According to the World Bank research (source: http://www.economy.ge/en/media/news/according-to-quotdoing-business-2014-georgias-rating-was-improved) by its simple proceedings of starting business, Georgia is ranked on tier 8 among 189 countries. This speaks about the fact that starting business in Georgia is simplified and can be done in very short period of time. Georgia passed a long way through forming successful business environment. Strong institutes and stable legislative atmosphere was created. International Organizations, local experts and Georgian entrepreneurs share the same position regarding significant improvement of the business environment over the past few years.

Tendency of positive development of business environment is caused by legislative reforms, that ensured facilitation and simplification of the financial and procedural barriers determined for establishment of an enterprise. Georgian preference system delivers significant advantages to Business, this results export of over 9000 products (out of which 7200 products have zero rate) with the adjusted and facilitated terms to around 35 sport of the world. (source is only available in Georgian Language: http://www.nplg.gov.ge/gsdl/cgi-bin/library.exe?e=d-01000-00—off-0ekonomik–00-1–0-10-0–0-0—0prompt-10–..-4—-4—0-1l–11-en-10—10-help-50–00-3-1-00-0-00-11-1-1utfZz-8-00-0-11-1-0utfZz-8-10&cl=CL4.2&d=HASH6519caad6bbf4e8f4bb051.7&x=1).

Great importance is given to direct foreign investments and their attraction, for the above Country has determined liberal investment atmosphere and equal terms for both local and foreign investments. All the aforementioned makes Georgia attractive to foreign investors. Another significant factor for foreign investors to starting business in Georgia is a stable economic development and free market economical politics.

Pursuant to the amendments made in Tax code of Georgia, only 6 taxes are left, along with the decreased rates, few of the licenses and allowances, simple administrative procedures, preference trade regime, advantageous geographical location towards many countries of the world, educated, qualified and competitive labor force and many other factors. For to low rates of 3/6 taxes, Georgia was rated on tier 4.

According to the forecast made by European Bank for Reconstruction and Development, Growth in Georgia is expected to improve to 3.4 per cent in 2016, compared with 2.8 per cent in 2015.

It is definitely worth to mentioned that, pursuant to World Economic Forum’s Global Competitiveness ranking, out of 140 countries Georgia takes following tier for the following ranking subjects:

• Total Tax Rate – 9
• Number of Procedures required to start a business – 3
• Time required to start a business 2

(source: http://reports.weforum.org/global-competitiveness-report-2015-2016/competitiveness-rankings/)

Georgia has Double Taxation Avoidance Treaties with 52 countries.