A micro business is 0% tax for turnover under 30k GEL (about $10k) per year, with tight restrictions on business activity. A small business pays tax at 1% to 5% for turnover under 500k GEL (about $150k), also with tight restrictions.
Normally it's 20%
income tax. Or 15% company tax + 5% dividend tax.
Virtual zone (exporting IT services from Georgia) avoids the 15% company tax. After 20% tax on salary, profits can be taken at just the 5% dividend tax. Free zone experiences vary; some people seem to like them, other say it's a hassle. Banking seems
very difficult for a FZ company.
There are interpretations of the Georgian tax code that say
crypto trading profits are tax free (for individuals, not companies unless FZ). I plan to submit a small tax return and see what the Revenue Service actual do.
If the company is run from Georgia then its income is not foreign income. It's probably taxable Georgian income. Also if work is done in Georgia for a foreign managed company then some profit taxes can be due because of the Permanent Establishment.
Yes. Local food and wine are good, but you don't get fine dining like in London or Paris. Plenty of the great outdoors nearby. But really it depends what you like to do. I know people who like
Tbilisi but found Malta too boring (I like both). Other people don't like the lack of modernity when it comes to roads and pavements, occasional electricity and water outages, etc. Internet is better than in much of the UK.
