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flag Georgia Georgia: Operating a Business

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

 

Setting Up a Company

Joint Stock Company (JSC)
Number of partners: One or more partners.
Capital (max/min): 15 000 GEL.
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): 200 GEL minimum
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): 100 GEL
Sole Proprietorship
Number of partners: One personne
Capital (max/min): No specific requirements.
Shareholders and liability: Unlimited
The Competent Organization
Registration of companies in Georgia is done through the Entrepreneurial Register.
 
Setting Up a Company Georgia Eastern Europe & Central Asia
Procedures (number) 2.0 6.0
Time (days) 2.0 14.0

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

2011
Labor force 1,959,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -63.70%64.30%
Men activity rate 73.80%73.80%74.20%
Women activity rate 55.10%55.60%55.80%

Source: UN - United Nations

 

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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.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

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
Unionization Rate
97.5 %
Labor Regulation Bodies
Ministry of Labour, Health and Social Affairs of Georgia

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Learn more about Operating a Business in Georgia on Globaltrade.net, the Directory for International Trade Service Providers.

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Last Updates: October 2014