Why should you open gambling business in Georgia?
Thinking about business opportunities in the Georgia gambling business is for sure on the list. If you consider opening an LLC but you are not sure what to do opening a gambling company may be a good business idea for you. When we talk about the gambling industry with the famous cities Las-Vegas, Malta, Monaco, etc., we should mention Georgia too… It is pretty attractive for investors to start a gambling business in Georgia. reasons for such position around the world are conditioned by a few restrictions on the gambling market. In this article, I will represent to you how the company can get a license, taxes, and legislation too. Gambling is a well-developed industry here and a significant contributor to the country’s economy. Income from gambling duties also represents an important part of the revenues of many cities and municipalities. Therefore many strive nowadays to open companies and businesses here.
How to open your own Business in Georgia?
To open a company in Georgia is pretty simple and easy. Importantly, It takes just a few hours from you, obviously if you are well prepared. Surely, We have few blogs on the topics, and you can jump using these hyperlinks. Seemingly, Here we try to make It easy for you. However, if you feel overwhelmed, and want to save time and energy, even money feel free to book our assistance. If you are not sure of which legal form to chose, opening LLC is most common here. Besides, Foreigners open LLC business in Georgia or Individual Entrepreneurship, depending on their goals. Not sure what legal form to pick to start a business in Georgia?
After opening a company you need to register as a VAT payer with the tax authority. Whenever you open a company in Tbilisi or any other part of Georgia you are obliged to meet Georgian Tax and Accounting Obligations. No matter what kind of business you start.
To start running a land-based gambling business, one needs a corresponding license. Most importantly, Today Georgia issues several types of such permits:
- for a casino
- slot machine parlo
- incentive drawing.
Steps to open gambling business in Georgia
Step 1: Setup an LLC
Number one step for acquiring the online-casino organiser or general gambling business license in Georgia, you need to have an operating company. Most commonly. people are establishing an LLC for this reason in Georgia.
Step 2: Collect Documents required for the license
Documents needed to obtain the license are submitted to the revenue authority. Moreover, The list of documents is different for each type of gambling activity. Hereby, Some of the main documents are:
- excerpt from the document about business registration;
- list of card games and slot machines offered by the company and their rules;
- for the casino license: police clearance certificate of owners and executives;
- layouts of chips and/or tickets, etc.
A standalone permit issued for each type of the gambling activity. Also, If the entrepreneur decides to open, for example, a casino and a betting shop, he has to get two licenses. The application considered within 20 days. However, if the organiser wants to get it quicker, he will have to pay from 400 to 2,000 GEL ($147-735) and the period for issuing will shorten to 1-10 days.
Step 3: Apply for the license
Application is free of charge if you are OK to wait for 20 days, as mentioned above. Once you you have incorporated a Georgian company and collected documents required, you are then able to apply foe the online-casino organiser or any other type of license in the Ministry of Finance of Georgia. That is the authority that grants you the license.
Make sure you read this blog thoroughly and understand the taxation and fees before you get your license, though and If you need the help for the procedure here we are to support you, for the details of the offer feel free to contact us.
How to get a gambling license in Georgia?
variety of authorities in Georgia encourage tourism and facilitate the development of the gambling industry and attracts visitors from many other countries. After you open company you can request a license from starting a gambling business. gambling licenses are issued by the Revenue Service where you should have submitted the following documents:
- first, checklist of provided services (slot machines, games etc.)
- second, excerpt from the register of enterprises
- third, gambling fee payment receipt
- and, police clearance certificates of business owners
inspection is conducted by Ministry Of Finance Of Georgia. The gambling business in Georgia is governed by the following legislation:
- one, law on licenses and permits
- another, law on licenses and permit annual fees
- also, law on lotteries, gambling and profitable arrangement
- and, law about gaming business fee
Taxation for Gambling Business in Georgia
In Georgia, compulsory gambling tax payments fall into several types. the sum of taxes depends on the location of a casino or such other destinations. If you are interested in taxation in Georgia, here we tried to make it as simple as possible gambling business owners pay :
- first, annual tax levy
- second, quarterly tax
- third, current taxes .
Note that, The Georgian government has created numerous tax exemptions for the gambling industry in certain parts of the country. That’s why starting this kind of company in Georgia became attractive last year. Many more foreigners are looking for opening their business exactly in Georgia each hear. For example, to start a casino, a company has to pay an annual fee of ₾5 million, but in Batumi, Gudauri, Bakuriani, Borjomi and other places, the fee is twenty times less – only ₾250,000.
profit tax exempt:
Why is gamlbing in Georgia so attractive? Because of reduced tax burden! distribution of profits from the activities of the gambling club , gambling salon, bookmaker (other than profits from system-electronically organized games)
exempted from use of cash register:
importantly, gambling club, slot machine salon,as well as bookmaker- in this part of the activity,excerpt for the activities carried out in the system of electronic games.
What kind of permits are issued in Georgian gambling business
What are the different activities which you can start in Georgia related to gambling? through the checklist you see the legitimate kind of gambling businesses allowed by law:
- slot machine arrangement
- casino arrangement
- gambling club arrangement
- bookmaker arrangement
- lotto arrangement
- bingo arrangement
- an encouraging raffle arrangement
- slot machine salon arrangement
Annual Fees for Gambling Businesses
hereby, I will give you information on what the annual fee is and according to territories, of course. Besides, in this article, I’ll mention about 3 main cities of Georgia and in case of interest for further more information, you can ask via our contact zone any time you want.
1)slot machine arrangement
first, around Tbilisi, it’s – 100 000 – 1 000 000 GELper year
Second, around Batumi, it’s – 200 000 GEL per year
third, around Kutaisi, it’s – 200 000 GEL per year
2) casino arrangement
on the whole, per year it compounds 5 000 000 Gell .hereby, cities are divided and the amount of money is different too.
3)gambling club arrangement
first, around Tbilisi, it compounds between 10 000 – 50 000 Gell per year
second, around Batumi – 30 000 GEL per year
third, around Kutaisi – 30 000 GEL per year
first, around Tbilisi – 200 000 GEL
second, around Batumi – 80 000 GEL
third, around Kutaisi – 80 000 GEL
5)lotto/bingo/an encouraging raffle arrangement
around one year it compounds – 15 000 GEL
the quarterly fee is depended on the number of slot machines, casino tables
Conditions of gambling arrangement
- firstly, In case of slot machines arrangement, there should be mentioned about term and place of gamblings , checklist of slot machines , the rules of ongoing gamblings and rules of acting
- secondly, In case of casino arrangement, there should be mentioned about term and place of holding gamblings , checklist of slot machines and the rules of games
- then, In case of gambling club arrangement, there should be mentioned about list of gambling tables in club, the rules of functionality and the rules of games
- And, In case of lotto/bingo/bookmaker and an encouraging raffle arrangement, there should be mentioned the following:
- holding date end place of the winning games
- place, date and expiry date of winning the winning game
- amounts of tickets and numeration
- general rules of the game
To conclude , gambling is the most profitable industry in the region. the industry is growing because it has support from the government- the authorities of Georgia focus on tourism and especially, gambling tourism. there are 92 gambling company where from 32 is classified as a large company.
Acquire Gambling License easily with our assistance
Should you need help with starting a business in Georgia and getting any type of permits here we are to help and assist you. hereby, Feel free to contact us and you will benefit from:
- first of all, Time Saving
- Second of all, Energy Saving
Most importantly, We do provide all in one assistance before and after company establishment. You simply do not need to take care of anything.
How to operate Online Casino in Georgia?
There is not separate license for electronic Gambling Organization in Georgia. To start Electronic Gambling business you need to get license either for a casino arangement
or the permission to arrange a salon for slot machines.
As for slot salon arangement – As for license permit fee, it depends on the region. I suppose, if your main intention is to organize electronic gambling, you do not really care about theregion where your company is registered. For Tbilisi license fee is 1 000 000 GEL versus other Regions where It is 100 000.
For casino arrangement – license in Tbilisi 5 000 000 GEL, other regions 250 000 GEL.
tax for for system-electronic games is – 30,000 GEL per quarter;