Attention Entrepreneurs: Changes in the Registration of Legal Entities in Georgia
With the entry into force of the new Law of Georgia "On Entrepreneurs" on January 1, 2022, a requirement was established according to which all entities are obliged to bring their registration data into compliance with the new law (submit the memorandum of association and the charter, brought into line with the new law/amendments to the law or use of standard charters approved by the Minister of Justice) no later than March 31, 2025.
- It should be noted that this change applies to all forms of business entities, as well as non-entrepreneurial (non-commercial) legal entities.
To bring the business into compliance with the new law, the head or authorized person of the entity must apply to the Public Registry with the charter and memorandum of association brought into compliance with the law (it is also possible to register standard charters, during which the memorandum of association and the charter of the Public Registry itself are used, so there is no need to additionally submit these documents).
According to the above law, after March 31, 2025, the registration authority will assign an additional period of 3 months to a person who has not submitted/failed to bring the constituent documents/registration information into compliance with the new law before March 31, 2025. If the subject fails to ensure that the registration data complies with the law even within this period, its registration will be considered cancelled.
Author: Iashagyan Oksana
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