Key facts

Capital – Tbilisi
Population – 4.1 million
Area – 69,700 square kilometres (equivalent to that of the Benelux countries)
National currency – Lari (GEL)
Religion – predominantly Orthodox Christian
Official language  Georgian, and Georgian and Abkhaz in the Autonomous Republic of Abkhazia
Credit rating
  • Fitch – BB-, with stable outlook (April 2016)
  • Moody’s – Ba3, with stable outlook (March 2016)
FDI (2015)
  • ~1,6 Billion USD
  • ~10% of GDP
Rapidly growing per capita (GDP)


Source: IMF
Average real GDP growth over 2003-2014
Source: IMF

Doing business

Ease of doing Business (2017)
Source: World Bank
Impressive development in ease of doing business
*The World Bank Doing Business altered its methodology in 2016, thus the historical numbers are based on the former methodology Source: World Bank
Business bribery risk
Source: Trace International
Low level of corruption
Source: Transparency International
Total tax rate (% of profit)
Source: World Bank
Simple tax code
  • No payroll, capital gains or wealth tax
  • No restrictions on currency convertibility or repatriation of capital and profits
  • Opportunity to use accelerated depreciation on capital assets (including full deduction during first year) and loss carry forward for corporate profit tax purposes (10 years)
  • As of 1 January 2017, the corporate tax will only be applied to distributed profit
  • Generation and export activities are exempt from VAT
  • Double taxation avoidance agreements with 52 countries. Source

Only six flat taxes

Corporate Profit Tax


Value Added Tax (VAT)


Personal Income Tax


Import Tax

0%, 5% and 12%

Property Tax (the only local tax)

Up to 1%

Excise Tax

On a few selected goods

For more information about Georgia, see Invest in Georgia

Political orientation

Georgia has been a strong driver of reform over the last decade and there is a broad consensus on the policy direction among the main political parties, with a pro-reform government and population. Focus on developing a liberal market economy, approximation to the EU and membership of NATO.

Georgia signed the EU Association Agreement in 2014 opening up tariff free access to the EU market for Georgian products. In 2017, Georgian citizens are expected to be allowed to travel to the Schengen area without a visa. Georgia is a member of WTO, has ratified the Energy Charter Treaty and signed the New York Convention.

Peaceful democratic governance since 2004. The United National Movement won parliamentary elections in 2004 and 2008, and presidential elections the same years. Georgian Dream won parliamentary elections in 2012 and 2016 and the 2013 presidential election. Peaceful transition of power between the main political blocks in Georgia.

Georgia aspires to become a member of NATO. However, the country has not joined the sanctions against Russia imposed by European countries in order to maintain the close trade and interpersonal relationship with Russia. Almost one million tourists from Russia visited Georgia in 2015.



New York Convention
Georgia USA NATO



The country has a large unexploited potential for hydropower production estimated to be at least 40 TWh.

Georgia is currently dependent on gas-fired power production to meet its growing electricity demand; hence the government has a very positive approach to foreign direct investments within the renewable energy field. Several successful projects have already been completed including the 87 MW Paravani project and the 108 MW Dariali project. Investments of more than 2 billion USD are planned in green field power projects including the 1 billion USD 280 MW Nenskra project in North-western Georgia developed by K-Water from Korea.


% developed hydro potential
Source: World Energy Council, 2007



Growing tourist destination with almost 6 million foreign arrivals in 2015, with a CAGR of 27% since 2006. According to Numbeo’s Crime Rate Index, Georgia has the sixth lowest crime rate in the world.

Key attractions include

  • the modern beach and casino town Batumi
  • the capital city Tbilisi, with its mix of medieval, classical, Soviet and modern architecture
  • visiting ancient ruins, in the second country in the world to be Christianized
  • hiking trip in the highlands
  • wine tasting in the country that invented wine
  • skiing in the Caucasus

Growing number visitors
cagr 27%
Source: Ministry of Internal Affairs of Georgia