Advantages of investing in georgia Country
Georgia is a country that has become an attractive destination for investors due to its special location, special conditions and suitable business environment. Therefore, whether you are a domestic or international investor; Georgia offers you many investment opportunities. Each investment opportunity provides people with the opportunity to face a new world of business. Next, we examine the advantages of investing in Georgia:
Types of advantages of investing in Georgia
When a person decides to invest, one of the first things to consider is the benefits that the investment brings. In the same way, someone who intends to invest should know the advantages of investing in Georgia before anything else. These advantages include:
Georgia is in a special position
The first and most important advantage of investing in Georgia is that this country is in a special position. The country of Georgia is located on the geographical map exactly at the intersection between the continents of Asia and Europe. In fact, Georgia is located on the famous and historical route of the Silk Road, and in this way, Georgia can connect Western Asia and Eastern Europe.
This country is like a transit corridor that has access to both sea and land. Because it is bordered by the Black Sea, Russia, Armenia, Turkey and Azerbaijan on four sides. Also, Georgia has easy access to the important markets of the Middle East, Caucasus and Europe, which makes Georgia an important gateway for trade. As a result, despite Georgia being in such a special situation, it can be considered as a suitable option for investment.
Having a suitable environment for business
In recent years, Georgia has made a lot of efforts to create a space and environment that is suitable for business and investment and has achieved significant progress. Because now this country ranks sixth in the world in 2018 according to the ease of doing business index by the World Bank, which in turn is a high rank among the European and Central Asian regions. Part of the Georgian government’s efforts to improve the business environment include reducing bureaucracy, putting in place numerous tax incentives, simplifying administrative and tax processes, promoting transparency in business transactions, keeping tax rates stable, and the like.
Having an economy free from corruption
Corruption, like a viral disease, can paralyze any business, whether simple or prosperous. So, before starting an investment in a country, you should know about the state of corruption in that country’s system. This issue is very controllable in Georgia and the economic pressure in this country is decreasing. Also, since 1995, there has been an index called the Corruption Perceptions Index (CPI), which ranks countries according to the level of corruption seen in different sectors. And it is interesting to know that Georgia ranks 41 out of 180 countries. As a result, you can be sure that you will trade in a low-risk trading environment. This is one of the best advantages of investing in Georgia.
Keeping tax rates low
Another advantage of investing in Georgia is the low tax rates, which is also true for Georgia at the global level. The rate of these taxes is as follows: corporate tax is 15% and personal income tax is fixed at 20%. In addition, Georgia has a territorial tax system whereby businesses can only be taxed for doing business in Georgia itself and earning income in the country.
Being rich in natural resources
Besides, being rich in natural resources is one of the advantages of investing in Georgia. There are many natural resources in this country, such as fertile land, suitable climate, minerals and hydro, wind and solar power. As a result, the agricultural industry of this country is very strong with wine production and export of organic products. Moreover, the country has significant reserves of copper, manganese and gold, which attract mining companies to it.
Skilled workforce training
The labor force in Georgia is highly skilled, competent and educated, and their literacy rate is above 99%. This figure means that most people in Georgia have academic and professional literacy. Also, Georgia has a long history of specialization in science and engineering. Finally, the Georgian government has made important investments, especially in the technology and innovation sector, in its various educational programs.
Signing free trade agreements
One of the advantages of investing in Georgia is the signing of free trade agreements with the European Union, the Commonwealth of Nations, China, Turkey and other countries, which allow investors access to a wide range of markets. These agreements also provide beneficial trade terms such as reduced tariffs and simplified customs procedures.
Advances in transportation infrastructure
The last advantages of investing in Georgia is the development, progress and improvement of the country’s transportation infrastructure such as seaports, airports and railway networks. This improvement in infrastructure helps a lot in business, facilitates trade and commerce, and makes it easy to carry out imports and exports.
Finally, the advantages of investing in Georgia are numerous. By reducing corruption and improving the business environment, Georgia is devoted to its investment and in order to attract investors, thereby strengthening its institutions. In addition, many investment companies in Georgia can help foreign investors, for example, to navigate the legal and regulatory landscape of the country.