Georgia’s liberal trade regimes provide investors with a favorable opportunity to not only access the country’s 3.7 m residents, but the wider region’s markets, as a direct result of the absence of customs and import tariffs. To date, Georgia has signed FTAs with CIS countries that include Ukraine, Belarus, Moldova, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan, as well as its neighbors, Turkey, Azerbaijan and Armenia.
The Association Agreement (“AA”) with EU was signed and ratified in 2014, including Deep and Comprehensive Free Trade Agreement (“DCFTA”). Additionally on 27th of June 2016 Georgia signed FTA with EFTA countries, giving Georgian products duty free access to markets of Iceland, Liechtenstein, Norway and Switzerland.
General Schemes of Preference for Georgia with the US, Canada, and Japan have also been applied for, with the result being lower tariffs on 3,400 goods exported from Georgia.
February 2016 marked the start of negotiations between Georgia and Peoples Republic of China on free trade agreement. Considering high political interest from both sides, agreement will be reached very soon.Additionally, Georgia is a member of the World Trade Organization (WTO) since 2000.
In terms of border control, all foreign travelers to Georgia enjoy highly accessible and service-oriented customs policies and administrative protocol. There is almost no custom duty, with 90 % of goods being exempt from import tariffs, with no quantitative restrictions. The average time for customs clearance is currently about 15 minutes – one of the fastest and most efficient in the CIS.
Georgia has two unique Free Tourism Zones Anaklia and Kobuleti. The Government of Georgia offers to interested investors unprecedented terms for the construction of hotels along the seaside that has the best climate conditions: Free land - The land plot is granted to an investor for a symbolic price 1 GEL Exemptions from Property and Profit Taxes - hotel activities are exempted from Profit and Property taxes until 2026 Free casino license for hotels which have over 80 rooms Pre-packaged hotel projects Ready infrastructure – necessary infrastructure, such as electricity, water, gas, savage, is provided by Government
Anaklia is a new resort on the Black Sea coast. The lands that will be handed over to investors are located alongside the boulevard which was designed by Spanish architect Alberto Domingo Cabo. Ananklia is famous for its summer international music festival GEM fest.
Kobuleti is an already established, traditional seaside destination for international visitors. The town is 25 km away from the most popular seaside city Batumi and 30 minutes from Batumi International Airport. Kobuleti Free Tourism Zone includes 12 ha area for the development of ~30 hotels (140 meters from the sea coast).
EBRD – European Bank of Reconstruction and Development - www.ebrd.com
IFC – International Finance Corporation - www.ifc.org
EIB – European Investment Bank - www.eib.org
ADB – Asian Development Bank – www.adb.org
BAG – Business Association of Georgia - www.bag.ge
GCCI – The Chamber of Commerce and Industry of Georgia - www.gcci.ge
DWV – Deutsche Wirtschaftsvereinigung (German Business Association) - www.georgien.ahk.de
GEA – Georgian Employer’s Association - www.employer.ge
GSMEA – Georgian Small and Medium Enterprises Association - www.gsmea.ge
ICC – The Georgian National Committee of the International Chamber of Commerce - www.icc.ge
JSC Bank "Republic"- www.republic.ge
JSC "Privatbank" - www.privatbank.ge
JSC "TBC Bank" - www.tbcbank.com.ge
JSC "Bank of Georgia" - www.bog.ge
JSC "Liberty Bank" - www.libertybank.ge
JSC "Basisbank" - www.basisbank.ge
JSC "VTB Bank – (Georgia)" - www.vtb.com.ge
JSC "Cartu Bank" - www.cartubank.ge
JSC "Procredit Bank" - www.procredibank.ge
JSC "Silk Road Bank" - www.bta.ge
JSC "Capital Bank" - www.investbank.ge
JSC "The International Bank of Azerbaijan-Georgia" - www.ibaz.ge
JSC "Ziraat Bank A.S., Tbilisi Branch" - www.ziraatbank.com.tr
JSC "Caucasus Development Bank - Georgia" - www.cdb.ge
JSC "Turkey Isbank A.S Batumi branch" - www.isbank.com.tr
JSC "Progress Bank" - www.progressbank.ge
JSC "Terabank" - www.terabank.ge
JSC "Halyk Bank Georgia" - www.halykbank.ge
JSC "PASHA Bank Georgia" - www.pashabank.az
JSC “Finca Bank Georgia” - www.finca.ge