๐Ÿ”Ž
 Hire Remotely Forum Advertise New Nomad Insurance New Coliving NewCommunity Dating Chat Remote Jobs 6 
  Home  Your profileโš™๏ธ  Settingsโค๏ธ  My wish list
๐Ÿก  Cities๐Ÿ‡ณ๐Ÿ‡ฑ  Countries๐ŸŒ  Community๐Ÿ‘‹  Dating New๐Ÿœ  Explore๐Ÿ’ฌ  Chat๐Ÿ—ฏ  Forum
๐Ÿ“ธ  Vote on photos๐Ÿ’ก  Request features๐Ÿ”ฎ  Random place๐Ÿ’ธ  Retirement (FIRE)๐Ÿ”Œ  Bali sea cable status๐ŸŒค  Climate finder New๐Ÿ“Š  Travel trends๐Ÿก  Real estate overseasโ›„๏ธ Escape the Winter๐Ÿฆ  Avoid Corona
๐Ÿ‘ฉโ€๐Ÿ’ป  Remote jobsโœˆ๏ธ  Airlines๐Ÿ—บ  Neighborhoods๐Ÿ  Coworkations๐Ÿฌ  Coworking spaces๐Ÿ”–  Incorporate๐Ÿก  Coliving๐Ÿš‘  Nomad Insurance
๐Ÿ“ฃ  Advertise๐Ÿ™Œ  Open Startup๐Ÿ’  Help
Georgia Chat - Meet people when traveling in Georgia on Nomad List

All Channels
Join Nomad List to chat
# _pets27min# _gear32min# budapest37min# india48min# _fitness50min# ___general50min# _coders59min# _food1h# _covid191h# _show-and-tell1h# _parents1h# amsterdam1h# china1h# _relationships2h# _flying2h# _productivity2h# _startups2h# vietnam2h# thailand2h# spain2h# _music2h# poland3h# _taxes-us6h# mexico6h# _insurance7h# _legal9h# colombia9h# italy11h# _design11h# argentina12h# brazil12h# _outdoors13h# _jobs-talk13h# paris15h# _money16h# turkey17h# _photography18h# south-africa19h# _crypto20h# bali21h# _lgbt23h# __roll-call24h# medellin1d# france1d# _housing1d# serbia1d# chile1d# _freelance1d# _bargain-travel2d# _politics2d# london2d# _marketing2d# portugal2d# guatemala2d# philippines2d# australia2d# japan2d# las-palmas2d# greece2d# russia2d# chiang-mai3d# malaysia3d# romania3d# sri-lanka3d# taiwan3d# berlin3d# united-kingdom4d# laos4d# bulgaria5d# lisbon5d# _books5d# singapore5d# uruguay5d# new-zealand6d# united-states7d# _language-learning7d# indonesia8d# germany8d# puerto-rico10d# morocco10d# _taxes-intl10d# _ruby11d# miami11d# sweden12d# kuala-lumpur12d# montreal12d# europe13d# costa-rica13d# nicaragua14d# venezuela14d# ukraine15d# hong-kong15d# canada15d# denmark15d# prague16d# slovakia16d# ireland17d# _corona17d# toronto18d# cuba18d# _javascript18d# north-korea19d# kazakhstan21d# south-korea22d# estonia22d# panama24d# new-york-city25d# malta27d# peru27d# san-francisco27d# egypt28d# qatar28d# myanmar28d# _overland-travel29d# lithuania30d# austin1mo# georgia1mo# israel1mo# ecuador1mo# cambodia1mo# dominican-republic1mo# switzerland1mo# slovenia1mo# cyprus1mo# croatia2mo# tel-aviv2mo# netherlands2mo# __jobs2mo# middle-east2mo# africa2mo# latvia2mo# norway2mo# bolivia2mo# latin-america3mo# iceland3mo
tnvugfirqm2mo
cjjbdsgredn Yep, Iโ€™m concerned. I love Georgia, but am reluctant to visit again because of this. I had unusual health problems after a 2.5-month visit (mostly in Tbilisi) just over three years ago. I had been there before without problems, but only for 10 days or so. During my longer visit I got sick and had a cough that lasted for weeksโ€”had to pretty much confine myself to my air-conditioned room for the duration of my stay (it cleared up quickly after I left). Also, my hair started falling out and a red splotch appeared on my cheek that took 3 years and some very smart doctors in Boston to clear out. I have chronic seasonal allergies, so Iโ€™m sensitive to bad air pollution, but the hair & skin problems were unprecedented.
txnrbase2mo
Has any of you noticed that Magti data is failing since yesterday or is it only me?
rzgedkar2mo
ukgwwbnqj I noticed too.
frckfwxf2mo
Ok, so itโ€™s not my phone going crazy. Good to know ๐Ÿ™‚
lclixwkcpv2mo
fhsdyxwjedu thank you so much, that is really helpful
wxrxutlkdqi2mo
Did anyone consider/planning/already achieved to get residency in Georgia (even through buying a property)?
kseeyevaelpa2mo
sabslswrvqiw what's the main purpose for this? Just curious. I was digging into high-net-worth option, and it requires apostiled/legalized bank statements/income docs + 25k GEL income from Georgia. That's for tax residence
ahghjcplfiv2mo
Thanks, UJT9E93EY. Yeah, the 25k GEL income is when you have a business. The other option is to buy real estate in excess of 100k USD.
upsjvxwjfsus2mo
prhsbnifaoay business is not necessary if you're going towards the high-net-worth route, to my knowledge
czubgiwyqbv2mo
Yes, baafwloiiniis pointed that out. I assumed the one would come with the other. Iโ€™m clarifying with my lawyer.
bknlerljafd2mo
Oh wow, interesting stuff, URS790SDR!br />
> You do not need residency to get tax residency if you have 25k gel income from Georgia.
would that then imply worldwide taxation or is territorial tax then still active for foreigners?
kxybebkgtppd2mo
adkhwatshw where did you get that info? Iโ€™ve talked to 20 RS clerks in person and they donโ€™t know anything about it :)
nwfjuiuiimvk2mo
Do you have an official RS confirmation about such tax regime? (And yes, I know itโ€™s in their code, but it doesnโ€™t prevent clerks from questioning it)
zqoatvhnnrlz2mo
I regards to 25k gel income from Georgia you also need either to spend 183 days in Georgia or provide apostile/legalized income proof of income of about $ 100 000k in one of the years
nefxdggdnpnq2mo
So since they donโ€™t know anything about such regime, how would you prove to them that you donโ€™t owe them 20%?
damnqppco2mo
I don't understand. Why would you owe them 20%? And owe who?
nroavwcexaaj2mo
To the government of Georgia. Since youโ€™re a tax resident and you need to pay to taxes. And they think you need to pay taxes on world wide income
ofzcipxjybuf2mo
Income tax, specifically
wvgmdrrlk2mo
There's no legal requirement to pay tax on worldwide income. Firstly, they don't know what my worldwide income is because I'm not legally obligated to report it. Just follow the law. I have an accountant handle tax reporting.
jmsowvsfcbaz2mo
Not reporting is different.
hfmresyogrey2mo
Until I see a written confirmation from them, I wonโ€™t believe it, even that it is specified in article 82 of their tax code
rqhfpttvy2mo
ok, that's your choice. I'll continue to just follow the law
nvlgoqdykaiu2mo
You donโ€™t get it :) when you come to the RS they are supposed to do it too, right ? They donโ€™t. BecUse they donโ€™t know it
qbwdktjhqezw2mo
When you get cash to TBC/BOG they will start asking questions...
pbpyjucxy2mo
Like I said, I don't deal with RS. I have an accountant
yoeoyyhav2mo
I also don't bank in Georgia because I don't like their banking system
xbkakeudo2mo
having tax residency in Georgia while having bank accounts there is just asking for problems
gaqarrdtjoho2mo
How do you show 25k income from Georgia?
fhahqjlmh2mo
I don't. I don't have any income from Georgia
vbafehrjy2mo
since then I would have to pay tax on that income
kdxrrnxtf2mo
I have no income from Georgia, thus pay no tax
hilfvbqseujm2mo
So whatโ€™s the basis for the tax residency then?
yyhfxvdjr2mo
I qualify under their HNWI program
otexhawnicdi2mo
Which requires either residency in Georgia or 25k income in Georgia
zddmefiedeey2mo
Sorry, Iโ€™m confused
jpjucaghc2mo
I have residency
gkhrbdmtmgnh2mo
Through a business then?
kztnzecviyja2mo
Yeah, thatโ€™s what you started with
beqxlvgrulzx2mo
+1skin-tone-2
qzjdskbfzdqh2mo
But Iโ€™m still confused how can you have a business that would allow you a residency without a bank account
fcxpzfoyw2mo
I used to have a bank account for the business but it got shut down because the banking system in Georgia is awful
pqqhndpjr2mo
I don't need a bank account for my business
oosnfgrtflvv2mo
Got it.
xatykdidazst2mo
The problems with business in Georgia that I see now is that you have to prove ties to Georgia. Have Georgian clients, specifically.
emmlzblnouwd2mo
But it may be only bank-related though
kgbiobhxj2mo
Yeah that's just for banks. For residency it's just based on business income
xkupqbeyv2mo
TBC especially doesn't like if your clients aren't Georgian
wqwjspyfnzuw2mo
How do you prove business income then, or they take any bank account?
pellwfvau2mo
That's based on income reported to RS. A Georgian company has a legal requirement to report income every month
txlhqbbtwnhf2mo
Hmm... so pretty much a cost of residency
obnvhzfcv2mo
yeah
ksnmauhzjplx2mo
Did you know they have 1% regime now ?
btpalkvjk2mo
good thing though is that I don't pay tax on company profits, just tax on the distributions
stgmhrpit2mo
No, what's the 1% regime?
skvflxrhvqnc2mo
โ€œSmall businessโ€ something
pfysvhxpvupj2mo
Up to 300k usd I guess. Donโ€™t remember an exact number
lufcfiqms2mo
one issue with Georgia is that they're continuously changing rules
gcjyftoanvjl2mo
Yeah
fuvcfadwz2mo
but if things change enough to no longer be favorable to me, I'll move on
kuydzgawbdoz2mo
Costs a lot to track too, I bet
wmbyblgnx2mo
I think I pay about $80/month for my company accountant. Plus there are lots of fees involved for both residency and tax residency. Then lawyer fees
otkvllwphrah2mo
Kinda a lot for Georgia
btpvjwmwemrn2mo
I pay 90euro for a full fledged xolo in Estonia
gxtiwlfsq2mo
yeah, Georgian tax residency is not the best setup for everyone
ihclpielyzcj2mo
Iโ€™m a US citizen, so It really wonโ€™t matter to me that much
gurdimsdw2mo
I'm a former American, it's a lot of work to get out of the grips of the American government
pzynetyhe2mo
if you have US citizenship then tax planning beyond FEIE is pretty difficult
mwzjxrtvtipt2mo
Iโ€™m married, tons of business expenses. So itโ€™s decent
pojamzrutwqu2mo
Personal income tax-wise yep
zsrvdqwdroag2mo
But they give you only two options cash or bank account. If it's not a bank account, then it's cash, and you're supposed to have a receipt, otherwise they penalize you, no?
hqcwaerfuvvf2mo
Also, VAT...
mcxxgqlau2mo
I don't deal with cash and I don't get penalized. I also don't pay VAT because my company doesn't qualify for VAT
lesxwhzlafgv2mo
Interesting
ffuphulmymab2mo
I can't imagine how that works, especially if you're asked about your accouunting audit and sources of income. but alright :)
ppbwsffsgvch2mo
And they only understand cash receipts or bank transactions...
ptklbdmisblx2mo
Actually, Crypto might work for them, as cryptomats are working legally
ohgfuwjhoqtv2mo
Yeah, I think I got it.
hmltvytjohro2mo
Thanks again hofsrzwike
fnapgazmgxdu2mo
I guess whenever you become truly free from US/FEIE you can go really long way to make it actually work... hehe
rlbubobe2mo
Maybe your willing to recommend one? It feels that I have a similar situation to yours
abfniznjshn2mo
> having tax residency in Georgia while having bank accounts there is just asking for problems
I agree with that.
zeuuwkuxlfl2mo
Interesting discussion. mayzxzabkq you opened a company to get residency, and now you also have the income tax statements, that you use for the FEIE? (Iโ€™m not an american, so no idea how that exactly works). So you get to NOT be in the country because you are HNWI. So you get to keep the income statements without needing to be there.

Isnโ€™t that what we all want here?

Did you think about buying a property in Georgia? Then youโ€™d get around opening a company.
hgsgmerz2mo
amtouyswo is there a coffee break event today?
gwskdlpoqtob2mo
oipdwnvfyuxs wbwgfafhnp is not an american any more ๐Ÿ™‚
ppgujdgxt2mo
you don't need Georgian tax residency to qualify for FEIE
xdzcbrhf2mo
wcpclmmde hoh, sorry forgot to cancel that.
foqsexan2mo
There is a Coffee Break meetup tomorrow for remote workers. If anyone wants to drop by and have a chat and meet with people -- would love to see you!
qyzdwvbs2mo
yjbexvfpn would love to see you too ๐Ÿ™‚ ^^
jkylokid2mo
Yeah sure. Is it tomorrow though or Tuesday?
tumqhlep2mo
jzeudcjbi can't get over New year's, still head is messed up. Yeah, Tuesday.
jmljxvjy2mo
Ok, see you there!
gfgnnhbcg1mo
Anyone in Tbilisi want to plan a meetup?
โ€นโ€บ
×
USD โ”€ $
ยฐF

by levelsio

โœจ To see all results
Sign Up
Log In