28.11.2022
Reading time: 2 minutes
Author: Sea Inside

HOW TO OPEN A SP individual entrepreneur IN GEORGIA

Where and for how much can I get an individual entrepreneur in Georgia and what nuances should be taken into account? Lay out on shelves.

According to the Ministry of Justice, in the six months of 2022 (March-August), citizens of the Russian Federation registered more than 9,000 companies in Georgia. The main part (about 7 thousand) is registered as an individual entrepreneur (IE).

These numbers are easy to explain. Over the past ten years, major reforms have been carried out here. The previously existing 21 taxes were reduced to nine. Simplified taxation has yielded results.

The country's economy is booming today. Hundreds of companies open every day. Foreigners actively invest in Sakartvelo. In the 2020 Doing Business ranking for ease of doing business by the World Bank, Georgia ranks 7th. There is no bureaucracy here, taxation is simplified and benefits are established for certain industries (for example, for the IT industry).

How to register an individual entrepreneur in Georgia

How to open an IE in Batumi, Tbilisi or other cities? Anyone can get the status of "individual entrepreneur" in Georgia - both a citizen of the country and a foreigner. All are subject to the same procedure.

To apply for an IE, you need to contact any branch of the House of Justice - in total, there are about 30 branches in 20 cities across the country. What documents are needed for an individual entrepreneur in Georgia? It sounds incredible, but all you need is an ID. In addition to it, you should pay the state duty for registering an individual entrepreneur. Provide the receipt of payment along with your passport to the operator - he will accept the documents and help fill out the application.

How much does it cost to open a sole proprietorship in Georgia?
The standard fee is 20 lari (about $7). In this case, confirmation will come the next day. You can pay for the accelerated option and get the status on the same day - it will cost 50 lari ($17).

Nuances
Despite the ease, there are some nuances that should be considered. For example, what address should be indicated when registering - registration or residence? Individual or legal? Is it possible to indicate the address of a third party other than the residence of an individual entrepreneur? Is it possible to issue an IE by proxy or do I need to physically visit the House of Justice myself? How is the contract concluded in this case?

If you want to transfer a business or start your own business in Georgia, but do not have the time and opportunity to apply for an IP in Georgia on your own, contact Sea Inside. As part of the “Business Startup Services” program, we help open a turnkey business (LLC, sole proprietorship and other types), suggest how to manage documents and accompany the entire registration process from the first step to the last.
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