An existing company in Georgia (Virtual Zone) + an opened account

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Buying an existing Georgian company with an opened corporate account in a Bank of Georgia – an advantageous proposal for those who want to open an IT-business in Europe!

About the company

Buying an existing company in the Virtual Zone of Georgia is a promising solution that will allow you to conduct business in the field of IT-technologies in the most comfortable and favorable conditions.

We recommend you to take a closer look at the key features of our offer:

  • Date of registration: 2017;
  • Company type: Limited Liability Company (Ltd);
  • Type of activity: IT-technologies;
  • Available accounts: an opened account in a Bank of Georgia;
  • Availability of registered address: yes;
  • The presence of a Certificate of the VZ legal entity: yes;
  • Business activity: no (no turnover).
Advantages of the Virtual Zone

If you want to buy an existing company in Virtual Zone of Georgia with a business account then we present you the following advantages:

  • If you are intended to buy an existing company in Georgia remotely, you will be completely exempted from paying corporate tax and VAT in the case when your company provides services to foreign consumers outside the Republic;
  • Buying an existing company in Georgia does not require availability of local staff;
  • There are no requirements for director residency.
The process of business re-registration

If you want to buy an existing Georgian company with an opened account, then you will need to prepare the following documents:

  • Passport and a copy of the beneficiary's passport (specification of the country of issue);
  • Certificate for the confirmation of the beneficiary's residential address.

Also, those who are interested in buying an existing company with the status of a Virtual Zone will need to follow these steps:

  • To undertake a personal visit to to the Bank of Georgia to reissue a business account on a new owner (with the obligatory specifying of the visit date);
  • To receive username and password for tax service.

It is worth noting that the presence of a Certificate of the Virtual Zone of Georgia (exclusively for IT companies) does not provide for registration of a VAT payer, but authorization is mandatory.

Also, the beneficiary has the opportunity to buy an existing company with an account in Georgia remotely.

Registering a business on a new owner will take up to 7 days.

The purchase price of an existing company with a corporate account in Georgia: 4 500 EUR

If you decide to buy an existing company in the Virtual Zone or you want to register a company in Georgia and open an account in a Georgian bank, then the best solution would be to seek professional help from IQ Decision lawyers.

Our experts are ready to provide you with a wide range of consulting and support services, as well as help to register an existing business on a new owner as quickly as possible.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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