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AGSO: Criteria Must be set, Which Enable Foreigners to Purchase Land Plot

AGSO: Criteria Must be set, Which Enable Foreigners to Purchase Land Plot

The main theme why foreigner must be granted the right to buy land plot in our country is investment inflow, – Consulting Group of “Agro Solutions” (AGSO) regards, that concrete criteria should be determined for sale land plots to the foreigners.

Experts note, that today foreigners buy land plot to get living rights in Georgia that is why neither of land plots are cultivated.

“It might be better to indicate in the code, that land ownership must not be guaranty for a foreign citizen to grant living rights of our country”, – the Consulting Company declares and considers that major role of foreign investors has to be envisaged in country’s economy and a great role , which might be played by agriculture in this direction.

“If investments are important for us, then we should say to the investors to take commitment of making investments on the land plot which they want to buy. Maybe it is better to work to this direction and determine concrete investment volume by hectares. Georgian as well as foreign citizens will have information that if foreigner buys land plot i.e. he will make an investment and this land should not remain uncultivated. This obligation must be noted in the Revenue Service and controlled programmatically. If he fails in making investments, he will be fined. Moreover, he will not pay the fine? –the property should be deprived and sold at the auction. Moreover, investment volume might be decreased by the hectares if the foreigner will buy a special land, for instance wetlands, landslide lands and so on”, – “Agro Solutions” declares.

They consider that specific criteria, prescribed by the law, need to be given to a Public Registry on the registration of land to the foreigners. The deal creates the risk of corruption or if one group or Ministry will take the decision.

Another proposal is which envisage restrictions on small land sale to the foreigners.

“Forbidding of small areas might have a positive side. The first – larger land is purchased, he takes commitment to make bigger investment and the second – low-budget foreigners cannot buy land in Georgia. As a result, only those will be able to buy a land, which have a great opportunity to invest. Our country will have merely a benefit, “- the analysts say.

To remind, the Constitutional Commission works on the sale of land to foreigners.