Georgia

Why Georgia?

Georgia (the country, not the US state) has rapidly emerged as one of the most attractive jurisdictions for location-independent entrepreneurs. With its territorial tax system, low cost of living, and welcoming attitude toward foreigners, Georgia offers a compelling alternative to more established business hubs.

The country ranks consistently high in ease of doing business indices and has made it remarkably simple to establish a company, open bank accounts, and obtain residency — often within days.

Tax System

Georgia operates a territorial tax system, meaning only income sourced within Georgia is taxed. Foreign-source income is generally exempt from Georgian income tax for individuals.

For businesses, Georgia offers several structures with favorable tax treatment. The Small Business Status allows qualifying companies with revenue under 500,000 GEL (approximately $185,000) to pay just 1% tax on gross revenue instead of the standard 15% corporate tax.

The Virtual Zone status is available to IT companies and exempts them from corporate tax on income derived from IT services provided outside of Georgia.

Company Formation

Forming a company in Georgia is fast and affordable. Registration can be completed in a single day at the Public Service Hall. The most common structures for international entrepreneurs are:

• Individual Entrepreneur (IE) — Simplest structure, ideal for freelancers and small businesses
• LLC (Ltd / შპს) — Limited liability company, suitable for most businesses

Both structures can be set up with minimal capital requirements and without the need for a local partner or director.

Residency

Georgia offers generous visa-free access to many nationalities (up to one year for citizens of 95+ countries). For longer stays, several residency pathways exist, including investment-based permits and work permits tied to your own company.

The country also introduced a Remotely from Georgia program, allowing remote workers earning at least $2,000/month to live and work in Georgia for up to one year.

Banking

Georgia has a modern banking system with two major banks — Bank of Georgia and TBC Bank — both offering online banking, multi-currency accounts, and international transfers. Account opening typically requires an in-person visit but can often be completed the same day.

Cost of Living

One of Georgia's biggest draws is its affordability. Tbilisi offers a high quality of life at a fraction of Western European costs. Rent, food, transportation, and healthcare are all significantly cheaper than in most EU countries, making it an ideal base for entrepreneurs looking to keep overhead low while building their business.