GEOALMAR
Our local experience is our strength.
Our long and prosperous history in the region has allowed us to develop a unique understanding of local real estate market dynamics and provide tailored rental management services that meet the specific needs of our clients.
At our company, maximizing returns is at the core of our business philosophy. Specializing in real estate, we work diligently to ensure our clients’ investments achieve exceptional results.
Our strategy is based on a careful approach to asset management, aimed at identifying growth opportunities and maximizing the potential of each property.
01.
At our company, we recognize that every great enterprise begins with thorough planning. Our business plan service is designed to help companies clearly define their vision, identify strategic objectives, and create a tangible roadmap toward success.
02.
Our commercial PR expertise highlights your company in the business landscape. We create targeted communication strategies to enhance visibility and build positive relationships with your audience.
03.
Our expertise goes beyond transactions. We identify profitable investment opportunities and guide you through the purchase process with competence and personalized assistance. Whether you are a new investor or an experienced buyer, we ensure every transaction is informed and profitable.
04.
Our team handles all aspects of property registration, ensuring legal compliance and efficiency.
05.
We provide interior design services that transform spaces into unique and welcoming environments. From concept to completion, we create interiors that reflect your style and enhance property value.
06.
We manage rentals, maintenance, tenant communication, legal documentation, and provide detailed financial reports to ensure smooth operation and maximum returns.
Our expertise in maximizing returns extends beyond daily operational management.
We use in-depth market analysis, detailed financial data, and a thorough understanding of industry trends to develop solid, sustainable investment strategies.
This meticulous approach allows us to optimize property financial performance and ensure significant return on investment.
Business Registration in Georgia
Entrepreneurial activity is defined as a legal, organized, and profit-oriented activity. Business registration is a fundamental condition to ensure protection for third parties and creditors and to clearly establish liability. Company registration includes both state and tax registration. Entrepreneurs are required to register with the Ministry of Justice of Georgia and the National Agency of Public Registry.
Key aspects of company formation include choosing an appropriate name, preparing a power of attorney, drafting the charter, paying contributions, establishing governing bodies, redistributing functions, and managing corporate affairs diligently. Our law firm assists in all these stages, providing the following services:
- Identifying the most suitable legal form for your needs.
- Defining mechanisms in the company’s founding documents according to your requirements.
- Verifying the availability of the desired company name.
- Preparing the power of attorney and other legally required documents, ensuring proper formalization.
- Drafting the company charter.
- Managing the state registration process.
- Assisting with tax registration through our legal team.
Our goal is to facilitate your company formation process, ensuring legal compliance and protecting the interests of both the company and its stakeholders.
Time for Registration
Company registration in Georgia is a fast process and can be completed in a single day. Administrative formalities have been simplified, and Georgian company owners can benefit from income tax exemptions. It is possible to register a company as a standard entity or obtain International Company status.
Types of Business Entities
- Limited Liability Company (LLC)
- Joint Stock Company
- Sole Proprietorship
- General Partnership
- Limited Partnership
- Cooperative
- Non-commercial organizations
Taxation
The following rates are indicative; each transaction, business activity, property ownership, or taxable event will be subject to separate, thorough, and personalized analysis.
- Personal income tax: 20%
- Corporate income tax: 15% (upon dividend distribution or deemed distribution)
- Dividend tax: 5%
- Other taxes: 0–20%
- VAT: 0–18%, reverse charge VAT
- Property tax: 0–1%
- Import tax: 0–12%
- Excise duties vary by goods
- Property tax is local
Foreign Ownership
Yes! Unlike many countries worldwide, foreigners investing in Georgian property enjoy the same benefits as native Georgian citizens. Real estate transactions are based on direct ownership, allowing you to purchase property in your name without creating a Georgian company or other complicated arrangements.
Closing costs
There is no stamp duty or equivalent tax for property registration in Georgia. However, a public services fee is required to register the property in your name, ranging from ₾50/$20 to ₾200/$80. Required documents include a passport copy and the property purchase contract.
Bank Accounts
Yes, the process is simple. You only need a passport copy and a small fee to purchase a Visa or Mastercard debit card. No minimum balance is required, monthly fees are low, and within 24 hours you can collect your card at the branch. Banks offer mobile and internet banking, allowing you to manage funds worldwide. Accounts can be held in GEL, USD, and EUR. Accounts must be opened in person; remote opening is not possible.
Why Invest in Georgia?
Tourism-driven market:
The Georgian real estate market benefits from tourism. In 2018, Georgia welcomed over 8.5 million tourists, remarkable considering a population of approximately 3.7 million. While tourism temporarily declined due to COVID-19, recovery is expected, with property prices projected to rise.
Current property prices:
Average prices per square meter in major cities range from $500 to $1,500, depending on location, view, and condition. Premium properties such as apartments or villas can reach $2,500 per square meter. Prices in Georgia are lower than in neighboring countries like Armenia, Azerbaijan, and Russia.
Why invest in Tbilisi?
- Affordable: $500–$1,500/m².
- High occupancy rates: 74% Airbnb occupancy in 2023.
- Potential capital gains: rapid development and expected growth.
Why invest in Batumi?
- The “Pearl of the Black Sea” is Georgia’s main business hub.
- Excellent infrastructure attracts investors, stimulates economic growth, and enhances the city’s international reputation.
- Real estate market growth: housing sales increased by 70% in May 2022, total market value up 66% to $59 million.
- Major projects include the new Batumi stadium (€30M) and the Ambassadori Batumi Island development with artificial peninsulas and luxury resorts.
Other investment cities
- Kakheti: Wine region, tourism all year, especially summer.
- Gudauri: Ski resort, attracts winter tourists with high-quality slopes and affordable prices.
Risks
Development properties: Construction delays, quality issues, minimum distance between buildings. Rare cases of fraud exist but most developers are reliable.
Secondary market: Risks include unclear title, liens, easements, neighbor disputes, unpaid utilities, missing furniture, and multiple owners.
Risk mitigation
Legal due diligence, developer verification, clean title checks, contracts drafted, signed, and registered correctly. Escrow accounts and notarization are used when necessary.