Articles

Newsletter VI: Initiatives and legislative amendments for promoting business activities in Georgia

June 2017
Legal news
Amendment to the Law of Georgia on Agricultural Land Ownership
The Georgian Parliament declared a temporary restriction on the sale of agricultural lands to foreign citizens until a constitutional ban comes into force. Respective amendments were made to the Law of Georgia on Agricultural Land Ownership on June 16, 2017.

During the moratorium, foreign nationals will not be allowed to register their property rights on agricultural lands in Georgia. The restriction does not affect the sales of lands to foreigners, predating the introduction of the moratorium.

During moratorium agricultural lands cannot be sold to:
  • Foreign citizens;
  • Foreign-registered companies;
  • Companies registered by a foreign national in Georgia.

    Full version found here: 16
                                                              


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