[Armenia] What is the best way to open a company remotely and register bank account?

[bullhorn offshore]

marzio said:
Not really Why Some Freelancers DON'T Qualify For The 1% Tax Rate - Georgia (Country)
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Taxation for freelancers depends on several factors:
1) Type of activity (not all types of activity fall under the concept of "small business")
2) Income received from which country? (from Georgia or because of
3) income from an individual or legal entity.
4) How much is earned per month, quarter, year, previous year
5) the type of income matters. (dividends, provision of services, sale of goods)
6) VAT (depends on the fourth point above).

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The truth is that almost any business can be "packed and packaged" so it will fit at a rate of 1-3%

backpacker said:
No! ban-:;
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as you wish. I don't want to argue with you.

 

[Marzio]

@bullhorn offshore if a freelancer receives income from one client only it's very likely that RS could argue that they are acting as employee of that client.

BTW i tend to agree with you that Georgia would be better than Armenia for an IT company

 

[bullhorn offshore]

marzio said:
@bullhorn offshore if a freelancer receives income from one client only it's very likely that RS could argue that they are acting as employee of that client.

BTW i tend to agree with you that Georgia would be better than Armenia for an IT company
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Fully agree with your statement. If a self-employed person has income from only one Georgian company, this is recognized as an employee. There are several logical ways out of this situation. Receive rare orders from a foreign source for example.
If I write here all the "pitfalls", then this will turn into a discussion of the legislative framework for taxation of the Georgian Republic.
This is already paid history.

 

[Marzio]

Are you a Georgian consultant?

 

[bullhorn offshore]

marzio said:
Are you a Georgian consultant?
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To state that I am related to consulting in Georgia will be false on my part. I organized for myself a business structure in Georgia with a connection with the UAE and England and transferred my employees to the legal field of individual entrepreneurs in Georgia Rep. I am engaged in financial consulting to support large transactions (escrow most often).
I can recommend professionals in Georgia if you need it.

 

[Marzio]

So you relocated your employes to Georgia or the team was already in Georgia but you switched them from employee to individual entrepreneurs?

bullhorn offshore said:
I can recommend professionals in Georgia if you need it.
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Well, here we all know ExpatHub but i'm sure that there are others so please share your experience.

 

[bullhorn offshore]

marzio said:
so please share your experience.
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Initially, I had a company only in England. Employees paid taxes in their countries.
Then he registered them as a "small business" in Georgia. Now I pay them under a contract for the provision of services from England to Georgia. They don't pay VAT. I organized a company in the UAE and now my employees receive part of their income from England and partly from the UAE, they also do not pay BAT. It must be remembered that one individual entrepreneur cannot earn more than 500,000 GEL per year. (180,000 euros).
Of the expenses, you definitely need a local accountant who will submit monthly reports (everything must be submitted in Georgian). One accountant copes well with my 16 employees. Georgia has a free economic zone for IT companies with zero tax. My business is not related to IT development, so this does not apply to me.
However, I met many businesses that moved from Europe to Georgia just for this. When I was choosing where to "register" employees, I thought between Georgia, Albania and the UAE. The first one turned out to be the most optimal in my conditions.

 

[Marzio]

I wonder how easy it is to find proficient english speaking employee in Georgia. Is English widely spoken there?

 

[bullhorn offshore]

marzio said:
Интересно, как легко найти в Грузии сотрудника со знанием английского языка. Широко ли там говорят по-английски?
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Do you mean accountant?
Yes, among Accountants, Lawyers, many know English. English is the second most popular language after Georgian I think.
Employees of my company are not citizens of Georgia. In more detail on this issue, I would not like to write here.