The status of "Virtual Zone" is a special tax status that can be granted to certain types of companies operating in the IT sector. Tax incentives apply only to services/goods provided to foreign (outside Georgia) non-resident clients.
If you receive income from the activities of a Georgian business (legal entity) related to software development, including SaaS (Software as a Service / Subscription Based Software), and your business provides these products/services to non-Georgian companies or individuals who do not are residents of Georgia, you are eligible for Virtual Zone status and access to benefits such as 0% corporate income tax and 0% VAT.
In theory, general IT consulting, internet marketing, e-commerce, cryptocurrency, and other IT-related services could someday qualify. But today, it is extremely unlikely that an application based on these types of businesses will actually get an approved virtual zone status, unless you can show that the main component in the business is based on software and development (i.e. you sell / license e-commerce or internet marketing software).
Having the tax status of a Virtual Zone means that you receive a number of benefits, including exemption from various types of taxes.