- a) on the basis of power of attorney
- b) with the physical presence of the founders
A firm (company) can be registered on the basis of a power of attorney, without the founders being in Georgia.
Physical presence of the founders means their presence on the territory of Georgia. In this case, any kind of reservation between the partners can be clarified faster.
In both cases, the documents must be prepared in advance. It is desirable to provide information in advance on what will be established, a branch, a representative office or an independent company. The documents required for this differ depending on the residency of the entrepreneurial entity.
Selection of the legal form of the company
We take into account the field of activity, scale, reservations between partners, plans to attract investors and founders, category of customers. Based on this, we will select the legal form and let you know which form has what advantages for realizing your goals.
- in the case of an individual entrepreneur – “individual entrepreneur”;
- in the case of a Joint liability company – “joint Liability company”;
- in the case of a Limited partnership – “Limited partnership” or “Commandite Company”
- in the case of a Limited liability partnership – “Limited Liability Company” or “Ltd”; LLC;
- in the case of a Joint-stock company – “joint-stock company” or “JSC”;
- in the case of a Cooperative – “cooperative” or “coop.”
Compilation of founding documents (documents)
Founding agreement, articles of association, partnership agreement.
When establishing a company, the legislation provides for the necessity of having 2 documents.
In order to establish an entrepreneurial society, it is necessary to have (1) the founding agreement (Part 1 of Article 4 of the Law on Entrepreneurs), as well as a document that must be submitted to the registration authority (2) the statute, which is contained in the founding agreement itself (Article 5, Paragraph 1 of the Law on Entrepreneurs part).
The third document that can be signed between the partners is the partnership agreement, although it is not binding. If a partnership agreement is concluded between the partners, information about this should be specified in the articles of association.
According to the requirements of the partners, the written execution of the agreement between the partners, the explanation of the agreement, the review of the prepared documents for legislative purposes.
If there is a single founder of the company, some kind of template founding documents can be created, such as “Memorandum of Incorporation” and “Articles of Association”. But, if you are going to distribute shares in the future or if the company has at least two founders, in this case it is better to approach the drafting of the founding documents individually and take into account the requirements of the partners, both to each other and to the executive ring of the company with the leader(s).
Requirements of the founders to the management of the company
The requirements of the founders of the company should be taken into account with the company’s managers. Of course, when a company has one founder, this person is also the head. In other cases, the founder’s requirements to the managers, as well as the rights and duties, must be presented.
Service with legal address and correspondence with government structures
For company registration, it is necessary to have a legal address in the territory of Georgia. The legal address is used for the transmission of correspondence of state structures and written correspondence of other persons. We register the legal address and also ensure the transfer of correspondence to the legal address to the company’s management and founders.
service fee:
- 1 hour – 170 GEL.
- If there will be at least 4 hours of work, 1 hour will cost 160 GEL. The minimum reimbursable amount is 640 GEL.
