How Foreigners Can Pay 1% Tax in Georgia

I'll open a post being a pig, as I do. She's very doable. I'm not exactly opening my pockets, but doable

Okay, that said...

Who's coming to Georgia with me?


Now that the fun is over, what's the catch? There's always a catch o.o

Can't be bothered to watch the video, but don't earn enough, you won't pay any taxes

Easy.

I have some friends who have fast loan companies in Georgia, they said it's pretty complicated to have a company there.

Other banks will limit your transactions and cause a lot of problems just because they will not trust you.

Plan to head there one day, women are insane I set my Tinder there to explore Tbilisi ha.

UninvitedSoul said:

Can't be bothered to watch the video, but don't earn enough, you won't pay any taxes

Easy.

Click to expand...

Well sure, you can earn $0 and not worry about it.

Then again, you can also starve to death.

Choices, choices we make

lucky.sparks said:

I have some friends who have fast loan companies in Georgia, they said it's pretty complicated to have a company there.

Other banks will limit your transactions and cause a lot of problems just because they will not trust you.

Click to expand...

I didn't exactly watch the video super closely, but I thought this isn't a company thing. You're just sort of an entepreneur/freelancer/private.. person.

What do you need a bank for? Between suckpal and Payoneer and Transferwise and Perfectmoney and Crypto and Webmoney and Payeer and and and and.. you don't really need a regular bank.

You're gonna ask how to get cash in your hands without the bank. Use your Payoneer or Paysera or whatever card (mastercard, visa, etc). And you can also have a bank account, but don't funnel too much money through it, that way your transactions say few and small, and you don't raise any flags, and probably no one will try to bend you over a table without lube... fucking banks...

James2774 said:

Plan to head there one day, women are insane I set my Tinder there to explore Tbilisi ha.

Click to expand...

Hm. Ok fair enough, good luck buddy

Individuals with annual turnover of less than 30,000 Georgian lari (GEL), no employees, and who register as a micro business will be exempt from tax on their business income.

Individual entrepreneurs with annual turnover of less than GEL 500,000 may register as a small business and pay 1% tax on their turnover. The rate increases to 3% if annual turnover will exceed GEL 500,000.

500,000 GEL = $160,000 / 135,000 EUR

Source: https://taxsummaries.pwc.com/georgia/individual/taxes-on-personal-income

You don’t need a Georgian bank.

Keep your money in whatever back you use now, set up your company bank anywhere you like.
Is just kerp my US LLC, then you can withdraw cash as needed. Honestly youl be mostly using a card anyway so who cares?

Scorpion Ghost said:

I didn't exactly watch the video super closely, but I thought this isn't a company thing. You're just sort of an entepreneur/freelancer/private.. person.

What do you need a bank for? Between suckpal and Payoneer and Transferwise and Perfectmoney and Crypto and Webmoney and Payeer and and and and.. you don't really need a regular bank.

You're gonna ask how to get cash in your hands without the bank. Use your Payoneer or Paysera or whatever card (mastercard, visa, etc). And you can also have a bank account, but don't funnel too much money through it, that way your transactions say few and small, and you don't raise any flags, and probably no one will try to bend you over a table without lube... fucking banks...

Click to expand...

Some countries need you to have a local bank to operate or open a company(to be an entrepreneur).

Hard to say as I did not dive into this subject deep enough back then.

I just know there are downsides to do business from Georgia.

TomTheCat said:

Individuals with annual turnover of less than 30,000 Georgian lari (GEL), no employees, and who register as a micro business will be exempt from tax on their business income.

Individual entrepreneurs with annual turnover of less than GEL 500,000 may register as a small business and pay 1% tax on their turnover. The rate increases to 3% if annual turnover will exceed GEL 500,000.

500,000 GEL = $160,000 / 135,000 EUR

Source: https://taxsummaries.pwc.com/georgia/individual/taxes-on-personal-income

Click to expand...

Sounds good to me. I'll pay 1%.

Or maybe I make 29,000 GEL per year only and pay 0% tax.

All sounds good however, one has to wonder what other money you'll have to spend on this. Because they do that hidden fee shit all day.

Like, yeah, you pay 1% tax. Oh but you also have to have an accountant on payroll, about $100 per month. Oh and you also have to have a lawyer, another $100 per month. Oh but you also of course have to pay pension and healthcare insurace, another $100 per month. Oh and there's a form you must submit monthly, about $50 per month. Oh and of course you also need to take it up the ass once per month, $100 per month. Oh of course you have to pay a fee for the environment, to protect the environment, $100 per month. Oh and... FUCK YOU, DROP DEAD!!!

Anyway, sounds good on the surface to me. Definitely something to keep in mind if push comes to shove

You forgot about an office/virtual office, rent where to stay 6 or 9 months, and everything to avoid double taxation. Oh, and gave you Like because of the movie. A very good one!

Also, I think we all should learn from Jeff -> reinvest our profits! -> pay 0 taxes.

TomTheCat said:

You forgot about an office/virtual office, rent where to stay 6 or 9 months, and everything to avoid double taxation. Oh, and gave you Like because of the movie. A very good one!

Also, I think we all should learn from Jeff -> reinvest our profits! -> pay 0 taxes.

Click to expand...

The office is wherever I'm sitting son! hahahaha

Yeah well rent, it's a given. Better rent in Georgia than rent in Expensive City First World Place, right?

Great fucking movie. One of my favorites foooor sure.

Jeff.. bezos? This guy?