Estonia vs Georgia
Georgia is £318 cheaper in year 1 and £60 a year cheaper after that.
| EstoniaPrivate limited company (OÜ)Start with 1Office | GeorgiaLLC | |
|---|---|---|
| Costs | ||
| Minimum, year 1 | £443 | £125 |
| Minimum, per year after | £130 | £70 |
| Typical year 1 | £1,548 | £1,278 |
| Government fee | £228€265 state fee | £55GEL 200 (next day) |
| Indirect setup | £85–380 | £0–860 |
| Running per year | £130–2,045 | £70–1,515 |
| Share capital | €0.01 | None |
| Rules | ||
| Directors | No local directorA local contact person is required if run from abroad. | No local directorYou need a Georgian legal address. |
| Remote setup | Fully remoteFully online with e-Residency. One trip to collect the card. | Through a providerRemote with an apostilled power of attorney. |
| Audit | No audit below size thresholds | No audit for small companies |
| Time to form | 1 to 3 days | 1 to 3 days |
| Ease for foreign owners | 5/5 | 4/5 |
| Tax and banking | ||
| Corporation tax | 0% / 22%0% on profit kept, 22% when paid out. | 0% / 15%0% on profit kept, 15% when paid out. |
| Dividend withholding | None | 5% |
| VAT / GST | 24% | 18% |
| Banking | 3/5LHV and Swedbank are selective. Wise and Revolut are common. | 3/5TBC and Bank of Georgia usually want a visit. |
| All company setup fees in EstoniaUse 1OfficeAd | All company setup fees in Georgia | |
Questions
Is Estonia cheaper than Georgia for company setup?
No. Georgia is cheaper, at least £125 in year 1 against £443 for Estonia.
Which is cheaper to run each year?
Georgia, at least £70 a year against £130 for Estonia.
Which needs a local director?
Neither. You can run a company in either without a local director.
Which is faster to set up?
About the same. Both take 1 to 3 days.
How does corporation tax compare?
Estonia: 0% on profit kept, 22% when paid out. Georgia: 0% on profit kept, 15% when paid out.
Sources: Estonian Business Register · PwC · EY · NAPR · ExpatHub · Gegidze