Georgia: Operating a Business

Setting Up a Company

Joint Stock Company (JSC): Number of partners: One or more partners.
Capital (max/min): GEL 100,000, 25% of which shall be contributed by the respective shareholders immediately upon incorporation.
Shareholders and liability: Limited to its all assets. Shareholders are not liable for obligations of the JSC.
Limited Liability Company: Number of partners: 1 to 50 partners / shareholders.
Capital (max/min): No specific requirements.
Shareholders and liability: Limited to the share held in the capital of the company
General Partnership: Number of partners: One or more partners.
Capital (max/min): No specific requirements.
Shareholders and liability: the obligations of one or several partners towards the creditors of the partnership is limited to their investments into the company (limited partners - Comandits), while the other partners (Complementars) are personally liable for the company debt.
Limited Partnership: Number of partners: One or more partners.
Capital (max/min): No specific requirements.
Shareholders and liability: Limited for some partners and unlimited for others
Cooperative: Number of partners: One or more persons.
Capital (max/min): GEL 100
Sole Proprietorship: Number of partners: One personne
Capital (max/min): No specific requirements.
Shareholders and liability: Unlimited

The Competent Organisation: Registration of companies in Georgia is done through the Entrepreneurial Register.

Setting Up a Company	Georgia	Eastern Europe & Central Asia
Procedures (number)	1.0	5.3
Time (days)	1.0	11.8

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Georgia.
Doing Business in Georgia, Summary of legal forms and filing requirements.

	2018	2019	2020
Labour Force	1,922,142	1,892,372	1,892,477

Source: International Labour Organization, ILOSTAT database

Source: International Labour Organization, ILOSTAT database

Legal Weekly Duration: 41 hours
Retirement Age: Men: 70, Women: 60.
Working Contracts: Further information on the website of the Ministry of Labour, Health and Social Affairs.
Labour Laws: Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

Minimum Wage: GEL 20 per month (source: ILO, 2011).
Average Wage: Gross average monthly wage of men: GEL 742 (source: ILO, 2010);
Gross average monthly wage of women: GEL 426 (source: ILO, 2010).
Social Contributions: Social Security Contributions Paid By Employers: The social tax has been abolished and replaced by a doubling of income tax.
Social Security Contributions Paid By Employees: The social tax has been abolished and replaced by a doubling of income tax.

Social Dialogue and Involvement of Social Partners: Weak.
Labour Unions: Confederation of Georgian Unions
Unionisation Rate: 97.5 %
Labour Regulation Bodies: Ministry of Labour, Health and Social Affairs of Georgia

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