Georgia or ..... what?

noshowNew MemberAuthor

Joined: Jul 2019
Messages: 4

12 Aug 2019#1

Hello all

I have been having a great time reading on the forums for the last week or so, but just seem to be going around and around in circles.

Every time I start to zero in on a place, I seem to then find several negative experiences or thoughts and/or it does not quite fit my expectations.

I actually thought Georgia may be a good option in regards to purchasing a freezone company and bank account setup but then the forum started to talk about Banking issues etc....so, I am either looking for an Agent that can help allay my concerns or if not Georgia, something that mirrors it's tax rates, privacy, ease of residency and is still close to Europe?

I apologise in advance if I am asking too much....

myhandRecognized Voice

Joined: Nov 2012
Messages: 1,078

12 Aug 2019#2

Welcome :)

The beauty of this forum is different opinions for a thread. It can get confusing for noobs or someone new to all of this.

Georgia seems indeed to be a great place taxvise as well as in matters of privacy. The problem that I have seen is that they slowly change the regulations there because of presure from the rest of the world. What I also have seen is that people opening bank accounts have used some sort of people over there to help them. The help includes YOU as account owner to sign a power of attorney which actually allow them to act on your behalf. The problem is that you will never be the real signee for the account so you will never rest assured to have full control! That's a problem if you have money there.

Beside that if you can find a trustworthy law firm in Georgia, not one of them that have their office in Pizza Hut, then you should be fine to go that route. Personally it was impossible for me to find such a law firm so far.

noshowNew MemberAuthor

Joined: Jul 2019
Messages: 4

12 Aug 2019#3

Hello khan and thankyou for your reply.

I would be happy to travel across personally and open an account if that is what it takes. I presume then, that the issue of a power of attorney over the bank account should not arise. Saying that, a nominee Director would come in handy as well as a way to open an Adsense Account with some anonymity.....It does seem that the world is becoming a much smaller place and opportunity's for making a buck seem to be shrinking....

JohnLockeOffshoreCorpTalk owner

Joined: Dec 2008
Messages: 15,888

13 Aug 2019#4

The major problem with Georgia is that no one so far has been able to point at a trusted law firm nor can confirm the bank account opening is possible in Georgia or anywhere else.

I have been in touch with a few of the guys from the forum who claim to be able to help. The outcome is horrible not a single solution so far.

noshowNew MemberAuthor

Joined: Jul 2019
Messages: 4

13 Aug 2019#5

Hi Admin, are we talking about opening a bank account in person in Georgia or trying to do it remotely, from offshore via an agent?

myhandRecognized Voice

Joined: Nov 2012
Messages: 1,078

13 Aug 2019#6

Admin said:
The major problem with Georgia is that no one so far has been able to point at a trusted law firm nor can confirm the bank account opening is possible in Georgia or anywhere else.

I agree, totally failed to find some reliable agent or law firm in Georgia. It requires personal visit to the bank which I read from other threads here on OCT. So maybe it's worth to book a flight and try to get a picture of all of it by my self.

noshowNew MemberAuthor

Joined: Jul 2019
Messages: 4

14 Aug 2019#7

I may well have to look at that option.

BluepearlNew Member

Joined: Oct 2016
Messages: 36

20 Aug 2019#8

I can easily confirm perfect services from law company I already mentioned before. They are trustworthy and efficient.
We are working together for 3 tears now and not a single mistake happened. Yes, Georgia is not remote friendly jurisdiction but has other advantages. Still, banks are not trustworthy if business is outside

Georgia or ..... what?

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