Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Why Foreign Entrepreneurs Should Start a Business in Georgia
In recent years, Georgia has emerged as a prime destination for foreign entrepreneurs looking to establish their businesses. This small country, nestled at the crossroads of Europe and Asia, offers a unique blend of favourable policies, strategic advantages, and a vibrant cultural environment. If you’re considering expanding your entrepreneurial ventures, here’s why you should start a business in Georgia.
1. Business-Friendly Environment
One of the standout features of Georgia is its remarkably business-friendly atmosphere. The country ranks highly on the World Bank’s Ease of Doing Business Index, thanks to government reforms aimed at simplifying business registration and reducing bureaucratic red tape. Entrepreneurs can set up a business quickly and efficiently, allowing you to focus on growth rather than navigating complex regulations.
2. Attractive Tax Incentives
When you start a business in Georgia, you’ll benefit from one of the most favourable tax regimes in the region. The corporate tax rate is set between 0%-20%, and in certain Free Industrial Zones, businesses enjoy a zero percent corporate tax on reinvested profits. This favourable tax structure makes Georgia an appealing choice for entrepreneurs looking to maximise their profits.
3. E-Residency Program
Georgia’s innovative e-residency program allows entrepreneurs from around the world to register and manage their businesses online. This unique initiative enables you to operate your business remotely, offering flexibility and convenience. Whether you’re a digital nomad or simply prefer the freedom to work from anywhere, e-residency makes it easier than ever to start a business in Georgia.
4. Low Cost of Living
Starting a business often involves significant expenses, but Georgia offers an affordable cost of living compared to many Western countries. This affordability extends to housing, food, and transportation, allowing entrepreneurs to stretch their budgets further. With lower overhead costs, you can reinvest more in your business, enhancing your chances for success.
5. Strategic Location
Georgia’s geographical position makes it a strategic gateway to both European and Asian markets. With access to major trade routes and free trade agreements with several countries, Georgia provides excellent opportunities for entrepreneurs to expand their reach. This strategic advantage is particularly valuable for businesses looking to tap into diverse markets.
6. Vibrant Startup Ecosystem
The capital city, Tbilisi, is home to a burgeoning startup ecosystem that is fostering innovation and collaboration among entrepreneurs. With numerous incubators, accelerators, and co-working spaces, you’ll find ample opportunities to network, share ideas, and gain support from fellow business owners. This vibrant community is an excellent resource for new entrepreneurs seeking mentorship and guidance.
7. Rich Cultural Heritage
Georgia is known for its rich history, diverse culture, and warm hospitality. The country’s unique blend of Eastern and Western influences creates an inspiring environment for creativity and innovation. By choosing to start a business in Georgia, you not only gain a strategic location and favoUrable policies but also immerse yourself in a culturally rich experience that can enhance your entrepreneurial journey.
Starting a business in Georgia presents a unique opportunity for foreign entrepreneurs. With its business-friendly environment, attractive tax incentives, low cost of living, and strategic location, Georgia is an ideal choice for those looking to expand their ventures. The vibrant startup ecosystem, coupled with rich cultural experiences and supportive government initiatives, makes Georgia a prime destination for entrepreneurial growth.
If you’re ready to embark on your entrepreneurial journey, consider Georgia as your next business destination. With its numerous advantages, your venture is set to flourish in this dynamic country.
About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business. I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses.