Digital Nomads and Tech Companies in Georgia
If you’re looking to work remotely, one of the best options to consider is the digital nomad visa in Georgia.
Georgia’s digital nomad visa “Remotely from Georgia” was started during the pandemic to encourage digital nomads to set up operations there.
The benefits are great but we’ll explore a few aspects digital nomads will have to consider before moving there.
Tech opportunities to consider
While all non-residents are not liable to pay any taxes until the 183rd day of their stay, Georgia also has a special provision called the ‘individual entrepreneur scheme’.
This is where Georgia’s Revenue Service issues a ‘small business’ certificate that allows businesses to only pay 1% income tax as long as your income doesn’t exceed 500,000 GEL ($187,000) annually. You’d be charged income tax at 3% if you exceed the 500,000 GEL threshold.
All in all, this makes a pretty impressive case for small business owners operating in tech to shift there.
For larger corporations, if you operate in eCommerce, IT consulting, internet marketing, crypto, etc, the Georgian government allows you to classify for the ‘virtual zone license’, which has benefits such as 0% VAT, 0% corporate tax, 0% profit tax, 0% export tax, no licensing fee, and 5% capital gains on dividends.
You can also opt for the virtual zone licence even if you’re a freelancer or a small/medium business owner.
Last but not least, if you operate in the IT sector or the shipping sector, and have an experience of over 2 years, you can obtain the ‘International Company’ status, which will allow you to only pay corporate and salary income tax of 5% (as opposed to 15% and 20% they are set at). And you’d be exempt from paying:
- VAT on abroad deliveries
- Property tax (except for land)
- Dividend income tax
All these benefits and opportunities are applicable to residents and as well as non-residents in Georgia.
How to apply for the digital nomad visa?
If these benefits have you convinced (or just intrigued), then here’s how you can apply for your digital nomad visa:
- Keep proof of income (bank account statement, work contracts, stock statement, employment contract), scanned photos of your passport, and your health insurance ready for review.
- Use this link to fill out your application.
- Wait for ten days to hear their answer.
And if you stumble across the way or need more help finalising the details or want to explore more business opportunities before you set sail, then get in touch with me, as we’d be happy to let in on expert insights.