Innovative Startup
📌 Eligibility Criteria for Obtaining Status
The status of an Innovative Startup may be granted to an entity that meets the following requirements:
a)💡Develops an innovative product, process or service.
b) Has obtained during the past two years:
- At least 🪙 GEL100,000 in investment attracted from an Investment Fund, an Angel Investors Network (or one of its members), or an Accelerator; or
- At least 🚀 GEL 150,000 in grant funded from LEPL Georgia’s Innovation and Technology Agency.
c) 🎯 Carries out the activities outlined in the application and funded by the investment.
d) ⚠️ Has no outstanding tax liabilities, is not listed in the debt registry and is not subject to insolvency or liquidation proceedings.
📌 Duration of the Status:
- The status is granted for an ⏰ one-year term.
- The term may be ✅ extended for a further one-year period.
- ⏳ The status can be maintained continuously for up to ten years.
🚀 Support Mechanism:
1) Years I-III - ✅ Personal Income Tax - 0%;
2) Years IV-VI - ✅ Personal Income Tax - 5%; ✅ Corporate Income Tax - 5%;
3) Years VII-X - ✅ Personal Income Tax - 10%; ✅ Corporate Income Tax - 10%.
⚠️ Please note: In the case of documents prepared in a language other than Georgian, both the original and a notarized Georgian translation must be submitted.
Application for obtaining the Status shall be submitted exclusively in the Georgian language though, accordingly, the application form and all associated submission documents are available only in the Georgian language.
ℹ️ For more detailed information regarding the Innovative Startup Status, please refer to the files in the “Document” module.