Georgia: the gateway to a successful business – Offshore
Georgia is a country located in the Caucasus region of Eurasia, at the crossroads of Eastern Europe and Western Asia. It is a semi-presidential republic with a Unitary State.
His government is elected through a representative democracy and its capital is Tbilisi. The official languages are Georgian and Abkhazian.
Currently, Georgia is a member of the United Nations, the Council of Europe and the GUAM Organization for Democracy and Economic Development.
As far as history is concerned
The United Kingdom of Georgia reached its Golden Age during the 12th century and the beginning of the 13th century, but was disintegrated under the hegemony of regional powers, including the Mongols, the Ottoman Empire and the successive dynasties of Iran.
In the course of the nineteenth century, the territory of Georgia was absorbed by the Russian Empire, later, Georgia became part of the Transcaucasian Federation. In 1922 it was one of the founding republics of the Soviet Union until the pro-independence movement led it to secession in 1991. From 2003 onwards, Georgia has firmly followed a pro-Western foreign policy, guided by NATO and European Integration, as well as has introduced democratic and economic reforms that have strengthened State institutions.
Fastest growing economy
It is said that Georgia’s economy is the fastest growing in the Eastern European region. Fiscal policies in this region were formulated in order to support the rapid development of business, reduce unemployment and substantially boost the country’s economy.
In Georgia, the corporate tax does not apply if it is reinvested, however, a 20% tax is applied if the profits are withdrawn. The designated Free Zones offer a tax exemption on income, imports, property and even VAT. The income from outside Georgia is not monitored.
The exemption of customs duties or VAT on the importation of raw materials for export can only be obtained with the help of a license of the Customs Internal Processing Regime.
It is said that Georgia’s economy is the fastest growing in the Eastern European region.