Law of Georgia on State Support for Investments (No. 3424-ES of 2006) Country/Territory Georgia Document type Legislation Date 2006 (2013) Source FAO, FAOLEX Original source 240.090.000.05.001.002.345 Subject Agricultural & rural development Keyword Business/industry/corporations Financial agricultural measures Agricultural development Internal trade International trade Institution Authorization/permit Royalties/fees Access-to-information Geographical area Asia, Black Sea, Eastern Europe, Europe, Europe and Central Asia, Western Asia Abstract This Law is intended to promote investments by improving the procedures necessary for investment and business activities and by creating an additional legal framework. This Law applies to all foreign and domestic investments made and used on the territory of Georgia. This Law determines special norms and additional support measures to encourage investments of special importance. The rights provided in this Law apply to all natural and legal persons. The Law further provides that the Government of Georgia shall provide state support for investments. The Georgian National Investment Agency (‘the Agency’) shall represent the Government of Georgia in matters related to state support for investments. The Agency shall be entitled to represent an investor in relations with administrative bodies and other persons. For this purpose, a contract shall be concluded between the investor and the Agency; the contract shall determine the scope of the representation. Under the contract concluded between the Agency and the investor, the Agency shall help the investor in obtaining all necessary licenses and/or permits for investment activity or in exercising other representative powers. The Agency shall exercise the above powers in return for a fee, except where the investment is of special importance. The service fee shall be determined in agreement with the Agency Supervisory Board. Investments of special importance shall be exempted from the service fee. The Agency’s representative authority specified in this article shall not restrict the investor from dealing with administrative bodies directly or through another representative. An investor may: (a) request the issuance of any kind of license/permit (including a preliminary license/permit) through the Agency; (b) request property acquisition and performance of all related procedures through the Agency; (c) request any information related to the issuance of a license/permit (including a preliminary license) to the investor, also information related to property acquisition and to investments; and (d) enjoy legal safeguards provided by the legislation of Georgia. In order to ensure the exercise of the rights provided in this Law, administrative bodies shall be obliged to collaborate with the Agency and investors. Full text English/Georgian Website matsne.gov.ge