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What is “offshore Georgia”?
Offshore Georgia usually includes two special tax regimes:
- Free Industrial Zone (FIZ) — companies located in the FIZ (Poti, Tbilisi, Kutaisi, Hualing) do not pay CIT, VAT, import/export duties and dividend tax.
- Virtual Zone Company (VZC) for IT companies — also exempt from CIT and VAT when servicing foreign clients.
Both forms offer absolute tax exemption, which is what draws attention to the term “offshore Georgia.”
Georgia is a “white” jurisdiction without blacklists
Georgia is not included in the EU blacklist of countries with unfair tax regimes: as of February 18, 2025, 11 jurisdictions are listed, but Georgia is not among them. This significantly distinguishes “offshore Georgia” from BVI, Belarus, Seychelles, which are regularly reviewed according to the requirements of the EU.
In addition, Georgia has about 60 double tax treaties (DTT), which simplifies international payments of dividends and royalties.
Comparison: Offshore Georgia vs. BVI / Belize
| Criterion | Offshore Georgia (FIZ / VZC) | Classic offshore (BVI / Belize) |
|---|---|---|
| Income tax (CIT) | 0 % (FIZ, VZC) | 0 % |
| VAT / GST | 0 % (when exporting) | 0 % |
| Dividends | 0 % (FIZ/VZC) | 0 % |
| EU blacklist | No | Often included |
| DTT | 60+ agreements | 0—12 |
| Economic substance | No mandatory ESR (FIZ/VZC) | ESR mandatory; annual reporting |
| Real office | Minimum: legal address in FIZ | Expenses required (employees, office) |
| Banking services | Bank of Georgia, TBC, Wise, Payoneer | Difficulties with remote account opening |
| Capital | 1 GEL symbolically | 50—1 000 USD |
| Cost of service | 1 200—2 500 USD/year | 2 500—4 000 USD/year + ESR‐report |
Conclusion: Offshore Georgia offers similar tax advantages, but without the threat of blacklisting and the need for expensive substance audits.
How to choose the right form for “offshore Georgia”
| Purpose | Suitable mode | Justification |
|---|---|---|
| E‑commerce / light manufacturing | FIZ (Poti, Tbilisi, Kutaisi) | zero rate plus warehouses |
| IT / SaaS for foreign clients | Virtual Zone Company | 0 % CIT and VAT, fast registration |
| Investment SPV / holding company | FIZ (Tbilisi) | 0 % on dividends and “white” DTT |
Step-by-step guide on how to create “offshore Georgia”
- Define the mode: FIZ (Poti / Tbilisi / Kutaisi / Hualing) or Virtual Zone.
- Reserve the name online (1 day).
- Prepare statutes and passports; make translation and apostille (0–2 days).
- Prepare contract with FIZ administration or application to Revenue Service for VZC.
- Carry out the registration: 24 hours (VZC) / 3–5 days (FIZ).
- Open an account with Bank of Georgia / TBC or fintech companies (Wise, Payoneer).
Compliance and risks
- No ESR — in “offshore Georgia” there are no requirements to hire employees or provide a report, unlike BVI, where reporting is mandatory within 6 months after the end of the reporting year.
- Transparency of tax system — Georgia takes into account BEPS recommendations, but retains distributive income tax (taxed only on dividend payments).
- Bank compliance — bank accounts in Georgia are subject to KYC procedures; it is necessary to confirm the origin of funds.
Frequently asked questions about “offshore Georgia”
- Is it possible to work with clients inside Georgia?
- For a virtual zone this is not possible (otherwise the benefits are lost). FIZ can sell to Georgia, but will pay a one-time tax of 4 % of the revenue.
- What is the cost of accounting?
- Minimum from 1,000 USD per year (minimal reporting, only sales and purchase book).
- Do I need to file reports abroad?
- No, if the income does not come from Georgia; foreign income is not taxable, only domestic reporting is required.
Summary
Offshore Georgia offers a “white” alternative to traditional BVI and Belize jurisdictions: the same zero taxes, but without the risks of blacklisting and expensive economic substance obligations. FIZ and Virtual Zone allow you to organize your headquarters between Europe and Asia, withdraw dividends without delays and use a network of more than 60 DTT agreements.
Find out how Offshore Georgia will save your business money
Leave a request — we will calculate your actual tax savings and suggest the optimal regime (FIZ or Virtual Zone).
- Free tax calculation.
- Registration in 3–5 days.
- Account opening in Bank of Georgia / TBC Digital.