{"id":221,"date":"2021-12-13T11:03:58","date_gmt":"2021-12-13T07:03:58","guid":{"rendered":"https:\/\/ants.ge\/new\/%e1%83%a1%e1%83%90%e1%83%94%e1%83%a0%e1%83%97%e1%83%90%e1%83%a8%e1%83%9d%e1%83%a0%e1%83%98%e1%83%a1%e1%83%9d-%e1%83%99%e1%83%9d%e1%83%9b%e1%83%9e%e1%83%90%e1%83%9c%e1%83%98%e1%83%98%e1%83%a1-%e1%83%a1\/"},"modified":"2024-09-05T19:56:46","modified_gmt":"2024-09-05T15:56:46","slug":"international-company-status","status":"publish","type":"post","link":"https:\/\/ants.ge\/en\/international-company-status\/","title":{"rendered":"International Company Status"},"content":{"rendered":"<p>International company status is available to foreign investors and can offer significant tax benefits to the qualifying entities. In this article we will be discussing the exact benefits of holding this status and will be answering the frequently asked questions. Our company will provide all necessary legal and accounting services needed to obtain and maintain this status.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>What is International Company Status?<\/strong><\/p>\n<p>This status entitles entities to significant tax benefits. These are:<\/p>\n<ul>\n<li><strong><em>Instead of personal income tax rate of 20%, the company pays 5%<\/em><\/strong>\u00a0\u2013 for example if an employee has net EUR 1,000 monthly salary, instead of paying EUR 250 in taxes (1,000\/80%-1,000) company, which has the status, only pays EUR 52.6 (1,000\/95%-1,000)<\/li>\n<li><strong><em>Instead of corporate income tax (profit tax) rate of 15%, the company pays 5%<\/em><\/strong><\/li>\n<li><strong><em>Instead of VAT (value-added tax) rate of 18%, the company pays 0% on exports<\/em><\/strong><\/li>\n<\/ul>\n<p>Due to the above listed tax advantages, it is worth knowing whether your company would be eligible for the status.<\/p>\n<p>Our company offers\u00a0<a href=\"https:\/\/ants.ge\/en\/services\/accounting\/\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">bookkeeping services<\/a>\u00a0and files all relevant tax declarations.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>What companies are eligible for International Company Status?<\/strong><\/p>\n<p>The status can be obtained only either by\u00a0<strong>IT\u00a0<\/strong>or\u00a0<strong>maritime industry<\/strong>\u00a0companies. To be eligible for the status, company must have a minimum of\u00a0<strong>2 years\u2019 experience<\/strong>\u00a0in the field. However, if entity has more than 50% shareholder company, which has 2 years\u2019 experience, this satisfies the law requirement.<\/p>\n<p>It should be noted that it is\u00a0<strong>not mandatory<\/strong>\u00a0that 100% of company\u2019s revenues be generated from the relevant industries (IT and maritime), however other sources of revenues shall not exceed 2% it total during calendar year.<\/p>\n<p>Our company will carefully consult you on the International Company Status application process and will file the application form on your behalf. After obtaining the status, we will provide all necessary\u00a0<a href=\"https:\/\/ants.ge\/en\/services\/accounting\/\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">accounting services<\/a>. Our bookkeeping services also include all relevant tax declarations filing.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Frequently asked questions<\/strong><\/p>\n<p>Our clients often ask the following questions regarding the International Company Status:<\/p>\n<p><strong><em>If I establish an IT company which will provide services on the local (Georgian) market and more than 98% of revenues will be generated from IT services, will I be eligible for the status?<\/em><\/strong><\/p>\n<p>The short answer is \u2013 no.<\/p>\n<p>It is not sufficient that your company\u2019s revenues are generated from IT services. There is one more important criterion, which is not specifically mentioned in the state decree, however can be found in the application form. The additional requirement is that more than 98% of revenues must be generated from exports. In other words, to be eligible for the status, company must provide services to entities outside Georgia. Revenues generated from local entities shall not exceed 2%.<\/p>\n<p><strong><em>\u00a0<\/em><\/strong><\/p>\n<p><strong><em>If my company does not have more than 2 years\u2019 experience in the allowed fields (IT or maritime), however its owners (who happen to be individuals) have the relevant experience, will I be eligible for the status?<\/em><\/strong><\/p>\n<p>The short answer is \u2013 no.<\/p>\n<p>The reason is that the state decree specifically mentions that\u00a0<strong>shareholder company<\/strong>, and not shareholder individual, must have a minimum of 2 years of relevant field experience.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>International company status is available to foreign investors and can offer significant tax benefits to the qualifying entities. In this article we will be discussing the exact benefits of holding this status and will be answering the frequently asked questions. Our company will provide all necessary legal and accounting services needed to obtain and maintain [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>International Company Status - Ants.ge<\/title>\n<meta name=\"description\" content=\"Discover how Georgia&#039;s International Company status offers IT and maritime companies reduced tax rates of just 5% on income and profits, plus 0% VAT on exports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ants.ge\/en\/international-company-status\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Company Status - 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