Business Registration in Georgia: IE and LLC Registration Now Available Through Banks

Georgia has simplified its business registration process: it is no longer necessary to visit the House of Justice to register as an individual entrepreneur (IE) or establish a limited liability company (LLC). Registration documents can now be submitted at branches of TBC Bank and Bank of Georgia.

Registration fees:

• GEL 200 for LLC registration within one business day; and
• GEL 26 for IE registration.

The registration fee can be paid via mobile banking or at a bank branch.

A passport or ID card is required to initiate the registration process.

To register, you will need to:

1. Complete the required documents, providing details of the company’s director and owners, management structure, share capital (where applicable), and other relevant information.
2. Submit your own articles of association or opt for the standard articles of association approved by the Ministry of Justice.

Another advantage is that, immediately following registration, you can submit an application to the bank to open a business account.

This means that business registration and the application for banking services can now be handled in virtually the same place, without the need for a separate visit to the House of Justice.

The new procedure reduces the number of separate visits required and brings together two key steps in setting up a business — registration and arranging banking services. This is particularly convenient for entrepreneurs who plan to register their business and arrange banking services at the same time.

Planning to set up a business in Georgia?

REVERA can assist you throughout the registration process, helping you choose the appropriate legal form, prepare the required documents, register your IE or LLC, and navigate the subsequent process of opening a business bank account.

Not sure whether an IE or LLC is right for you? REVERA can help you determine the most appropriate structure based on your business model and objectives.

Contact us to discuss setting up your business in Georgia.