A Limited Liability Company (LLC) constitutes a separate legal entity, wherein the liability of its partners (founders) towards creditors is restricted exclusively to the assets of the LLC. The partners hold no personal liability for the obligations incurred by the company. The capital contribution of an LLC is flexible and may be set at any desired amount, with said capital being apportioned into shares. It is mandated that an annual general meeting of the partners be convened to deliberate on the fiscal year's outcomes and other essential matters. Notably, an LLC can be established by a sole individual.
Remote Company Formation | €249 |
Bank Account Opening with Company Registration Package | €249 |
Bank Account Opening for a Registered Company | €499 |
VAT Registration | €199 |
Virtual Office Services Starting from... | €69/month |
If you're looking to establish a business where you're the sole proprietor, registering as an Individual Entrepreneur with Small Business Status in Georgia can bring significant tax
advantages.
The Small Business Status (SBS) is a tailored tax program designed for Individual Entrepreneurs (IEs) in Georgia. It allows eligible IEs to apply for the SBS, enabling them to pay a
reduced 1% tax on turnover up to a maximum annual turnover of 500,000 GEL. This often translates into substantial tax savings, particularly beneficial for freelancers and solopreneurs.
Legal Vista offers comprehensive support for both Individual Entrepreneur (IE) registration and Small Business Status (SBS) application (for qualifying individuals). Our services ensure a
swift and professional setup, guiding you through potential translation challenges and legal intricacies in Georgian law, guaranteeing a hassle-free registration process without future
legal complications.
As per Government Resolution №415 of Georgia, the following activities are ineligible for Small Business Status:
It's important to note that income from employment or similar activities won't qualify for the 1% tax rate under the Small Business Status. Such income is subject to the standard 20% tax rate and isn't considered part of the 1% taxable income for small businesses.
Included in the price of this package. No surprises or hidden costs.
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Also included 3 hours of Free Online Legal Consultation with our Lawyers.
A Limited Partnership (LP) is a business structure comprising at least one general partner and one or more limited partners. The general partner(s) manage the business and are personally liable for the partnership's debts and obligations. In contrast, the limited partner(s) contribute capital and share in the profits but are not involved in day-to-day management and have liability limited to the extent of their investment in the partnership.
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Also included 3 hours of Free Online Legal Consultation with our Lawyers.
A Joint Stock Company (JSC) is a corporate entity whose capital is divided into shares, which are held by shareholders. The liability of shareholders is limited to the value of their shares. A JSC is governed by a board of directors elected by the shareholders, and it operates under a charter and bylaws that define its governance structure and operational procedures. The shares of a JSC can be freely transferred, providing liquidity and potential for raising capital through public or private offerings.
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Also included 3 hours of Free Online Legal Consultation with our Lawyers.
A General Partnership (GP) is a business entity formed by two or more individuals (partners) who agree to share in the management, profits, and liabilities of the business. In a GP, each partner has equal rights in the management and control of the business, unless otherwise stipulated in the partnership agreement. Importantly, partners in a GP have joint and several liability, meaning each partner is personally liable for the debts and obligations of the partnership.
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Also included 3 hours of Free Online Legal Consultation with our Lawyers.
A Branch Office is an extension of a parent company, established to conduct business operations in a different location from the company's principal place of business. It is not a separate legal entity but operates as part of the parent company, with its activities governed by the parent company's policies and management. The Branch Office can engage in business activities, enter into contracts, and generate revenue on behalf of the parent company. The parent company holds full legal responsibility for the liabilities and obligations incurred by the Branch Office.
Included in the price of this package. No surprises or hidden costs.
We're available for you 24/7; just call, email or send a message on Whatsapp.
Also included 3 hours of Free Online Legal Consultation with our Lawyers.