On 30 May 2019, the Parliament of Georgia adopted amendments to the law of Georgia on the Legal Status of Aliens and Stateless Persons (the “Law on Aliens”), which will be effective from 5 July 2019. The amendments to the Law on Aliens change the rules related to granting work residence permit, investment residence permit […]
Changes related to the Residence Permit of Georgia Read More »
Over the course of last years, the issue of ownership of agricultural lands by foreigners has sparked heated discussions. On 16 December 2018, the new Constitution of Georgia (the “Constitution”) entered into force, which determined that agricultural land, as a resource having significant nature, shall only be owned by the state, self-governing entity, citizen of
Proposed changes related to ownership of agricultural lands by foreigners Read More »
The World Trade Organization (the WTO) is a Geneva-based international organization with 164 members representing 98 percent of global trade. The idea of the WTO is to promote free trade between nations and ensure that global trade flows within the rules that exist under the framework of the WTO. One of the main functions of
Russia wins a landmark dispute in the World Trade Organization Read More »
Starting from 1 January 2019, companies and organizations that are engaged in business deals with administrative bodies of Georgia are obliged to conduct such affairs via electronic documents signed by qualified electronic signature or qualified electronic stamp through electronic means of communication. As of now, this rule applies to public procurements. In general, the qualified
Labor safety regulations in Georgia have become a topic of active discussion leading to adoption of the new Law of Georgia on Labor Safety (the “Law on Labor Safety”). Part of the requirements under the Law on Labor Safety entered into force upon publication on 21 March 2018, while others entered into force from 1
Blockchain has become an essential modern technology not only for virtual currencies, but it has also demonstrated high potential of revolutionizing daily operations of private business as well as the state entities. The technology represents a cryptographically-secured transaction record created without the intervention of a central authority. Due to its technological peculiarities, blockchain is being
Georgian Law Developments 1. GEORGIA AND ENERGY CHARTER TREATY The 1994 Energy Charter Treaty (“ECT”) ratified by Georgia on 22 February 1995 entered into force on 16 April 1998 (the “Effective Date”). Georgia also became party to the 1994 Protocol on Energy Efficiency and Related Environmental Aspects and the 1998 Amendment to the Trade related
GEORGIA AND ENERGY CHARTER TREATY The 1994 Energy Charter Treaty (“ECT”) was ratified by Georgia on 22 February 1995 and entered into force on 16 April 1998 (the “Effective Date”). With regard to related agreements, Georgia also became party to the 1994 Protocol on Energy Efficiency and Related Environmental Aspects and the 1998 Amendment to
Value added tax (VAT) is one of the most essential taxes in Georgia. In 2019, VAT corresponded to 44% of the tax revenues of the Georgian budget. It may be concluded that VAT is one of the strongest instruments of the Georgian fiscal policy and has a significant potential of impacting an economic activity. This
New Balance of Interests between Lawful Owners and Good Faith Purchasers INTRODUCTIONOn 17 October 2017, the Constitutional Court of Georgia rendered an important judgement regarding good faith purchasers of immovable properties in Georgia (the “Judgement”). Before the Judgement, the Civil Code of Georgia (the “Civil Code”) used to be interpreted in an inconsistent way and
