Georgia – Cyprus | LABS – Life and Business Solutions

Georgia: special regime for HNWI

23.11.2020 | LABS

Georgia has a special regime for High Net Worth Individuals (HNWI). According to the Tax Code of Georgia, high-income individuals can obtain a certificate of tax residency in Georgia without having to stay in the country for 183 days or more and meet other criteria traditionally used in determining tax residency (e.g. center of vital interests). For this purpose HNWI are persons who own assets in the amount of more than 3 000 000 GEL (approximately 975 000 USD) or whose annual income for the last 3 years was more than 200 000 GEL per year (approximately 65 000 USD).

Special tax regimes – Georgia, Israel

01.06.2020 | Anastasia Mayakova LLB, LLM

When choosing a country for relocation and establishing tax residency, high-income businessmen are mainly guided by the requirement that there is should be no taxation of income received from abroad in such countries.

Special Economic Zones: UAE, Singapore, Malaysia, Georgia

14.03.2019 | LABS

Special economic zones (SEZ) are limited territories where the legislation on trade, taxes and business differs from the legislation on the rest territory of a country. SEZ are very popular all over the world and are created for different purposes and for different projects. For example, the Russian SEZ in Kaliningrad on Oktyabrsky Island and in Vladivostok on Russky Island were created for the purpose of returning large capital to Russia as part of the deoffshorization policy, and the Belarusian High-Tech Park was created to attract and retain IT businesses, including those related to blockchain and cryptocurrency.