administration can charge different rates for services. We can help select the best option to avoid paying more than is necessary.

4. Visa And Residence Permit In Georgia

How Do I Become A Resident Of Georgia?

Receiving any type of residence permits automatically means your legal residence in Tbilisi. Please see steps and procedures above.

How can I obtain a permanent residence permit?

Permanent residence is for a foreigner with a temporary residence permit who has resided in Georgia for six years or a foreigner with an investment residence permit residing in Georgia for 5 years and seeking its extension.

Is a residence permit equal to Georgian citizenship?

It is almost equal to Georgian citizenship. As a resident of Georgia you possess all the rights and advantages that a citizen of Georgia does. The only difference is you do not have a Georgian Passport or enjoy a visa free regime with those countries granting as much to Georgian citizens.

Can I become a citizen of Georgia?

Almost mission impossible. You are eligible for Georgian citizenship after 10 years of short-term residence in Tbilisi, Georgia. In addition to the residence requirement, you will have to show basic knowledge of the Georgian language, history, and law. You must own real estate, a job, or your own business in Georgia. A Georgian passport allows visa-free travel to 114 countries, including EU/Schengen countries, most of CIS countries, Ukraine, Iran and Turkey.

Is dual citizenship allowed in Georgia?

Yes, in some cases it is possible.

Is it possible to obtain a residence permit by investing in an existing business as opposed to a New One?

Yes. You can invest in various businesses. The main thing here is to consider the bottom line of the investment amount in order to receive the permit. The investment residence permit is granted for an investment of a minimum of USD 300,000, as stated above.

Does Georgia Possess Minimum Investment Requirements?

In some cases, yes, it has. If you are going to work in or from Georgia, to study here, or to stay in Georgia for at least 183 days, then you do not need any investment for your residence permit. In other cases, you need to invest a different amount of money in order to receive a permit.

How Long Is My Residence Permit/Residence Card Valid?

Residence permits and cards in Georgia has time limit of 6 months to 1 year and are extendable for 5 more years with a maximum total of 6 years. After this, residents can request a permanent residence permit.

What Are the Minimum Investment Requirements When I Buy Real Estate For My Residence Permit?

If you would like to get short-term residence, you have to own real estate. The minimum value of the property should be USD 100,000.

Can I apply for residence during my tourist visit?

Yes, you can, but take into account that you must have at least 40 days left on your visa.

How long does it take to get a residence permit?

How fast you will prepare the needed documentation depends on you and on our helping you. However, after the application has been made, a residence permit is granted in 10 to 30 days.

Can I Get Residence Remotely Or Am I Required To Be Physically Present?

You are required to be physically present in Tbilisi, in the Public Service Hall. However, you don’t need to be in Georgia in order to prolong your existing residency.

Does company registration automatically grant the residence permit?

No, It does not. It certainly helps, but it does not guarantee it automatically.

5. Tax Residency in Georgia

Why Would I Need To Be A Tax Resident Of Georgia?

You will gain plenty of advantages for your generated income.

For Whom Is The High Net Worth Individual Program?

This program is perfect for digital nomads, expats, freelancers and individuals, who do not spent enough time in any country to obtain tax residency but want to avoid taxes in their country of citizenship.

Does It Mean I Can Live Wherever I Want And Pay Taxes Under Georgian Legislation?

Getting a Georgian Tax residency does not mean you can live in any other county you wish and just not pay tax there. Tax liabilities can arise for many reasons in other countries, based on physical presence or managing a business there. You may owe taxes elsewhere, other than Georgia, and it will come down to the local laws of the other countries you visit.

What Is A Validity Time For A Georgian Tax Residency?

Tax residency in Georgia is valid for maximum one year. The country requires annual renewal. Statement must be applied for every year and obligatory documents must be resubmitted for each application.

Can I Gain Tax Residency Remotely, Without Visiting Tbilisi?

In some cases, yes, it is possible.

What Is The Time Frame For Getting Tax Residency?

If the application is accepted without problems, you should be granted your tax residency within 7 working days. Otherwise, you will be notified of additional requirements and must provide additional information as requested within 30 days in order to complete the application.

What Are Foreign Sourced Incomes?

Georgian Tax Code says foreign sourced income is tax free when you are tax resident of Georgia. But, while you are in Georgia, the most of the incomes that you receive from other country are not considered as foreign sourced ones. Please contact us for consultation.Foreign source income is passive income gained from abroad (royalties, dividends, etc.).

Which Incomes Are Tax Free When Having Georgian Tax Residency?

Foreign sourced incomes are tax free for a Georgian tax residents.

What Are Georgian Sourced Incomes?

Income that you receive during physical presence in Georgia, including:– Income from foreign clients – Earned from your foreign employer (If there is no double taxation agreement between Georgia and your employer’s country)For every Georgian sourced income you must pay income tax according to Georgian legislation.

Can I Receive Tax Free Income From Foreign Countries?

Can I Receive Tax Free Income From Foreign Countries? If you register as an Individual Entrepreneur in Georgia and get Small Business Status, according to Georgian legislation, your revenue received from foreign countries will be almost tax free, taxable only for 1%. Consider, it must not be income in form of a salary, but any other revenue received from selling service or product.

6. Company registration in Georgia

What Is The Time Frame For Company Registration?

A company can be registered in 1 day, though on average you should plan for 2 to 5 days, with 5 days being the maximum required to finish all the procedures. In case of remote registration, a week is needed on average.

Are There Any Restrictions On Nationality, On Who Can Start A Business In Georgia?

No. A resident of any country can set up a business in Georgia.

What Are The Legal Forms Of Companies In Georgia?

Limited Liability Company (LLC) Legal entity with liability to creditors limited to its property. The partners (founders) are not responsible for the company’s liabilities. The capital of an LLC can be specified at any amount and is divided into shares. A partners’ meeting must be held to consider annual results and other issues. An LLC can be founded by one person.Joint Stock Company (JSC) Legal entity with capital divided into a certain number and certain types of shares defined by the company charter. A JSC’s liability to creditors is limited only by its property. Shareholders are not responsible for the company’s liabilities. The capital of a JSC can be any amount. A JSC is entitled to issue ordinary and preferred shares unless the company charter states otherwise.Limited Partnership (LP) Legal entity in which two or more persons carry out entrepreneurial activities under a single entity name. The liability of some partners (limited partners) to creditors is limited to a certain warranty amount, while the liability of other partners, i.e., full partners (general partners), is not limited. The partners of an LP can be both legal entities and individuals. Partners with limited liability (limited partners) are not allowed to participate in the management of the LP.Branch Office (BO) Structural sub-unit of a business entity and is not a separate legal entity.

7. Company Bank Account in Georgia

How Much Time Will I Need To Open A Corporate Bank Account In Tbilisi?

The account opening process itself takes around 2-3 days. If we have everything prepared in advance, you won’t need more than 3 days.

I Am Not Planning On Possessing Economic Presence In Georgia: What Are My Options?

You can look to other jurisdictions for banking. First, choose the right country for you. Then get approval to open an account, prepare the necessary documents, and submit them to the bank to get access to your bank account.

Where Can I Open An Account?

The list of countries changes from time to time. There are banks in western and eastern Europe, in the Caucasus, in Asia. The bank accounts that we offer are opened remotely. All of them come with internet banking and debit cards.

Which EMI-S Work With Georgian Companies?

This list is also subject to change. Some of the usual suspects include Wise, Paysera, Payoneer, and similar FinTechs. The complete list is quite large, and we can help you pick the one best suited to your needs.

8. Accounting services in Georgia

What type of companies do you work for?

Any type, including: LLC – Limited Liability Company, JSC – Joint Stock Company, and BO – Branch Office of international company among others. We provide accounting services for Individual Entrepreneurs as well.

Can I get free consultation before partnering up with you?

Of course! We provide free consultations.

9. Legal Services in Georgia

Who Can Receive Legal Services From You?

We provide our service to businesses and individuals. Hence, we work for anyone looking for a reliable legal partner in his/her business activities.

What Are The Main Fields You Work In?

We work in the following fields: - Corporate and Business Law; - Company law; - Commercial Law; - Contract law; - Tax law; Licenses and Permits; - Commercial Litigation & Arbitration; - Employment & Work; - Education; - Power of Attorney; - Legalization and many more. We can assist you in all aspects of Georgian law.

Can I Receive All Of The Above-Mentioned Legal Services Remotely?

Of course. With Power of Attorney our team can represent you in all state and legal institutions. Therefore, we handle everything you need in Tbilisi, Georgia.

Can I Get A Free Consultation About My Legal Issue?

We are ready to listen to your requirements and provide a professional consultation for free anytime you need. Contact us to resolve all your legal issues with a one stop-shop format.

10. Apostille, notary and legalization services in Georgia

What Is An Apostille?

An Apostille is a verification of the documents, an authentication certification, and a stamp. It was created for use among nations participating in the Hague Convention, of which Georgia is also a signatory. The members of this convention have an agreement to accept documents issued and apostilled by other convention member countries. An Apostille may pertain to different documents, including: marriage, birth, and death certificates as well as court documents, Power of Attorney, patents, diplomas etc.

How Do I Get An Apostille In Georgia?

The process for different types of documents vary. It can be complicated in some cases. Contact us, send us your documents, and we can take care of the other procedures involved in legalization.

Which Documents Need To Be Apostilled?

There are different kinds of documents, such as those issued by the ministry of education and science, diplomas, certificates etc.. On the other hand there are public documents, a document submitted for registering a business in Georgia, for example Power of Attorney, birth or marriage certificates, and the list goes on.

What Is Legalization?

Legalization is the official process of document authentication granted by international governments.

What Is The Difference Between Legalization And Apostille?

Legalization is the same process of document authentication as an apostille. But when a country does not recognize a document apostilled by another country, the legalization of documents must be carried out by foreign authorities.

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