The cost of starting a corporation in Georgia is typically around $100 for the online filing fee or $110 for paper filing. To start a corporation in Georgia, appoint a registered agent, hold an organizational meeting to create corporate bylaws and appoint directors, and file Articles of Incorporation with the Georgia Corporations Division. You can choose to use a professional service or do it yourself.
It typically takes around 5-7 business days to start a corporation in Georgia once paperwork is filed with the Secretary of State. Expedited processing is available for an additional fee.
Georgia does not have a minimum number of directors required to start a corporation but must have at least one director. Shareholder names do not need to be included in the Articles of Incorporation.
The steps to register a company in Georgia are:
- Consultation and agreement
- Payment
- Appoint a registered agent
- Discuss business structure
- File paperwork
An S-corporation in Georgia provides personal liability protection and avoids paying corporate income tax, as income passes through to the shareholders. However, the business must meet IRS eligibility criteria and file Form 2553. An S-corporation is limited to 100 shareholders and may need to hold formal board meetings.
Compared to neighboring countries, Georgia offers low business start-up costs and various benefits for investors. Corporate income tax starts at 15%, with an increase to 20% for financial services companies starting in 2023. Costs may be even lower outside of Tbilisi.
The annual fee to renew a corporation in Georgia is $50, with additional annual fees depending on the business structure.