2024 Investment Climate Statements: Georgia

Limits on Foreign Control and Right to Private Ownership and Establishment 

Georgia does not have comprehensive mechanisms in place for screening foreign investment and Georgia does not have FDI thresholds.  Governmental reviews of investment projects in Georgia are ad hoc.  The Ministry of Economy and Sustainable Development’s Investment Policy and Support Department is responsible for analyzing proposed foreign investment projects at the request of state agencies.  Georgia’s State Security Service, National Security Council (NSC), Revenue Service, Ministry of Regional Development and Infrastructure, National Bank, Ministry of Finance, Ministry of Justice, Ministry of Internal Affairs, and Ministry of Defense all have potential equities and could play a role in reviewing a foreign transaction or investment proposal for national security concerns in certain circumstances.

Foreign investors have participated in most major privatizations of state-owned property.  Transparency of privatization has been an issue at times.  No law or regulation authorizes private firms to adopt articles of incorporation or association that limit or prohibit foreign investment, participation, or control.  Georgian legislation does not protect private firms from takeovers.  There are no regulations authorizing private firms to restrict foreign partners’ investment activity or limit foreign partners’ ability to gain control over domestic enterprises.

There are no specific licensing requirements for foreign investment other than those that apply to all companies.  The government requires licenses for activities that affect public health, national security, and the financial sector:  weapons and explosives production, narcotics, poisonous and pharmaceutical substances, exploration and exploitation of renewable or non-renewable substances, exploitation of natural resource deposits, establishment of casinos and gambling houses and the organization of games and lotteries, banking, insurance, securities trading, wireless communication services, and the establishment of radio and television channels.  The law requires the state to retain a controlling interest in air traffic control, shipping traffic control, railroad control systems, defense and weapons industries, and nuclear energy.  For investment projects requiring licenses or permits, the relevant government ministries and agencies have the right to review the project for national security concerns.  By law, the government has 30 days to make a decision on licenses, and if the licensing authority does not state a reasonable ground for rejection within that period, the government must approve the license or permit for issuance.  In the real estate sector, only Georgian nationals or companies, with some exceptions, may own agricultural land.

Per Georgian law, it is illegal to undertake any type of economic activity in Abkhazia or South Ossetia if such activities require permits, licenses, or registration in accordance with Georgian legislation.  Laws also ban mineral exploration, money transfers, and international transit via Abkhazia or South Ossetia.  Only the state may issue currency, banknotes, and certificates for goods made from precious metals, import narcotics for medical purposes, and produce control systems for the energy sector.  The United States and most other countries consider these regions part of Georgia.  However, de facto local authorities claim independence, and Russian forces occupy both regions.  Russian authorities’ influence over the occupied territories includes providing a majority of the de facto governments’ budgets.  Additional information is available at travel.state.gov.

Other Investment Policy Reviews 

The most recent Investment Policy Review of the Organization for Economic Cooperation and Development (OECD) was published an Investment Policy Review in December 2020 (http://www.oecd.org/investment/oecd-investment-policy-reviews-georgia-0d33d7b7-en.htm ).

The WTO’s third Trade Policy Review of Georgia  was released in 2022, commending Georgia for its overall positive economic performance in recent years and for its pursuit of economic policies based on a commitment to open markets and integration into the global economy.  According to the report, “The tariff system and structure remained largely liberal and simple, and Georgia had the fourth-lowest average MFN applied tariff among WTO Members. Georgia continued efforts to facilitate trade by modernizing and simplifying its customs procedures and formalities through the adoption of a new Customs Code and an Authorized Economic Operator Programme and completed the full implementation of the Agreement on Trade Facilitation in 2019. Many trade-related reforms implemented by Georgia were related to the Deep and Comprehensive Free Trade Area with the European Union, which provides for the approximation of Georgia’s domestic laws to EU trade-related legislation. In addition to changes in customs procedures, this entailed far-reaching structural reforms in many other areas, including sanitary and phytosanitary measures, technical regulations and standards, competition law, state aid, government procurement, intellectual property rights, energy, and telecommunications, as well as postal, financial, and international maritime transport services.” The report also marks areas that need improvement, such as the level of competition and foreign participation in government procurement. The report also identified large participation of state-owned enterprises in the economy and the inadequate legal protection of foreign investment as areas requiring further reform.

Business Facilitation 

Georgia is a signatory of the WTO Investment Facilitation for Development Agreement.

Registering a business in Georgia is relatively quick and streamlined.  Registration takes one day to complete through Georgia’s single window registration process.  The National Agency of Public Registry (NAPR) (www.napr.gov.ge  – webpage is in Georgian only), located in Public Service Halls (PSH) under the Ministry of Justice of Georgia, carries out company registration.  The PSH website https://www.psh.gov.ge/https://www.psh.gov.ge/main/page/2/85 outlines procedures and requirements for business registration in English.  For registration purposes, the law does not require a verification of the amount or existence of charter capital.  A company is not required to complete a separate tax registration; the initial registration includes both the revenue service and national business registration.  The following information is required to register a business in Georgia:  bio data for the founder and principal officers, articles of incorporation, and the company’s area of business activity.  Other required documents depend on the type of entity to be established.

To register a business, the potential owner must first pay the registration fee, register the company with the Entrepreneurial Register, and obtain an identification number and certificate of state and tax registration.  Registration fees are GEL100 (around $37) for a regular registration and GEL200 (around $75) for an expedited registration, plus a GEL1 bank processing fee.  The owner must also open a bank account (free).

Georgia’s business facilitation mechanism provides equitable treatment of women and men.  There are a variety of state-run and donor-supported projects that aim to promote women entrepreneurs through specific training or other programs, including access to financing and business training.

Outward Investment 

The Georgian government does not have any specific policy on promoting or restricting domestic investors from investing abroad and Georgia’s outward investment is insignificant.
According to Georgia’s central bank, the net international investment position of Georgia, which measures the difference between external financial assets and liabilities of a country, totaled negative $29.2 billion as of September 30, 2023.  However, as Georgia’s economy develops, several companies are considering investing in the U.S. market, especially in metallurgy and energy areas.  The U.S. Embassy is assisting Georgian investors who seek to invest in the United States through the Department of Commerce’s SelectUSA  program.

Bilateral Investment Treaties 

Georgia has bilateral agreements on investment promotion and mutual protection with 34 countries , including the United States: International Investment Agreements Navigator | UNCTAD Investment Policy Hub .  Signed agreements awaiting ratification are with Egypt and Qatar.  Negotiations are underway with the governments of Canada and South Korea.   Additionally, in 2007, Georgia signed a Trade and Investment Framework Agreement (TIFA) with the United States.

On June 27, 2014, Georgia signed an Association Agreement and a Deep and Comprehensive Free Trade Area with the European Union.  In 2016, the government signed a free trade agreement with the European Free Trade Association countries of Iceland, Liechtenstein, Norway, and Switzerland.  Georgia’s free trade agreement with China entered into force in January 2018.  A free trade agreement is also in force with the Commonwealth of Independent States (of 1994).  Other free trade agreements exist bilaterally with Ukraine, Russia (though trade is restricted by the Russian government), Kazakhstan, Azerbaijan, Armenia, Moldova, Uzbekistan, Turkmenistan, and Turkey.  In addition, Georgia has a Partnership and Cooperation Agreement with the UK (2019).  Georgia is engaged in free trade agreement consultations with Kyrgyzstan, the Cooperation Council of Gulf Arab States, India, and Tajikistan.  The free trade agreement between Georgia and Hong Kong entered into force in 2019.

The United States and Georgia established a High-Level Dialogue on Trade and Investment in 2012, a bilateral dialogue aimed at identifying measures to increase bilateral trade and investment.  The United States and Georgia have shared a Bilateral Investment Treaty since 1997, and Georgia can export many of its products duty-free to the United States under the Generalized System of Preferences program.

Bilateral Taxation Treaties 

The United States and Georgia are beneficiaries of the U.S.-Georgia Bilateral Taxation Treaty, and Georgia is covered under the U.S. treaty with the former Union of Soviet Socialist Republics (USSR).  Double taxation issues are covered under the Convention with the Union of Soviet Socialist Republics on Matters of Taxation of 1973 (http://www.irs.gov/pub/irs-trty/ussr.pdf ).

Georgia has concluded agreements for avoidance of double taxation with 58 countries.  Respective list available at the Ministry of Finance’s website:  https://www.mof.ge/en/5128  Georgia and Russia signed a double taxation avoidance treaty in 1999, which the Georgian Parliament ratified in 2000.  Although the Russian Duma has not ratified it, Russia regards it as an active agreement.

In 2015, Georgia ratified the agreement on Foreign Account Tax Compliance Act (FATCA) between Georgia and the United States.  In 2017, Georgia signed a “Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.”

Transparency of the Regulatory System 

Georgia’s legal, regulatory, and accounting systems are transparent and consistent with international norms.

In Georgia, the lawmaking process involves Parliament (drafting and consideration) and the President (signing).  Under Georgia’s constitution, the following subjects have the right to initiate legislation:  the President, the government, members of Parliament, a committee, faction, the representative bodies of the Autonomous Republics of Abkhazia and Adjara, and groups of at least 30,000 voters.

A subject who does not have the right to launch a legislative initiative does, however, have the right to submit a “legislative proposal,” which should be a well-reasoned address to Parliament advocating for the adoption of a new law or of changes/amendments to existing legislation.  According to Article 150 of the Law on Parliament, the following can submit a legislative proposal:  citizens of Georgia, state bodies (except the establishments of the executive branch of government), the representative and executive bodies of local self-government, political and public unions registered in Georgia according to the established rule, and other legal entities.

There are no informal regulatory processes managed by nongovernmental organizations or private sector associations, except their entitlement for participating in the law-making process prescribed by the above law.  Publicly listed companies are required to prepare financial statements in accordance with IFRS – International Financial Reporting Standards.  Draft bills or regulations are available for public comment.  NGOs, professional associations, and business chambers actively participate in public hearings on legislation.  The government publishes laws and regulations in Georgian in the official online legislative herald gazette, the Legislative Messenger, ‘Matsne’ ( www.matsne.gov.ge ).  Another online tool to research Georgian legislation is www.codex.ge  or the webpage of the Parliament of Georgia, www.parliament.ge .

General oversight of the executive branch is vested in the parliament.  The new Constitution, which entered into force in December 2018, and subsequently adopted new Parliamentary Rules and Procedures, aims to strengthen Parliament’s oversight role.  Under their strengthened roles, public officials are obliged to respond to Parliament’s questions.  Government institutions also submit annual reports.  However, local watchdog organizations continue to raise concerns that one party controls all branches of government, undermining checks and balances.  Independent agencies, such as the State Audit Office the Ombudsman’s office (including the Business Ombudsman), and business associations also provide an oversight function.  Georgia maintains an active civil society that frequently reports on government activities.

Georgia has six types of taxes:  corporate profit tax (0% or 15%; no corporate income tax on retained and reinvested profit; profit tax applies only to distributed earnings), value added tax (VAT; 18%), property tax (up to 1%), personal income tax (20%), excise (on few selected goods), and import tax (0%, 5% or 12%).  Dividend income tax is five percent.  There are no dividend or capital gains taxes for publicly traded equities (a free float in excess of 25 percent).  Georgia imposes excise taxes on cigarettes, alcohol, fuel, and mobile telecommunication.  Most goods, except for some agricultural products, have no import tariffs.  For goods with tariffs, the rates are five or 12 percent, unless excluded by an FTA.

Detailed information on the types and rates of taxes applicable to businesses and individuals, as well as a payment calendar, is available on the Georgia Revenue Service website:  http://www.rs.ge/ .

In 2019, the Georgian government introduced new regulations to simplify the tax regime and streamline processes for small businesses.  The new legislation decreased turnover tax from five percent to one percent for small businesses and defined small business as those with less than GEL 500,000 ($160,000) annual turnover, a fivefold increase from the previous GEL 100,000 ($30,000) threshold.  In addition, the new regulations allow small businesses to pay taxes by the end of month, instead of requiring advance payments.  For medium and large businesses, the reform introduced an automatic system of VAT returns and activated a special system whereby entrepreneurs can pay VAT returns in five to seven business days by filling out an electronic application.

Enterprise Georgia operates the Business Service Center in Tbilisi, which provides domestic and foreign businesses with information on doing business in Georgia.  The Business Service Center facilitates an online chat tool for interested individuals (http://www.enterprisegeorgia.gov.ge/en/SERVICE-CENTER).  Additionally, the Investor’s Council provides an opportunity for the private sector to discuss legislative reforms, economic development plans, and actions to spur economic growth with the government.  Different commercial chambers, such as the American Chamber of Commerce ( www.amcham.ge ), International Chamber of Commerce ( www.icc.ge ), Business Association of Georgia ( www.bag.ge ), Georgian Chamber of Commerce and Industry ( www.gcci.ge ), and EU-Georgia Business Council ( http://eugbc.net ) remain important tools for facilitating ongoing dialogue between domestic and foreign business communities and the government.

International accounting standards are binding for joint stock companies, banks, insurance companies, companies operating in the insurance field, limited liability companies, limited partnerships, joint liability companies, and cooperatives.  Private companies are required to perform accounting and financial reporting in accordance with international accounting standards.  Sole entrepreneurs, small businesses, and non-commercial legal entities perform accounting and financial reporting according to simplified interim standards approved by the Parliamentary Accounting Commission.  Shortcomings in the use of international accounting standards persist, and qualified accounting personnel are in short supply.

The Law of Georgia on Free Trade and Competition provides for the establishment of an independent structure, the Competition Agency, to exercise effective state supervision over a free, fair, and competitive market environment.  Nonetheless, certain companies have dominant positions in pharmaceutical, petroleum, and other sectors.

Public finances and debt obligations are transparent, and Georgia’s budget and information on debt obligations were widely and easily accessible to the public through government websites including the Ministry of Finance’s site ( www.mof.gov.ge ).  International Budget Partnership ranked Georgia first out of 121 countries for budget transparency in the 2021 Open Budget Survey  (OBS) with a score of 87 points out of 100.  Georgia’s State Audit Office ( www.sao.ge ) reviews the government’s accounts and makes its reports publicly available.

The Heritage Foundation’s   Economic Freedom Index 2024  ranked Georgia 32nd among 184 countries and characterized Georgia’s economy as “moderately free.”  In the European region, Georgia is ranked 19th out of 44 countries.  According to the report, “despite a challenging external and political environment, Georgia’s economy performed quite well in key policy areas. Reforms to enhance regulatory efficiency have been implemented, and open-market policies are maintained along with low tax rates. The economy has demonstrated a high level of resilience. However, institutional weaknesses still require much more committed reforms because marginal reforms have not generated much improvement. Public spending has been growing as a share of GDP, and the budget balance has been negative. Inflation has been relatively high.”
According to the 2024 assessment report   of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, Georgia maintains a “largely compliant” overall rating.  The report notes that, “Georgia’s legal and regulatory framework is generally in place to ensure the availability of legal ownership, accounting and banking information.”  In the report the OECD stressed the need for further improvement to ensure the availability of beneficial ownership information, “which is only available through anti-money laundering obligations” and “such obligations do not cover all relevant legal persons and arrangements.”

International Regulatory Considerations 

Georgia’s Association Agreement of 2014 with the European Union introduced a preferential trade regime, the DCFTA, which increased market access between the EU and Georgia based on better-aligned regulations.  The agreement is designed to introduce European standards gradually in all spheres of Georgia’s economy and sectoral policy:  infrastructure, energy, the environment, agriculture, tourism, technological development, employment and social policy, health protection, education, culture, civil society, and regional development.  It also provides for the approximation of Georgian laws with nearly 300 separate European legislative acts.

The DCFTA and the government’s broader EU accession efforts should promote a gradual approximation with European standards for food safety, establish a transparent and stable business environment in Georgia, increase Georgia’s potential to attract investment, introduce innovative approaches and new technologies, stimulate economic growth, and support the country’s economic development.  In December 2023, the EU granted Georgia candidate status and provided nine steps to move the country toward accession negotiations, including deoligarchization and anti-corruption efforts.  According to polling, the overwhelming majoring of Georgians (86 percent) support Georgia joining the EU.

Georgia has been a WTO member since 2000 and consistently meets requirements and obligations included in the Agreement on Trade Related Investment Measures.  Since WTO accession, Georgia has not introduced any Technical Barriers to Trade.  In January 2016, Georgia ratified the WTO Trade Facilitation Agreement.

Legal System and Judicial Independence 

Georgia’s legal system is based on civil law and the country has a three-tiered court system.  The first tier consists of 25 trial courts throughout the country that hear criminal, civil, and administrative cases.  Two appellate courts, Tbilisi Appeal Court (East Georgia) and Kutaisi Appeal Court (West Georgia), represent the second tier.  The Supreme Court of Georgia occupies the third, or the highest, instance and acts as the highest appellate court.  In addition, there is a separate Constitutional Court for arbitrating constitutional disputes between branches of government and ruling on individual claims concerning human rights violations stemming from the Constitution.

Georgia does not have an integrated commercial code.  There are several different laws and codes (Tax Code, Law on Entrepreneurs, and Law on Insolvency) that regulate commercial activity in Georgia.  There are no specialized courts, such as a commercial court, to handle commercial disputes; however, in Tbilisi there are specialized court panels that handle high value disputes, including some commercial disputes.  The Ministry of Justice’s Public Service Halls provide property registration.

The Public Defender’s Office, the nongovernmental Coalition for an Independent and Transparent Judiciary, and the international community continued to raise concerns regarding a lack of judicial independence, including the influence of a group of judges primarily consisting of High Council of Justice (HCOJ) members and court chairpersons that allegedly stifled critical opinions within the judiciary and obstructed proposals to strengthen judicial independence.  Concerns regarding the integrity of the judicial appointment process and the capacity of the courts to deliver quality outcomes continue to affect investor confidence in the court system.    On April 5, 2023, the State Department designated three current and one former judge under Section 7031(c) of the FY 2023 Department of State, Foreign Operations, and Related Programs Appropriations Act which prevent these individuals and their immediate family members from entering the United States based on credible information that they had engaged in acts of corruption.

Laws and Regulations on Foreign Direct Investment 

The U.S.-Georgia Bilateral Investment Treaty (BIT) guarantees U.S. investors national treatment and most favored nation treatment.  Exceptions to national treatment have been carved out for Georgia in certain sectors, such as maritime fisheries, air, and maritime transport and related activities, ownership of broadcast, common carrier, or aeronautical radio stations, communications satellites, government-supported loans, guarantees, and insurance, and landing of submarine cables.

Georgia’s legal system is based on civil law.  Legislation governing foreign investment includes the Constitution, the Civil Code, the Tax Code, and the Customs Code.  Other relevant legislation includes the Law on Entrepreneurs, the Law on Promotion and Guarantee of Investment Activity, the Bankruptcy Law, the Law on Courts and General Jurisdiction, the Law on Limitation of Monopolistic Activity, the Accounting Law, and the Securities Market Law.

Ownership and privatization of property is governed by the following acts:  the Civil Code, the Law on Ownership of Agricultural Land, the Law on Private Ownership of Non-Agricultural Land, the Law on Management of State-Owned Non-Agricultural Land, and the Law on Privatization of State Property.  Property rights in extractive industries are governed by the Law on Concessions, the Law on Deposits, and the Law on Oil and Gas.  Intellectual property rights are protected under the Civil Code and the Law on Patents and Trademarks.  Financial sector legislation includes the Law on Commercial Banks, the Law on National Banks, and the Law on Insurance Activities.

Information about the procedures and requirements during the investment process is available in English Language at the Invest in Georgia (by Enterprise Georgia) website:  https://investingeorgia.org/en/downloads/useful-guides 

Competition and Antitrust Laws

The Georgian Law “On Free Trade and Competition” of 2005 that governs competition is in line with the Georgian Constitution and international agreements.

The agency in charge of reviewing transactions for competition-related concerns is the Competition Agency, an independent legal entity of public law, subordinated to the Prime Minister of Georgia.  The agency aims to promote market liberalization, free trade, and competition ( www.competition.ge ).  Competition Agency decisions can be appealed at court.  Georgia has also signed several international agreements containing competition provisions, including the EU-Georgia Association Agreement (AA).  The DCFTA within the AA goes further than most FTAs, with regulatory alignment, the elimination of non-tariff barriers, and binding rules on investments and services.

In July 2020, Georgia adopted the Law of Georgia on the Introduction of Anti-dumping Measures in Trade  that became effective January 1, 2021.  The aim of the law is to protect local industry from price dumping on imports.  The Law establishes the basic conditions and rules for the introduction of anti-dumping measures to be implemented when importing goods via the customs territory of Georgia.

In 2022, the Georgian Parliament adopted a bill on Consumer Protection, which is an essential component among the obligations under the EU-Georgia Association Agreement; it establishes rules for consumer protection and prohibits “unfair commercial practices” that violate the values of “trust and good faith.”  The National Competition Agency is responsible for executing the Consumer Protection law.

Expropriation and Compensation

The Georgian Constitution protects property ownership rights, including ownership, acquisition, disposal, and inheritance of property.  Foreign citizens living in Georgia possess rights and obligations equal to those of the citizens of Georgia, except for certain property rights (see Section 5).  The Constitution allows restriction or revocation of property rights only in cases of extreme public necessity, and then only as allowed by law.

The Law on Procedures for Forfeiture of Property for Public Needs establishes the rules for expropriation in Georgia.  The law allows expropriation for certain enumerated public needs, establishes a mechanism for valuation and payment of compensation, and provides for court review of the valuation at the option of any party.  The Georgian Law on Investment allows expropriation of foreign investments only with appropriate compensation.  Amendments to the Law on Procedures for Forfeiture of Property for Public Needs allow payment of compensation with property of equal value as well as money.  Compensation includes all expenses associated with the valuation and delivery of expropriated property.  Compensation must be paid without delay and must include both the value of the expropriated property as well as the loss suffered by the foreign investor because of expropriation.  The foreign investor has a right to review an expropriation in a Georgian court.  In 2007, Parliament passed a law generally prohibiting the government from contesting the privatization of real estate sold by the government before August 2007.  The law is not applicable, however, to certain enumerated properties.

The U.S.-Georgia BIT permits expropriation of covered investments only for a public purpose, in a non-discriminatory manner, upon payment of prompt, adequate and effective compensation, and in accordance with due process of law and general principles of fair treatment.

Expropriation disputes are not common in Georgia, although under the previous government there were cases of property transfers that lacked transparency and allegedly were implemented under coercion.

Dispute Settlement

ICSID Convention and New York Convention

Since 1992, Georgia has been a member of the International Centre for Settlement of Investment Disputes (ICSID Convention) and a signatory to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958 New York Convention).  As a result of these international obligations, Georgia is bound to accept international arbitration and recognize arbitral awards.  The Ministry of Justice oversees the government’s interests in arbitrations between the state and private investors.  Georgia’s Law on Arbitration of 2010 provides for recognition and enforcement of arbitration awards rendered outside of Georgia.

Investor-State Dispute Settlement

Georgia has signed bilateral investments treaties (BITs) with 34 countries  including the United States:  https://investmentpolicy.unctad.org/international-investment-agreements/countries/77/georgia .  Georgia signed four more bilateral investment treaties with Japan, UAE, Kyrgyzstan, and Egypt, but these have not yet entered into force.  Georgian investment law allows disputes between a foreign investor and a government body to be resolved in Georgian courts or at ICSID unless a different method of dispute settlement is agreed upon between the parties.  If the dispute cannot be heard at ICSID, the foreign investor can also submit the dispute to ad-hoc international arbitration under United Nations Commission for International Trade Law (UNCITRAL model law) rules.  The right to use ICSID or UNCITRAL model law is guaranteed under the U.S.–Georgia BIT.

Although the constitution and law provide for an independent judiciary, there remain indications of interference in judicial independence and impartiality.  Judges are vulnerable to political pressure from within and outside of the judiciary.  There are consistent reports of political interference and lack of respect for rule of law in a number of property rights cases.  Disputes over property rights at times have undermined confidence in the impartiality of the Georgian judicial system and rule of law and, by extension, Georgia’s investment climate.

Over the past 10 years, there have been over a dozen investment disputes involving U.S. citizens. As of September 2023, most of them were resolved through arbitral awards, out-of-court settlements, or a government decision, but three were outstanding.  Local courts recognize and enforce foreign arbitral awards issued against the government.  There is no substantial history of extrajudicial action against foreign investors.

International Commercial Arbitration and Foreign Courts

Georgia’s arbitration law went into force on January 1, 2010.  Georgia has enacted legislation based on the UNCITRAL Model Law.  Domestic private arbitration firms, such as the International Arbitration Center ( www.giec.ge ), operate in dispute resolution between two private parties.

Bankruptcy Regulations

On 1 April 2021, a new insolvency law, “On Rehabilitation and Collective Satisfaction of Creditors,” entered into force in Georgia.  The main aim of the law is to protect the interests of the creditors, promote mechanisms for rehabilitation, strengthen the role of the courts during the insolvency proceedings, and separate and clarify the rights and responsibilities of individuals involved in the process and the creation of fair regulations.  This law has eased the process for struggling businesses to return to growth.

The law defines two types of creditors:  secured and non-secured.  Creditors can file a court claim for opening an insolvency proceeding, given certain conditions are satisfied (conditions vary, depending on the outstanding debt amount and the delayed days of repayment).  Creditor meetings are held in court and chaired by a judge.  The creditor meeting can decide several issues, including the appointment of a supervisor of the bankruptcy or rehabilitation proceedings, and the appointment of a member of the facilitation council.

Secured creditors:  Secured creditors must make unanimous decisions on approving a debtor’s new debts, the encumbrance of the debtor’s property, and suretyship.  If there are no secured creditors, the creditor’s meeting is authorized to make the same decisions.  The secured creditors, in a creditor’s meeting, may suspend enforcement of the material conditions of the agreement with the bankruptcy or rehabilitation supervisor or on the definition of the terms of the rehabilitation.  After the debtor’s property is sold on auction, secured creditors have priority for being repaid.  All secured creditors must approve the rehabilitation plan and plan amendments.  New equity investment in the debtor’s company is only possible if there are prior consents from all secured creditors and the rehabilitation supervisor.

Non-secured creditors:  Non-secured creditors are satisfied only after all secured creditors are satisfied (unless otherwise agreed by all creditors unanimously).  Non-secured creditors do not have voting rights for the rehabilitation plan approval.

The priority system shall not apply to creditors whose claim is secured by financial collateral.

Foreign creditors:  The law provides additional time for foreign creditors to file claims.  Creditors may file claims to the court and request to declare the agreements made by the insolvent debtor voidable and/or request reimbursement of damages, if such agreements inflicted damages to the creditor.

The Debt Registry of the National Agency of the Public Register is Georgia’s credit monitoring authority.

Investment Incentives

The Georgian government has created several tools to support investment in Georgia’s economy.

The JSC “Development Fund of Georgia”  ( https://fund.ge/ ) is a state investment fund. It continues to operate on the basis of JSC “Partnership Fund”, founded in 2011, which operated under this name until September 2023, before the reform of the fund.  DFG’s main objective is to attract and support private investors through participation at the early stage of investment projects (co-investment in equity, subordinated loan, etc.).

In 2013, the government launched the Georgian Co-Investment Fund  (GCF) to promote foreign and domestic investments.  The GCF ( www.gcfund.ge ) provides investors with exposure to the fast-growing sectors of the Georgian economy. It utilizes a private equity structure designed to cater to investors diverse needs.  The Fund considers investment opportunities across sectors and industries which significantly contribute to the development of the Georgian economy, including  Energy and Infrastructure ,  Hospitality and Real Estate ,  Agriculture and Logistics , and  Manufacturing  . 

Enterprise Georgia is the government agency working under the Ministry of Economy and Sustainable Development of Georgia. The agency is responsible for business support, export promotion and investment attraction.  Some recent incentives that the Georgian Government has put in place under the umbrella of Enterprise Georgia include the following:

• FDI Grant:  The Government of Georgia offers support to foreign investment projects with the cashback of 15% of capital expenditures and training costs. The program aims at promoting the growth of Foreign Direct Investments in the country as well as influx of knowledge and technology and the creation of new jobs in Georgia. See more information and eligibility criteria at https://investingeorgia.org/incentives/ 

• International Company Status:  The International Company Status (ICS) is a special tax status in Georgia available to certain types of Georgian enterprises, which must be operated in Georgia. This can include Georgian enterprises which represent foreign (non-resident) enterprises. For instance, “International Company Status” grants IT sector companies a preferential tax regime, which qualifies them for reduced rates of Corporate Tax (5%), Dividends Tax (0%), and Personal Income Tax (5%).  More information is available at https://www.rs.ge/LegalEntityPreferentialTax-en?cat=10&tab=1 .

• Business Universal – Loan Interest Rate Subsidizing and Collateral Guarantee, covering the following industries: Manufacturing, Hotels Industry/Balneological Resorts, Tourism Services, Agrotourism, Ecotourism.

• Credit Guarantee Mechanism:  This program aims at improving access to finance for small and medium size businesses, facilitates lending, and ensures inclusive economic growth.  The program opens opportunity for small and medium size businesses which do not meet the requirements of the loan collateral.  See more information at https://www.enterprisegeorgia.gov.ge/en/business-development/Credit-guarantee-mechanism .

The National Agency of State Property oversees the Physical Infrastructure Transfer Component, the free-of-charge transfer of government-owned real property to an entrepreneur under certain investment obligations.

In October 2018, Georgia’s Prime Minister introduced the concept of electronic residency, allowing citizens of 34 countries to register their companies electronically and open bank accounts in Georgia while not having a physical presence in the country.

Incentives for Construction of renewable energy generation:  Under Article 5 of the Energy Law, one of the general principles of organization, regulation and monitoring of energy activities is the promotion of the generation of electricity from renewable energy sources and of the combined generation of electricity and heat.  Moreover, Article 7 of the Energy Law states: “The State Energy Policy shall provide measures aimed at the use of renewable energy sources for the generation of electricity and consumption of electricity produced from such sources, as well as any incentives and support mechanisms applied for the promotion of the use of renewable energy sources.”

The energy legislation promotes domestic and foreign investment in rehabilitation and improving industries such as coal, natural gas, water supply, and using local hydropower and other sustainable and alternative tools.  It also emphasizes the value of small power plants with an installed capacity of 15 megawatts (MW) for the effective and environmentally friendly use of renewable energy resources.

Resolution No 403 of the Government of Georgia, On the approval of Support Scheme (Hydroelectric Power Plants) of the Generation and Use energy from Renewable Energy Sources Energy Support and Use Scheme from Renewable Sources, was adopted in 2020 and amended in 2021 ( https://matsne.gov.ge/ka/document/view/4914589?publication=0, in Georgian).  This resolution outlines support schemes for construction and operation of power plants which are initiated by the private developer and have installed capacity more than 5 MW.

Foreign Trade Zones/Free Ports/Trade Facilitation

In June 2007, the Parliament of Georgia adopted the Law on Free Industrial Zones, which defines the form and function of free industrial/economic zones.  Financial operations in such zones may be performed in any currency.  Foreign companies operating in free industrial zones are exempt from taxes on profit, property, and VAT.  Currently, there are four free industrial zones (FIZ) in Georgia:

1. Poti Free Industrial Zone (FIZ):  This is the first free industrial zone in the Caucasus region, established in 2008.  UAE-based RAK Investment Authority (RAKIA) initially developed the zone, but in 2017, CEFC China Energy Company Limited purchased 75 percent of shares, with the Georgian government holding the remaining 25 percent.  Poti FIZ ( www.potifreezone.ge ), a 300-hectare area, benefits from its proximity to the Poti Sea Port.

1. A 27-hectare plot in Kutaisi is home to the Egyptian company Fresh Electric, which constructed a kitchen appliances factory in 2009.  The company has committed to building about one dozen textile, ceramics, and home appliances factories in the zone, and announced its intention to invest over USD two billion.

1. Chinese private corporation “Hualing Group,” based in Urumqi, China, developed another FIZ in Kutaisi in 2015.  This FIZ is a 36-hectare area that houses businesses focused on sales of wood, furniture, stone, building materials, pharmaceuticals, auto spare parts, electric vehicles, and beverages ( www.hualingfiz.ge ).

1. The Tbilisi Free Zone (TFZ) in Tbilisi occupies 17 hectares divided into 28 plots.  TFZ has access to the main cargo transportation highway, Tbilisi International Airport (30 km), and the Tbilisi city center (17 km).  For more information, visit: https://www.tfz.ge/en/510/ .

Performance and Data Localization Requirements

Performance requirements are not a condition of establishing, maintaining, or expanding an investment, but the government has imposed requirements on a case-by-case basis in some privatizations of large state assets, such as commitments to maintain employment levels or to make additional investments within a specified time period.  Performance requirements such as scope and time limit on licenses to extract natural resources or production sharing agreements have triggered complaints from some companies that transactions lacked transparency.  Most types of performance requirements are prohibited by the U.S.-Georgia BIT.

Georgia’s Law on Promotion and Guarantees of Investment Activity prohibits setting the required minimum number of Georgian citizens to be elected or appointed in leading bodies of enterprises.

The government does not follow a forced localization policy though recent legislative changes have created difficulties in acquiring residence permits for foreign employees working for VAT exempt entities.  Foreign investors have no obligation to use domestic content in goods or technology.  In addition, there are no requirements for foreign IT providers to turn over source codes and/or provide access to surveillance.

Customer and business-related data transfer is not restricted in Georgia, neither within nor outside the country, unless it concerns personal or national security matters, which are protected by the law.

The Data Exchange Agency (DEA), under the Ministry of Justice, coordinates e-governance development, data exchange infrastructure, unified governmental networks, informational and communication standards, and cybersecurity policy.  The DEA requires any company managing critical data to implement a number of security protocols to protect that information ( https://data.gov.ge/  ).

Real Property

Processes to register property are streamlined, transparent, and take one day to process at Public Service Halls.  In June 2017, the Parliament adopted a legislative amendment that placed a moratorium on the sale of agricultural land to foreign citizens and stateless persons.  Under the amendment, foreigners, legal entities registered abroad, and legal entities registered by foreigners in Georgia were not able to purchase agricultural land in Georgia.  Furthermore, the new Constitution that came into force in December 2018 determined that agricultural land can only be owned by the state, self-governing entities, citizens of Georgia, or a group of Georgian citizens.  The Constitution also states that exclusions may be specified in organic law, which requires votes from at least two-thirds of Parliament to pass.

Mortgages and liens are registered through the public registry, and information can be obtained from www.napr.gov.ge .

The government has taken multiple steps to regulate land titling, including facilitating simplified procedures, free registration campaigns, and mediation services.  Unclear or unregistered titling, which persists, has the potential to hamper investment projects.

Property ownership cannot revert to other owners when legally purchased property stays unoccupied.

Intellectual Property Rights

Georgia is not listed in USTR’s Special 301 Report or in the Notorious Markets List.

Georgia acceded to the World Trade Organization (WTO) and the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement in 2000.  The Ministry of Economy and Sustainable Development is responsible for WTO compliance.

Georgia’s legal framework for protection of intellectual property rights (IPR) aligns with international standards and IPR enforcement is largely harmonized with EU standards.   Six laws regulate IPR in Georgia:  the Law on Patents, the Law on Trademarks, the Law on Copyrights and Neighboring Rights, the Law on Appellation of Origin and Geographic Indication of Goods, the Law on Topographies of Integrated Circuits, and the Law on IP-Related Border Measures.  Georgian law provides protection for works of literature, art, science, and sound recordings for 50 years.

The National Intellectual Property Center of Georgia (Sakpatenti) administers the regulatory system for issuing and managing trademarks, copyright, patents, and geographical indicators of origin.  Sakpatenti coordinates the government’s approach to IPR enforcement under the Interagency Coordination Council for IPR Enforcement.  This Council is an efficient platform for government institutions to exchange their views on IPR enforcement issues. Georgia has improved enforcement of IPR and has effectively reduced the availability and use of unlicensed software, pirated video and audio recordings, and other unlicensed content online.

As part of the Ministry of Finance, the Revenue Service, enforces IPR matters.  The Revenue Service is responsible for border control and can halt import or export of items based on the register data. Recently, counterfeit alcohol spirits have become a larger challenge for Georgia, but the country has taken steps to raise awareness and address the issue.  The Customs Service Department and the Tax Monitoring Department, both being under the Revenue Service, and the Investigation Service of the Ministry of Finance, – each are authorized to act ex officio and with the notice from the rights holder.  After the registration procedure is completed, the Revenue Service is liable to suspend counterfeit goods.  According to the law, the goods may be suspended for no longer than 10 working days, which may be extended by the Revenue Service for another 10 working days.  The Law of Georgia on Border Measures Related to Intellectual Property provides for the possibility of destruction of counterfeit goods based on a court decision.

In 2023, Georgia amended its Trademark Law, the Law on Appelations of Origin and Geographical Indication of Goods, and the Law on Copyright to be in accordance with current international standards.

Georgian legislation covers various types of liability for intellectual property right infringement, including civil, administrative and criminal responsibilities  The Code of Civil Procedure of Georgia provides for the court’s authority to take provisional measures necessary for securing full and proper execution of the court’s decision.

In 2023, the Ministry of Finance’s Investigation Service initiated 39 cases for the unlawful use of trademark or other commercial designations, illegal transportation or sale of forged goods and manufacturing, and the sale or use of forged credit cards or charge cards.  As a result, 209,026 counterfeit items were seized, with the total value of around $208,000.  In addition, the Customs Department issued 301 orders for the suspension of goods.  Out of these, in 249 cases the right holder and the owner of the goods agreed on the destruction of the goods, with a combined value of approximately $130,000.  In 2023, the Tax Monitoring Department of LEPL Revenue Service revealed 23 cases of trademark infringements.  The government seized 1,917 counterfeit items, with the total value of $11,340.

Despite strong legal structure, enforcement of IP generally remains challenging.  Civil cases on IPR infringement have not reflected the full extent of the situation regarding counterfeiting and piracy in Georgia, as the private sector has often not used available legal mechanisms for IPR enforcement.  Infringement of industrial property rights, copyrights, performers’ rights, rights of makers of databases, trademarks or other illegal use of commercial indications can incur civil, criminal, and administrative penalties.  Depending on the type and extent of the violation, penalties include fines, corrective labor, social work, or imprisonment.

The Criminal Code of Georgia regulates prosecution of IPR violations, in particular: Articles 189, 1891 and 196.  More detailed information can be found at https://matsne.gov.ge/document/view/16426?publication=232 .

For additional information about treaty obligations and points of contact at local IP offices, please see WIPO’s country profiles at:  http://www.wipo.int/directory/en/ .

Capital Markets and Portfolio Investment

The National Bank of Georgia regulates the securities market.  All market participants submit their reports in line with international standards.  All listed companies must make public filings, which are then uploaded to the National Bank’s website, allowing investors to evaluate a company’s financial standing.  The Georgian securities market includes the following licensed participants:  two Stock Exchanges, a Central Securities Depository, nine brokerage companies, and three independent securities registrars. ( https://www.nbg.gov.ge/index.php?m=487&lng=eng )

The Georgian Stock Exchange (GSE, https://gse.ge/en/ ) is the only organized securities market in Georgia.  Designed and established with the help of USAID and operating under a legal framework drafted with the assistance of U.S. experts, the GSE complies with global best practices in securities trading and offers an efficient investment facility to both local and foreign investors.  The GSE’s automated trading system can accommodate thousands of securities that can be traded by brokers from workstations on the GSE floor or remotely from their offices.

The government and Central Bank (National Bank of Georgia) follow IMF Article VIII and do not impose any restrictions on payments and transfers in current international transactions.
Credit from commercial banks is available to foreign investors as well as domestic clients, although interest rates are high, which is a hindering factor for many businesses, especially SMEs.  Banks offer business, consumer, and mortgage loans.

Money and Banking System

Banking is one of the fastest growing sectors in the Georgian economy.  As of March 1, 2024, Georgia’s banking sector consists of 17 commercial banks, including 15 foreign-controlled banks, with 148 commercial bank branches and 760 service centers throughout the country.  In January 2024, Georgian commercial banks held GEL 78.5 billion (around USD 29.4 billion) in total assets.  The private sector Credit-to-GDP ratio stands at 73.9 % as of 2023Q4, still quite high compared to regional peers.  As of early 2024, there were 18 insurance companies and 34 microfinance (MFI) organizations operating in Georgia.  The two largest Georgian banks are listed on the London Stock Exchange:  TBC Bank and the Bank of Georgia.

The banking system is stable, well capitalized, liquid, and profitable.  The financial sector maintains solid capital and liquidity buffers against potential threats.  The share of non-performing loans (2.7% as of February 1, 2024) is declining.  Georgia’s banking supervision practices and regulations have significantly progressed and are largely in line with Basel/EU directives.

The National Bank of Georgia  (NBG, www.nbg.gov.ge ) is Georgia’s central bank, as defined by the Constitution.  The rights and obligations of the NBG as the central bank, the principles of its activity, and the guarantee of its independence are defined in the Organic Law of Georgia on the National Bank of Georgia.  The National Bank supervises the financial sector to facilitate the financial stability and transparency of the financial system, as well as to protect the rights of the sector’s consumers and investors.  NBG is the supervisory authority for the financial institutions in terms of undertaking measures against money laundering (AML) and terrorism financing (CFT).  The NBG´s approach to the AML/CFT supervision is fully risk-based and carried out through its Money Laundering Inspection and Supervision Department.

Credit rating agencies positively assess Georgia’s macroeconomic stance.  In 2024, Moody’s affirmed Ba2 rating and changed Georgia’s outlook to stable from negative.  In 2023, Fitch affirmed Georgia at ‘BB’ and updated its outlook from stable to positive.

In February 2023, Parliament adopted amendments to the NBG law which increased the number of the executive board members and set the rules for appointing an ad interim National Bank president if the position is vacant. The President of Georgia vetoed the amendments, saying they may undermine the Bank’s independence.  The IMF released a statement in February 2023 noting that action to amend the NBG law to change the NBG’s management structure risked undermining the authorities’ hard-won credibility, and any changes to the central bank’s governance framework should be carefully contemplated and follow a deliberative consultation process to ensure that central bank independence and credibility are safeguarded.  The IMF’s Stand by Arrangement-supported program has been paused since June 2023.

The International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the U.S. International Development Finance Corporation (DFC), the Asian Development Bank (ABD), and other international development agencies have a variety of lending programs making credit available to large and small businesses in Georgia.  Georgia’s two largest banks – TBC and Bank of Georgia – have correspondent banking relationships with the United States mainly through Citibank and JP Morgan.  The correspondent banking remains a major challenge for small and medium size banks.

Georgia does not restrict foreigners from establishing a bank account in Georgia.  Several local banks are subsidiaries of international banking groups and subject to the same regulations.
For proper and efficient monitoring of sanctions’ compliance by the financial intuitions, the NBG has established a new unit which is responsible for elaboration of respective methodological guidelines for the financial intuitions on international sanctions’ compliance and assists representatives of financial sector to understand and fulfill all the requirements envisaged by the sanctions’ regimes. Compliance with international financial sanctions is systematically checked during the onsite inspections of financial institutions.

Foreign Exchange and Remittances

Foreign Exchange

The sole legal tender in Georgia is the lari (GEL), which is traded on the Bloomberg Trading Platform.  The NBG publishes the official exchange rate daily on its website.  The official exchange rate of the Georgian lari against other foreign currencies is determined according to the rate on international markets or the issuer country’s domestic interbank currency market based on cross-currency exchange rates.  The sources used for the acquisition of exchange rates are the Reuters and Bloomberg systems and the corresponding webpages of central banks.  The information is received, calculated, and disseminated automatically.

Georgia has a floating exchange rate.  The National Bank of Georgia does not intend to peg the exchange rate and does not generally intervene in the foreign exchange market, except under certain circumstances when large one-off transaction may cause excessive fluctuation, as well as to accumulate FX international reserves when market allows.

Georgian law guarantees the right of an investor to convert and repatriate income after payment of all required taxes.  The investor is also entitled to convert and repatriate any compensation received for expropriated property.  Georgia has accepted the obligations of Article VIII, Sections 2, 3, and 4 of the IMF Articles of Agreement, effective as of December 20, 1996, to refrain from imposing restrictions on payments and transfers for current international transactions and from engaging in discriminatory currency arrangements or multiple currency practices without IMF approval.  Parliament’s 2011 adoption of the Act of Economic Freedom further reinforced this provision.

Under the U.S.-Georgia BIT, the Georgian government guarantees that all money transfers relating to a covered investment by a U.S. investor can be made freely and without delay into and out of Georgia.

Foreign investors have the right to hold foreign currency accounts with authorized local banks.

Remittance Policies

There are no restrictions, limitations, or delays involving remittances from overseas.  Several Georgian banks participate in the SWIFT and Western Union interbank communication networks.  Businesses report that it takes a maximum of three days for money transferred abroad from Georgia to reach a beneficiary’s account, unless otherwise provided by a customer’s order.  There is no indication that remittance policies will be altered in the future.  At the border, travelers must declare currency and securities in their possession valued at more than GEL 30,000 (around $11,100).

Sovereign Wealth Funds

Georgia does not have a Sovereign Wealth Fund.

Privatization Program

Georgia’s government has privatized most large SOEs.  Successful privatization projects include major assets in energy generation and distribution, telecommunications, water utilities, port facilities, and real estate sectors.  A list of entities available to be privatized can be found at eauction.ge .  Foreign investors are welcome to participate in privatization programs.  Additional information is also available the American Chamber of Commerce in Georgia website:  www.amcham.ge .

In 2019, the government offered mining deposits for privatization in addition to other state-owned assets through the 100 Investment Offers for Business  initiative.  Within the initiative, the government selected mineral resource deposits from various regions to sell at e-auctions .  The mineral deposits included gold and copper-polymetallic, ore, bentonite clay, volcanic slag, peat, diatomite, tuff breccia, zeolite-containing tuff, basalt, marble, limestone, underground fresh water, and carbonated mineral water.  Mining license prices vary and depend on the type of mineral resource and its price.

The National Agency of State Property, a Legal Entity of Public Law under the Ministry of Economy and Sustainable Development, manages the privatization of state property, the transfer of the right of use, and the management of SOEs.  The agency’s website ( http://nasp.gov.ge/ ) contains links to electronic auctions, proposals for investments, and other relevant information.

Additional Resources

Department of State

• Country Reports on Human Rights Practices;
• Trafficking in Persons Report;
• Guidance on Implementing the “UN Guiding Principles” for Transactions Linked to Foreign Government End-Users for Products or Services with Surveillance Capabilities;
• U.S. National Contact Point for the OECD Guidelines for Multinational Enterprises; and;
• Xinjiang Supply Chain Business Advisory 

Department of the Treasury

• OFAC Recent Actions

Department of Labor

• Findings on the Worst Forms of Child Labor Report;
• List of Goods Produced by Child Labor or Forced Labor;
• Sweat & Toil: Child Labor, Forced Labor, and Human Trafficking Around the World and;
• Comply Chain.

Climate Issues

Georgia is committed to reducing its domestic total greenhouse gas emissions by 35% below its 1990 level by 2030.  According to Georgian law on the generation and consumption of energy from renewable sources, Georgia’s renewable energy consumption should reach 35% of its total energy consumption by 2030.  There are currently no sector- or technology-specific renewable energy targets.

Georgia’s 2030 Climate Change Strategy and 2021-2023 Action Plan includes the following:

• By 2030, total greenhouse gas emissions should be lower than 29.25 metric tons of carbon dioxide equivalent; and
• Target reduction of emissions in the energy generation and transmission sector is 15%, industry sector is 5%, and transportation sector is 15% by 2030, compared to business-as-usual.

The Law on Public Private Partnerships was enacted in August 2018 in Georgia and provides a legal framework for cooperation between public and private partners, providing flexibility and exemptions for the energy sector.

Support for renewable energy measures include the following:

• A Feed-In Premium (FiP) support scheme for all renewable energy installations higher than 5MW.  Initially, the policy support scheme only applied to hydropower plants.  An amendment at the beginning of 2021 made the FiP support scheme applicable to all renewable energy projects higher than 5 MW, not just hydropower plants.
• A net-metering mechanism for self-consumption has been implemented in Georgia since 2016.  In summer 2020, the installation limit of the net metering mechanism for micro wind, solar, hydro and/or other renewable energy generators increased from 100 kW to 500 kW.
• Policy support for electric vehicles through tax reliefs and provision of free charging.
• A renewable energy auction scheme was launched in 2023.  In September the government auctioned 300MW, and in December 800MW of capacity across wind, solar, hydro, and other resources, with another 400MW of planned auctions over the coming years.

There is currently no policy support for renewable energy in heating and cooling.  Additional information about renewable energy in Georgia is available at https://www.ren21.net/wp-content/uploads/2019/05/Factsheet_Georgia-HardTalk-2021.pdf .

Resources to Report Corruption 

Contact at the government agency or agencies that are responsible for combating corruption:

Anti-Corruption Bureau
Mr. Rajden Kuprashvili, Director
Address: 7, Ingorokva street. Tbilisi
Email: rkuprashvili@acb.gov.ge

Prosecutor’s Office of Georgia
Mr. Giorgi Gochashvili, Head of Division of Criminal Prosecution of Corruption Crimes
Address: 24, Gorgasali Street, Tbilisi
Tel: +995-32-240-52-52
Email: ggochashvili@pog.gov.ge

Business Ombudsman’s Office
Mr. Otar Danelia, Ombudsman
Address: 7, Ingorokva street
Hotline: +995 32 2 282828
Email: ask@businessombudsman.ge