About company registration
How long does it take to register a company in Georgia?
Company can be registered within one or two days. This period excludes the time required for the preparation of registration documents.
May the company founder be the director of the company at the same time?
There is no restriction about this in Georgia and the company’s adult founder can be the Director at the same time.
What amount is determined for the authorized capital of limited liability company?
The minimum and maximum amount of authorized capital in a limited liability company is not defined by the legislation of Georgia and it may be one Gel, even less than one Dollar. In addition, the date for the contribution of the authorized capital as provided for by the Charter is not important for the company registration.
May the legal entity registered in the foreign country be the founder of a company in Georgia?
The founders of the company may be both natural persons and legal entities registered in Georgia as well as any other country.
How many directors may the company have?
The number of directors is not limited by law. If the number of directors is more than one, then the issues of representative and executive authority should be determined in the company’s foundation documents.
What documents are necessary to register a joint-stock company or limited liability company in Georgia?
The list of documents required to register the company in Georgia depends on the number of founders and directors, their organizational-legal form, their registration country and so on. Therefore, it should be determinedfor each individual case.
What legal forms of entrepreneur legal entity are known for the legislation?
- Limited Liability Company – Ltd.
- General Partnership – GP
- Limited Partnership – LP;
- Joint Stock Company – JSC;
- Cooperative.
What is the difference between the mentioned legal forms?
The main difference is caused by the partner’s property liability. In particular, the shareholders of the joint stock company, cooperative and founders of LLC are not responsible for the company’s activities with their personal property, while the founding partners of General Partnership are responsible with their entire property, the part of partners of Limited Partnership – limited partners (komandits) will bear no responsibility for the company’s activities, while the general partners (komplementars) are fully responsible for the company’s liabilities.
About real estate
How can we buy a real estate in Georgia?
For granting the property rights on real estate, it is necessary to register it in Public Registry. For this, it is necessary to submit:
- Application (electronic application is filled by the documents receiving operator);
- Your identity document;
- Properly drafted agreement;
Sometimes, additional documents or information may be requested, that is necessary for the registration of real estate.
Is it possible for foreign individuals or foreign legal entities to purchase a real estate in Georgia and what documents are needed?
Both foreign individuals and foreign legal entities can freely purchase the real estate for commercial or residential purposes. The list of documents for each concrete case is different and they should be prepared individually.