Грузия позиционирует себя как страна, максимально комфортная для ведения игорного бизнеса. Глава Georgian National Investment Agency Гиорги Пертая назвал основные факторы ее инвестиционной привлекательности. Государство с низким уровнем коррупции может предложить гибкую и прозрачную налоговую систему, солидную емкость рынка и благоприятный климат для предпринимателей.

1. Investment Climate &
Gambling Business Opportunities in Georgia
Georgian National Investment Agency
(GNIA)
2015

2. Area: 69,700 sq km
Population: 4.5 mln
Life expectancy: 75 years
Official language: Georgian
Literacy: 100%
Capital: Tbilisi
Currency (code): Lari (GEL)
Georgia - Country Overview
GDP 2014 (est): USD 16.9 bln
GDP real growth rate 2014 (est): 4.7%
GDP CAGR 09 -14 (USD) (est): 5.6%
GDP per capita 2014(est): US$ 3763
Inflation rate 2014 : 3.1%
Total Public Debt to Nominal
GDP (%) 2014 (est):
34.6%
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3. Advantages of Investment Climate in Georgia
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 A politically stable investment destination
 Efficient, pro-business and corruption-free government
 Enlargement of market size by Free Trade Agreements
 Competitive cost of labor and energy
 Entry gate in the region
 Solid sovereign balance sheet
 Stable banking sector
 Very low crime-rate
BB- Stable BB- Positive Ba3 Positive

4. 1
7
8
15
23
27
38
45
55
62
80
90
96
Singapore
United States
United Kingdom
GEORGIA
Latvia
Netherlands
Bulgaria
Armenia
Turkey
Russia
Azerbaijan
China
Ukraine
Doing Business in Georgia
Ease of Doing Business Index Of Economic Freedom
Source: World Bank, DB 2015 (Rank out of 189
countries)
1
12
13
16
22
23
52
69
70
73
85
139
143
162
Hong Kong
United States
United Kingdom
Germany
GEORGIA
Sweden
Armenia
Kazakhstan
Turkey
France
Azerbaijan
China
Russia
Ukraine
Source: The Heritage Foundation, 2015 (Rank out of 178 countries)
Up from 112 in 2005 Up from 99 in 2005
Country's impressive progress in improving business climate has been well documented in a
number of international indices.
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5. 1%
2%
2%
2%
2%
2%
5%
11%
14%
16%
20%
22%
Hungary
GEORGIA
Denmark
Norway
Korea (South)
Canada
Switzerland
UK
United States
Armenia
Turkey
Ukraine
GEORGIA
Global Corruption Barometer
Source: Transparency International 2013 (GLOBAL
CORRUPTION BAROMETER)
Georgia is considered as essentially a corruption-free investment destination
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Corruption Free Country
0%
1%
1%
1%
1%
2%
2%
4%
9%
9%
15%
18%
GEORGIA
Denmark
Norway
Korea (South)
Hungary
Canada
Switzerland
UK
United States
Armenia
Turkey
Ukraine
GEORGIA
Percentage of users paying
a bribe to tax authorities in
the past year
Percentage of users paying
a bribe in registry and
permit services

6. Favorable public debt situation
Economic Structure and Trends
Broad-based and diversified nominal GDP structure in 2013
Rapidly growing GDP per capitaGDP: Strong rebound after a relatively small contraction in 2009
Source: Geostat, MOF Source: Geostat, MOF
Source: Geostat, MOFSource: Geostat, MOF
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Agriculture,
forestry and fishing
9%
Industry
17%
Construction
7%
Trade
17%Hotels and
restaurants
3%
Transport and
Communication
11%
Financial
intermediation
3%
Public
administration
10%
Education
5%
Health and social
work
6%
Other sectors
12%
63.2%
50.5%
40.0%
32.0%
25.5%
31.2%
41.0% 42.4%
36.5% 34.9% 34.7%
44.9%
34.5%
26.8%
21.1%
16.8%
23.5%
31.7% 33.6%
28.8% 27.6% 27.2%
0%
10%
20%
30%
40%
50%
60%
70%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Total Public Debt to Nominal GDP (%) External Public Debt to Nominal GDP (%)
5.1
6.4
7.8
10.2
12.8
10.8 11
14.4
15.8 16.1 16.9
5.9%
9.6% 9.4%
12.3%
2.3%
-3.8% 6.3%
7.2%
6.2%
3.2%
4.7%
-8.0%
-3.0%
2.0%
7.0%
12.0%
0
2
4
6
8
10
12
14
16
18
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
E
Nominal GDP (US$bln) Real GDP growth, y-o-y (%)
1188
1484
1764
2315
2921
2455 2623
3231
3523 3600 3763
0
500
1000
1500
2000
2500
3000
3500
4000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
E

7. Liberal Trade Regimes
Preferential Trade Regimes:
• FTA with CIS countries and Turkey
• DCFTA (Deep and Comprehensive
Free Trade Agreement ) with EU was
singed on June 27, 2014
• GSP agreement with USA, Norway,
Switzerland, Canada, Japan
• Member of WTO
• Very simple and service oriented customs policy and administration – customs clearance in 15
minutes
• ~80% of goods free from import tariffs
• No quantitative restrictions
Duty free access to ~0.9 billion market
provided by FTAs and DCFTA
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8. Before Current Change year
Number of
Taxes
21 6 2005-2007
VAT 20% 18% 2005
Personal
Income
Tax
12-
20%
20%
2004 - 2009
Social Tax 33% -
Corporate
Profit Tax
20% 15% 2008
Customs/
import Tax
0%, 5% or 12%
Excise Tax Depends on goods
Property
Tax
Up to 1%
 No payroll tax or social insurance tax
 No capital gains tax
 No wealth tax and inheritance tax
 Personal income tax for interest, dividend,
royalty – 5%
 Foreign-source income of individuals fully
exempted
 Accelerated depreciation on capital assets
 Loss carry forward for corporate profit tax
purposes (10 years)
 No restrictions on currency convertibility or
repatriation of capital & profit
 Double taxation avoidance treaties with 47
countries
Taxation - simple, low, efficient and fair
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9. According to the latest Tax Misery & Reform Index, released by Forbes Business & Financial
News, Georgia is the fourth least tax burden country after Qatar, UAE and Hong Kong
Leader in Forbes rating (Tax Misery & Reform Index)
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10. Georgia is expecting significant growth trajectory in tourist arrivals
Number of international visitors has been growing rapidly
0.6
1
1.1 1.3 1.5
2.0
2.8
4.4
2005 2006 2007 2008 2009 2010 2011 2012 2013
Source: Georgian National Tourism Administration
+38%
+56%
+22% 5.4
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11. Hospitality - Fast Growing Sector
Fast growing sector
• Tourism contributed 6.5% of GDP in 2013.
• Number of visitors increased by 38% reaching 2.8 million in 2011 and by 56% in 2012 reaching 4.4 million.
Georgia had 22% more visitors in 2013 reaching 5.4 million. Number of international arrivals reached 4 657 525
mln during the first 10 months of 2014. (2% increase compared to the same period of the last year).
• Majority of tourists come from: Turkey (30%), Armenia (23%), Azerbaijan (19%), Russia (14%), Ukraine (2%).
• Tourist number of international visitors from Europe increased by 3 % in 2014
• Average duration of stay - 5 nights, average spend - USD 650
Potential
• European Youth Olympic Festival 2015; UEFA Super Cup 2015.
• UNESCO heritage sites; 8 national parks
• Curative climate; mineral waters;
• According the IUCN criteria there are 84 different categories of Protected Areas(Total area– 520 811 ha; 7,47% of
the country’s territory)
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Source-Georgian National Tourism Administration

12. More international luxury hotel chains are coming to the market…
Existing Hotel Chains (8 pipeline hotel projects in Tbilisi)
With the growth of tourists the
demand for hotel rooms has been
growing in the last years in Georgia,
which has stimulated investments in
the hotel sector.
Average occupancy rate of
international brand hotels in Tbilisi
Reached to 80% in 2013 , Tbilisi
hotel market is expected growth
this year of an estimated 83%;
Supply of the rooms increased, but
still there is a huge capacity for
development of Hotel Industry.
Upcoming international
hotel brands in Georgia
Batumi
Tbilisi
Batumi
Tbilisi
Batumi
Tbilisi
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Tbilisi/Li
kani
Source: TBSC Consulting

13. Investment opportunities in Hospitality & Real Estate
Expansion of
summer ”sun and
beach” franchise
focusing on high-
end segment
All inclusive
summer resorts
New master resort
development
Description
Potential
location
 Batumi
 Anaklia
 Kobuleti
 Other Black Sea
locations
 Mestia
 Gudauri
 Bakuriani
 Goderdzi
Master
development of
winter resorts with
unique profile
equivalent to the
Alps
Government is fully
committed to
provision of basic
infrastructure
Four season resort
value preposition
Majestic landscapes
allow for a wide
range of tourism
activities such as
camping, climbing,
rafting, fishing,
hunting etc.
Development of Spa
Resorts
Include hotels,
different types of
clinics, fitness,
outdoor activities
4
 Tskhaltubo
 Akhtala
 Other locations
3
“Sun-beach”
resorts
Winter ski
resorts
Summer
mountains resorts
Spa
Resorts
Development of
large-scale integrated
casino complex to
Serve regional
markets.
Include hotels, casino
entertainment, family
Services and shopping
Fiscal incentives
available
 Batumi
 Tbilisi
 Other locations
Gambling
5
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2
 Mestia
 Gudauri
 Bakuriani
 Goderdzi
 Kazbegi
 Other locations
1

14. Map of Regional Countries Fully of Partially Banning Gambling
Activities
14
• Legislation in surrounding
countries prevents people from
enjoying gambling facilities, but
Georgia will provide them with
high quality gambling experience
similar to world class gambling
destination as Las Vegas or
Monte Carlo
• Countries where gambling is
completely or partially
prohibited: Russia, Turkey,
Azerbaijan, Iran, Israel,
Kazakhstan, Saudi Arabia etc.
• Easy access by Land, Sea and Air
makes Georgia attractive
gambling destination for all
above countries and beyond.
• Gambling business is fully
decriminalized.
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15. Gambling Business in Georgia
• There are couple of choices for starting Gambling Business in Georgia:
 Casino
 Slot Machines
 Table Games
 Bookmaker
 Bingo
 Lotto
 Promotional Drawing Game
• Georgia Revenue Service (Tax and Customs Administration of Georgia) is
responsible for issuing permits, regulation and supervision of gambling
business
15

16. Casino Fees
Annual fees:
• 5 000 000 GEL (with exceptions)
• These exceptions vary according to the location of the company:
 Batumi, Kobuleti, Borjomi, Bazaleti Lake, Gurjaani district, vill. Katchreti – 250 000 GEL
 Akhaltsikhe – 100 000 GEL
Some of the regions are totally exempt from annual state fees:
 Gudauri, Khazbegi, Bakuriani, Sighnagi and Tskaltubo – are totally exempt from annual fees with no
conditions
 Batumi, Kobuleti, Khelvachauri, Anaklia and Ganmukhuri are exempt from an annual fee on a condition
that the casino will operate in newly opened 100 or 80 room hotel
Quarterly fees:
• For each Casino Table - 15 000 - 30 000 GEL (Tournaments tables are not subject to quarterly fees )
16www.investingeorgia.org

17. Exempt from annual fee + 100 Room Hotel
Exempt from annual fee + 80 Room Hotel
Exempt from annual fee with no conditions
250000 GEL annual fee
100000 GEL annual fee
17
Casino Fee Payment Map
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18. Other Gainful Games Fees
18
Slot Machines
Annual State Fees:
50 000 – 1 000 000 GEL (Tbilisi – 1 000 000 GEL)
In case of locating slot machine club within Casino in Tbilisi: 100 000 GEL
Quarterly Fees: For each Slot Machine: 1500 – 3000 GEL
Table Games
Annual state fees:
Only Casino permit and gaming machine permit holders are allowed to open table gaming club
Casino Permit holders are allowed to open 3 Gaming Clubs in any part of Georgia for free
Gaming Machine Permit holders are allowed to open 1 Gaming Club in any part of Georgia for free
Each following Gaming Club: 10 000 – 50 000 GEL
Quarterly fees: For each Table in Table Game: 3 000 – 10 000 GEL
Bookmaker
Annual state fees: 30 000 - 300 000 GEL
Quarterly fees: Free
Bingo/Lotto
Annual state fees: 15 000 GEL
Quarterly fees: Free
Promotional Drawing Game
Annual fees: 15 000 GEL
Quarterly fees: 10% of Prize Fund

19. Land Based Gambling and Gainful Games Taxing
• Casino
 Personal income tax (salaries) – 20%; Property tax – up to 1%; Corporate Income Tax– 15%; W/H - only during
tournament – 20%;
• Slot Machines
 Personal income tax (salaries)– 20%; Property tax – up to 1%;
• Table Games
 Personal income tax (salaries)– 20%; withholding liability- only during tournament – 20%; Property tax – up to 1%;
• Bookmaker
 Personal income tax (salaries) – 20%; Property tax – up to 1%;
• Bingo/Lotto
 Personal income tax (salaries)– 20%; Corporate Income Tax– 15%; withholding liability – 20%; Property tax – up to
1%;
• Promotional Drawing Game
 Personal income tax (salaries) – 20%; Corporate Income Tax– 15%; withholding liability – 20%; Property tax – up to
1%;
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20. iGaming Permits
• iGaming permit is only issued to the land-based permit holders (of Georgia).
• Gambling and gainful games may be arranged by internet for:
 Casino
 Slot machines
 Bookmaker
 Promotional Drawing Game
• A company in Georgia is prohibited from providing iGaming services to an offshore
company
• iGaming permit holders pay quarterly fees. Quarterly fees are determined by Local
Administrations, which vary from 30000 to 60000 GEL
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21. iGaming Taxation
• Casino
 Personal income tax (salaries)– 20%, Corporate Income Tax – 15%, property tax – up to 1%, withholding
liability– only during tournament -20%
• Slot Machines
 Personal income tax (salaries) – 20%, Corporate Income Tax – 15%, Property tax – up to 1%.
• Bookmakers
 5% of the turnover (gross revenue). Personal income tax (salaries) –20%; property tax–up to 1%.
• Promotional Drawing Game
 personal income tax (salaries)– 20%; property tax – up to 1%, Corporate Income Tax– 15%; withholding liability - 20%
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22. GEORGIAN NATIONAL INVESTMENT AGENCY
• STATE AGENCY
– Promoting Georgia internationally
– Supporting foreign investments and investors
before, during & after investment process
• “One-stop-shop” for investors
• Moderator between Investors,
Government and Local Companies
Local
Companies
Investors
Government
GNIA
Mission - Attracting Greenfield and M&A Investments
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23. WHAT YOU CAN GET FROM GNIA
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• INFORMATION - General data, statistics, sector researches
• COMMUNICATION - Access to Government at all levels/Local partners
• Organization of site visits & Accompanying investors
• AFTER CARE - Legal advising & Supporting services

24. 24
GEORGIAN NATIONAL INVESTMENT AGENCY
7 Bambis Rigi, Business Center Mantashevi,
II floor 0105, Tbilisi, Georgia
Tel: (+995 32) 2 473 696
E-mail: enquiry@investingeorgia.org
www.investingeorgia.org