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The investment law in Georgia, specifically in Tbilisi, encourages foreign and local investments by providing a legislative framework that offers various incentives, protections, and guarantees. The law aims to offer a productive environment for investors through simplification of licensing and permit processes, ensuring transparent and equitable treatment, safeguarding of assets, and guarantee against unlawful nationalization or confiscation.
Investment in Tbilisi, Georgia, although quite welcoming, can become complicated, particularly for those unfamiliar with the local law. Common situations where legal help may be required include: navigating local regulations and norms for setting up a business, understanding the tax system, handling any property purchase or lease, dealing with disputes or legal action, and acquiring official permissions for certain types of investments. A local lawyer experienced in investment law can support in overcoming these challenges efficiently.
Key aspects of local laws relevant to investment in Tbilisi include the Law of Georgia on Promotion and Guarantees of Investments. This law ensures equal treatment for all investors and guarantees against nationalization. Also, Georgia’s tax law provides favorable tax rates, with corporate income tax only payable upon profit distribution. In addition, the Law on Licenses and Permits streamlines procedures for obtaining necessary official permissions. There are also specific laws regarding real estate, lease, copyright, and intellectual property that may impact certain types of investments.
Tbilisi, and Georgia overall, is quite welcoming towards foreign investments offering multiple incentives and a business-friendly environment.
No, there are no specific sector-based restrictions, although a few activities such as defense, aviation, and others might require additional permissions.
Primarily, low corporate tax rates as well as the tax being applicable only upon profit distribution are key advantages of Georgian tax law.
Investment law ensures that no investment, local or foreign, can be unlawfully nationalized or confiscated without due compensation.
Yes, foreign investors can acquire non-agricultural land; however, they may need legal assistance to navigate the process.
The Ministry of Economy and Sustainable Development and the National Investment Agency of Georgia are key resources for investors. They provide detailed guides and helpful materials related to Investment laws and norms including any recent changes to the legal framework.
If someone needs legal assistance in Investment, they can engage a local law firm or independent lawyer specializing in Georgian law, ideally with experience in their specific sector of interest. They can also approach the Georgian Bar Association for approved legal practitioners or law firms.
