These days many of our dear clients are asking us about how to start a business in Georgia and if it is really easy to run your own business as other said or not?
Despite the recent events in different and the rise of the exchange rate, most of the investors from different countries, now want to invest in foreign countries, including Georgia to maintain their value.
Georgia because of its position in the region as a connection between Asia and Europe.
As well as being well connected with the European Union and a well stable economy, economic stability is the best choice for foreign investors.
Different ways to invest in Georgia:
One of the things that are very attractive to investors in Georgia is running a hotel.
The tourism industry in Georgia is one of the highest growth in the whole of Europe in January 2019 tourism revenue reached $164.5 million.
that is 8 million dollars more compared to the same month of 2018.The government is very supportive of working with investors in boosting tourism in Georgia. Due to the lack of hotels and high capacity of tourists it’s one of the best ways of investing these days.
There are a lot of hotels that are run by foreign investors and they are so successful because they converted their capital from Rial to dollar.
It has also increased significantly with the growing economic trade in Georgia, their returns on capital have increased.
Since last year work routines have changed from hospitality to livestock, agricultural and different factories.
Livestock and agricultural because Georgian’s geographical position enables its soil to be very good for farming breeding livestock herding cattle which make agriculturally profitable for anyone who wants to invest in this field.
To start a business and have a successful investment in Georgia first you need to search and consider everything:
- Select the economic activity and the product
- What the Georgian’s market needs
- Finding a market to introduce an economic activity and your product
- Estimates cost and revenues
- Track the legal licenses
They are some of the most important things that you need to know about investing and running a business in Georgia.
According to the last legislated law, the minimum required price is $300,000 and you can get Georgian residency for 5 years for your family members (parents, spouse, children).
In case you have any question regarding running a business in Georgia you can contact our consultant in Ava Georgia.