Registration of a Business
Legal Forms of Registration
It is necessary to be registered as an entrepreneur-legal person to start a business (an entrepreneurial activity). Georgia introduced simple procedures for registration as an entrepreneur-legal person and it takes only one day for this. In order to register a business, it is important to choose among various forms of entrepreneur – legal person, which differs from each other by its nature, obligations and responsibilities.
- Registration of entrepreneur - legal person is performed by Legal Entity of Public Law (LEPL) National Agency of Public Registry (www.napr.gov.ge Address: #2 St. Nikoloz/N.Chkeidze, Tbilisi, 0102, Georgia) at the Ministry of Justice of Georgia.;
- Registration as an entrepreneur – legal person implies issuance of identification number and issuance of an extract from the Registry of Entrepreneurs and Non-Entrepreneurial (Non-commercial) Legal Persons. The extract can be obtained from the web-site of the National Agency of Public Registry.
There are the following legal forms:
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Entrepreneur – legal person
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Property Obligation
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Entrepreneur-natural person
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natural person-Entrepreneurs are personally responsible with all their assets before creditors for the liabilities arisen as a result of their entrepreneurial activities.
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Legal Persons
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Society of Joint Liability (General Partnership)
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Partners are directly and personally responsible with all their assets before creditors for the liabilities of the Society.
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Commandit Society (Limited Partnership)
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Some of the Partners of Commandit Society (Commandit) are responsible with limitation for the liabilities of the Commandit Society and some of the Partners (Complementary) are responsible personally, fully and without limitation to the extent of their total assets.
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Limited Liability Company (LTD)
Joint Stock Company (JSC, Corporation)
Cooperative
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Responsibility of the Partners is limited and is in proportion to the contributions they made to the Society.
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For required documents for registration, see
Legislation:
N996 Order of the Minister of Finance on Administering the Taxes.