INTRODUCTIONOn 9 September 2022, the Parliament of Georgia announced the framework of a new regulatory regime for virtual assets and associated services that will be effective from 1 January 2023 (the Amendments). The package of the Amendments will bring more clarity to the digital asset industry in Georgia. Mainly, the Amendments were made to the Organic […]
In light of its obligation to approximate the laws of Georgia with European Union law under the Association Agreement concluded between Georgia and European Union, new law on the protection of consumer’s rights has been adopted. Particularly, on 29 March 2022 the Parliament of Georgia passed the Law of Georgia on the Protection of Consumer’s
It is evident that there is a fierce competition between jurisdictions to attract entrepreneurs, compelling the legislators to adapt to the continuously evolving demands of the 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
Pursuant to new regulations in Georgia, by June 1, 2023, certain companies must ensure compliance with the requirements relating to photo and video surveillance of their facilities. Particularly, on March 2, 2022, the Government of Georgia adopted a new No. 101 ordinance “on the approval of the technical features of the automatic photo and/or video
A recent rise of digital economy incentivised many countries to join the race of making their jurisdictions attractive for entrepreneurs and businesses operating in this field. A notable example is the United Arab Emirates, where the Emirate of Dubai recently adopted a new law to promote the Emirate as a regional and international hub for
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Company Formation under the New Law of Georgia on Entrepreneurs The new Law of Georgia on Entrepreneurs (the “Law”) became effective on 1 January 2022 and replaced its predecessor the Georgian Law on Entrepreneurs which was enacted in 1994. The Law aims to create a uniform and transparent legal framework for corporations, their shareholders, directors,
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Due to the practice of the National Agency of Public Registry of the Ministry of Justice of Georgia (the Public Registry), the unilateral right of the landlord to terminate registration of the lease agreement upon early termination of the agreement, cannot be enforced. A lease agreement with more than one-year term in Georgia requires registration with
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According to the latest practice of LEPL National Agency of the Public Registry (Public Registry), documents issued and apostilled abroad are subject to additional verification procedure. In particular, Public Registry tends to submit relevant documents for the review of either the Ministry of Foreign Affairs of Georgia (MOFA) or relevant embassies/consulates and suspends registration process
After a full year into the COVID-19 pandemic governments around the world are allowing businesses to reopen within a new framework of health and safety regulations. In Georgia it is now mandatory for businesses to perform temperature screenings at all public venues, including entertainment and hospitality sector. In this sense, businesses are trying to adapt
The release of the COVID-19 vaccine has been topping the list of the most anticipated events this year. Considering the global damage that the pandemic has inflicted, international community agrees on the urgency of the vaccine. As of December 2020, more than 190 vaccines have been reported at various stages of clinical evaluations. Out of
