Best Board of Investment (BOI) Lawyers in Tbilisi

About Board of Investment (BOI) Law in Tbilisi, Georgia

In Tbilisi, Georgia, the Board of Investment (BOI) law encompasses the legal framework regulating foreign and domestic investments in various sectors. It's designed to support and promote the city's economic growth and attract both local and international investors. The BOI provides necessary aid to complicated investment processes, such as business registration, securing permits, obtaining business concessions, and more.

Why You May Need a Lawyer

Legal advice is often necessary for prospective investors because of the complexity and variable nature of investment laws. Whether you're a domestic or a foreign investor, comprehending legal jargons, understanding investment incentives, navigating through legal processes, or facing dispute resolution, a lawyer with expertise in investment law can guide you. They can offer invaluable advice on legal implications, potential risks, tax liabilities, and ensure compliance with the local laws.

Local Laws Overview

The Georgian law on Investment promotes economic growth by ensuring protection and favourable conditions for investors. Key aspects include non-discrimination (national and foreign investors are treated equally), optimal protection (protection against subsequent changes in legislation), full protection and security of investments, freedom of transfers (investors can legitimately move their investments and incomes from Georgia without restrictions), and dispute resolution mechanisms.

Frequently Asked Questions

1. Can foreign investors own property in Georgia?

Yes, the Georgian law allows foreign investors to purchase and own property in the country, including Tbilisi.

2. Are there any investment sectors where foreign investment is restricted?

No, there are no specific restrictions for foreign investments in any sector according to Georgian law.

3. How is the dispute resolution mechanism structured for investments in Tbilisi, Georgia?

Any disputes arising from investments in Georgia can be resolved locally within the courts, or through international arbitration bodies, which Georgia is a part of.

4. What are the key incentives for investors in Tbilisi?

The key incentives include free trade agreements with international markets, competitive costs, strategic location, and a business-friendly environment.

5. What is the corporate tax system like in Tbilisi?

There is a 15% Corporate Income Tax applicable only to distributed profits.

6. What's the process for setting up a foreign investment?

Setting up a foreign investment involves business registration and obtaining necessary permits and licenses. It's generally recommended to obtain legal advice for this process.

7. Are there any specific sustainably responsible investment (SRI) laws in place?

While there is no specific SRI law, corporate social responsibility is encouraged within Georgia's investment framework.

8. How can an investor protect itself from changes in legislation?

Georgia law offers a ‘stability clause’ that ensures protection against any adverse effects of subsequent changes in legislation on the investor for a period of 10 years.

9. Can investors repatriate profits?

Yes, investors may freely transfer their profits out of Georgia without restrictions or additional taxes.

10. What is the general attitude towards foreign investment?

There is a welcoming attitude towards foreign investment in Tbilisi, as it has been identified as a key driver of economic growth and development.

Additional Resources

Invest Georgia and Enterprise Georgia are governmental organizations that offer comprehensive resources for investors. Non-governmental organizations like the American Chamber of Commerce in Georgia also provide valuable resources. It's advisable to be aware of and comprehend Georgia's Investment Charter, which clearly outlines investor's rights and responsibilities.

Next Steps

If you require legal assistance in Board of Investment matters in Tbilisi, Georgia, it's best to seek out an experienced lawyer specializing in investment law. They can help you understand the intricacies of the local legal system, ensure your compliance with it, guide you through various processes, and potentially save you major legal issues down the road.