Types of Legal Entities in Kutaisi FIZ


Legal Entity forms offered for operating in Kutaisi FIZ:

Joint Stock Company (JSC)

A Joint Stock Company is a legal entity whose liability to creditors is limited to its own assets and whose capital is divided into shares, classes and quantity, which are set by the company charter. Unless otherwise noted in the charter, the corporation can issue ordinary and preferred shares. Shareholders are not liable for corporation’s obligations.

Limited Liability Company (LLC)

A legal entity with liability limited to its assets. The capital is divided into shares. Shares can be freely transferable. The company may be established by one person.

General Partnership (GP)

A legal entity in which two or more partners conduct business together under the same company name and are liable to company creditors personally.

Limited Partnership (LP)

A legal entity in which one or more partners’ liability is limited to his investment in the company, while general partners’ liability is personal.

Sole Proprietorship (SP)

A business entity without separate assets that is owned by one person who is liable to creditors personally. The owner acts on behalf of himself in legal relations. SP is not a legal entity