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Meeting... PDF Print E-mail
Friday, 23 July 2010 16:20

Commercial attache of France Mr. Daniel Patat was on a visit to International Investors Association of Georgia. Caucasus coordinator of French Businessmen council was engaged in the visit as well. The meeting was introductory. The chairman of Association Mr. Cemal Bilgingulluoglu informed the guest about the association structure, main goals, visions and priorities. Guests became interested in Association’s activities after the meeting with the government of Adjara. They were satisfied with the businessmen’ successful activities in Adjara region and with an advantage investment environment.

 
Georgian International Investors Association Trustee Board Meeting… PDF Print E-mail
Thursday, 22 July 2010 16:48

On July 22, 2010 was held next meeting of Georgian International Investors Association Trustee Board. On the meeting were discussed issues concerning financial situation of the association and was checked financial statements. Head of the Trustee Board Mr. Levan Shervashidze and member Ilker Dindar expressed their own views on how to carry out association financial position and implement jobs more successfully.

 
Investing Across Borders 2010... PDF Print E-mail
Friday, 16 July 2010 16:32

Based on a new report by the World Bank “Investing Across Borders 2010”, Georgia is one of the most opened countries for direct foreign investments among 87 countries in the world. Based on all indicators of mentioned research of World Bank, Georgia is fully opened for foreign capital and there are not any restrictions to foreign companies. Only 4 procedures and 4 days is enough to establish the business and LTDs in Georgia. Foreign company does not need any additional documents or permissions that it represents the subsidiary company of existed company in foreign country. Company is able to sign in the necessary documents for registration in “online” regime and receive the identification number. The companies are able to establish bank accounts in foreign currency. There is no any demand of existence of minimal foreign capital for local companies as well as for foreign companies. The establishment of business in Georgia can be done in less than a week. Based on mentioned research, it is necessary 33 days to establish the business in Poland, in Russia-31 days, in Greece-22 days, in Bulgaira-20 days, Armenia-18 days, Turkey 8 days. More than 6 months is necessary to begin the business in Angola (263 days) and Haiti (212 days). According to the law adopted in 2008, the registration issues concerning the possession of land has been significantly simplified and accelerated. Only 1 week is necessary to hold land under lease in Georgia while the mentioned procedure needs 5 months in Poland. The land of government’s property is possible to lease in 50 days while in Bulgaria it continues almost 1 year (352 days). Investing Across Borders 2010aims to help countries develop more competitive business environments by identifying good practices in investment policy design and implementation. It provides indicators examining sector-specific restrictions on foreign equity ownership, the process of starting a foreign business, access to industrial land, and commercial arbitration regimes in 87 countries.

See statistic...

 

 
Tariffs and Fees for Services provided by Revenue Service PDF Print E-mail
Friday, 16 July 2010 14:46

Tariffs and Fees for Services provided by Revenue Service
Georgian Government Resolution No96
March 30, 2010


No

Type of Service

Service Term

Tariff for Service  (Including VAT)

1

To issue license for gambling games

20 working days
10 working days
5 working days
1 working days

Free
150 Gel
300 Gel
1 000 Gel

2

Private Tax Agent service

 

6 Month

 

2 000 Gel

3

To issue hasten notification  on residency status insured by property

 

More than 2 working days

2 working days

 

Free

 

30 Gel

4

To issue note about Tax payer’s bank accounts

More than 3 working days
3 working days
1 working days

Free

10 Gel
20  Gel

5

For getting monthly declaration and its enclosures copies  for 3 month time period from archive

1 month
10 working days
2 working days

Free
50 Gel
150  Gel

6

For getting monthly declaration and its enclosures copies for 3 to 6 month period from archive

1 month
10 working days
2 working days

Free
100 Gel
250  Gel

7

For getting monthly declaration and its enclosures copies for 6 month to 1 year time period from archive

1 month
10 working days
2 working days

Free
150 Gel
350  Gel

8

For getting monthly declarations copies from archive for more than 1 year time period

1 month
10 working days
2 working days

Free
250 Gel
500 Gel

9

For getting yearly declaration copy for 1 reporting year form the archive

1 month
10 working days
2 working days

Free
50 Gel
150  Gel

10

Non planned tax examination initiated by tax payer

 

For persons less than 1 000 000 yearly turnover _ 10 000 Gel; In case of more than
1 000 000- yearly turnover­ _ 30 000 Gel

11

To issue hasten permission on custom warehouse activity, free warehouse activity, non custom trade point activity

20 Working Days

10 Working Days

Free

On every 1 square meter 0.1 Gel, but not less than 100 Gel; reservoir 1 cubic meter 0.05 Gel,  but not less than 100 Gel;

12

To issue certificate of Origin

In more than 2 working days
2 Working Days
4–8 Hours
1–3 Hours

Free

40 Gel
100 Gel
150 Gel

13

In case of postal order, to do all custom clearance and deliver to the point named by receiver

 

 

1 kg-1Gel, but not less than 30 Gel

14

 

In case of automobile, to do all custom clearance and deliver to the point named by receiver

 

 

500 Gel

15

To issue certificate for the ship setting free from sanitary control/Conducting ship sanitary control

1 Working Day

More than 1 working day

400 Gel

200 GEL

16

To issue certificate for means of transport  For transporting goods With `TIR~ note

4 Hours
1 day
More than 1 day

400  GEL
300 GEL
200  GEL

17

In order to make custom clearance for Excisable alcoholic beverages relocated  as postal order (including beer) and deliver to the point named by receiver

 

Ten times more amount than excise rate but not less than 10 GEL

18

For National Commodity Nomenclature of Foreign Economic Activity 8701, 8702, 8703, 8704, 8705 and 8711 codes of motor vehicles(Engine volume more than 50 sm3) to continue submission date for custom declaration In order to make custom clearance (Not more than 45 calendar days, without placing temporarily in custom warehouse)

 

Not more than 5 calendar days _ for each calendar day 20 GEL;
More than 5 calendar days _ 100GEL + for each calendar day 10 GEL

19

Preliminary conclusion of Tax organ concerning using Tax code

More than 10 working Days

 

 

10 Working Days

 

 

 

Equity more than 1 000 000 GEL and/or more than 10 000 000 GEL yearly Turnover;
For the others _ 5000 GEL.
Equity more than 1 000 000 GEL and/or more than 10 000 000 GEL yearly Turnover _ 30 000 GEL;
For the others_
15 000 GEL

20

If Revenue Service Representative takes part in making act on cutting off inventory holdings

 

5% of balance value, not less than 300 and not more than 1 000 GEL.~.

 
The Georgian Chamber of Commerce and Industry resumed issuance of the certificate of origin... PDF Print E-mail
Friday, 09 July 2010 16:16

According to a joint order of the Minister of Finance of Georgia and the Minister of Economic Development of Georgia №890-№1-1/2978 as of December 30, 2009, the Georgian Chamber of Commerce and Industry was granted the right to resume issuance of the certificate of origin of goods.

If, prior to August 1, 2008 the Chamber only issued CT-1 certificate of origin of goods, the mentioned order entitled it to additionally issue three more certificates:

  1. Non-preferential certificate of origin;
  2. Preferential certificate of origin – form A;
  3. Preferential certificate of origin – EUR 1.

The Chamber has a many years' experience in issuance of certificates, which is a guarantee that our service will be prompt, high-quality and significantly preferential.

The period of issuance of the certificate by the Chamber, as well as the service charge (including VAT), will be determined in the following way:

-          if issuance of the certificate will take more than 2 working days – free of charge;

-          2 days – 20 GEL;

-          4-8 hours – 50 GEL;

-          1-3 hours – 75 GEL.

 
Georgian Oil and Gas Corporation plans the construction of oil refine factory in Georgia ... PDF Print E-mail
Wednesday, 07 July 2010 17:32

Georgian Oil and Gas Corporation plans the construction of oil refine factory in Georgia. The corporation has announced the expression of interest within the planning-construction of oil refine factory. Consultant has to study the technical and economical opportunities of oil refine complex’s construction, which has to satisfy the financing demands of international financial institutions. Particularly, market analysis, determination of supply opportunities, determination of produced petroleum volume, estimation of profit and expenditure, the analysis of alternative decisions, risk analysis, development of Business plan and financial model, the estimation of infrastructure and service concerning the project, conceptual planning. Technical-economical substantiation prepared by consultant has to present the information about the estimation of possible influence of project on geographical environment, subscribe of legislative limitations and regulations and the enough information for forming of the tender documentation for further detailed projecting and construction.

 

Based on the information of Georgian Oil and Gas Corporation, oil refine factory of Georgia does not work currently properly, country depends completely on imported oil products. Increasing demand on oil commodities on local and regional market and development of infrastructure creates the basis for existence of oil refine complex. The delivery of proposal will be able till 15 July.

 
Meeting with Export Promotion Service ... PDF Print E-mail
Saturday, 03 July 2010 14:09

On July 2nd of current year in office of International Investors Association was held meeting between exporters and head coordinator of Export promotion Service of the national investment agency Mr. Mikheil Kobaladze, commercial attaché of European Union representation Ms. Virginia Kosoul, The German Technical Support Society representative Mrs. Aleksandra Operman and Alexander Revia. At the meeting were attending Commercial attaché Of Turkish republic in Batumi Volkan Berker, Chairman deputy of International Investors Association Cezmi Akshahin, Chairman of Trustee Board Mr. Levan Shervashidze, The head of Certification and licensing department of Finance and Economic Ministry, trustee from Ministry of Agriculture, 32 exporters and mass media representatives.

At the meeting were presented presentations of Export Promotion Service and trade relationships between Georgia and European Union by Commercial attaché of European Union.

Timely solution of all issues of the meeting raised by exporters will lead to easier work and growth of export volume.

Export Promotion Service in nearest future will put in motion new trade web-portal and export info center due to promote making contacts between local entrepreneurs and foreign buyers.

 
Vera Kobalia will administer the Ministry of Economy and Steady Development... PDF Print E-mail
Tuesday, 06 July 2010 13:17

The Prime-Minister of Georgia Nika Gilauri introduced the new Minister of Economy and Steady Development – Vera Kobalia to the employees on July 3. Nika Gilauri expressed his hope that Vera Kobalia will be the Minister who will successfully run the Ministry for many years. The Prime-Minister noted that the country has great achievements in terms of economic development but there are still two serious problems – inflow of investments and the pace of privatization processes. “These are the two mainstream directions of the Ministry of Economy and Steady Development and this will be the main objective of the newly appointed Minister,” – Gilauri said. The Prime-Minister wished luck to the new Minister and also talked about her path – Kobalia worked abroad; she comes from the private sector and understands the investment issues well. This will help her to enlarge the business sector in the county and accelerate the privatization process. The Prime-Minister also thanked the former Minister of Economy for his work. The newly appointed Minister of Economy and Steady Development Vera Kobalia said that there is a lot to be done in a short period of time so it is important to work actively: “If we want to be tourists in our own country, we can do nothing and let the occupants rule our country, but I am sure that we don’t want this. We are hardworking people; my colleagues and I will even work on weekends to improve Georgian economy, strengthen small business, and introduce many investors and tourists to our country. I shall speak about the improvement of the economy until every single person has a normal life” – Vera Kobalia said. The Minister named employment as her number one priority but also talked about the importance of developing agriculture in order for the production not only to be exported abroad but also take its significant place on the local market. Attracting investments is also very important; the investors should be offered programs worked out beforehand. The Ministry must accelerate privatization processes and develop tourism. Vera Kobalia was born on August 24, 1981 in Sokhumi. She moved to Canada after the war in Sokhumi where she spent last 15 years. Vera Kobalia worked on managing positions in Canadian business-companies and different nongovernmental organizations. She returned to Georgia in February, 2010 and became the leader of “Coalition for Justice” organization. The new Minister of Economy and Steady Development names employment, development of tourism and small business as her number one priorities. The President of Georgia Mikheil Saakashvili talked about the changes in the government structure in June 26 and the Prime-Minister introduced the new government team on a plenary sitting on July 2. The main priority of the new team will be defeating poverty. The government of Georgia expressed its trust to the new program.

 
Information... PDF Print E-mail
Thursday, 01 July 2010 13:02

New commercial attaché Volkan Berker started to attend his duties at general consulate of Turkish Republic in Batumi. On June 29 of current year was held meeting with Volkan Berker attended by International Investors Association Chairman Deputy Cezmi Akshahin and General Secretary Tamaz Shavadze. This meeting was an acquaintance with each other. International Investors Association congratulates commercial attaché Mr. Volkan Berker on starting work on new position and wishes success to develop deeper relationships between two countries.

 
An agreement between the Ministry and Broking Companies was signed in order to accelerate the privatization process... PDF Print E-mail
Wednesday, 23 June 2010 12:44

An agreement between the Ministry of Economic Development and Real Estates Companies was signed in order to accelerate the privatization process of the state properties. The Deputy Minister Grigol Gobejishvili was the one to sign the agreement from the Ministry’s side. The agreement was signed with seven broking companies, particularly: ind. entrepreneur “Rusudan Meifariani” (realtor,)   ind. entrepreneur “Mariam Khutsishvili,” LTD “Privateservice,” LTD “Real Estate Service,” non-profit legal entity “Association of Real Estates of Georgia,” LTD “Buruka” and LTD “Erdo.” According to the announcement of the head of State Propery management and Privatization Department Giorgi Bakradze, the agreement is very important because it implies the participation of broking companies in the privatization process. All this will make these processes more efficient. “In case if the private companies find potential clients or investors for the privatization items, individual agreements will be made between the Ministry and the representatives of these companies,” – Bakradze said.

 
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