Publications

In a strategic move to attract foreign investment and strengthen its position in the global gambling industry, the Parliament of Georgia (the Parliament) has recently passed amendments to the tax laws governing online gambling (the Amendments). Adopted on 27 June 2024, the Amendments introduce more favorable tax conditions for entities operating online gambling websites in Georgia for […]

The popularity of consumer arbitration around the world is growing day by day. Consumer arbitration enables businesses and their consumers to submit disputes to an impartial third party, such as an arbitral institution. Consumer arbitration legislation is regulated differently in the European Union and in Georgia. Consumer Arbitration in EU In the European Union, the

The legislation of Georgia provides safeguards for intellectual property both on an individual and collective basis. Individual protection entails acquiring authorization for the lawful use of a work by signing individual contract with the rights holder, while collective protection implies concluding a contract with an organization that manages property rights on a collective basis. In

On 15 December 2023, the Parliament of Georgia passed the new Law on Securitization (the Law). The Law officially came into effect on April 1, 2024. It provides a legal framework for transforming future receivables from third parties into liquid assets through the issuance of securities. Definition of Securitization Under the Law, securitization is defined as

In the realm of financial services, particularly within the jurisdiction of Georgia, the operation of payment services is subject to regulatory oversight. This regulatory framework aims to ensure transparency, security, and stability within the payment sector. Central to this regulatory landscape are entities known as Payment System Providers (PSPs), which play a crucial role in

The Parliament of Georgia recently adopted the new Law of Georgia on Personal Data Protection (the New PDP Law or the New Law). The New PDP Law contributes to Georgia’s fulfillment of international obligations and brings existing legislation in the field of personal data protection closer to the European standards. The New Law has entered

On 15 January 2024 the International Agreement on validation of European patents between the Government of Georgia and the European Patent Office (the Validation Agreement) has entered into force. The European Patent Office examines European patent applications and grants European patents respectively. The Validation Agreement ensures a fast and cheap way of obtaining a patent for an

The Government of Georgia recently submitted a legislative package to the Parliament of Georgia with the aim of implementing new regulations for the organization of gambling and winning games through an online format. The legislative package encompasses amendments to various legislative acts, including but not limited to the following acts: the Law of Georgia on

Earlier this year the Parliament of Georgia adopted the Law of Georgia on Microbanks (hereinafter the “Law”) establishing a new financial institute in Georgia. The main reason for the adoption of the Law was the institutional development and strengthening of the non-banking financial sector by the National Bank of Georgia (“NBG”). Moreover, compared to microfinance

Smart contracts have evolved as a game-changing option for safe and automated transactions in the dynamic world of blockchain technology. These self-executing contracts that are stored on the blockchain offer increased efficiency, transparency, and mutual trust. But even in the world of smart contracts, disagreements can occur as with any contract. This is when a