Tbilisi Free Industrial Zone (FIZ) is Georgia’s most business-friendly, low-tax regime designed to attract international startups, including blockchain and crypto ventures. It operates under a distinct legal and tax framework from mainland Georgia and is typically positioned as an offshore-oriented structure. In practice, many setups are used to serve non-Georgia markets, supported by external banking/PSP arrangements.

• 0% corporate income tax (commonly positioned for foreign-sourced activity)
• No VAT (per FIZ regime structuring)
• No minimum capital requirement
• Fast timeline: typically ~2–3 weeks (readiness dependent)

• Tax efficiency for international-facing operations (structure dependent)
• Lower operational overhead vs fully regulated regimes
• Legal address model is commonly used (substance expectations may vary by partners)
• Simple annual renewals (DD refresh + address / admin updates)

• Crypto exchange services (crypto-to-crypto / crypto-to-fiat model depending on counterparties)
• Custody and wallet services
• Token offerings (ICO / ITO / IEO) and related project operations
• Mining / infrastructure operations
• International payment / remittance processing (typically via external rails)

1. Company formation (≈ 5–7 days): FIZ LLC setup, KYC for UBO/directors, activity description
2. License application (≈ 1–2 weeks): authority review of corporate docs, ownership, basic business plan
3. Approval & activation: license issued and operations can begin (partner onboarding may take longer)

• Annual due diligence refresh on UBO/directors
• Legal address renewal and admin maintenance
• Renewal fees to keep the license active

Note: Even where local supervision is light, banking/PSP partners often impose their own compliance and substance expectations.

• 0% corporate income tax (commonly marketed for foreign-sourced income; structure dependent)
• 0% VAT for cross-border positioning (confirm specifics for the exact FIZ setup)
• Dividend tax may apply upon distribution (structure dependent)

FIZ companies often rely on EU/offshore banking or PSP rails for fiat processing. A common pattern is:

• Georgia FIZ LLC (crypto operations)
• EU / offshore payment agent entity as fiat gateway (e.g., LT/CY/BG depending on model)
• Merchant / banking accounts for inbound-outbound fiat flows

• Regulator: Mainland (NBG/FMS) vs FIZ authority
• Compliance load: Full AML/audit/reporting vs lighter local regime (partners may add requirements)
• Tax posture: Mainland standard taxation vs FIZ tax incentives
• Substance: Local director/office vs legal address model (partner dependent)
• Timeline: ~3–4 months vs ~2–3 weeks

Disclaimer: This note is for planning purposes only and is not legal or tax advice. Always verify the latest FIZ authority requirements and any banking/PSP partner policies before execution.