Why Georgia setup is different
Georgia's administrative infrastructure for foreign business owners is unusually good. Opening a bank account, registering a company, and getting Small Business Status can all happen in a single productive day if you're prepared. This is not an accident — the Georgian government has deliberately engineered a welcoming environment for foreign entrepreneurs since the 2000s. The National Agency of Public Registry (NAPR) and Revenue Service both operate streamlined processes. The challenge is knowing what to bring and in what order to do things.
Day 1: Bank account
TBC Bank and Bank of Georgia are the two main banks used by foreigners. TBC is generally easier for non-residents. What you need: passport (original + copy), sometimes proof of address in Georgia (even a hotel booking), and sometimes proof of income or business purpose. Process: Walk in, take a number, fill out the form. TBC has an English interface on their app. Opening day is typically 1–2 hours including waiting time. Some branches are easier than others — the flagship Tbilisi branches deal with foreigners regularly. Note: Due to international sanctions compliance, some nationalities (Russian citizens in particular) have faced increasing difficulty opening accounts at Georgian banks. The situation changes — check with the bank directly before travelling specifically for this purpose.
Day 1–3: Tax registration and Small Business Status
Small Business Status (SBS) is a Georgian tax regime that caps tax at 1% of annual turnover for businesses with under 500,000 GEL in revenue (approximately $180,000). It is available to both Georgian citizens and foreign nationals who are Georgian tax residents. To register: Visit the Revenue Service of Georgia (rs.ge). You need: passport, Georgian bank account number (hence bank account first), and your Georgian personal ID number (assigned when you register as a person). The Revenue Service registers you as an individual entrepreneur (IE) and applies Small Business Status in one visit. Total time: 1–3 hours including waiting. Tax residency trigger: You become a Georgian tax resident after 183 days in a calendar year. Under SBS, all income (including foreign-sourced) is then subject to the 1% rate if run through the IE. Many nomads intentionally manage their days in Georgia to stay below 183 — this is legal but requires tracking.
Days 3–7: Optional LLC registration
If you need a formal legal entity (for contracts, invoicing B2B clients who require it, or applying for Virtual Zone status), register an LLC (Limited Liability Company, called 'SHpS' in Georgian). Virtual Zone status reduces corporate tax to 1% specifically on IT services revenue from non-Georgian clients — the most favourable tech business tax rate in Europe. Virtual Zone registration: Done through the NAPR (the National Agency of Public Registry) with a simultaneous application to the Revenue Service. Required documents: passport, company charter (a standard template works), registered address in Georgia (a virtual office address service works for this — costs approximately $20–50/month). Total cost: NAPR registration fee is approximately $20–50 depending on speed (standard vs. express). The whole process takes 1–5 business days.
Week 2: Accommodation and mobile
Long-term rentals: Tbilisi rental market is active on Facebook Marketplace, the 'Expats in Tbilisi' FB group, and ss.ge (the main Georgian property portal). Expect to pay $400–800/month for a fully furnished 1-bedroom in Vake or Saburtalo (the main expat neighbourhoods). Do not sign long-term leases from outside Georgia — the market is liquid and you can find something in 2–4 days of looking. Mobile SIM: Magti, Beeline, and Silknet are the main operators. Magti is generally recommended for coverage. You can buy a SIM at any electronics shop or the airport on arrival for approximately $5. Plans with 10+ GB data start at $5–8/month.
Month 1: Tax setup and ongoing
File your first monthly turnover declaration: Under SBS, you file monthly turnover declarations through the Revenue Service online portal (eservices.rs.ge). The 1% tax is paid monthly. The system is in Georgian and English — the English interface covers what you need. Accounting: Most SBS freelancers in Georgia do not need an accountant for the basic IE setup — the system is designed to be self-serviceable. If you have an LLC or Virtual Zone company, a local Georgian accountant costs $50–150/month and is worth it for the first year. Expat community: Join 'Expats in Tbilisi' on Facebook and the r/tbilisi subreddit. The community is active and generous with practical current-state information.