How Foreigners Can Pay 1% Tax in Georgia

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Nomad Capitalist

Nomad Capitalist

Күн бұрын

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How can you pay 1% tax in Georgia? In this video, Rusudan Abdushelishvili, the Deputy Chief Financial Officer at Nomad Capitalist, discusses how you can live in Georgia and pay 1% tax as a private entrepreneur.
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Пікірлер: 279
@jamieopulence
@jamieopulence 3 жыл бұрын
Interesting - Very interesting indeed. Georgia 🇬🇪 is an interesting proposition with what I would imagine to be a quality value of lifestyle to be had.
@bilyonarelifestile2226
@bilyonarelifestile2226 3 жыл бұрын
I need woman but she must be strong on plow
@allankamen9875
@allankamen9875 3 жыл бұрын
I shared this on a group in Vietnam where the government is purging most digital nomads. I know there is a large diaspora of expats who have fled Vietnam since May. Many will go to Mexico, some to Indonesia or Albania or Montenegro and some are actually going to Batumi in Georgia to live. I really likes this video.
@lankstephens6374
@lankstephens6374 6 ай бұрын
Yes, a great video, and Georgia a great place. But what do you mean Vietnam is purging digital nomads? That's not what I've seen at all. What are you referring to? Thanks.
@xxxxx2084
@xxxxx2084 3 жыл бұрын
I love Georgia spitting in the face of global minimum tax.
@mansgottaeat8879
@mansgottaeat8879 3 жыл бұрын
S
@user-yq5yv9ng1d
@user-yq5yv9ng1d 29 күн бұрын
God bless Georgia. /Swede
@xypher337
@xypher337 3 жыл бұрын
Georgia has a bright future!
@davidanalyst671
@davidanalyst671 3 жыл бұрын
no it doesn't because Putin is next door and whenever he gets re-elected for president, he uses the russian army to take his neighbors land.
@OldMoneyInsights
@OldMoneyInsights 3 жыл бұрын
No it doesn't because it is a prostitute to US. So military bases and labs on the ground and small agrarian economy makes it a pushover.
@alwayslearning7672
@alwayslearning7672 3 жыл бұрын
@@OldMoneyInsights I heard they receive 1 billion a year from the US.
@filiushermesio
@filiushermesio 2 жыл бұрын
@@OldMoneyInsights You're talking a nonsense!
@Caralda
@Caralda 3 жыл бұрын
I was asking myself why you didn't talk about 1% micro-entrepreneur yet. Now you finally did it, thank you 😊 This is a wonderful country for individual entrepreneur !
@ibrahim_sultan101
@ibrahim_sultan101 3 жыл бұрын
Before you start showering her with admiration, first establish if the 1% tax on income generated in Georgia is advantsgeous as this tax treatment seems to exclude a wide range of income generated outside of Georgia. Georgia has a weak economy, what kind of income can one generate operating from Georgia?
@wanderingdoc5075
@wanderingdoc5075 3 жыл бұрын
@@ibrahim_sultan101 I can think of at least 10 business ideas off the top of my head
@tlesta666
@tlesta666 3 жыл бұрын
@@wanderingdoc5075 can you please share some
@Caralda
@Caralda 3 жыл бұрын
@@ibrahim_sultan101 No need to sell in Georgia. Digital entrepreneurs can sell everywhere.
@ibrahim_sultan101
@ibrahim_sultan101 3 жыл бұрын
@@wanderingdoc5075 Feel free to elaborate on the 10 ideas.
@marcusmazdaboy
@marcusmazdaboy 3 жыл бұрын
Lots of great information Rusudan, lots more vids about Georgia please!
@Test-vm2fx
@Test-vm2fx Жыл бұрын
I registered a company in Georgia. Yes, you do only pay 1% income tax, but you pay 20% tax on products and services you buy abroad. There is a way to get around this if you buy product or services from countries that have a tax agreement with Georgia, but most of my freelancers are from countries that do not have an agreement with Georgia so I am paying quite a lot of tax.
@aresjack2810
@aresjack2810 3 жыл бұрын
Great info Thanks Rusudan - Great to see more of the team members sharing their advice with the community - Well Done :)
@MerlinD1968
@MerlinD1968 3 жыл бұрын
Thank you Rusudan. Great video, and keep us updated on Georgia.
@derkhawkins2575
@derkhawkins2575 3 жыл бұрын
Great information and it was delivered well. The speed and minimal expense are very appealing. Thank you.
@sendjameslove
@sendjameslove 3 жыл бұрын
Thank you, very informative. Georgia is still on my list of possible places to relocate to, and I appreciate all the information you are providing. Though, I must admit it took me until the 3rd pronunciation to realize that it wasn't "Interpreter" and was instead "Entrepreneur", which really elevated the game on my level of understanding. 😂 Please forgive my ears.
@wesleyn4545
@wesleyn4545 2 ай бұрын
Don't worry you don't have to apologize for hearing things correctly
@smallmovezmusic
@smallmovezmusic 3 жыл бұрын
Your advice has truly changed my life for the better. Thank you so much.
@Odedf4
@Odedf4 3 жыл бұрын
There's also the 18% VAT issue that may apply, and it requires careful examination as the VAT law in Georgia is a bit different compared to the European standard.
@martg0
@martg0 3 жыл бұрын
Thanks for the video. I am curious to know how the countries will compete to attract the nomad workers of this new era. I live in Argentina, and the situation is the opposite. Here, each day the government incentivizes people to leave. 🇦🇷😭🛫
@juanpaoli
@juanpaoli 3 жыл бұрын
@Alberto Fernandez xd
@whysunisyellow9286
@whysunisyellow9286 3 жыл бұрын
If you come to Georgia, you are required to bring three argentian women, these new requirment was passed by Georgian parliament for all latin countries.
@whysunisyellow9286
@whysunisyellow9286 3 жыл бұрын
@Alberto Fernandez 👍
@CabroAR
@CabroAR Жыл бұрын
Mal, yo en marzo voy para Georgia a ver qué onda
@martg0
@martg0 Жыл бұрын
@@CabroAR éxitos!!!! 💪
@aquilomanganelli175
@aquilomanganelli175 3 жыл бұрын
Miss Rusudan I am impressed with your English fluency and your voice is quite soothing. I could listen to you speak for many hours without fatigue. Andrew I hope you continue to spice up your content with engaging, fresh faces!
@korujaa
@korujaa 3 жыл бұрын
You are the best, thanks a lot, great content !!!
@futurekron
@futurekron 3 жыл бұрын
This is perfect for someone like me. Does Georgia have a similar treaty as Europe with the US where I can earn up to $90k and not be double taxes by the US?
@ohkav
@ohkav 3 жыл бұрын
Georgia has double taxation treaty with 56 countries, i believe usa is not one of them, but i might be wrong.
@whysunisyellow9286
@whysunisyellow9286 3 жыл бұрын
Yes, I checked it and you can earn up to somewhere 120,000 and not get double taxed. You should check it again but I am pretty sure on that.
@casualhustler6328
@casualhustler6328 3 жыл бұрын
Thanks for the info, much appreciated and most useful!
@cameronf3343
@cameronf3343 3 жыл бұрын
The country with the Caucasus Mountains having a 1% tax rate?? Oh I’m definitely interested.
@carsonnavigator4066
@carsonnavigator4066 3 жыл бұрын
Maybe I missed something: how much time must I spend in Georgia per annum to make used of this scheme? Great stuff
@mansgottaeat8879
@mansgottaeat8879 3 жыл бұрын
kind of a backhanded comment , you could of called it a program which it is
@Joseph.Gallardo
@Joseph.Gallardo 2 жыл бұрын
182 days.
@lankstephens6374
@lankstephens6374 6 ай бұрын
We need clarification from her, but she said that you do not have to be a Georgian Tax Resident to be a private entrepreneur, and as far as I understand, 183 days or more = G Tax Res.
@ChrisOstreicher
@ChrisOstreicher 3 жыл бұрын
Very interesting opportunity for sure. I am curious what "very large investments" mean, though. If investments are my main source of income, I may not take part in this program, right? Or is there a threshold with respect to amount invested (and perhaps what class of asset) instead of percentage of the income derived from investments?
@ianclarke4945
@ianclarke4945 2 жыл бұрын
Any country that opens it's doors to people who will bring in capital/resources and not drain capital/resources is defiantly smarter than most.
@robertjosan
@robertjosan 2 жыл бұрын
Just to be clear This 1% income tax is money earned in Georgia, how about income earned outside of Georgia such as the US stock market?
@VelocityXcel
@VelocityXcel Жыл бұрын
What are the tax rules for foreign sourced income? So, income earned in a foreign country.
@benkim2016
@benkim2016 28 күн бұрын
I think 0tax if you keep the earning in the home bank!
@oliveribanez
@oliveribanez 3 жыл бұрын
Would this be good for youtubers/online content creators? Would only pay 1% tax if my income comes from Google/Facebook and other foreign websites?
@CrezyTron
@CrezyTron 3 жыл бұрын
According to the Georgian law, online content is not taxed at all(I'm not expert but i think so) if you are youtuber or online content creator you don't need to establish any company you could just fly to Georgia and do whatever you want.
@CrezyTron
@CrezyTron 3 жыл бұрын
A lot depends on the income
@oliveribanez
@oliveribanez 3 жыл бұрын
@@CrezyTron interesting if true
@ohkav
@ohkav 3 жыл бұрын
@@CrezyTron online content is not taxed but income wether it's from online content or onlyfans is income and is taxed.
@AlpineDividends
@AlpineDividends 3 жыл бұрын
following
@danielcastro8387
@danielcastro8387 3 жыл бұрын
I hope I can do that in 2 years. I'm just starting, but I think that is how projection works. Thank you very much. 👏🏼👌🏽
@Thomas-xj8bf
@Thomas-xj8bf 3 жыл бұрын
If you're American, you still have to pay 15% self employment tax to the US government even if you are using Foreign Earned Income Exclusion, so you'll be paying 1% to Georgia and 15% to the United States.
@mansgottaeat8879
@mansgottaeat8879 3 жыл бұрын
16% is better than 40%
@Thomas-xj8bf
@Thomas-xj8bf 3 жыл бұрын
@@mansgottaeat8879 Indeed, but the title is massively misleading as people are not reminded of their US tax obligations.
@Thomas-xj8bf
@Thomas-xj8bf 3 жыл бұрын
@@mansgottaeat8879 Aka, you do not pay 1%.
@russellschaeffler
@russellschaeffler 3 жыл бұрын
I was born in Georgia, unfortunately not that Georgia.
@Elemental1331
@Elemental1331 3 жыл бұрын
I got a sudden urge to move to Georgia 😍😍🥵
@danielj3010
@danielj3010 3 жыл бұрын
she is the best.
@RandomUserName92840
@RandomUserName92840 3 жыл бұрын
Smart and beautiful. Hard to find in the west
@turtleneckandchain9918
@turtleneckandchain9918 3 жыл бұрын
No she is not the best. Andrew’s dad is my type of eye candy.
@tomtocz7284
@tomtocz7284 3 жыл бұрын
Thanks, been waiting for this video :)
@LelioFarias
@LelioFarias 3 жыл бұрын
Wow! I loved this information! Thanks a bunch! I'll buy your book today ! Many thanks!
@hindenburgminsky7638
@hindenburgminsky7638 3 жыл бұрын
Only 1%? OMG that's heaven to me!
@travelsizearchitect
@travelsizearchitect 3 жыл бұрын
Great overview, Rusudan, thanks! I'd love to ask: Since Architecture services are not covered with this benefit, how about Interior Design Services?
@shaneoconnor1407
@shaneoconnor1407 3 жыл бұрын
Other information I've seen states that it is not a 1% tax on Georgian sourced income but on gross business turnover. Could you please clarify this? Otherwise, this would suggest that a tax on business turnover would also presumably cover foreign income as well.
@ohkav
@ohkav 3 жыл бұрын
no Georgia does not tax your foreign income unless if you are operating(and registered in) from Georgia to provide products or services. e.g. you are registered either as individual enterprenuer or LLC or whataver, and provide service to someone in london, vienna or new york, that income will be taxed same as income from local sources unless if there is double taxation aggrement with a country and you can provide proof that you are paying taxes on that income in said country.
@garry_personal_brand
@garry_personal_brand Жыл бұрын
South African digital nomad living in Tbilisi. The hardest challenge and it could be due to my location I chose first is the people dont seem to want to speak English , mostly the older generation. Other than that , it was a smooth transition for both myself and my daughter to relocate to Tbilisi. The cost of living isnt that high and in general its an amazing place to live. I would strongly urge my fellow South Africans to take the leap ... Especially single men :) , do it now and dont look back
@nomadcapitalist
@nomadcapitalist Жыл бұрын
Thanks for sharing your experience.
@ryanp1540
@ryanp1540 3 жыл бұрын
it wasnt quite clear to me, after 2 years of exceeding that 158k USD threshold and pay 3% for those 2 years, you lose status and then what? taxed a higher % ? or ?
@sirgalahad2
@sirgalahad2 3 жыл бұрын
Yep taxed at the normal 20% tax rate.
@rickc.3552
@rickc.3552 3 жыл бұрын
So, if you make over $150K per year for 3+ straight years, you’re no longer eligible? This doesn’t make sense for those of us who make 7 figures a year.
@mansgottaeat8879
@mansgottaeat8879 3 жыл бұрын
i'm guessing there's a short time period you have to wait and then you can reapply for another 3 years
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
Rick, see my reply to Wolfgang Wust above. No few UHNW folks from all over live in Georgia (like me), in part because of their favorable tax laws. Get the full and factual picture of Georgian taxes, and I think you will understand why, whether it works for you or not. For example, Georgia doesn't tax crypto gains or income at all, or any foreign investment income. Georgian taxes are remarkably few, simple, and low.
@rickc.3552
@rickc.3552 3 жыл бұрын
Thank you Randall.
@aamirpatel8240
@aamirpatel8240 Жыл бұрын
in 2019 i visited georgia for 6 days only. i wish i stay long very beautiful country people are very kind and helpful.. Mam I have one question can Crypto Traders live in georgia, how much days live & which visa required please Guid..
@AlbanGerome
@AlbanGerome Жыл бұрын
Great video! Do you need to be a resident or not? At one point you say that residence is not required, but you need to provide an address in Georgia. Does this mean you will need a virtual office in Georgia if you don't live there?
@uglyboydonk
@uglyboydonk 3 жыл бұрын
I tried pronouncing her name.
@turbokid8719
@turbokid8719 3 жыл бұрын
Well I’m interested in Georgia 👍🏻
@mehmetemrahozyazgan1000
@mehmetemrahozyazgan1000 Жыл бұрын
i want to ask, if we have a short term stay (30 - 40 days of airbnb flat rent) and then we move to another flat, should we update our address, or what if we decide to live in another country for 3 months? is it a problem if our legal address is used by somebody else after setting up company?
@CamaraTheCapitalist.
@CamaraTheCapitalist. 3 жыл бұрын
So if I’m making my money online in the United States economy via Facebook, ebay, etc. are you telling me that if I become a Georgia “Private Entrepreneur” I will now only be required to pay 1% in taxes on my online earnings?
@patilabhinav7941
@patilabhinav7941 3 жыл бұрын
You are best man thanks for educating me.
@turtleneckandchain9918
@turtleneckandchain9918 3 жыл бұрын
I thought she was a he too.
@saigonexile531
@saigonexile531 3 жыл бұрын
Sign me up! lol.........Georgia has always been on my bucket list.
@mobileandroid5299
@mobileandroid5299 3 жыл бұрын
Booking my flight to Georgia right now
@turtleneckandchain9918
@turtleneckandchain9918 3 жыл бұрын
No you’re not - don’t lie.
@nickromero8875
@nickromero8875 3 жыл бұрын
But if you are a US citizen, don't you still have to pay USA taxes on all income even if you set up in Georgia?
@thomasthumim7630
@thomasthumim7630 3 жыл бұрын
Thank u for the eye candy Andrew U r a man after my own heart
@zer0gravity184
@zer0gravity184 3 жыл бұрын
I thought Schwarzenegger was a long last name...I stand corrected.😯😁
@t3r083
@t3r083 3 жыл бұрын
But if you are a US citizen you still have to pay federal taxes to the US right?
@geraldenright9845
@geraldenright9845 3 жыл бұрын
I heard a very quick reference to this tax applies to "income in Georgia". If I have other sources of income from outside the country how does Georgia treat that?
@MrGurujohnny
@MrGurujohnny 3 жыл бұрын
Also had the same question
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
Georgia has a territorial tax regime, which normally means that it does not tax anyone's income coming from outside Georgia, including all forms of passive income, such as pensions, dividends, interest, capital gains, etc. However, very recently an exception has been introduced, which I don't yet fully understand. I think that the general idea is that if an expat business owner is tax-resident in Georgia and he/she does work within Georgia to run a foreign business, Georgia does tax that income somehow. Exactly how and how much I don't know.
@stevenharrisnz
@stevenharrisnz 3 жыл бұрын
​@@randalltrainer9110 Thanks Randall. So if you're earning Foreign Income and Georgia is not taxing it, who taxes it?
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
@@stevenharrisnz That depends on your citizenship, your residence, and the countries where you have investments or business interests. If you are a US citizen or green-card holder, you must file and pay US income tax on your world-wide income of all types, regardless of where you are living. (This may or may not be subject to the IRS Foreign Earned Income Exclusion or double-taxation treaties with certain countries). If you are living in some countries, they may tax you on worldwide income. The countries where your investments or business interests are located may tax you. If you carefully choose your citizenship and places of residence (or tax residence) and countries of investment, you may not be subject to any income tax or capital gains tax, so long as you are not a US citizen. This is very complex and requires much knowledge of tax laws, but it is perfectly legal. For example, a non-American living in Georgia and investing in stocks of US companies on US exchanges owes no tax on their capital gains, but if the stocks pay dividends, the US will withhold tax on the dividends. If the companies are incorporated in Bermuda (like many shipping stocks), he would pay no tax on either dividends or capital gains, even though traded on a US exchange by a US brokerage.
@stevenharrisnz
@stevenharrisnz 3 жыл бұрын
@@randalltrainer9110 Excellent reply Randall, thanks. Curious about "digital nomads" who earn AUD, USD and Euro's online by providing location independent services. I assume that once an Australian citizen has legal tax residency in a country like Georgia, that person no longer needs to pay income tax to the Australian government (because they are a legal tax resident elsewhere) Is that correct?
@caseybachmeyer
@caseybachmeyer 3 жыл бұрын
do i have to stay then 183 days per year in georgia?
@lankstephens6374
@lankstephens6374 6 ай бұрын
She said you do not have to be a Georgian Tax Resident to be a private entrepreneur, but she did not elaborate. I think the 183 or more days = G Tax Res...
@MarcoAvezzano
@MarcoAvezzano 3 жыл бұрын
DOUBT - The 1% is for the local incomes, but what about the incomes generated with foreign clients?
@elchiapp
@elchiapp 3 жыл бұрын
Income arises where the work is performed, regardless of where your clients are.
@rubensnogueira5838
@rubensnogueira5838 3 жыл бұрын
If it's a territorial taxation country, foreign income should not be taxed... right?
@MarcoAvezzano
@MarcoAvezzano 3 жыл бұрын
No no @@elchiapp , it can make a huge difference (in Giorgia itself there are already differenciated taxations for local and foreign incomes for example for who is in a FTZ)
@MarcoAvezzano
@MarcoAvezzano 3 жыл бұрын
Uhm… @@rubensnogueira5838 , as far as I know there are some opportunities in Georgia to be taxed according to the territorial regime (like in the FTZs), but I’m not sure that any legal entity is eligible for it
@elchiapp
@elchiapp 3 жыл бұрын
@@MarcoAvezzano no it does not, Georgia's tax code is also in English and extremely well written. This is true anywhere by the way. Income arises where the services are provided. Doesn't matter if you're in a free trade zone or whatever.
@unobas8100
@unobas8100 3 жыл бұрын
this include also capital gain?
@scoobydoo3322
@scoobydoo3322 3 жыл бұрын
If i understand correctly, If i live in Canada or the U.S, & I register for this advantage in Georgia, i can benefit from reducing my tax burden? If i make 100k CAD or 100k USD (125k CAD approximately), And i am registered in Georgia as an entrepreneur, i can pay the Georgian tax rate without suffering from the Canadian or American tax brackets?
@supercontious
@supercontious 3 жыл бұрын
Georgia and Portugal are on my list , I will contact you in a couple of months
@AsAboveSoBelow111
@AsAboveSoBelow111 3 жыл бұрын
Great content, thank you!!
@madhusangala5376
@madhusangala5376 3 жыл бұрын
Can you please give list of activities that an entrepreneur can engage in.
@stevenharrisnz
@stevenharrisnz 3 жыл бұрын
How many months of the year do you have to be inside Georgia?
@TravisMoore
@TravisMoore 3 жыл бұрын
This is exactly what I was wondering
@Joseph.Gallardo
@Joseph.Gallardo 2 жыл бұрын
182 days +. It's all online guys.
@bernhardhoffmann530
@bernhardhoffmann530 3 жыл бұрын
What about trading forex or financial instruments?
@TheDenn0088
@TheDenn0088 3 жыл бұрын
What about capital gains from crypto? :)
@artursspiridonovs4771
@artursspiridonovs4771 3 жыл бұрын
Very nice video! Can it be done online?
@Wise101
@Wise101 3 жыл бұрын
About to take the midnight train to Georgia
@turtleneckandchain9918
@turtleneckandchain9918 3 жыл бұрын
The midnight train up Georgia’s tunnel.
@himpoet
@himpoet 3 жыл бұрын
@@turtleneckandchain9918, I see that watching this beautiful lady speak has inspired many in this comments section. ;-)
@VIDSTORAGE
@VIDSTORAGE 3 жыл бұрын
How much does an individual have to be worth to immigrate to Georgia ?
@ohkav
@ohkav 3 жыл бұрын
it's not how much you have it's how you earn. if you are a truck driver in USA, and move to Georgia to pay 1% tax, keep in mind your income will be funny to you, but if you e.g. plan to put like 1 mil USD in a bank savings account and live off that then yes it's a good idea, or if your work is done remotely than also a good idea because it's not just low tax, it's also cost of living. and you would be saving a lot .
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
@@ohkav is correct. I met an American retiree who has lived here 5 years on just his ordinary Social Security check, which is a lot more than most Georgians make working full time.
@wanderingdoc5075
@wanderingdoc5075 3 жыл бұрын
Hello, I'm a board-certified diagnostic radiologist. I'm curious if I can do this M.D. job in Georgia and pay 1% tax? I speak Russian if that matters but my medical training is obviously in English. Thanks!
@wanderingdoc5075
@wanderingdoc5075 3 жыл бұрын
@@fredsting9515 I intend to but I need some guidance. Can I really just pay a 1% tax?
@evilhairlessmonkey7700
@evilhairlessmonkey7700 3 жыл бұрын
If I had to chance to bailout I would take it. Since you got skills that can be used aboard., You should go for it.
@wanderingdoc5075
@wanderingdoc5075 3 жыл бұрын
@@evilhairlessmonkey7700 Yea I have my last 1.5 left of service. Have to do it in the US unfortunately. Have been abroad for many years. Then it's off to explore! Fortunate that I don't need the paycheck anymore. I'm a huge fan of the Georgian food and people :)
@ohkav
@ohkav 3 жыл бұрын
if you will have your own practice as an individual entrepreneur then YES, but if you will be an employee in some clinic no. (other rates apply)
@ohkav
@ohkav 3 жыл бұрын
p.s. medicine industry is stil heavily regulated so you need consult lawyers if you can have your own pracice for that specific job.
@merlinsreturn
@merlinsreturn 3 жыл бұрын
Hi Rusudan, I would be very interested in coming to Georgia, buying farmland to grow organic food crops, hire Georgians and export/sell produce that will provide food and foreign exchange revenue for Georgia. Does the government of Georgia give incentives like passive income/dividends for those who grow food crops on land they own like some of the South American countries are doing?
@kd6dash3dot7
@kd6dash3dot7 Жыл бұрын
Agriculture land is only available to citizens.
@SuperSnotgun
@SuperSnotgun 3 жыл бұрын
The guys heading to Georgia tryin to save on taxes are gonna spend their tax savings on rusudan
@samlashari81
@samlashari81 3 жыл бұрын
I have registered company in Georgia but based on that company, I had applied resident permit which was denied. Disappointed with the immigration authorities.
@azizsiddique1937
@azizsiddique1937 2 жыл бұрын
You turnover should have crossed Atleast 35k USD/ year to be eligible for residence permit, it doesn't work like you just open company and apply for permit
@ianbrown5955
@ianbrown5955 7 ай бұрын
So if a guy trades for a prop firm and makes his money trading as a small business, can he have his money put in a Georgian bank, pay taxes Georgian taxes, and live in another country?
@dlukton
@dlukton 3 жыл бұрын
Interesting.
@martinsanders6404
@martinsanders6404 3 жыл бұрын
“That every man who puts money into the hands of a "government" (so called), puts into its hands a sword which will be used against him, to extort more money from him, and also to keep him in subjection to its arbitrary will.” -Lysander Spooner
@jonesmatthew7511
@jonesmatthew7511 3 жыл бұрын
Thank you!
@kadirkartal5540
@kadirkartal5540 2 жыл бұрын
Although my English is not advanced, I understood what you said very easily because you speak English like a Turk.
@erikjanse3994
@erikjanse3994 3 жыл бұрын
What about wealth taxes or stock gains taxes in Georgia?
@robjohnson7878
@robjohnson7878 3 жыл бұрын
Unfortunately as a US citizen I am still obligated to pay all income taxes to the US unless I choose to give up my passport for another country.
@DomDoesVideo
@DomDoesVideo 3 жыл бұрын
Can anyone in the comments clarify if this would cover my capital gains and dividends?
@tutrasteros
@tutrasteros 3 жыл бұрын
Can a stocks trader either apply to this process by creating a 1 person stocks-investment company, or not that but even easier: personally investing his money? Would any of those cases be subject to that 1%? Thanks so much for clarifying. Best regards
@ohkav
@ohkav 3 жыл бұрын
stock trading is capital gains which is 0%
@DomDoesVideo
@DomDoesVideo 3 жыл бұрын
@@ohkav I stand confused whether capital gains is taxed at normal income tax rate or at a different percent. Would you be able to clarify?
@ohkav
@ohkav 3 жыл бұрын
@@DomDoesVideo normal income tax rate for LLC is 15% +5% divident tax. and capital gains is 0% tax for both LLC and individual
@watcher9997
@watcher9997 2 жыл бұрын
The program name is called "Remotely from Georgia".
@johnalmaz5867
@johnalmaz5867 3 жыл бұрын
Do you have to become a tax resident of Georgia?
@ohkav
@ohkav 3 жыл бұрын
yes
@rubensnogueira5838
@rubensnogueira5838 3 жыл бұрын
4:32 no, you don't
@tubekrake
@tubekrake 3 жыл бұрын
Do you have to collect VAT if you provide IT Services outside Georgia?
@mattball7074
@mattball7074 Жыл бұрын
Speak to an accountant or lawyer on this one. You basically have to live here to operate a local business & if so good bloody luck
@JoaoBaltasar-cj4yt
@JoaoBaltasar-cj4yt 2 ай бұрын
Hi, there is a minimum time that is mandatory to live in Georgia? It’s possible to provide investment consulting to foreign companies to apply to 1% tax? Thanks
@annastayziaa
@annastayziaa 2 жыл бұрын
I love seeing women on this channel!
@WolfofGolfStreet78
@WolfofGolfStreet78 3 жыл бұрын
Are there any golf courses in Georgia?
@ohkav
@ohkav 3 жыл бұрын
2 or 3.
@WrikSen
@WrikSen 3 жыл бұрын
There are some products like Indian fabrics, or even ready made products like Bags which can be exported from here in India, to abroad.. Ladies bags, other laptop bags, can find a good audience in Georgia, because of the new aesthetics.. Would it make sense to establish an import-export business in the country, and how to go about doing so??
@andyv8889
@andyv8889 3 жыл бұрын
You had me at hello. Now which country are we talking about?
@himpoet
@himpoet 3 жыл бұрын
An official link to this information would be useful.
@himpoet
@himpoet 3 жыл бұрын
So does this also mean I can just fly into Tbilisi, change my tax residency to be Georgian and leave, taking advantage of its other feature, the non-taxing of foreign income, and go back to perpetual traveling with a cool-sounding tax residency name? I didn’t think so... 😁
@himpoet
@himpoet 2 жыл бұрын
@I V a solicitor told me the 1% proposed here would not apply in my case.
@Joseph.Gallardo
@Joseph.Gallardo 2 жыл бұрын
The 182 days per year rule has to be followed as well. The rest of the year one could be traveling.
@stevenharrisnz
@stevenharrisnz 3 жыл бұрын
How is foreign income taxed?
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
Georgia does not normally tax foreign income. However, see my reply to Gerald Enright above.
@jesusgil9971
@jesusgil9971 3 жыл бұрын
god bless Georgia!
@svexee
@svexee 3 жыл бұрын
Do you have to live in Georgia for 12 months in a year to be able to benefit from this scheme?
@randalltrainer9110
@randalltrainer9110 3 жыл бұрын
Not at all. If you are on the ball, you can start benefiting a few days after you step off the plane, and leave whenever you wish.
@Joseph.Gallardo
@Joseph.Gallardo 2 жыл бұрын
182 days.
@adriansaw8329
@adriansaw8329 3 жыл бұрын
If one runs a fund that makes a few million per annum will the fund or the person be liable for capital gains tax?
@lankstephens6374
@lankstephens6374 6 ай бұрын
She needs to answer that!!! I thought Georgia has no capital gains tax, so we need clarification from her for sure!
@meditaciones_conectar
@meditaciones_conectar 10 ай бұрын
An airbnb address can be accepted for that?
@prakashbandekar4927
@prakashbandekar4927 3 жыл бұрын
But does this give a right to stay in georgia like temporary residency as you said we can go straight from the airport to register. If i open a eatery or cafe will this work.out.
@ptliang011
@ptliang011 3 жыл бұрын
Is that 1% per month or 1% per year?
@ssanonswu2010
@ssanonswu2010 3 жыл бұрын
how about the process of setting a Georgian limited company?
@emokekepiro2431
@emokekepiro2431 3 жыл бұрын
that is a good question! i would like to know too, i am registered in the UK and would rather move out from here :D
@ohkav
@ohkav 3 жыл бұрын
1 hour and i think 40$; don't remember exact amount but under 100$, if you give yourself salary, e.g. 1250$ you pay 250$ as tax, and get 1000$ in bank account. same % is paid if you opt to pay profit tax and dividend tax and take money out as dividend instead of salary. small and medium size bussiness does this ussualy as salary. but you may opt to put the money in some financial instruments in that case you will pay capital gains tax which is either 1% or 0%
@g50irene
@g50irene 3 жыл бұрын
@@ohkav Do you live in Georgia? I need some guidance to travel there and set up a company.
@saadaljabri3766
@saadaljabri3766 3 жыл бұрын
What do you mean lose the status? Or should I change to company type?
@maxboss2414
@maxboss2414 2 жыл бұрын
Great professional video, very good explanation. Do I need to live in Georgia after I sign up to continue being eligible? Does this program still exist?
@nomadcapitalist
@nomadcapitalist 2 жыл бұрын
This is for people who live in Georgia.
@maxboss2414
@maxboss2414 2 жыл бұрын
@@nomadcapitalist thank you for the quick reply. Living in Georgia means spending more that 6 months per year I. Georgia, correct?
@Joseph.Gallardo
@Joseph.Gallardo 2 жыл бұрын
@@maxboss2414 Yes. 182 days +.
@maxboss2414
@maxboss2414 2 жыл бұрын
@@Joseph.Gallardo and can I leave and still be in the program after that?
@falcon127
@falcon127 3 жыл бұрын
HOW ABOUT MY US SOCIAL SECURITY AND MY US MILITARY RETIREMENT!? I AM 66 YEARS OLD AND RETIRED!
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