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Benefits of Free Trade Zone in Gerogia


According to tax code of Georgia free zone is a place, where the business-friendly regulations and favorable tax and customs system apply. Any legal and natural person, resident or foreigner, is allowed to register a company in Georgia. Therefore, the free zones in Georgia are very popular from the investments perspective.


Benefits by having registered company in Free Trade Zone

  • Payment can be carried out in any currency;
  • Tax Incentives;
  • Simplified proceedings;
  • Exemption from the license/permit requirement as well as facilitation of obtaining such license/permits;
  • Authorities of local self-governing bodies (City Halls, Municipalities, etc.) do not cover free trade zone territories;
  • As the law does not provide for the maximum or minimum time limit for operation of the free trade zone, it is left up to the option of establisher;
  • The free trade zone shall have entrance and exit as well as customs checkpoints located therein.

 

You are not paying

  • Corporate tax – 15 percent of the taxable profit base;
  • Property tax – one percent of the average book value of property;
  • Import tax – up to 18 percent of import value;
  • VAT – 18 percent;
  • Dividend tax – five percent;
  • Limited accountancy related to employees’ salary

In general, businesses will enjoy reliable infrastructure, low rental prices, easy company set-up, low costs of utilities and communications, and many other advantages

 

Taxation within free industrial zones

  1. Issues related to taxation within a free industrial zone shall be regulated by the Tax Code of Georgia.
  2. Profit gained by a free industrial zone enterprise within the free industrial zone shall be exempt from profit tax under the Tax Code of Georgia, except as provided for by the above Code.
  3. Bringing foreign goods in a free industrial zone shall be exempt from value added tax.
  4. Transactions within a free industrial zone shall be exempt from value added tax.
  5. Property within a free industrial zone shall be exempt from property tax.
  6. Bringing foreign goods in a free industrial zone shall be exempt from import tax.
  7. Bringing (importing) goods produced within a free industrial zone from the free industrial zone in other territory of Georgia (outside the free industrial zone) shall be exempt from import tax.
  8. Employees within a free industrial zone shall pay income tax based on income declaration.)

 

 

Need more information or start a company in Free Trede Zone? Call us (+995) 558 800 007 or send an email to info@freetradezone.ge.