Georgia is the aspiring economic center of the Caucasus. It boasts years of robust economic growth, liberal tax and labor legislation, business friendly practices, low corruption, high security and openness to foreign investment.
Doing Business In Georgia Is Easy!
Specific sectors in which Georgia performed especially well were ease of starting a business and ease of registering property.
The World Bank ranked Georgia the seventh easiest place in the world to do business in 2020 (among 190 countries). The Heritage Foundation ranked Georgia twelfth (among 180 countries) for economic freedom in 2021.
Owning property as a foreigner is equally as simple. Georgia doesn’t impose foreign ownership restrictions, and its bureaucracy is minimal.
Real Estate and Hospitality!
The real estate sector in Georgia is the fastest-growing. Georgia has had a constantly growing number of tourists. Investors in Georgia can develop hotel and leisure, residential, retail, and office premises. They can benefit from the high demand for “A class” office buildings and entertainment facilities.
When foreign investors make an investment or conduct entrepreneurial activities, they enjoy rights equal to those granted to Georgian individuals/legal entities. Following the payment of taxes and other mandatory charges, a foreign investor is entitled to repatriate the earnings (income) or other funds that have been generated from the investment without any limitation.