Venezuela
Georgia
Very few Venezuelan founders choose Georgia, and it is better to say so at the start. There is no tax treaty, no direct trade corridor and no visa-free entry. Georgian law will still register a company owned by a Venezuelan in a day, with no capital.
This page is for two readers: the Venezuelan resident weighing a foreign company, and the Venezuelan diaspora founder already living elsewhere. For the first, one Venezuelan rule decides almost everything.
Who this page is for
| You are | What decides your case |
|---|---|
| A Venezuelan tax resident | Worldwide taxation, the international fiscal transparency regime, dollar access, sanctions on the payment chain |
| A Venezuelan living and taxed elsewhere | The rules of your country of residence; Venezuela matters mainly for documents |
What Georgia asks
- One shareholder and one director, both of whom can be Venezuelan.
- No minimum capital for a limited liability company.
- An apostilled power of attorney, with a Georgian translation: both countries apply the Apostille Convention.
- A legal address in Georgia.
The steps are in how to register a company in Georgia.
3 questions
Which jurisdiction fits you?Answer three questions and get the three jurisdictions that match your situation.
The transparency regime: the decisive rule
A Venezuelan resident is taxed on income of any origin. On top of that, the international fiscal transparency regime taxes income from investments in low tax jurisdictions as it accrues, even if nothing is distributed, and requires an annual informative return.
Which jurisdictions are low tax is set by SENIAT ruling SNAT/2004/0232.
| Test in the ruling | Wording | Georgia |
|---|---|---|
| General test, Article 1 | Tax is nil or at a rate equal to or below 20% | A Georgian company that reinvests bears nil tax |
| Named list, Article 2 | About 80 jurisdictions | Not checked for this page |
| Treaty exclusion, Article 3 | A treaty partner exchanging information is never low tax | Not available: no treaty |
- 1Is there a treaty with exchange of information?No treaty between Georgia and Venezuela
- 2Is the tax nil or 20% or less?Nil on reinvested profit; 15% of a grossed-up base on distribution
- 3ResultThe transparency regime is likely to apply: income taxed in Venezuela as it accrues
- 4PlusAn annual informative return on the investment
Our reading is that a Georgian company owned by a Venezuelan resident is very likely to fall under the regime. The ruling dates from 2004 and the law's articles have been renumbered since; have a Venezuelan adviser confirm before investing.
No tax treaty
| From Georgia to Venezuela | Georgian tax | Treaty relief |
|---|---|---|
| Company profit when distributed | 15% of the grossed-up base | None |
| Dividend | 5% withholding | None |
| Interest or royalty | 5% withholding | None |
| Services rendered in Georgia | 10% withholding | None |
Any credit for Georgian tax in Venezuela is unilateral. The Georgian side is in the corporate tax guide.
Dollars and sanctions
Exchange control. Exchange Agreement No. 1 of 21 August 2018 restored free convertibility.
- Moving capital abroad is lawful, with no authorisation regime found for outward investment.
- Buying dollars through the banking system depends on supply on the day.
- Foreign currency payments through the national system are reported to carry a 3% tax.
- Funds already held abroad avoid these constraints.
US sanctions. The programme targets the Venezuelan state and listed persons, not Venezuelans as such. Its effect on a Georgian company is through the payment chain:
- Dollar transfers clear through US correspondents, which apply the rules.
- General License 57 of 14 April 2026 authorises financial services for four state banks, without unblocking property.
- Georgian banks run their own sanctions screening and may ask more questions about Venezuelan banks in the chain.
- Rules change often. Recheck on the day you move money.
The Georgian bank process is in the business bank account guide.
Travelling to Georgia
Venezuelan citizens need a visa for Georgia. What the available sources say:
- Where to apply: a Georgian embassy or consulate.
- E-visa: reported as not available by some agencies.
- Stay length: a 30-day single-entry visa is often cited; confirm with the consulate.
- Passport: valid for six months beyond the planned stay.
The bottom line
For a Venezuelan resident, a Georgian company rarely makes sense: without a treaty, it is likely to be a low tax investment under the transparency regime, taxed in Venezuela as profit accrues, and the dollar route runs through sanctions-screened banks. For a Venezuelan founder living and taxed elsewhere, Georgia works like it does for anyone else, judged by the rules of the country of residence.
corpsec registers the Georgian company and provides its registered office. See the Georgia formation service, or read why founders choose Georgia, and who should not.
Frequently asked questions
Can a Venezuelan open a company in Georgia?
Yes. Georgia allows a single foreign shareholder and director, with no minimum capital, and apostilled documents are accepted since both countries apply the convention.
Is there a tax treaty between Georgia and Venezuela?
No. Venezuela is not on Georgia's list of 58 treaties in force.
Is Georgia a low tax jurisdiction for Venezuelan tax purposes?
On our reading of ruling SNAT/2004/0232, very likely: a Georgian company that reinvests bears nil tax, and the exclusion for treaty partners cannot apply. Confirm with a Venezuelan adviser.
Can I send dollars from Venezuela to fund a Georgian company?
Moving capital abroad is lawful since 2018. Access to dollars through the banking system depends on supply, and the payment chain is subject to US sanctions screening.
Do Venezuelans need a visa for Georgia?
Yes, applied for at a Georgian embassy or consulate.
Sources
- Ministry of Finance of Georgia, Double Taxation Avoidance Treaties: 58 treaties in force, none with Venezuela
- SENIAT Administrative Ruling SNAT/2004/0232, Official Gazette No. 37.924 of 26 April 2004: the 20% test for low tax jurisdictions, the named list, and the exclusion of treaty partners that exchange information
- OFAC Venezuela-related sanctions page and General License 57 of 14 April 2026: financial services for four named Venezuelan state banks, with no unblocking of property
- HCCH status table for the Apostille Convention: in force for Venezuela since 16 March 1999; Georgia is also a party
- Tax Code of Georgia (consolidated 15 October 2026): no tax on retained profit, 15% on distribution with a base divided by 0.85, 5% dividend withholding
Official, read on 5 October 2026 for this series: SENIAT ruling SNAT/2004/0232 in the 2004 gazette, the Venezuelan Income Tax Law in its 2001 text (articles since renumbered), Exchange Agreement No. 1 of 21 August 2018, the OFAC programme page and General Licenses 57 and 16C, the HCCH status table. Official, read on 26 October 2026: the Georgian treaty list and Tax Code. Our reading: with no treaty, the ruling's treaty exclusion cannot apply to Georgia, and a Georgian company that reinvests bears nil tax, which meets the general test; we did not check whether Georgia appears on the ruling's named list, and the ruling may have been amended. Secondary: the 3% tax on foreign currency payments (PwC) and visa rules for Venezuelan citizens (travel agencies). Sanctions change often; recheck on the day. This is not legal or tax advice.