A total of 21,326 Russian companies have been registered in Georgia since the start of the war in Ukraine, reads the Report on Georgia’s Economic Dependence on Russia published by International Transparency – Georgia.
“In the first six months of 2023, 6,539 Russian companies registered in Georgia, and a total of 21,326 companies have been registered since the start of the war in Ukraine. Since March 2022, the number of Russian companies registered in Georgia has tripled compared to the period from 1995 to 2021.
In 2022-2023, 95% of the registered companies are sole proprietors, indicating that a part of Russian citizens moved to Georgia to live and do business for a long time”, reads the report.
According to the report, the settlement of Russian migrants in Georgia led to a significant increase in remittances. In 6 months of 2023, remittances from Russia to Georgia increased by 50% and amounted to 1.1 billion USD; In January-June 2023, remittances transferred from Russia accounted for 47.5% of the overall total remittance amount.