Investors Handbook. A Legal Guide to Business in Georgia
agricultural land and sharing of movable property owned by the State) may be a Georgian or
foreign citizen or legal person of private law or an association of persons in which the share of
State or the local self-government body is less than 25%.
2. A Georgian citizen or legal person of private law registered in Georgia is allowed to priva-
tize the State owned agricultural land against the payment, while the Georgian Apostolic Auto-
cephalous Orthodox Church and homeless Georgian citizens who lived or is living on the occu-
pied territories may privatize agricultural land free of charge.
Article 31. The rule of conclusion of transaction for privatization of State owned immovables
1. When privatizing the State owned immovable thing, a purchase agreement is signed be-
tween the entity conducting privatization and the buyer. The agreement is the basis for registra-
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