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In this video:
Table of Contents of this Post
Benefits of Starting a Manufacturing Business in Georgia
State Support for Foreign Direct Investments – FDI grant program, what is it?
Government support for production business vol 2 – Produce in Georgia Project
Top ideas for Manufaturing Business
Steps to Start Manufacturing Business in Georgia, Caucasus
Major Takeaways
Some more Ideas for Manufacturing Business
Get Help to start Manufacturing Business in Georgia
Benefits of Starting a Manufacturing Business in Georgia
Strategic Location
We are talking about Georgia today. The country is strategically located at the intersection of Europe and Asia. For many years up until now, it has had a function to contribute transportation of some important export goods.
Development Potential
One more benefit is the increasing rate of GDP. The country shows promising macroeconomic performance. Gross Domestic Product Per Capita consists of 4 696.2 US Dollars and the Real Growth Rate is 5.0 %. for further you can find the chart below:
Easiness of Doing Business
Additionally, Company formation Procedure in Georgia is quite simplified and you can also register a company online with the POA. Our team is ready to assist you no matter what kind of difficult requirement is. We are also able to help open your business bank account, Obtain your residence permit, suggest some additional services such as Tax Consultancy and bookkeeping Services according to the EU standard.
Access Global Market
Though Georgia is not the biggest market ever, you can benefit from access to the global market. With a production unit in Georgia, you cut export costs as well as benefit from accessing various countries. Georgia signed a free trade agreement with the EU, access easily European countries. Apart from that, the Georgian Manufacturing business opens doors to other continents too. Free Trade Agreements with Turkey, EFTA, China (including Hong-Kong), CIS countries, and Ukraine as well as Generalized System of Preferences (GSP) with the USA, Canada, and Japan.
Tax Benefits
When you start a production Business in Georgia do not export products you do not pay tax, because Georgia allows you to operate export tax-free. There is no export tax in Georgia. To further incentivize production Business, a few years ago free trade zones were interpreted. Though these zones have slightly higher rent rates and make you pay a fixed amount yearly, medium and larger-scale businesses can benefit also from corporate profit tax exemption. More on the Georgian taxation system can be found in this simplified taxation guide.
Cost Reduction
Utilities, in particular, electricity and labor cost allows you the cost reduction. Competitive pricing on both markets can result in high-cost cut and increased profitability
Government Supports Manufacturing Business
Georgia offers a number of incentives and co-investment opportunities to companies interested in developing manufacturing facilities in Georgia.
When it comes to state support, you should consider two major projects that are ongoing. One of them is directly related to Foreign Direct Investment and is also was larger scale investors, another one is relatively smaller. These two are called – FDI grant program and Produce in Georgia.
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