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GEORGIA LEGISLATION
Georgia has very flexible and comprehensive legislation that fosters a business-friendly environment and helps maintain a healthy investment climate. The operations of the Free Industrial Zone (FIZ) are regulated by the Georgia Law on Free Industrial Zones, which aims to promote economic growth, improve industrial competitiveness and attract foreign direct investment. The Free Industrial Zone is designed to create a fiscal, legal and administrative environment so that tenant companies can compete successfully in global markets.
GEORGIA FREE INDUSTRIAL AREAS
- Tax incentives
- Simplified procedures
- Payments can be made in any currency.
- Exemption of most licenses.
- Permits Autonomy of local autonomous government agencies.
GENERAL DESCRIPTION
The HUALING Free Industrial Zone in Georgia is located in the capital, Tbilisi. It occupies a wide margin of hectares of land, and enjoys direct access to the largest work group in Georgia, as well as to the immediate proximity of the main freight transport highway, Tbilisi International Airport (30 km) and downtown from the city (17 km).
Land plots, with the smallest unit of 2,000 m2, can be leased individually or collectively for up to 50 years. Its unique configuration gives you the opportunity to merge several plots without restricting access to the road and communications.
LIST OF INCENTIVES
In addition to the benefits that Georgia provides to investors, the Tbilisi Free Zone enjoys a long list of
incentives.
TAX ADVANTAGES:
- The income of a company in the Free Industrial Zone is exempt from Corporate Income Tax Interest and Dividends paid.
- A Free Industrial Zone Company is not subject to taxes and is not included in the taxable income base of the recipient.
- Companies in the Free Industrial Zone are exempt from VAT.
- Companies in the Free Industrial Zone have no obligation to administer the personal income tax of employees.
- Companies in the Free Industrial Zone are not required to evaluate and pay reverse tax (RCVAT).
- The export is exempt from VAT with the right to tax credit.
- The property, including land, located in a Free Industrial Zone, is exempt from commercial property tax between a Free Industrial Zone Company and a Georgian company is taxed with 4% of the invoice.
Custodians and Actors
Free Zone of Tbilisi
OPERATIONAL ADVANTAGES
- Reliable infrastructure.
- Low rental prices.
- Eligibility for the certificate of national origin.
- Easy establishment of the company.
- Turnkey solutions.
- Low electricity rates.
- Proximity to the largest group of workers in Georgia.
- Licensing costs and simplified regulatory procedures.
- Costs of public services and communications.
