Opening an entity in Georgia is easy… unless you are talking about the country, which of course we are. There is so much great talent in Georgia with more talent relocating there every day, and the national laws of Georgia make it a very appealing place to hire. Of course, the problem is how do you hire that talent compliantly? You have to create a local entity in Georgia. And guess what? We recently did it ourselves. We will share our experience but the tldr; is – hiring through Truss allows you to bypass all of the steps required to compliantly hire in the country of Georgia.
Step-By-Step Guide to Opening an Entity in Georgia
We’ll be honest, even with our experience with opening entities in other countries it wasn’t a walk in the park. Here are the steps we had to take:
- Spent Hours Studying Georgian Law—When you open entities, you almost have to become a law expert. We spent hours deep diving into the corporate laws of Georgia to find the best path forward for us and for our clients.
- Hire a Georgian Law Firm—Do you know any good Georgian law firms? Neither did we, but we had to search and eventually we found a law firm that specializes in company registration and was right for us.
- Determine Which Type of Entity to Create—If you’re like us, when you first opened your business you spent a lot of time ensuring you choose the best business type. We had to do the same for our entity to ensure we were unlocking the best tax scenarios for our clients.
- Provide Documentation—Next up, we had to go through all the documentation required, and it all had to be properly notarized and properly authenticated. This step alone took us two months.
- Articles of Incorporation Prepared—Now we could have our law firm prepare our Articles of Incorporation according to Georgian law.
- Register the Company—It was a long road already and all this was just to get to the point where we could register our new entity.
- Provide Power of Attorney—The Georgian banks will require power of attorney documents and these had to be notarized and properly authenticated as well. Another process which took us two months from start to finish.
- Hire a Georgian Accountant—Do you know any good Georgian accountants? We doubt it. We certainly didn’t, but it was a necessary final step before we were able to open for business in Georgia.
How Long Will it Take to Open an Entity in Georgia
After all this, even with the knowledge we just gave you, you can’t do it overnight, by the end of the week, or even by the end of the month. Expect the process to take at least four months if not six and thousands of dollars, and as more companies start to open up entities in Georgia, this process could take even longer. We already had to deal with a backlog and we began the process well before the Russian-Ukraine crisis which has unfortunately only added to potential delays.
How Do You Hire Quickly in Georgia
We get it, you’re stuck between a rock and a hard place. You need new talent yesterday or maybe—in light of recent events—you need to give the global employees that you already work with an option to work elsewhere.
This is where Truss comes in. You don’t have to wait, and you don’t have to go through all the work and stress that we already went through. Let Truss support you and be your employer of record in Georgia. We have the entity so that you can focus on more important things. Employ people in Georgia tomorrow with Truss.
