The parliamentary hearings regarding the Legislative Package on the ownership of agricultural land continue. The document went through several revisions. According to the original version of legislative changes, financial institutions, which have foreigners (legal entities registered abroad) as their dominant financial partners, had to sell the agricultural land within the two years after this law enters into force. Now this restriction has been abolished.
According to the new version, foreigners will still be obliged to sell the land, whereas the same conditions are not applicable for Georgians. Chair of the Sector Economy Committee of the Parliament of Georgia, Roman Kakulia assessed this part of the law in “Business Course” show by stating that the law shouldn’t be discriminatory:
“There might be the need for clarification. We are ready for discussion. Formulation shouldn’t be discriminatory and this should be clear. We have already explained the motivation in regards to foreigners using our land for agricultural purposes. Everything in this law that leaves the space for interpretation should be clarified. Second hearing of this law shouldn’t pass without all the aspects being clarified”, stated Roman Kakulia.
The author of the legislative package on the ownership of agricultural land is the Chair of Agrarian Issues Committee of the Parliament of Georgia, Otar Danelia. According to the draft law, foreigners who own agricultural lands will have to pay fines if they don’t cultivate anything on it.
