A one-person entrepreneurial company
A one-person entrepreneurial company: A limited liability company or a joint-stock company may be established by one person.
If, after registration of a limited liability company or a joint-stock company all equities/shares are transferred into the ownership of one partner, such a company shall become a one-person entrepreneurial company. In case of a limited liability company, the appropriate information and identity details of the partner must be recorded in the Registry of Entrepreneurs and Non-entrepreneurial (Non-commercial) Legal Persons, and in case of a joint-stock company, the appropriate information and identity details of the partner must be recorded in the share registry and must be publicly available.
If an entrepreneurial company (limited liability company) has a sole partner, he/she shall exercise powers of a general meeting. A decision made within such powers shall be documented in writing.
An agreement between an entrepreneurial company (limited liability company) and its sole partner must be concluded in writing, except when an agreement is concluded within the scope of regular activity.
Registration of A one-person entrepreneurial company – limited liability company (LLC) in Georgia
A one-person entrepreneurial company shall be registered on the same manner as a limited liability company (LLC) by the National Agency of Public Registry, under public law within the Ministry of Justice of Georgia (‘the registration authority’).
A one-person entrepreneurial company (LLC) or (JSC) will be deemed established upon registration with the Entrepreneurial Registry. The existence of the (LLC) shall be verified by an extract from the Entrepreneurial Registry. The registration of a (LLC) or (JSC) in Georgia shall imply both state and tax registration. The registration decision of the registration authority shall take effect upon officially providing notice to the concerned party of the decision or upon publication of the decision. A decision shall be deemed published when it has been placed on the website of the registration authority.
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