If you are a citizen of Georgia or a foreign country and work as a freelancer, receiving income from your activities in Georgia or any other country, you need to ensure your earnings are legal and official by registering as an individual entrepreneur.
The key benefit of this status is that you will only pay 1% of your income in taxes. This 1% rate is exceptionally competitive and not commonly found in most other countries.
Why should you register your income officially?
Compliance with Tax Laws: Officially recording your income ensures adherence to the country's tax regulations, thereby making your earnings legal and protecting you from potential penalties by the Revenue Service.
Access to Financial Services: Official income records facilitate access to various financial services, such as loans, mortgages, and credit cards, which typically require proof of official income.
Visa Applications: Legal income is also crucial when applying for visas, as it demonstrates financial stability.
Additional Benefits: There are numerous other advantages to having a legal income, which can be discussed in detail during a consultation.
Regarding the registration process, minimal documentation is required. Notably, foreign citizens do not need to have residency status to register as an entrepreneur in Georgia.
Book a free consultation with us to receive comprehensive advice and guidance.
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