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Special Report: Legislation
June 8, 2017

TAX & LAW BRIEF


PwC Georgia

THE DRAFT AMENDMENTS TO THE LAW OF GEORGIA ON AGRICULTURAL LAND OWNERSHIP

The draft amendment has been submitted to the Parliament according to which the following persons may have the ownership right on the agricultural land:

a) A state, a municipality, a legal entity of public law, a citizen of Georgia, household, a legal entity registered in Georgia whose more than 50% shareholder is a citizen of Georgia or a legal entity established by a citizen of Georgia; Commercial bank or microfinance organization, as well as an international financial institution established under Georgian legislation.

b) A foreign individual if he meets one of the following criteria:

- He has a permanent or investment residence permit;

- The land has been obtained through heritage;

- The co-ownership of the land is obtained through a marriage with a citizen of Georgia or as a result of being household member that is formed by the Georgian citizens.

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© 2017 PwC Georgia


PwC is one of the world’s largest providers of assurance, tax, and business consulting services. PwC has been serving clients in Georgia since 1996, and in July 2005, opened an office in Tbilisi, which now employs over 60 professionals. We have built up our position as supplier of professional services operating with integrity in accordance with the highest ethical standards and, as a result, we now play an important role in developing the business community in Georgia.

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