Activities requiring a license or permit, except for activities related to M1 Private Taxi Permits moving around the capital city of Georgia;

Activities requiring significant capital investment (production of excisable goods);

Conducting currency exchange operations;

Medical, architectural, legal or notarial, auditing, consulting (including taxation) activities;

Gambling business;

Staffing;

Production of excisable goods.

After exceeding the allowed turnover of 500,000 GEL (approximately 178 thousand US dollars) in the first year, the turnover tax rate will increase to 3%.

If the limit is exceeded in the second year, you automatically lose your small business status, and your tax rate becomes 20%.

Under Georgian law, there are no requirements for a financial institution through which an individual Georgian entrepreneur with small business status will make financial payments in fiat currencies. Therefore, practically any bank or payment system will do.

The list of countries, where financial institutions are considered undesirable for small business status in Georgia: