{"id":847,"date":"2026-05-23T19:38:05","date_gmt":"2026-05-23T15:38:05","guid":{"rendered":"https:\/\/unionlegal.ge\/?p=847"},"modified":"2026-05-23T22:58:46","modified_gmt":"2026-05-23T18:58:46","slug":"elementor-847","status":"publish","type":"post","link":"https:\/\/unionlegal.ge\/en\/elementor-847\/","title":{"rendered":"March 2026 Legal Insights and Regulatory Developments"},"content":{"rendered":"
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

March 2026 Legal Insights and Regulatory Developments<\/h1>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Tax Legislation Updates<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Changes in Excise Rates for Motor Vehicles<\/h3>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

On April 1, 2026, the Parliament of Georgia introduced amendments to the Tax Code. The changes primarily concern the rules for excise taxation of vehicles and motorcycles based on their age and steering wheel position.<\/p>

According to the amendments:<\/p>

  • \u2022\tFor vehicles aged 0 to 6 years inclusive, the excise rate is set at 1.50 GEL per 1 cm\u00b3 of engine capacity, while for vehicles manufactured more than 6 years ago \u2014 4.50 GEL;<\/li>
  • \u2022\tIn the case of left-hand drive hybrid vehicles aged 0 to 6 years, the excise rate is reduced by 60 percent;<\/li>
  • \u2022\tFor right-hand drive or steering-converted vehicles, the excise rate shall be triple the standard rate;<\/li>
  • \u2022\tFor right-hand drive or steering-converted electric vehicles, the excise rate is set at a fixed 3,000 GEL;<\/li>
  • \u2022\tThe age of the vehicle is determined as the difference between the year of taxation (or import) and the year of manufacture;<\/li>
  • \u2022\tVehicles for which transportation or registration began before April 2, 2026, will be taxed at the old rate (subject to the presentation of relevant documentation).<\/li><\/ul>

    The law entered into force immediately upon publication, from April 2, 2026.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

    \n\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t

    Other Legal Updates<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t\t

    Law of Georgia \u201cOn Factoring\u201d<\/h3>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
    \n\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    On April 1, 2026, the Parliament of Georgia adopted the Law of Georgia \u201cOn Factoring,\u201d which was officially published on April 6, 2026. The new legislative act establishes, for the first time in Georgia, a unified and special legal framework for factoring activities.<\/p>

    The Law defines the concept of factoring, its participating parties, their rights and obligations, the form of transactions, registration procedures, as well as the foundations for the operation of factoring companies. The purpose of the Law is to regulate transactions whereby a claim arising from an underlying contract is assigned to a third party in exchange for corresponding remuneration.<\/p>

    According to the Law, factoring is a transaction under which an accounts receivable claim arising from an underlying contract is transferred to a factor, and such transfer is registered in a special registry. As a result of registration, ownership rights to the claim are transferred to the factor.<\/p>

    The right to conduct factoring activities shall be granted only to specifically designated entities. The Law identifies such entities as commercial banks, microbanks, microfinance organizations, and factoring companies. In turn, a factoring company may only be a legal entity established in the form of a limited liability company or joint stock company and registered with the National Bank of Georgia. The Law also establishes that the minimum paid-in capital and equity of such company shall be no less than GEL 300,000.<\/p>

    The new regulation also provides for the institution of a factoring platform. This is an electronic platform through which it will be possible to organize factoring transactions, attract financing, and execute transactions in an automated manner. Such platforms shall also be subject to registration and supervision.<\/p>

    The Law also establishes a factoring registry, which shall be maintained by the National Agency of Public Registry. The registry shall contain information regarding factoring agreements, assignment of claims, parties, remuneration, and fulfillment of obligations. Only the factor shall have the right to apply to the registry for the purpose of registering the relevant transaction.<\/p>

    The Law provides for several forms of factoring. In particular, factoring with recourse rights is possible, whereby in case of the debtor\u2019s non-performance the factor may present a claim to the assignor, as well as factoring without recourse rights. In addition, so-called reverse factoring is also regulated, where the debtor itself is the initiator.<\/p>

    The National Bank of Georgia is designated as the supervisory authority for factoring companies and platforms, and has been granted powers relating to registration, control, imposition of additional requirements, and application of sanctions. The Law also provides for requirements related to reporting, internal control, audit, and prevention of money laundering.<\/p>

    According to the Law, its transitional and organizational provisions entered into force upon publication, while the main provisions relating to the actual conduct of factoring activities shall enter into force on January 1, 2027. By the same deadline, the National Bank of Georgia is required to adopt the relevant subordinate normative acts regulating registration, reporting, capital requirements, and other practical matters.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

    \n\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t

    The National Bank of Georgia Adopted New Regulation on Initial Offering of Stable Virtual Assets<\/h3>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
    \n\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    On March 6, 2026, by Order No. 52\/04 of the President of the National Bank of Georgia, the Rule on the Initial Offering of Stable Virtual Assets by a Virtual Asset Service Provider was approved, which comprehensively regulates the legal framework for the issuance and offering of stable virtual assets (so-called stablecoins) in Georgia.<\/p>

    The Rule applies to virtual asset service providers registered by the National Bank of Georgia that wish to issue a stable virtual asset and conduct its initial offering in Georgia. Under the regulation, the initial offering of a stable virtual asset is prohibited without the prior written consent of the National Bank, meaning that such products may only be introduced to the market following prior supervisory review and compliance assessment.<\/p>

    The Rule defines a stable virtual asset as a convertible virtual asset whose value is pegged to the Georgian lari, a foreign currency, or another asset, and whose stability is ensured by corresponding reserve assets. In this way, the National Bank creates a clear legal distinction between ordinary crypto-assets and tokens designed to maintain value stability.<\/p>

    One of the key requirements of the regulation is that the issuer must at all times maintain reserve assets in an amount fully covering the nominal value of the stable virtual assets in circulation. In addition, a minimum supervisory capital requirement has been established in the amount of GEL 500,000, while capital requirements increase in proportion to the growth of business volume.<\/p>

    An important innovation is the clear regulation of the user\u2019s redemption right. The holder of a stable virtual asset may at any time request redemption of the asset at its corresponding value, and the issuer is obliged to satisfy such request within the timeframes established.<\/p>

    The regulation also places special emphasis on corporate governance, internal controls, and transparency. For large issuers, it is mandatory to have a supervisory board within the governance structure, audit mechanisms, and risk management systems. Furthermore, companies are required to regularly publish information regarding the volume and structure of reserves, as well as submit quarterly and annual audited reports.<\/p>

    Prior to issuing a stable virtual asset, the issuer must prepare a special offering document, which is subject to approval by the National Bank. This document must contain information regarding the issuer, the technological model of the token, reserves, risks, redemption terms, and other material circumstances relevant to users. This requirement is intended to ensure that potential users or investors make decisions on the basis of complete information.<\/p>

    The transitional provisions of the Rule establish that the regulation shall apply to initial offerings conducted after its entry into force. Providers already operating in this field shall be granted a six-month period to submit the required documentation and compliance materials. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

    \n\t\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

    2026 \u10ec\u10da\u10d8\u10e1 \u10db\u10d0\u10e0\u10e2\u10d8\u10e1 \u10d7\u10d5\u10d8\u10e1 \u10e1\u10d0\u10db\u10d0\u10e0\u10d7\u10da\u10d4\u10d1\u10e0\u10d8\u10d5\u10d8 \u10e1\u10d8\u10d0\u10ee\u10da\u10d4\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10db\u10dd\u10ee\u10d8\u10da\u10d5\u10d0 \u10ea\u10d5\u10da\u10d8\u10da\u10d4\u10d1\u10d4\u10d1\u10d8 \u10e1\u10d0\u10d2\u10d0\u10d3\u10d0\u10e1\u10d0\u10ee\u10d0\u10d3\u10dd \u10d9\u10d0\u10dc\u10dd\u10dc\u10db\u10d3\u10d4\u10d1\u10da\u10dd\u10d1\u10d0\u10e8\u10d8 \u10ea\u10d5\u10da\u10d8\u10da\u10d4\u10d1\u10d4\u10d1\u10d8 \u10d0\u10d5\u10e2\u10dd\u10e1\u10d0\u10e2\u10e0\u10d0\u10dc\u10e1\u10de\u10dd\u10e0\u10e2\u10dd \u10e1\u10d0\u10e8\u10e3\u10d0\u10da\u10d4\u10d1\u10d4\u10d1\u10d8\u10e1 \u10d0\u10e5\u10ea\u10d8\u10d6\u10d8\u10e1 \u10d2\u10d0\u10dc\u10d0\u10d9\u10d5\u10d4\u10d7\u10d4\u10d1\u10e8\u10d8 2026 \u10ec\u10da\u10d8\u10e1 1 \u10d0\u10de\u10e0\u10d8\u10da\u10e1 \u10e1\u10d0\u10e5\u10d0\u10e0\u10d7\u10d5\u10d4\u10da\u10dd\u10e1 \u10de\u10d0\u10e0\u10da\u10d0\u10db\u10d4\u10dc\u10e2\u10db\u10d0 \u10ea\u10d5\u10da\u10d8\u10da\u10d4\u10d1\u10d4\u10d1\u10d8 \u10e8\u10d4\u10d8\u10e2\u10d0\u10dc\u10d0 \u10e1\u10d0\u10d2\u10d0\u10d3\u10d0\u10e1\u10d0\u10ee\u10d0\u10d3\u10dd \u10d9\u10dd\u10d3\u10d4\u10e5\u10e1\u10e8\u10d8. \u10ea\u10d5\u10da\u10d8\u10da\u10d4\u10d1\u10d4\u10d1\u10d8 \u10eb\u10d8\u10e0\u10d8\u10d7\u10d0\u10d3\u10d0\u10d3 \u10d4\u10ee\u10d4\u10d1\u10d0 \u10db\u10e1\u10e3\u10d1\u10e3\u10e5\u10d8 \u10d0\u10d5\u10e2\u10dd\u10db\u10dd\u10d1\u10d8\u10da\u10d4\u10d1\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10db\u10dd\u10e2\u10dd\u10ea\u10d8\u10d9\u10da\u10d4\u10d1\u10d8\u10e1 \u10d0\u10e5\u10ea\u10d8\u10d6\u10d8\u10d7 \u10d3\u10d0\u10d1\u10d4\u10d2\u10d5\u10e0\u10d8\u10e1 \u10ec\u10d4\u10e1\u10e1 \u10db\u10d0\u10d7\u10d8 \u10d0\u10e1\u10d0\u10d9\u10d8\u10e1\u10d0 \u10d3\u10d0 \u10e1\u10d0\u10ed\u10d8\u10e1 \u10db\u10d3\u10d4\u10d1\u10d0\u10e0\u10d4\u10dd\u10d1\u10d8\u10e1 \u10db\u10d8\u10ee\u10d4\u10d3\u10d5\u10d8\u10d7. \u10ea\u10d5\u10da\u10d8\u10da\u10d4\u10d1\u10d4\u10d1\u10d8\u10e1 \u10db\u10d8\u10ee\u10d4\u10d3\u10d5\u10d8\u10d7: 0-\u10d3\u10d0\u10dc 6 \u10ec\u10da\u10d8\u10e1 \u10e9\u10d0\u10d7\u10d5\u10da\u10d8\u10d7 \u10d0\u10e1\u10d0\u10d9\u10d8\u10e1 \u10d0\u10d5\u10e2\u10dd\u10db\u10dd\u10d1\u10d8\u10da\u10d4\u10d1\u10d8\u10e1\u10d7\u10d5\u10d8\u10e1 \u10d0\u10e5\u10ea\u10d8\u10d6\u10d8\u10e1 \u10d2\u10d0\u10dc\u10d0\u10d9\u10d5\u10d4\u10d7\u10d8 \u10d2\u10d0\u10dc\u10d8\u10e1\u10d0\u10d6\u10e6\u10d5\u10e0\u10d0 1.50 \u10da\u10d0\u10e0\u10d8\u10d7 \u10eb\u10e0\u10d0\u10d5\u10d8\u10e1 […]<\/p>\n","protected":false},"author":1,"featured_media":660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-10"],"_links":{"self":[{"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/posts\/847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/comments?post=847"}],"version-history":[{"count":14,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/posts\/847\/revisions"}],"predecessor-version":[{"id":864,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/posts\/847\/revisions\/864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/media\/660"}],"wp:attachment":[{"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/media?parent=847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/categories?post=847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unionlegal.ge\/en\/wp-json\/wp\/v2\/tags?post=847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}