Any solid & affordable Georgian accounting firms?

avalanche

Building Trust
Entrepreneur
Most Georgian accountants do not even know about user friendly Xero or Akaunting platforms for SME. Most of their software is in Georgian, quite confusing and overcomplicated (for my case).

Do you know any good accountants in Georgia who use modern software and are capable of working remotely?
 

avalanche

Building Trust
Entrepreneur
Again, thread bookmarked for future use, I have the exact same problem to find any reliable accounting firm that understand my "not native" English and can do the accounting remote.
The craziest issue is that all financial reports have to be done in Georgian language..
 

Joe Blasco

Active Member
The craziest issue is that all financial reports have to be done in Georgian language..
Gentlemen question pls : the Georgian Company must absollutelly be registeted for VAT to the tax office there so the VAT declarations must be sent to tax office every month, or it can be incorporated without VAT registration and thus less accountancy burden ?
 

avalanche

Building Trust
Entrepreneur
Gentlemen question pls : the Georgian Company must absollutelly be registeted for VAT to the tax office there so the VAT declarations must be sent to tax office every month, or it can be incorporated without VAT registration and thus less accountancy burden ?
LLC? As far as I'm aware, there is no mandatory VAT registration for any company in Georgia until your turnover reaches certain level.
 

Joe Blasco

Active Member
LLC? As far as I'm aware, there is no mandatory VAT registration for any company in Georgia until your turnover reaches certain level.
thank you. R u untaxed for income achieved outside Georgia also with a non resident director ?
 

avalanche

Building Trust
Entrepreneur
Gentlemen question pls : the Georgian Company must absollutelly be registeted for VAT to the tax office there so the VAT declarations must be sent to tax office every month, or it can be incorporated without VAT registration and thus less accountancy burden ?
However, I heard if you need temporary residency by employment (as the owner of your company), you might need VAT registration.
 

avalanche

Building Trust
Entrepreneur
thank you. R u untaxed for income achieved outside Georgia also with a non resident director ?
Probably yes. Legal persons founded in Georgia are taxed on their worldwide income. Individuals are taxed only on their income derived from Georgian sources. Here I'm not sure though.
 

Joe Blasco

Active Member
Probably yes. Legal persons founded in Georgia are taxed on their worldwide income. Individuals are taxed based on their source of income. Here I'm not sure though.
Ok because I was wondering why if untaxed, somebody would need accountancy service (except legal adress and company ducuments keeping for authorities)

If you can afford it (around $7k/yr license fee) go for Free Zone company, they are exempted from all tax
thks, I m interested in holding companies with no audit...

thks, I m interested in holding companies with no audit...
but with some credible bank, not Paxum or EMI...
 

avalanche

Building Trust
Entrepreneur
Ok because I was wondering why if untaxed, somebody would need accountancy service (except legal adress and company ducuments keeping for authorities)
Doing business in Georgia is tricky if you dont have any trusted translator here. Most of the documents and laws here are in Georgian language which cannot be translated sometimes by Google (if georgian text is written with english letters)
 

Joe Blasco

Active Member
Doing business in Georgia is tricky if you dont have any trusted translator here. Most of the documents and laws here are in Georgian language which sucks in my opinion.
yeah I can t imagine how guys who hold a company there can figure it out especially if there is auditing involved.
 

blueweb

Corporate Services
Business Angel
Mentor Group
They probably hire accountants who handle all that lol.
I'm on the outlook for some accountancy firm in Georgia too, need accounting, filing of taxes and even complete the VAT submission when it is due. Important for me is that they speak English, are fast in their replies if needed and they do the job without overpricing fees.
 

avalanche

Building Trust
Entrepreneur
I'm on the outlook for some accountancy firm in Georgia too, need accounting, filing of taxes and even complete the VAT submission when it is due. Important for me is that they speak English, are fast in their replies if needed and they do the job without overpricing fees.
Regarding overpriced legal services: I even seen some dudes offering a personal bank account in TBC for the whopping 3,000 EUR. Like.. really? You just come to any TBC branch with your passport and done.. :D lots of sharks around us.
 

Joe Blasco

Active Member
Regarding overpriced legal services: I even seen some dudes offering a personal bank account in TBC for the whopping 3,000 EUR. Like.. really? You just come to any TBC branch with your passport and done.. :D lots of sharks around us.
Does Georgia have any capital control or you can freely send through internet banking foteign currency to a non Georgian IBAN ?
 
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