Georgia (country) individual enterpenuer 1-3% tax: what are the disadvanteges?

[golang]

Hi,
Are there any disadvantages in the plan of becoming legal resident in Georgia and forming individual enterpenuer with low tax status in order to lower tax rate for a period of 2 years that might be missed when only reading about it online?
i like some areas in Tbilisi and will gladly stay there long term.

1% up to 500,000 lari.
3% for anything more than 500,000 lari
Accounting / reporting seems pretty straight forward with minimum hassle.
I'm a successful affiliate marketer + crypto trader.
150-300k$ per year net income.

Thanks

 

[Martin Everson]

Can you get access to the banking and everything you need with Georgia address? Check that first.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[golang]

Martin Everson said:
Can you get access to the banking and everything you need with Georgia address? Check that first.
Click to expand...

Yep
Including additional bank account in Grorgia

 

[Martin Everson]

Then you will be fine. I have talked about myself living there in other threads and I liked it.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.