Our Financial Management service provides the essential fiscal backbone for the effective stewardship of your Georgian assets, ensuring the complete financial integrity, transparency, and legal compliance of your portfolio. For non-resident owners and international investors, navigating local banking procedures and the Georgian tax system presents significant challenges and potential risks. We act as your dedicated financial representative to mitigate these risks, managing all monetary aspects of your assets with the precision and accountability that the law demands. Our service is designed to create a legally sound financial structure that ensures not just compliance, but also the long-term security and profitability of your investment.
A fundamental component of our service is providing comprehensive support for local banking, which is often a bureaucratic hurdle for foreigners. We assist clients in opening and managing dedicated Georgian Lari (GEL) or multi-currency bank accounts. This process involves navigating the strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations set forth by the National Bank of Georgia, which require detailed documentation and verification. Acting under a specific Power of Attorney, we manage the entire application process on your behalf, establishing a segregated and transparent financial hub for all asset-related transactions. This dedicated account allows for the seamless collection of rental income and the efficient handling of all payments, providing a clear and auditable transaction history.
Our team provides diligent, detail-oriented supervision of all payments, invoices, and utility bills associated with your property portfolio. We establish a systematic process for managing all financial obligations, including statutory payments like property tax, contractual payments such as maintenance fees or insurance premiums, and operational payments for utilities like electricity, gas, water, and internet. We meticulously verify all invoices for accuracy before settlement to prevent overcharging and maintain a comprehensive digital ledger of all transactions. This diligent record-keeping is indispensable for both your personal oversight and for the preparation of accurate and defensible tax declarations.
The most critical aspect of our financial management is ensuring our clients' full and optimized compliance with the Tax Code of Georgia. This is an area of significant legal risk for uninformed foreign owners. We manage all tax-related duties, from initial registration with the Revenue Service to the timely filing of all required declarations and the accurate payment of liabilities. This specifically includes the annual Property Tax, for which we handle the declaration and payment, and the Income Tax on Rental Income. We provide crucial strategic advice on legally optimizing this tax by managing the registration process that allows individual landlords to benefit from the preferential 5% tax rate instead of the standard 20%, directly enhancing your net return on investment.
Transparency and accountability are the cornerstones of our client relationships. To ensure you have a complete and accurate understanding of your asset's financial performance, we provide regular, detailed financial reports. These statements consolidate all income and expenditures for the period, offering a clear cash flow summary, a categorized list of all transactions, and an overview of your current financial position. This consistent and clear communication gives you total confidence and control over your finances from anywhere in the world, eliminating uncertainty and ensuring you are always fully informed about the financial health of your Georgian portfolio.
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