E-RESIDENCY TO BE PRACTICED IN GEORGIA
"Electronic residency practice will be established in Georgia" stated Mamuka Bakhtadze, Prime Minister of Georgia at the briefing held prior to the Executive Government Meeting today.
As noted by the Head of the Government of Georgia, this novelty will enable citizens of 34 countries to incorporate companies via e-registration, open bank accounts online and fully benefit of the concessional tax regime existing in Georgia.
"It is a change of revolutionary significance. We are introducing an e-residency practice in the country. It will enable citizens of 34 countries without physical presence in Georgia to incorporate companies online, open bank accounts online and fully benefit of the concessional tax regime existing in Georgia. It is practiced by all advanced economies of the world. Every public institution will be instructed accordingly and respective package of legislative amendments will be submitted to the Parliament of Georgia. Our aim is to make this service effective from January 1, 2019. We will meet businesses today and will discuss this historic initiative with them in detail" stated the Prime Minister of Georgia.