Georgia Overview
Georgia is a sovereign state in the Caucasus region of Eurasia. Located at the strategically important crossroads where Asia meets Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the southwest by Turkey, to the south by Armenia. The country maintains a good relation with most of its direct neighbors.
Georgia covers a territory of 69,700km² and its population is almost 4.7 million with its capital, Tbilisi located in the South east of the country. Georgia is a unitary, semi-presidential republic, with the government elected through a representative democracy. It is a democratic semi-presidential republic, with the President as the head of state, and Prime Minister as the head of government. There is also a growing U.S. and European Union influence in Georgia, notably through proposed EU and NATO membership, meaning Georgia’s young and energetic government are actively seeking and supporting direct foreign investment.
Georgia ranks 12th out of 183 economies on the World Bank’s Ease of Doing Business Index ahead of most European countries and just below Canada which ranks 7th. Georgia is a member of the World Trade Organization, a signatory to the International Convention for the Settlement of Investment Disputes and is 68th on Transparency Internationals Corruption Index (ahead of Brazil, Colombia and Peru).
Corporate tax in Georgia is 15% and a royalty on resource depletion is levied at 0.9 Georgian Lari (GEL) per gram of gold which equates to approximately 1.4%.