Joint-Stock Company (JSC) in Georgia
A Joint-Stock Company (JSC) is a company whose capital is divided into shares, governed by the Law of Georgia on Entrepreneurs. Shareholders have limited liability, restricted to the value of their shares, and shares can be transferred, sold and in some cases publicly traded, which makes the form suited to larger businesses, investment projects and companies raising capital. A JSC has a more formal governance structure than an LLC — a general meeting of shareholders, an optional supervisory board and a management board — and must have a Charter. Registration is handled by the National Agency of Public Registry; the state fee is GEL 200 for next-business-day registration or GEL 400 for same-day registration.
Last reviewed: 10 July 2026 · Last checked: 28 July 2026
A Joint-Stock Company (JSC) is a company whose capital is divided into shares. It is one of the five company forms recognised by the Law of Georgia on Entrepreneurs and is typically used for larger businesses, investment projects and companies planning to raise capital. The structure is more complex than a limited liability company, but it offers stronger options for attracting investment.
Key features of a JSC
- Limited liability. Shareholders are not personally liable for company debts; their risk is limited to the value of their shares.
- Share-based structure. Ownership is divided into shares, which can be transferred, sold and, in some cases, publicly traded. This makes it easier to attract investors.
- Separate legal entity. The company owns assets, enters into contracts and is responsible for its own obligations.
- Suited to large-scale business. JSCs are commonly used when raising capital from multiple investors, planning expansion, or structuring corporate groups.
Types of shares
A JSC may issue different classes of shares:
| Share class | Rights |
|---|---|
| Ordinary shares | Voting rights and dividends |
| Preferred shares | Priority in dividends; may carry limited voting rights |
The Charter defines the rights attached to each share class.
Management structure
A JSC has a more formal structure than an LLC, with distinct governing bodies.
| Body | Role |
|---|---|
| General meeting of shareholders | Highest governing body; approves major decisions, elects the supervisory board and approves financial statements |
| Supervisory board (optional but common) | Oversees management and protects shareholder interests |
| Directors / management board | Handle day-to-day operations and represent the company |
This layered structure supports corporate governance and investor protection.
Charter (statute)
A JSC must have a Charter, which regulates:
- the share structure;
- shareholder rights;
- governance rules;
- decision-making procedures.
Share capital
Unlike an LLC, a JSC is typically associated with a defined share capital. The capital is divided into shares, contributions can be made in money or property, and shareholders receive shares in return.
Registration of a JSC
A JSC is registered with the National Agency of Public Registry. Typical requirements are:
- the founding documents (Charter);
- information about the shareholders;
- the directors / management structure;
- a legal address in Georgia;
- a translator for foreign participants.
| Service | State fee |
|---|---|
| Registration within 1 business day | GEL 200 |
| Same-day registration | GEL 400 |
When a JSC is used
A JSC is generally chosen where a business plans to raise investment, wants multiple shareholders, is building a large or scalable operation, or may consider issuing shares publicly in the future.
| Advantages | Trade-offs |
|---|---|
| Easier to attract investors | More complex administration |
| Share transferability | Higher compliance requirements |
| Limited liability | More formal governance (boards, meetings) |
| Suited to scaling | |
| Professional corporate structure |
Legal source
This guide is based on the Law of Georgia on Entrepreneurs. Official versions of the legislation are published by the Legislative Herald of Georgia (Matsne). Fees and requirements are periodically updated, so confirm the current rules with the National Agency of Public Registry before registering. For related procedures, see registering a company in Georgia, run a business in Georgia and business statuses in Georgia.
Frequently asked questions
What is a Joint-Stock Company in Georgia?
A Joint-Stock Company (JSC) is a company whose capital is divided into shares. It is a separate legal entity that owns assets, enters into contracts and is responsible for its own obligations. The form is typically used for larger businesses, investment projects and companies that plan to raise capital, and it is one of the five company forms recognised by the Law of Georgia on Entrepreneurs.
Are JSC shareholders personally liable for company debts?
No. Shareholders are not personally liable for the company's debts. Their risk is limited to the value of the shares they hold.
What types of shares can a JSC issue?
A JSC may issue different classes of shares, such as ordinary shares (carrying voting rights and dividends) and preferred shares (with priority in dividends and, in some cases, limited voting rights). The rights attached to each class are defined in the company's Charter.
How is a JSC managed?
A JSC has a more formal governance structure than an LLC. The general meeting of shareholders is the highest governing body and approves major decisions, elects the supervisory board and approves financial statements. A supervisory board (optional but common) oversees management, and the directors, or management board, run day-to-day operations and represent the company.
How is a JSC registered and how much does it cost?
A JSC is registered with the National Agency of Public Registry. Typical requirements include the founding documents (Charter), information about shareholders, the management structure, a legal address in Georgia and, for foreign participants, a translator. The state fee is GEL 200 for registration within one business day, or GEL 400 for same-day registration.