Regulations of Crypto-activities in Georgia
The National Bank of Georgia has recently introduced regulations pertaining to the registration and operation of Virtual Asset Service Providers (VASPs) in the country, which came into effect on July 1, 2023. As per the approved rules, only legal entities registered with the National Bank or financial sector representatives are authorized to provide virtual asset […]
Amendments in Labour Migration Law of Georgia
The recent amendments to the Georgian Labour Migration Law have introduced a mandatory requirement for all foreign nationals employed by Georgian enterprises to be registered on a newly established labour migration information portal. This obligation applies to all legal entities, including individual entrepreneurs and limited liability companies, and non-compliance with the registration requirement within the […]
Changes to the “Customs Code of Georgia”
Changes to the “Customs Code of Georgia” — The “Customs Code of Georgia” has undergone changes with regard to the declaration of goods. Previously, there was a restriction on making changes to the temporary storage of goods and customs declaration. However, this reservation has been lifted, allowing for modifications. As a result, it is now […]
Revocation of Small Business Classification and Closure of Individual Entrepreneur Status
Revocation of Small Business Classification and Closure of Individual Entrepreneur Status The Tax Code of Georgia was amended on April 18 to allow individual entrepreneurs to revoke their small business classification before the end of the year. As per Article 89, if an individual entrepreneur applies to the tax authority for cancellation before the end […]
Ensuring Regulatory Compliance: Re-registration Demands for Companies Established Before 2022
Ensuring Regulatory Compliance: Re-registration Demands for Companies Established Before 2022 The Law of Georgia “on Entrepreneurs” was amended in January 2022, resulting in enhanced regulations for corporate governance and business transparency in the country within the entrepreneurship landscape. One salient modification pertained to companies that had been registered prior to 2022, signifying its significance in […]
Changes regarding VAT in the tourism Sector Order No. 107 on March 28, 2023
Changes regarding VAT in the tourism Sector Order No. 107 on March 28, 2023 Georgia has emerged as a prominent global destination that offers a unique blend of ancient culture, rich history, scenic landscapes, and hospitable locals. The country’s tourism industry is rapidly expanding, and the government actively supports this sector to enhance the tourism […]
