EFS Group Georgia

Starting or running a business in Georgia? Accounting can be complex - but it doesn’t have to be.

At EFS Group, we’ve already supported 500+ businesses to stay compliant, avoid penalties, and focus on growth. Our services cover:

✅ Bookkeeping for IEs, SBS, LLCs, and foreign branches
✅ Tax compliance and timely declarations
✅ Financial reporting and analysis

Learn more about how we make accounting simple for your business:

Accounting Services in Georgia (country) | EFS Group Expert accounting solutions for Small businesses, LLCs, Virtual Zone companies and Internation Status Companies in Georgia (country).

How Georgian Businesses Can Easily Receive Payments from International Clients 👇

As an accountant working with foreign entrepreneurs in Georgia, I've seen firsthand the hurdles they face with traditional banking. Opening and maintaining accounts for LLCs and IEs can be a nightmare, making it tough to attract international clients.

That's why Wise (formerly Transferwise) is such a game-changer.

Why Wise?

Effortless Setup: Takes around 2 working days and only need business registration document.
Cost-Effective: Save big on fees and inflated exchange rates compared to traditional banks.
Global Reach: Welcome clients from around the world with multi-currency capabilities.
Fast & Flexible: Receive payments quickly and manage your funds with ease.

Important Note: While Wise is fantastic for receiving international payments, it won't help you pay Georgian taxes. But don't worry! There is a solution for that.

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If you have friends or colleagues who are also foreigners in Georgia ♻️ Repost it to help them stay on top of their taxes too! and follow EFS Group Georgia for more.

Easy steps to Avoid Missing Tax Payments on Georgia's RS Portal

Unfortunately, the Revenue Service system has a quirk that can cause serious problems for foreigners: it often struggles to connect payments with the correct tax ID if that ID is linked to a passport number rather than a Georgian identification number. This can lead to payments being misapplied or even disappearing entirely, resulting in potential penalties.

Don't Panic, There's a Solution

The good news is there are ways to avoid this frustrating situation. Here are the key steps:

Make sure your tax ID is indicated: When paying taxes to the government treasury, ensure your tax ID is mentioned in the transfer details. The best way is to indicate that you are paying on a third/other person's behalf. Most common banks in Georgia (TBC, BOG, etc.) have that option. Then the bank system will ask for the full name and Georgian Tax ID.

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If you have friends or colleagues who are also foreigners in Georgia ♻️ Repost it to help them stay on top of their taxes too! and follow EFS Group Georgia

LinkedIn article by our team👇

As someone who works closely with foreign business owners in Georgia, I understand the banking hurdles they face. Receiving international transfers to Georgian LLC & IE accounts is a major pain point.

Today's article reveals one of the best solutions I've seen for this problem, trusted by numerous foreign companies.

If you also work with foreign clients in Georgia, I'd love to hear about your experiences with international payments. Let's share solutions and insights!

Wise EFS Group Georgia

https://www.linkedin.com/pulse/how-georgian-businesses-can-easily-receive-payments-daghelishvili-132rc/?trackingId=wLTtnZXZSuCqa3NXd9Mczw%3D%3D

🇬🇪 If you're living in Georgia, this post is for you! 💼

Did you know about RS.ge? 📋 It's your go-to platform for all things related to taxes and customs in Georgia. 🛃

Register to access services like requesting tax residency certificates and checking import taxes hassle-free! 📈

შემოსავლების სამსახური Revenue Service