How to open an Individual Entrepreneur in Georgia: step-by-step

Introduction

Setting up as an individual entrepreneur in Georgia is a common and often straightforward choice for those managing rental properties, offering services, or running a small business. This guide walks you through practical steps from choosing the right form to first reporting, with specific notes for real estate buyers and investors.

1. Why choose individual entrepreneur (IE)? ✅

• Simpler registration and bookkeeping compared to some corporate structures.
• Convenient for individuals earning rental income or providing local services.
• Useful when operations are small and you prefer less administrative overhead.

Tip: write down your business activities — renting apartments, renovation, property management — and evaluate whether IE covers your needs and risks.

2. IE vs company: make the right choice 🤔

• An IE often suits simple, low-risk activities.
• Forming a company can be better for liability protection, partners, or scaling the business.

Example: for one or two rental units in Batumi, IE may be enough. For a larger portfolio or if you want to separate personal assets, consider a corporate entity.

3. Documents and address to prepare 🗂️

• Have your ID (passport), contact details and a local address ready. Foreign nationals may use a local agent or representative if needed.
• If registering remotely, prepare notarized powers of attorney if required.

Advice: ensure the legal address you provide complies with local rules and that you can receive official correspondence there.

4. Registration process 📋

• Registration is typically done through the national public registry or an official online portal. The workflow is generally clear but may require local language support.
• You will select activity codes used for tax purposes during registration.

Practical advice: keep copies of all documents and receipts — banks and tax offices often request them.

5. Tax regime and bookkeeping 📊

• Georgia offers tax regimes aimed at small businesses; choose one that fits your expected revenue and activity type. Discuss options with a tax advisor if unsure.
• Start bookkeeping from day one: tracking income and expenses simplifies compliance and decision-making.

Example tip: if your operations are limited in volume and frequency, simplified schemes are often more convenient, but specifics depend on your model.

6. Banking and payments 💳

• Open a business bank account in the name of your IE to accept rent and pay suppliers. Look for banks with strong online banking and international transfer support.
• Keep personal and business accounts separate for transparency and cleaner accounting.

Investor note: choose a bank that supports multi-currency operations if you expect foreign tenants or international payments.

7. Permits, licenses and insurance 📑

• Depending on your activities (tourist rentals, construction, food services), additional permits may be required.
• Consider liability and property insurance to protect against tenant claims or property damage.

8. Practical tips for foreigners and investors 🌍

• Foreigners typically can register businesses in Georgia, but check residency, tax residency rules and banking requirements in advance.
• For owning and managing property, evaluate the ownership structure that best fits your investment goals and risk tolerance.

Tip: consult a local lawyer for questions on double taxation and cross-border income.

9. Common mistakes and good practices ⚠️

• Mistake: mixing personal and business finances. Keep separate accounts and clear records.
• Mistake: neglecting formal management agreements for rental properties.
• Good practice: use clear contracts with tenants, document repairs and expenses, and keep digital records.

Conclusion and how BuyHome can help 🧭

Registering an individual entrepreneur in Georgia can be a practical solution for many real estate activities. If you need help choosing the right structure, registering your business, or finding the right property, BuyHome supports you at every step. Start your property search at https://buyhome.ge/en or contact our team for tailored advice.

Feel free to reach out — we’ll help you pick the best property and business structure without pressure.