Countries / Georgia
Georgia (Georgian: საქართველო) is a country in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the south by Turkey and Armenia, and to the southeast by Azerbaijan.
Since the early 21st century visible positive developments have been observed in the economy of Georgia. In 2007, Georgia's real GDP growth rate reached 12 percent, making Georgia one of the fastest-growing economies in Eastern Europe. The World Bank dubbed Georgia "the number one economic reformer in the world" because it has in one year improved from rank 112th to 18th in terms of ease of doing business. Georgia improved its position to 6th in World Bank's Doing Business report 2019.
- Strength is in Unity (ძალა ერთობაშია!)
Cost of Life
Residency Programs (4)
Business Owner/Employee Residence Permit EmploymentTemporary residencyno investment requirement12,000 GEL / year (3,791 USD / year)
Investor Residence Permit InvestmentPermanent residency300,000 USD120,000 USD / year
Real Estate Permanent Residence Permit Real EstatePermanent residency300,000 USDno revenue requirement
Real Estate Short Term Residence Permit Real EstateTemporary residency100,000 USDno revenue requirement
Countries with a territorial taxation system only levy income tax from local income. Foreign income usually won't be taxed by that country.
Personal Income Tax (PIT) on local revenue
Flat tax of 20%.
- Georgian income, if resident
Special tax regimes
- Individuals with annual turnover of less than 30,000 GEL (9,479 USD), no employees, and who register as a micro business will be exempt from tax on their business income.
- Individual entrepreneurs with annual turnover of less than 500,000 GEL (157,978 USD) may register as a small business and pay 1% tax on their turnover. The rate increases to 3% if annual turnover will exceed 500,000 GEL (157,978 USD).
- rental income of an individual will be taxed at 5%
Local Dividend Tax
Flat tax of 5%.
- Georgian dividends, if resident or non-resident
Non-resident earning dividend from Georgian sources, are subject to a base WHT of 5%. That rate can amended by a DTA (see list DTA documents below).
- Foreign income, if resident
- Foreign dividends, if resident
Rates Year of Assessment