Why the Choice of Business Form Matters for a Gambling Operator
Entering the gambling business begins not with the permit application but with the creation of the entity that will hold that permit. The Law of Georgia on Entrepreneurs establishes the rules under which an entrepreneurial society operates — from founding documentation through registration to the contribution and the placed capital. It is this law that determines in what form a legal person comes into being, who effects its registration, and what the amount contributed by the partners into the society means.
Permit requirements, fees and the tax profile of the activity are established by separate laws, yet all of these layers attach to the figure of the entrepreneur: the permit holder, the fee payer and the taxpayer are one and the same registered entity. Therefore, when a gambling group plans its structure, the first question remains which entrepreneurial form best reflects the plan of ownership, management and contribution of capital. Below we discuss the norms of the law that give this choice its legal foundation.