{"id":8644,"date":"2021-09-22T14:06:52","date_gmt":"2021-09-22T14:06:52","guid":{"rendered":"https:\/\/devskey.com\/?p=8644"},"modified":"2024-10-20T19:05:54","modified_gmt":"2024-10-20T19:05:54","slug":"why-to-incorporate-pharmaceutical-production-unit-in-georgia","status":"publish","type":"post","link":"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/","title":{"rendered":"Why to Incorporate Pharmaceutical Production Unit in Georgia?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87_1 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents of this Post<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/#Why_start_a_production_business_in_Georgia\" >Why start a production business in Georgia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/#Georgian_Biofarma_Sector_Overview\" >Georgian Biofarma Sector Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/#Major_Benefits_for_incorporating_Pharmaceutical_production_business_in_Georgia\" >Major Benefits for incorporating Pharmaceutical production business in Georgia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/#Looking_for_incorporating_a_business_in_Georgia\" >Looking for incorporating a business in Georgia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/devskey.com\/de\/why-to-incorporate-pharmaceutical-production-unit-in-georgia\/#A_video_Summary_of_this_blog\" >A video Summary of this blog<\/a><\/li><\/ul><\/nav><\/div>\n\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"8644\" class=\"elementor elementor-8644\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6db4a7f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6db4a7f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7b17643\" data-id=\"7b17643\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6843faf elementor-widget elementor-widget-text-editor\" data-id=\"6843faf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Thinking of medical production but not sure which country suits your needs? This blog might be a perfect match for you then. Here you will discover something new and interesting. Have you ever heard of Georgia? The country in the middle of Europe and Asia? World Bank&#8217;s top country for easiness of doing business? The country which has free trade agreements with the EU, Turkey, Hong Kong, and many other countries and allows you access all these markets tax-free? It is a legit country not yet another offshore jurisdiction. If not, you are going to hear something interesting in this blog. Some of the benefits of incorporating a Pharmaceutical production unit in Georgia.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-27cc931 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"27cc931\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-521322a\" data-id=\"521322a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-de322b5 elementor-widget elementor-widget-text-editor\" data-id=\"de322b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Why_start_a_production_business_in_Georgia\"><\/span>Why start a production business in Georgia?<span class=\"ez-toc-section-end\"><\/span><\/h2><p>Not only\u00a0 Biopharma production, in general production in Georgia provides numerous benefits. The production sector is highly supported by the government. There are numerous manufacturing sectors and opportunities to start a business at the moment. There is a separate blog\u00a0 written by us,\u00a0 overviewing the <a href=\"https:\/\/devskey.com\/de\/where-to-start-manufacturing-business\/\">manufacturing business sector in Georgia,<\/a> you can refer to that for a more comprehensive understanding of the market, here is only the shortcut:<\/p><ul><li>Easy startup procedure<\/li><li>Law Tax Regime<\/li><li>Easy to import and export\u00a0<\/li><li>Law labor and utility costs<\/li><li>Strategic location<\/li><li>Free trade agreements with numerous countries open global export potential.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3bf15fe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3bf15fe\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-25cb9f9\" data-id=\"25cb9f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b79bac elementor-widget elementor-widget-text-editor\" data-id=\"7b79bac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Georgian_Biofarma_Sector_Overview\"><\/span>Georgian Biofarma Sector Overview<span class=\"ez-toc-section-end\"><\/span><\/h2><p>Pharmaceutical and Life Science Sector growing at a strong pace in Georgia and neighboring countries. Import of Pharmaceutical Products in the Caucasus amounted to 6.7 bln USD between 2016-2019, while Export of Pharmaceutical Products from Georgia amounted to only 0.6 bln USD. Besides, 70 Manufacturers and 1,367 Pharmaceutical Products are produced in Georgia, and over 13,000 employees in the sector. Over the last 5 years, the export of pharmaceuticals from Georgia has been increasing at\u00a0 21 % CAGR.<\/p><h3>Labour Availability<\/h3><p>Whilst Biofarma, medical production is the most saturated sector in Georgia, you can still find here some young talents. During the last five years, almost 28000 students graduated from science and welfare graduate studies. Now, to be highly transparent, you might have problems finding highly skilled professionals, since, again, Biofarma production is still a baby sector. On the other hand, being in a baby sector means big potential for development.\u00a0<\/p><h3>Free Trade Agreement with Numerous Countries<\/h3><p>Georgia is the only country in the region with Free Trade Agreements with the European Union, EFTA, Turkey, Ukraine, China (including Hong- Kong), and CIS providing excellent opportunities for exporting products from Georgia to 2.3 billion consumer markets without Customs Duty, according to the <a href=\"https:\/\/investingeorgia.org\/en\/keysectors\/manufacturing\">national investment promotion agency.<\/a><\/p><h3>The best Taxation\u00a0 country for Medical Production Business\u00a0<\/h3><p>Business and tax friendliness is one major benefit. For a <a href=\"https:\/\/devskey.com\/de\/taxation-in-georgia-made-simple\/\">simplified taxation, guide refer to this post<\/a>.\u00a0 One major benefit is that Reinvested profit is free from profit tax, personal Income Tax is one of the lowest in the world, at 20%.\u00a0 \u00a080% of goods are free from import tariffs in Georgia. Most importantly, NO EXPORT TAX applies. Georgia also offers four Free Industrial Zones (FIZ) \u2013 where a company producing goods for export is exempt from all taxes except (personal<\/p><h3>\u00a0<\/h3><h3>Major Operators &#8211; Competition overview for Biofarma Sector<\/h3><p>Some of the <a href=\"http:\/\/tradewithgeorgia.com\/companies\/biochimpharm-1\">major companies<\/a> operating in the Biofarma sector in the market are listed below. There are not many. Even the local market is not yet saturated. Medical production in Georgia gives you the opportunity to access and satisfy internal as well as global demand.<\/p><p>1. <strong>BioChimPharm<\/strong> &#8211;\u00a0 product portfolio includes solutions used for treatment and prevention of diseases caused by harmful (pathogenic) bacteria. The company mainly operates in two, Human and Animal Health, industries producing therapeutic OTCs (over-the-counter drugs) and dietary supplements.<\/p><p>2.\u00a0 <strong>CLEANTECH LTD<\/strong> &#8211; Incorporated in 2003, busy with the production of professional disinfectants, detergents, and hygiene products. Products are sold both in Georgia and abroad (Azerbaijan, Armenia). In addition, the company imports products of the world&#8217;s leading brands in the production of professional detergents and hygiene products, such as Diversey , Duni, Bayer, Eermop and IPC.<\/p><p>3. <strong>Biosyo<\/strong> &#8211; company kicked off in 2018 with the government&#8217;s strong support. It is Georgian natural skin and hair care: shampoos, soaps, and creams. Our product-based aloe vera and does not contain any chemical supplements.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b376c46 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b376c46\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ede0f66\" data-id=\"ede0f66\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-87ca4db elementor-widget elementor-widget-text-editor\" data-id=\"87ca4db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Major_Benefits_for_incorporating_Pharmaceutical_production_business_in_Georgia\"><\/span>Major Benefits for incorporating Pharmaceutical production business in Georgia<span class=\"ez-toc-section-end\"><\/span><\/h2><h3>Low Utility Costs<\/h3><p>The vast majority of power is generated via hydro and wind power plants, leading to greener and cheaper energy. 1 kWh of high voltage electricity costs about 7 USD cents.\u00a0\u00a0<\/p><h3>Easiness of Starting\u00a0 a production business and doing Business<\/h3><p>Again, the easiness of starting procedure. The startup procedure takes less than three months. This includes incorporating and acquiring a relevant license. All depending on the procedure it may take less time frame too. Three months is absolutely the maximum time that you will need to start producing Pharmaceuticals. Easiness of Doing Business, in particular, simple import and export procedures, lack of beurocracy is another benefit for Biopharma production. If you think about where to incorporate the Biopharma production unit, this is probably one of the most important factors to take into account. How easily you can import raw materials and how easily you can export. remember, all the above-described benefits of starting a manufacturing business in Georgia applies to medical production too.<\/p><h3>International Recognition<\/h3><p>High quality of data accepted and validated by FDA inspection. Apart from that, Georgian Products approved by EMA, CIS, and MENA regulatory bodies<\/p><h3>Manufacturing Support Programs<\/h3><p>Georgia offers a number of incentives and co-investment opportunities to companies interested in developing manufacturing facilities in Georgia. <a href=\"https:\/\/acci.gr\/wp-content\/uploads\/2022\/02\/FDIGrantprogram_F641084599.pdf\"><strong>FDI Grant program<\/strong><\/a> offers cashback for costs incurred for staff training and infrastructure upgrade. \u201cProduce in Georgia\u201d program is devised to support Industrial manufacturing through a variety of financial and technical support mechanisms, including co-financing of the interest rates on the commercial loans, Collateral Guarantee co-financing, and transfer of state property (both land and building) into the private ownership for a symbolic price of GEL 1.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cbe3e34 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbe3e34\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d1ffbb3\" data-id=\"d1ffbb3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8a90d0f elementor-widget elementor-widget-text-editor\" data-id=\"8a90d0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Looking_for_incorporating_a_business_in_Georgia\"><\/span>Looking for incorporating a business in Georgia?<span class=\"ez-toc-section-end\"><\/span><\/h2><p>Make sure you contact us for the comprehensive, most convenient, faster, and most importantly reasonable services. Make your best choice when it comes to incorporating a business in Georgia. We offer you the simple company registration procedure in Georgia. Our incorporation or company formation agents will not only help you to incorporate your Georgian LLC, but also will advise and guide you through the whole business operation journey.\u00a0 Doing business is easier with us, local professionals.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-440c61c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"440c61c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dd9fa02\" data-id=\"dd9fa02\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0f25aa4 elementor-widget elementor-widget-heading\" data-id=\"0f25aa4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span class=\"ez-toc-section\" id=\"A_video_Summary_of_this_blog\"><\/span>A video Summary of this blog<span class=\"ez-toc-section-end\"><\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7b188d elementor-widget elementor-widget-video\" data-id=\"f7b188d\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/www.youtube.com\\\/watch?v=qqXVWD-hsNY&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-66a34a6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"66a34a6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fe35ca4\" data-id=\"fe35ca4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f81018c elementor-widget elementor-widget-text-editor\" data-id=\"f81018c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Need to start your own business? <a href=\"https:\/\/devskey.com\/de\/contact-us\/\">Contact us!<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Thinking of medical production but not sure which country suits your needs? This blog might be a perfect match for you then. Here you will discover something new and interesting. Have you ever heard of Georgia? The country in the middle of Europe and Asia? World Bank&#8217;s top country for easiness of doing business? The 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