TBILISI FREE TIME ZONE

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According to the Georgian legislation there are no restrictions on foreign ownership of companies or the form of ownership itself. Therefore, TFZ Enterprise may be established by a local and/or foreign individual, as well as a local and/or foreign legal entity.

THE TYPES OF BUSINESS STRUCTURES ELIGIBLE FOR REGISTERING IN TFZ ARE:

Individual Entrepreneur (IE)

An entrepreneur who is personally liable to creditors, he/she lacks legal personality.

Branch Office

Structural sub-unit of a business entity, which is registered as a representation of a foreign-registered legal entity.

Limited Liability Company (LLC)

Legal entity whose liability to creditors is limited to its property. There is no minimum charter capital required. A single person may establish an LLC.

Joint Stock Company (JSC)

Legal entity with the minimum charter capital of 15.000 GEL.

Limited Partnership (LP)

Legal entity where the liability of some partners (limited partners) to creditors is limited to certain warranty amount, while the liability of the other partners (unlimited partners) is not limited.

General Partnership (GP)

Legal entity incorporated by private individuals only where partners/founders are jointly liable with their property to creditors.