Georgia has for a long time been labeled as one of the finest business destinations in Europe as well as in the world. Situated between Europe, Asia, and the Middle East, Georgia has grown that standing as perhaps the easiest places in the world to conduct business, apart from low taxes and operation costs.
The country boasts a highly educated and skilled workforce, plus a generous government support including but not limited to incentives for automotive and electrical manufacturing, and more. Georgia has free trade agreements with the European Union, China, Turkey, UK, CIS and several other countries, giving it tariff-free access to markets with 2.3 billion population.
Georgia is connected to global business sectors through three international airports, two ports and broad road and rail networks, which goes the whole way to China (part of Belt and Road drive). Furthermore, Georgia flaunts the world’s third least over all duty burdan, including a %0 charge rate on retained and reinvested profit.
Georgia’s Foreign Direct Investment (FDI) Grant offers cashback motivations for organizations setting up business in the country. With an emphasis on gadgets, airplane, and vehicle manufacturing, FDI grants are also accessible for warehousing and strategies focuses and business process reevaluating offices. Different kinds of motivating forces, even free land to be considered are available.
With such an incredible reasons, enormous enterprises including AIONRISE, Group Atlantic, and Aero-Structure Technologies Cyclone have decided to lay out assembling offices in the country. Georgia is broadly respected for its smoothed out, and proficient regulatory practices.
As per the World Bank, Georgia is ranked seventh in world for ease of doing business. The government’s Public Service Hall offers 400 services that enable people to apply for everything from a passport to registering a business or property in less than a day. This all in one resource avoids bureaucracy, simplifies all paper works needed to set up a business, compared with other countries.
Utility rates in Georgia are some of the lowest in the region, with electricity fees at 8¢ per kWh, natural gas at 23¢ per c/m, and water at 7.5¢ per c/m. Not only is the electricity cheap, more than 70% of it is generative via renewable sources. Additionally, import duties on most of raw materials and equipment are 0%.
Also, the country has an educated, competitively priced workforce. With no minimum wage regulations and business-friendly labour laws, the average monthly salary for an unskilled production operative is $227, skilled operatives earn $435 a month, and engineers earn $1,061.
With in excess of 5,000 students enrolled in bachelor, master, and professional programs for the engineering, manufacturing, and construction sectors, some 2,300 new graduates join the workforce every year.
Simplified tax rules and rates in Georgia are very attractive compared to other developed countries. They give businesses much more flexibility in operations and financial management.
The customs policy of Georgia, also exempts most of the raw materials, products and equipment from customs duties. This policy has the advantage of achieving competitive production costs for our solar panels and, in turn, makes it possible to compete in pricing in international markets.
Other than the appropriate business environment that the country has to offer, it also offers pleasant conditions for living, with a world class culture. The fame of Georgian people’s hospitality and delicious cuisine precedes the country’s name around the world.
In Georgia, it’s possible to ski in the Caucasus Mountains, swim in the Black Sea, and take part in the capital Tbilisi’s restaurant culture and nightlife – often in the same day.
Georgia is also spotted with archaic palaces, 1,000-year-old religious communities, and fresher architecture that joins European and Asian impacts. Social activities range from football, basketball, and rugby – the national sport – to theatre, live music and dancing, and art galleries.