17 shipping and IT companies have the status of international companies in Georgia

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There are 17 shipping and IT companies in Georgia that have obtained international company status, which means they can enjoy favorable tax conditions in the country, the Georgia Ministry of Economy announces.

Fourteen of the 17 companies are involved in the IT sector, while the other three companies are maritime service providers.

To obtain the status of international company, it is necessary that the company is registered in Georgia and has at least two years of professional experience in the country.

Summary of tax benefits:

  • Low profit tax of 5% (corporate income tax – normally 15% in Georgia). The tax is levied at the time of distribution only. Reinvested profits are not taxed
  • 0% tax on dividends (instead of 5%)
  • 5% employee income tax withholding (reduced from 20%) plus standard pension contributions of 2% + 2% for employees who are legal residents of Georgia
  • 0% property tax (excluding land) on the property if this property is intended or used to carry out the authorized activities of the international company

Who can apply?

  • The candidate company must have at least two years of experience in the authorized activity
  • This may be a representative of a nonresident company in Georgia, if that nonresident company has at least two years of experience in the licensed activity
  • It may have one or more partner company(ies) with more than 50% of shares and this (these) partner(s) has at least two years of experience in the authorized activity

This program aims to attract foreign IT and maritime companies to establish their operations in Georgia.

The program was launched in October 2020.

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