There is a fierce competition between jurisdictions to attract entrepreneurs, compelling the legislators to adapt to the continuously evolving demands of businesses to obtain simple and convenient legal solutions for conducting their activities. In response to the major shift from physical to remote business and employment structures in the past decade, many countries have digitalized […]
In recent years, the use of video monitoring has become increasingly prevalent in Georgia. It encompasses public and private settings, including workplaces. This rise in video monitoring has brought about significant legal considerations, particularly concerning the protection of personal data. The Georgian Law on Personal Data Protection (the Personal Data Protection Law) provides a comprehensive framework for
“Georgia innovation tax incentives”Georgia has recently introduced a transformative legal and tax framework aimed at nurturing startups, supporting innovation, and encouraging high-value research and development (R&D) activities. These changes, made through amendments to the Tax Code of Georgia and the Law on Innovation, define new legal statuses. These statuses grant significant tax incentives for companies
Georgia must align its laws with EU rules under the EU-Georgia Association Agreement. To meet this goal, Georgia adopted a consumer protection law. The Law on the Protection of Consumers’ Rights sets rules for contracts between consumers and traders. It also introduces new safeguards for handling personal data in consumer relations. Traders must inform consumers
Georgia has enacted the Foreign Agents Registration Act (FARA), a new law that introduces extensive obligations for individuals and organizations with foreign connections. Set to take effect on 31 May 2025, FARA is modeled on the U.S. Foreign Agents Registration Act, but features language and requirements that are unfamiliar. In many respects, unusually broad for
Georgia Enacts the Foreign Agents Registration Act: Key Implications and Requirements Read More »
What is Georgia’s Small-Business Status, and why is it so attractive? Georgia offers one of the most attractive tax regimes in Europe through its Small-Business Status, available to qualifying individual entrepreneurs. Under this regime, eligible persons pay just 1% income tax on their annual turnover instead of the standard 20%. This has made Georgia a
Small-Business Status in Georgia (1% Tax Regime) Read More »
Georgia has introduced a regulatory framework for virtual assets and related services to bring legal clarity to the digital asset industry. The framework is primarily based on amendments to two key laws: These legal updates establish clear definitions, responsibilities, and compliance standards for entities operating in the virtual asset sector. Before the Amendments were adopted,
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While the Labour Code of Georgia (the Labour Code) is primarily designed to protect employees’ rights, it also ensures fair working conditions. Additionally, it acknowledges the legitimate interests of employers in maintaining competitiveness and safeguarding sensitive business information. In this context, the Labour Code permits the inclusion of non-compete clauses and other restrictive covenants in
Non-Compete Clauses in Georgian Law-Governed Employment Contracts Read More »
Georgia continues to position itself as one of the most attractive jurisdictions in Eastern Europe for technology and service-based businesses. Among the country’s standout incentives is the International Company Status. It’s a preferential tax regime designed specifically for companies engaged in Information Technology and Maritime Services. This regime, introduced by amendments to the Georgian Tax
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
Empowering Secured Transactions: Exploring Blockchain Arbitration and Smart Contracts Read More »