Innovative startups in Georgia will benefit from significant tax incentives, including complete exemption from income tax for the first three years, Prime Minister Irakli Kobakhidze announced during a recent government meeting, describing the initiative as an unprecedented move to attract international investments.
“Startups developing high-tech and innovative products will enjoy a unique 10-year tax incentive,” Kobakhidze stated. “For the first three years, they will pay 0% income tax, allowing them to reinvest their earnings and accelerate growth.”
The Prime Minister first introduced the initiative on March 19 last year, during the 10th anniversary event of the Georgian Innovation and Technology Agency (GITA), promising fast legislative action. However, he did not specify when the program would take effect.
The initiative aims to position Georgia as a leading innovation hub. “This policy will not only encourage the creation of new startups, but also attract global innovators, increase investment, generate jobs, and provide strong tax support mechanisms for small and medium-sized enterprises engaged in innovation,” Kobakhidze pointed out.
