Georgia's Balcony to Europe, of course, offers even more than finance and banking licenses.
Georgian საქართველო, after the Russian name Грузия (Grusija) earlier sometimes called Grusia or Gruzinia, is a Eurasian country on the border between Europe and Asia in Transcaucasia, east of the Black located sea and south of the Greater Caucasus. In the north it is from Russia, bounded on the south by Turkey and Armenia, in the east of Azerbaijan. The parts of the country Abkhazia and South Ossetia have defected and are recognized only by Russia and some other states as sovereign.
With about 3.7 million inhabitants (2015) on an area of 57,215 square kilometers (without the breakaway parts of the country) Georgia is rather sparsely populated. More than a quarter of the population lives in the capital region to Tbilisi, other major cities are Kutaisi, Batumi and Rustavi.
Georgia is located in the Middle East, but is referred to by its inhabitants as the Balcony of Europe. Its area corresponds with 69,700 square kilometers approximately of Bavaria.
Economy and Finance
The Georgian economy is very well integrated on the bridge between Europe and Asia in the international markets. Because of the DCFTA with the EU, Georgia has direct access to nearly a billion market.
The ongoing reforms of the last decade have led to significant improvements in the tax and customs administration, government revenues increased, reducing the gray economy and reduce corruption.
Georgia is an attractive destination for foreign direct investment in the region and has well-trained workforce at very competitive wage rates, low tax rates, simplified border crossing procedures and preferred trading arrangements with key partners.
Since foreign investors to enter the banking sector and the Georgian banks use the international capital markets, the private banking sector is growing fast.
Consistent macroeconomic policies and effective measures to combat corruption increased the confidence of both the corporate sector and consumers. Simplified procedures of company registration, reforms in the customs administration and border police, as well as more business-friendly tax and labor regulations all contributed to improving the business environment.
The World Bank's Doing Business Report 2015, according to Georgia is ranked 15 of the ease of doing business, while the Heritage Foundation Georgia filed at number 22 of the freiesten economies in the world. In addition, Georgia took the 48th place among 168 countries published by Transparency International Corruption Perceptions Index (CPI) in 2015, which it is in the post-Soviet region (except the Baltic states) in the fight against corruption at the top.
Georgia is a stable BB by Standard & Poor's and Fitch Ratings and Ba3 by Moody's Positive rating. (source: wikipedia)
Georgia has earned its reputation as an outstanding trade center with an innovative, dynamic and entrepreneurial business culture. Georgia is strategically located at the crossroads of trade and commerce between East and West and is ideally positioned to access markets in Asia and the Middle East as well as Europe and the CIS countries. It also allows Georgia with its time zone, equally convenient access to the markets of the Far East and the Western Hemisphere. To take advantage of this and to meet the growing international demand, the country is developing a communications infrastructure of world class.
With a functioning democracy politically stable, Georgia has a forward-looking, responsive government with a progressive, aimed at the business attitude and a strong commitment to the private sector. Business-friendly regulations, favorable tax and customs framework have played a major role in that business investments from around the world are grown in almost every economic sector of the country. Strong economic indicators and a relatively good work environment have contributed to its rapid development and prosperity. Georgia is a modern, safe, multicultural city with state of the art medical, educational, entertainment, shopping and sports facilities that ensure a high quality of life.
KEY BENEFITS - Strategic location
The geographical location of the country ensures easy access to the growing economies of the CIS countries as well as to markets in Europe and the Middle East.
Preferred trade rules
A deep and comprehensive free trade agreement with the EU, a free trade agreement with the CIS countries and Turkey, and the preferred preferential arrangements with the US, Canada, Japan, Norway and Switzerland provide access to a nearly 1 billion big market without customs.
The sophisticated and dynamic transport and communication network makes Georgia internationally well connected by land, sea and air.
Availability of skilled labor at competitive wages, combined with a flexible labor code and lack of social control.
Few controlling at lower rates, including flat tax rates for personal income (20%) and company profits (15%) to make the most attractive Georgia control system in the region.
Taxation in the by us or our clients preferred free zones of Georgia, amounted to 0.0%!
Strict anti-corruption measures have the tax and customs administration, as well as greatly improved government revenues increased, driven back the shadow economy in Georgia and corruption in the public and private sector, as measured by the international ratings, significantly reduced.
Simplified licensing procedures
The total number of required licenses and permits in Georgia has been reduced by 84% and the statutory deadlines for responding to requests by the government were imposed.
Stable banking sector
The fully private banking sector is growing rapidly as foreign investors to enter the sector and Georgian banks into international capital markets.
Fast growing privatization policy
The privatization of state-owned properties increased investment and improved competitiveness of Georgia. Investors may initiate an accelerated, competitive process to privatize needed for an investment project assets.
Automatic exchange of information
Georgia is one of the very few countries that does not participate in the Automatic Information Exchange (AIA).