The underlying legal code in Georgia is civil law law. You will want to get some local advice as to how to best structure a company in Georgia. E-signatures are allowed.
The country code GE is for Georgia and the most common legal entity type in Georgia is a LLC.
The time to setup is usually 4 weeks to incorporate a LLC in GE. is 0, This means you don't have any minimum share capital. The types of consideration you can use to setup your company is frequently GEL and Any legal currency.
Yes, one is allowed to re-domicile a LLC from GE. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in GE by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is encouraged, up to 100% of the total equity of the company.
A LLC is only required to have one director. Additionally, corporate directors are permitted. Directors should not expect to be private, as they are disclosed. There is a requirement to have annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for a professional firm which can receive any official legal correspondance on behalf of the business. Furthermore, a company secretary is not a requirement.
There is a requirement to file accounts to relevant authorities. Furthermore, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Georgia, Georgia Gov. Shareholders are disclosed in the Georgia Gov.
Typically companies take 4 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Georgia is a bad option and have given it a score of 32 as an IO score, using the Incorporations.IO proprietary formula.
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