🇬🇪 年度合规 — Georgia

Assuming Virtual Zone status applies to any business

Fix: Virtual Zone is exclusively for IT companies earning income from non-Georgian sources. If your business is not in the IT sector — for example, consulting, e-commerce, or marketing — you do not qualify. Non-IT businesses should consider the Small Business status (1% turnover tax) or the standard distribution-based regime (15% on dividends) instead.

Ignoring personal tax residency obligations in your home country

Fix: Georgia's 0% or 15% corporate rates do not override your personal tax obligations. If you are tax-resident in a country with CFC rules (most of the EU, the US, the UK), that country may tax you on the Georgian company's income regardless. Consult a tax adviser in your country of residence before relying on the Georgian tax structure.

Trying to open a bank account remotely without preparation

Fix: While remote account opening is possible, it is significantly easier to open a Georgian business bank account in person at a TBC Bank or Bank of Georgia branch in Tbilisi. If you cannot visit, prepare comprehensive documentation including notarised passport copies, proof of business activity, and a detailed description of your company's operations.

Overlooking the VAT registration threshold

Fix: VAT registration becomes mandatory at GEL 100,000 (~$37,000) annual turnover. If you exceed this threshold without registering, you face penalties. Monitor your revenue and register proactively as you approach the threshold.