Operating a Business

flag Georgia Georgia: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labour | Social Partners

 

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.

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The Active Population in Figures

201820192020
Labour Force 1,922,1421,892,3721,892,477

Source: International Labour Organization, ILOSTAT database

 
201720182019
Total activity rate 72.73%70.30%69.40%
Men activity rate 83.09%78.65%77.76%
Women activity rate 62.92%62.38%61.45%

Source: International Labour Organization, ILOSTAT database

 

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Working Conditions

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.

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Cost of Labour

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.

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Social Partners

Social Dialogue and Involvement of Social Partners
Weak.
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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Latest Update: November 2022