The American Chamber of Commerce in Georgia has comments on the amendments developed by the government to the law on agricultural land ownership.
The AmCham Georgia explains that Moratorium for foreigners to register agricultural land in ownership on December 31, 2014. The government has prepared a new document that includes fewer restrictions for foreigners.
They say in the AmCham that through the efforts of their association, the business ombudsman and other entities the amendments provide less restrictions: resident natural persons are entitled to purchase up to 5- 20 hectares of land, the companies have the right to acquire 20- 200 hectares of land.
The AmCham points out that it’s unclear how the public register will behave if the companies want to purchase less amount of land that the prescribed limits.
In this regard, the American Chamber of Commerce addressed the Georgian Parliament with a special letter.