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Georgia: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Joint Stock 15 000 GEL
Limited Liability Company 200 GEL minimum	1 to 50 persons Limited to the share held in the capital of the company
General Partnership	Unlimited on all the partners' property towards the creditors
Limited Partnership	Limited for some partners and unlimited for others
Cooperative 100 GEL
Sole Proprietorship	1

The Competent Organization: The competent organization is the Corporations Division.

Setting Up a Company	Georgia	Eastern Europe & Central Asia
Procedures (number)	3.0	6.3
Time (days)	3.0	16.3

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Georgia.
D&B Report Guide, Summary of legal forms and filing requirements.

Working Conditions

Legal Weekly Duration: 41 hours
Retirement Age: Men: 70, Women: 60.
Working Contracts: Further information on the website of the Ministry of Labor .

Cost of Labor

Minimum Wage: Between 20 laris (12 USD) and 120 laris (72 USD).
Average Wage: The average monthly gross earnings in Georgia is GEL 325 (USD 197).
Social contributions: Social Security Contributions Paid By Employers: The social tax has been abolished and replaced by a doubling of income tax.
Social Security Contributions Paid By Employees: The social tax has been abolished and replaced by a doubling of income tax.

Social Partners

Social Dialogue and Involvement of Social Partners: Weak.
Unions: Confederation of Georgian Unions
Unionization Rate: 97.5 %
Labor Regulation Bodies: Ministry of Labour, Health and Social Affairs of Georgia

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Last Updates: May 2012