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Legislation Related to Commercial Activities in Georgia

Legislation Related to Commercial Activities in Georgia

Updated on Friday 15th November 2019

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legislation-related-to-commercial-activities-in-georgia.jpgCommercial activities in Georgia are regulated by a set of laws. Although most of the countries have a Commercial Code, which provides a comprehensive image on the commercial activities that can be carried out in the respective jurisdiction, Georgia does not have a similar document.
 
Businessmen who are interested in opening a company in Georgia will need to study the regulations of various legislative acts and codes, which establish the manner in which a company must be registered, the types of commercial activities allowed in the country, the legal entities investors can choose from, the taxation of such companies and many others. Our team of lawyers in Georgia can offer an in-depth presentation on the commercial legislation. 
 

The Tax Code in Georgia  

 
The Georgian Tax Code provides a regulatory framework on the taxation system applicable on the country’s national territory. It describes the types of taxes available in Georgia (applicable at a national and regional level) imposed to both natural persons and legal entities. Our team of attorneys in Georgia can provide advice on the provisions related to the taxation of companies. 
 
Foreign investors interested in opening a business in Georgia should know that businesses registered here will be imposed with the following taxes, depending on the legal entity of the company (for example, sole traders are liable to personal income tax, as they can’t be imposed with the corporate tax) and its main activities: personal income tax, corporate income tax, value added tax (VAT), excise tax and the import tax. 
 
According to the Article 6.5 of the Tax Code, the above mentioned taxes are applicable at a national level. Georgia also imposes the property tax at a regional level. Our lawyers in Georgia can offer advice on the taxation system available here. 
 

Other rules of law in Georgia  

 
Commercial activities are also regulated by the Law on Entrepreneurs, as well as the Law on Insolvency. Foreigners who want to start the procedure of company registration in Georgia will need to follow the regulations of the Company Law. We invite businessmen to contact our lawyers in Georgia for more information on the commercial legislation