Georgia RISK & COMPLIANCE REPORT DATE: March 2018
Georgia RISK & COMPLIANCE REPORT DATE: March 2018 KNOWYOURCOUNTRY.COM Executive Summary - Georgia Sanctions: None FAFT list of AML No Deficient Countries US Dept of State Money Laundering Assessment Higher Risk Areas: Not on EU White list equivalent jurisdictions Failed States Index (Political Issues)(Average Score) Non - Compliance with FATF 40 + 9 Recommendations Medium Risk Areas: Corruption Index (Transparency International & W.G.I.) World Governance Indicators (Average Score) Major Investment Areas: Agriculture - products: citrus, grapes, tea, hazelnuts, vegetables; livestock Industries: steel, machine tools, electrical appliances, mining (manganese, copper, and gold), chemicals, wood products, wine Exports - commodities: vehicles, ferro-alloys, fertilizers, nuts, scrap metal, gold, copper ores Exports - partners: Azerbaijan 13.8%, US 8.5%, Germany 8.3%, Bulgaria 7.4%, Kazakhstan 7%, Turkey 6.4%, Ukraine 6.3%, Lebanon 5.7%, Canada 4.2% (2012) Imports - commodities: fuels, vehicles, machinery and parts, grain and other foods, pharmaceuticals Imports - partners: Turkey 13.9%, China 8.2%, Ukraine 8.2%, Russia 7.4%, Azerbaijan 7.1%, US 6%, Germany 5.6%, Bulgaria 4% (2012) 1 Investment Restrictions: Georgia is open to foreign investment, and the Georgia National Investment Agency is implementing an aggressive marketing campaign to encourage more foreign investors to come to Georgia. Exceptions to national treatment may be made by Georgia for investments in maritime fisheries; air and maritime transport and related activities; ownership of broadcast, common carrier, or aeronautical radio stations; communications satellites Foreign individuals and companies are restricted from holding agricultural land in Georgia. However, according to the US Department of State 2012, there is a loophole in which agricultural land can be purchased by non-nationals and then transferred under the name of a Georgian entity; thus, land can be up to 100% foreign-owned.
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