“Bringing the entrepreneurial entity’s charter into compliance with the law.”

According to the Law of Georgia “On Entrepreneurs,” limited liability companies, joint-stock companies, limited partnerships, general partnerships, cooperatives, and branches of foreign enterprises are required to ensure that their registration data complies with the requirements of this law by April 1, 2025.

Failure to comply with this obligation before the new law comes into force will result in the suspension of the registration of the enterprise. This suspension will be indicated in the register, and extracts from the register will no longer be issued. The registering authority will provide the identification data of the enterprise to the following entities: the Revenue Service, a legal entity of public law under the Ministry of Finance of Georgia; the Service Agency of the Ministry of Internal Affairs of Georgia; and banks operating in Georgia.

The suspension of registration entails restrictions on the representative authority of the enterprise’s representative(s). It also limits the enterprise’s ability to manage property, participate in tax operations, manage existing bank accounts, open new accounts, use funds in accounts, and obtain credit.

The registration will be restored once the enterprise fulfills the obligation to bring its data into compliance with the law. The decision regarding the suspension of registration will be published as information on the registered data page of the unified electronic portal of the registering authority.