Estonia vs Georgia: which jurisdiction wins?

Estonia vs Georgia — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Estonia	Georgia
Tax headline	0% on retained earnings, 20% on distributions	0% on retained earnings (Estonian-style)
Formation days	1	3
First-year cost	$1,500	$1,800
Treaties	60+	56+
Substance	Real management required for tax residency	Required for International Company status
Banking	LHV, Swedbank, EMIs (Wise)	TBC, Bank of Georgia

Talk to a partner before you incorporate.

Wrong jurisdiction, wrong substance, or wrong bank shortlist is a 12-month problem. A 30-minute briefing fixes 80% of it.