The first week of the September mission in Tbilisi has been about gaining insights into Georgia’s systems and economic environment: how banking operates, how companies are formed, how taxation is structured, and how the innovation ecosystem is evolving. What emerges from these observations is clear: Georgia is progressing rapidly, showing more momentum than many international reports suggest.

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Spectacular Growth: GDP 2023 & 2024

Recent figures confirm the pace of development:

• In 2023, Georgia’s real GDP grew by 7.8%.
• In 2024, growth accelerated further, with real GDP up 9.4% year-on-year, supported by services, trade, IT and construction.

These are among the highest growth rates in the region, reinforcing Georgia’s ambition to become a strong hub for investment and innovation.

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Banking That Feels Like Travel

Banking in Tbilisi leaves a strong impression. At the SOLO branch of Bank of Georgia in Vake, the experience resembles a luxury travel agency more than a bank. Account opening is fast, with multiple credit cards delivered in a day. SOLO Club adds further privileges, from the SOLO Debit Club Card to airport lounge access via LoungeKey and DragonPass, highlighting how customer-centric and internationally oriented Georgian banking has become.

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Company Formation and Taxation

The Limited Liability Company (LLC) is the standard corporate structure. Incorporation is digital by default, usually completed within days.

Taxation follows the Estonian model: profits are not taxed until distributed, encouraging reinvestment. On top of this, Georgia offers targeted regimes for IT firms:

• Virtual Zone Status, granting tax benefits for export of IT services.
• International Company Status, reducing corporate tax to as little as 5% and easing payroll and dividend taxation.

Together with the double taxation treaty with Luxembourg, these measures strengthen Georgia’s attractiveness for cross-border investors.

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Axel Network & Startup Europe

The startup ecosystem is becoming increasingly professional. Axel Network, Georgia’s leading business angel organisation, has gathered a broad group of investors and actively supports promising ventures. Its links to European business angel and startup platforms reflect how Georgian founders are embedding themselves in the wider European innovation space.

The mindset is aligned with Startup Europe principles: internationalisation, scaling into EU markets, and adopting EU-level standards.

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Founders and the Feel of Momentum

My meetings with founders and ecosystem builders underline the confidence and ambition of Georgia’s startup scene. Many are building with Europe in mind from the very beginning. They are outward-looking, open to collaboration, and less risk-averse than in the past.

This momentum feels stronger on the ground than what is sometimes reflected in external press coverage. The narrative here is one of progress, opportunity and optimism.

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Visa-Free Travel with the EU

A cornerstone of Georgia’s European orientation is visa-free travel to the EU/Schengen area. This achievement has had a direct impact on the daily lives of Georgian citizens. It enables young people to study, travel and participate in exchange programmes, professionals to attend conferences and build business ties, and families to visit relatives abroad without the burden of lengthy visa procedures.

For the population as a whole, visa-free mobility is more than symbolic: it means greater access to opportunities, stronger social and cultural connections with Europe, and a sense of belonging to the wider European family. This integration at the level of everyday life is one of the strongest signals of Georgia’s European trajectory.

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Conclusion

The first week of this visit highlights a country combining spectacular growth, favourable tax and business frameworks, and a startup ecosystem full of energy. The feel on the ground is one of momentum: Georgia is positioning itself not just as a regional player, but as a future hub comparable to Singapore or Luxembourg in its own geography.