Suppose you wish to run a business where you are the sole proprietor. In that case, the Individual Entrepreneur with Small Business Status in Georgia gives you huge tax benefits.
The Small Business Status (SBS) is a highly beneficial tax status designed for Individual Entrepreneurs (IE) registered in Georgia. The IE granted with the Small Business Status pays a 1% tax on turnover up to an annual threshold of approx—180 000 € (500 000 GEL).
Happy Georgia can assist with your IE registration and SBS registration. Our Individual Entrepreneur business registration service will set up your Georgian legal entity quickly and professionally to complete your business registration.
Key Benefits of Georgian Individual Entrepreneurs with Small Business Status
1% tax on gross turnover. No other personal or corporate income tax to pay in Georgia. If you get SBS status, you will pay only 1% income tax. The SBS status saves you huge taxes (instead of 20%).
0% VAT on most foreign services. Suppose your clients are based outside Georgia. In that case, all B2B client services are tax-exempt. B2C is also exempt if rendered electronically/online.
Legal residency is not needed. You do not need to be a legal resident or citizen of Georgia. You should be (or become) a tax resident, though.