Georgia — Property: Foreign Ownership

Key facts

• Under the Organic Law on Agricultural Land Ownership (adopted 25 June 2019), agricultural land may be owned by the state, municipalities, Georgian citizens and Georgian-registered private entities whose dominant partner is one of those.
• A foreign individual ('alien') may own agricultural land only by inheritance (Art. 4(2)(a)).
• A foreign-controlled entity may own it only under an investment plan approved by a Government of Georgia decision (Art. 4(2)(b)).
• Agricultural land cannot be pledged on the condition that ownership passes to an alien or foreign-controlled entity, and such claims cannot be assigned to them (Art. 6).
• If investment-plan obligations are not met, the land must be sold within one year after the authorised body's decision, and unsold land transfers to the state (Art. 5).
• Certain international and Georgian financial institutions are exempt, including when a creditor takes collateral, and titles lawfully registered before the law took effect are not affected (Art. 10).
• Agricultural land means pasture, hayfield, arable land (including perennial crops) or homestead land used or usable for agriculture; a dominant partner holds more than 50% of equity or can decisively influence the entity.
• The law page does not address foreign ownership of non-agricultural property.

Steps

1. Determining Eligibility — Research the specific regulations and restrictions that apply to foreign ownership of property in Georgia, such as any areas or purposes that are off-limits.