You may contact us at:


Mgaloblishvili Kipiani Dzidziguri
(MKD) law firm
71 Vazha Pshavela Ave.,
floor 4th, office 24
Business Center on Vazha (BCV)
0186 Tbilisi, Georgia
T: (+995 32) 2553880, 2973880
F: (+995 32) 2973884
E-mail: info@mkd.ge

Newsletter IV-V: Initiatives and legislative amendments for promoting business activities in Georgia

June 2017
Legal news
Amendments to the Law of Georgia on Insolvency Proceedings
Amendments have been made to the Law of Georgia on Insolvency Proceedings. In accordance with the revised version of the Law:

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

March 2017
Legal News
Financial sector supervision
On March 22, 2017 an important amendment was made to the organic law of Georgia “On the National Bank of Georgia”, in accordance to which the NBG is restored as an entity, responsible for the financial sector oversight.  Related changes have been introduced into various sector-specific laws, including:

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

February 2017
Legal News
New regulations to improve payment system in Georgia
New regulations concerning the registration of payment system providers adopted by the National Bank of Georgia (NBG) will come into force from March 16. Regulatory updates aim to provide transparency and protection of customers’ rights. In order to achieve these goals, the payment service providers will be obliged to respond and react to customers’ complains within seven working days.

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

December 2016 - January 2017
Legal News
Amendments to the Organic Law of Georgia on the National Bank of Georgia
On  December 29, 2016, the Parliament of Georgia enacted important changes to the Organic Law of Georgia on the National Bank of Georgia. The changes enable the National Bank of Georgia to operate more effectively to protect the interests/rights of consumers. Provisions 2¹ and 2² have been added to Article 34, which will enter into force on  July 1, 2017, stipulating that:  if property or/and service is offered or/and advertised for  sale  by  the  entrepreneur  on  the  territory  of Georgia  the price of the property/service shall be expressed solely in GEL.

Newsletter VIII-IX: Initiatives and legislative amendments for promoting business activities in Georgia

August-September 2016
Regulations on the Issuance, Public Offering and Placement of the Bonds
On August 5, 2016 the President of the National Bank of Georgia approved the Regulations on the Issuance, Public Offering and Placement of the Bonds (Order N79/04). The Order sets forth the rules for offering the bonds, identifies the requisites for the emission prospectus and the public offering statement, regulates the registration of the final prospectus and amendments thereto during the public offering; the Order also defines the timeline for bond issuance report submission.

Newsletter VI-VII: Initiatives and Legislative Amendments for Promoting Business Activities in Georgia

June-July 2016
Amendments to the Law of Georgia on Entrepreneurs
On June 8, 2016 there were adopted amendments to the Law on Entrepreneurs, according to which:
                                                              


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