Investing Across Borders 2010... Print
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.

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