What is your experience with Georgia?

[avalanche]

Does that really mean that Free Zone and accountants can give us a greenlight on‍ the services we offer to **non residents of Georgia**, we might pay for everything $5k⁠ (in case of Tbillisi Free Zone) and go thru hassle of setting up foreign bank⁤ accounts. Then Georgian government kicks in and makes us pay 15% for income we are⁣ generating from abroad? stupi#21

Our services are online education and HR recruitment of foreign individuals for⁢ foreign clients.

 

[avalanche]

And there is also no person in the⁢ world who can give us concrete answer whether our activity is allowed to be under︀ TFZ non-taxable regime or not?

 

[Martin Everson]

Avoid that crypto company (BitFury) owned freezone i.e TFZ. Your just their⁠ side business ca#"!.

 

[avalanche]

I heard TFZ is the best of the free‍ zones from the lawyer idk. Also what could possibly happen? I just buy license and⁠ get 0% tax, seems simple.

 

[JohnLocke]

Does someone knows about a reliable lawyer that is able to help with answers to‌ the TFZ ?

 

[avalanche]

I just figured about free zone by‍ the way:
Georgian law is very vague when it comes to Free Zone. I spoke⁠ with a person who was designing the law for free zones. Originally law was designed⁤ to be further extended in a positive (for the business) way but the outcome today⁣ is..

They have two different camps in the government:
A) Free Zone companies are only allowed to sell physical goods tax free.
B) Free Zone companies are allowed to sell⁢ anything including services tax free.

Basically you are not entirely protected by the law if︀ you are selling services as a free zone company. Theoretically government could make you pay︁ normal taxes although it would surely spook business (which is not in their interest). There︂ was no precedent like that in the past but I would excercise caution when doing︃ business in Free Zone. Just keep that in mind.

 

[lrotter]

Hello All!
Did anyone succeed with opening a bank account in Europe for Georgian LLC?‌
As for now only CIM banquet answers positively to this case. Could you please share‍ your expertise regarding this?
thanks!

 

[dissidentcitizen]

TransferWise should work for a⁠ Georgian LLC. Indeed some lawyers I talked to from Tbilisi recommend it for a LLC⁤ owned by a foreign citizen.

 

[JohnLocke]

I can confirm it works fine to open a TW account for a Georgia company.⁠

 

[ontherun]

I don't think there is anything wrong with money laundering.

 

[Spinat]

Okay, I'm still here, but go after what you read around‍ and the books and you will never find anything useful.

 

[ontherun]

And I think this‍ forum is more for the free spirited type of people anyway. The ones who like⁠ to play in the shadows...

 

[JohnLocke]

Well, we are all free to have our own opinions and do what we think is‍ best for youself!