How Diversification In Georgia Country can be great for you?
Diversification In Georgia Country: A New World Is RisingThese deep trends we are confronting in this post-covid and running Ukrainian war will reshape how we do Business and show the possibility of finding new resources more efficiently in other regions by internationalizing our activities. We can already see that many companies are taking corrective and proactive measures to restructure their business models. They are adapting their marketing strategy and redefining relationships with their business partners or customers. We are already seeing new companies looking for diversification in Georgia country, and setting up a part of their activity in this low-cost country to reduce long-term fixed costs by outsourcing or introducing temporary staff. They are also preparing to change the employment relationship through flexible and remote methods. Business diversification In Georgia Country become a deep trend for hundreds of foreign companies who want to diversify Business in Georgia.
What’s Going On In The EU?During this unprecedented crisis, large countries and other major organizations such as the European Union have and are still mobilizing, through huge stimulus packages, a massive amount of money to preserve their economic systems’ viability, support companies, and save jobs. They have no choice but to avoid a complete collapse, even if it significantly worsens their budget deficit. Today, it is highly likely that these countries, faced with the abyssal deficit and inflation, will be tempted to increase the tax burden to compensate for the outstanding public debt incurred. It will be necessary to seek this money elsewhere by tightening the current rules or creating new taxes to cover these forced expenditures. On the contrary, some countries, often smaller, are sometimes better placed to respond to these new post-Covid and post-war challenges. With greater flexibility, allowing them to make decisions more quickly, they have promptly put programs that value entrepreneurship and provide strong entrepreneurs incentives. As Georgia did. A business diversification in Georgia Country become a very interesting jurisdiction in this regard.
Diversifying Business In Georgia Country To Secure Your Business Model.Having identified the various bottlenecks in this new global context, we realize that getting a plan B is increasingly important and taking advantage of incentive programs implemented elsewhere. Suppose you think about starting a diversification internationally for a long time ; In that case, the coming years, post-covid and post-war, may be the ideal time to rethink your company’s structure in the long term and initiate an organizational modernization of your professional or personal life to make it more efficient and profitable. Diversification would be the keyword that should be engraved in our minds in the coming years.
Diversification In Georgia Country : Georgia Has A Lot To Offer In This Regard.The jurisdiction is attractive as an economic base to diversify and optimize all or part of your Business, invest or live six months of the year and become/obtain a tax resident that gives you protection and peace of mind. Whether you are an internationally oriented company or a locally produced but internationally oriented company, Georgia offers undeniable benefits that can lead you to consider a partial restructuring of your Business and bring you more efficiency, profitability, and comfort. To take advantage of the many benefits of an international presence and the use of resources abroad, it becomes necessary to do so transparently. Respecting international rules: Provided that you structure your activities correctly according to the OECD’s rules and regulations or your country of residence. Then you can take full advantage of what this new world offers.
Which Benefits For A Business Diversification In Georgia Country?Territorial taxation, two special statuses for IT businesses, and an incredible individual entrepreneur status to optimize your income.
- Georgia has a territorial tax regime. It means that Georgia does not tax active or passive income earned abroad, i.e., outside Georgia’s territory.
- This country is one of the least taxed countries in the world.
- Georgia has implemented a special status for sole proprietorships and self-employed individuals. Up to 500,000 GELin turnover, you will be taxed at 1% on your gross turnover. And only 3% for a higher one. You don’t have to live in Georgia to benefit from this status.
- There are two special statuses for IT entrepreneurs.
- A Virtual Zone Statusallows you to benefit from 0% corporate income tax, 0% VAT, and 5% on dividends.
- A new International Company Statusallows you to benefit from only 5% on corporate income tax, 5% on the local payroll tax, and 0% on dividends.
- Georgia benefits from low labor costs and low costs of living.
Georgia Can Be An Excellent Solution For Reorganizing And Restructuring Your PortfolioWith the economic recovery delayed for many or looming on the horizon for optimistic entrepreneurs like us, we must ask ourselves about the lasting impact of this experience, as unprecedented as it is intense, which has the effect of considerably broadening the limits of our thinking. The lessons learned from these new experiences will enrich how we see and manage our activities and structure our company to better secure them tomorrow. Not putting all our eggs in the same basket and thinking about remote management of our entire Business or parts of it could be an exciting solution. Perhaps it’s time to take advantage of this moment and discover Georgia’s various assets, proximity to Europe, the advantages of its territorial taxation, and its resolutely Western way of life. Perhaps you will fall under the spell of its many benefits, allowing you to dissipate the clouds and see the sun again. Georgia offers competitive advantages, alternative bank accounts, quick company formation, affordable back-office for your Business, and significant benefits of being a tax resident here. Business Diversification in Georgia Country makes sens. Feel free to contact us and consult us to receive our expertise to plan, adjust, and structure a reorientation of your Business and your situation based on this promising jurisdiction. Please, don’t hesitate to contact us for a free 30 minutes consultation.
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