American custom software engineering company enters Georgia
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US custom software engineering company Exadel is opening an office in Georgia as part of the Georgian government’s initiative to offer favourable terms of taxation to companies that obtain the status of international company in the country, announces Georgian Economy Minister Natia Turnava.
In order to be granted the status of an international company it is necessary for a company that offers IT or maritime services to be registered in Georgia and have at least two years of work experience in the country.
After obtaining the status, the company will enjoy reduced property (but not land), profit, dividend (full exemption), and income taxes, with profit and income taxes reduced to five per cent.
Turnava said that Exadel will employ about 40 people in Georgia.
We think that in five years, IT companies that will relocate businesses to Georgia and employ locals will contribute about 5% to the country's GDP. This is our task", Turnava said.
US information technology company EPAM was the first company which opened an office in Georgia as part of the government's initiative and brought 30 employees to Georgia.
About 1,100 foreign citizens have applied for the Remotely from Georgia programme since August 27, which allows foreigners to travel to Georgia and work remotely from the country.
US information technology company EPAM is the first company that is opening an office in Georgia as part of the Georgian government’s initiative to offer favourable terms of taxation to companies that obtain the status of international company in the country, announces Georgian Economy Minister Natia Turnava.
Companies that offer IT and maritime services will be able to enjoy favourable terms of taxation in Georgia if they obtain the status of an international company, in the country, announces Georgian Finance Minister Vano Matchavariani.
A Chinese company is relocating its plastic recycling plant to the Georgian municipality of Khobi within the '100 Investment Offers to Business' programme, announces the Georgian Ministry of Economy.
Foreign direct investments (FDI) in Georgia amounted to $302.6 million in the third quarter of 2020, down 23.6% from the adjusted data of the same quarter of 2019 and up 25.2% from the preliminary data of Q2 2020, show the latest data of the National Statistics Office of Georgia (Geostat).
There are 17 maritime and IT companies in Georgia that have obtained the status of an international company, meaning they are able to enjoy favourable terms of taxation in the country, announces the Ministry of Economy of Georgia.
The McDonald’s Group in Georgia has opened its first bread factory, Breadfield, in the capital city of Tbilisi today which will supply buns to McDonalds restaurants not only in Georgia, but also in Armenia and Azerbaijan.
Spanish IT company Making Science has teamed up with Georgian IT company Sweeft Digital to serve international clients from Georgia. Deputy Minister of Economy Irakli Nadareishvili said that the government of Georgia had been supporting the development of an innovative IT ecosystem, and for this reason the government has created favourable terms of taxation for the companies that offer IT and maritime services and obtain the status of an international company in Georgia.
American business services company Concentrix has announced that it will now start offering remote services from its Georgian office. An official statement of the company reads that Georgia was chosen as the newest Concentrix location due to its 'solid, highly educated and multilingual workforce, as well as its focus on the services sector and reliable network connectivity'.
The American IT company Lineate will invest $700,000 in Georgia and create at least 50 new jobs after signing an agreement for a foreign direct investment grant with Enterprise Georgia, the state programme promoting entrepreneurial activity in the country on Thursday.