Law No. 473-Ic on promoting and ensuring investment activity.

This Law establishes legal basis for carrying out either foreign or local investments end ensuring their protection. The purpose of the Law is to establish legal basis for promotion of investments. Investments are all types of property and intellectual values and rights invested and used in entrepreneurial activity on the territory of Georgia for the purpose of making profit. Such values can be land, land tenancy, the right to use natural resources (including concession) and licences. Prohibition and restrictions in the sphere of carrying out investments regards manufacturing and trade of firearms, use of forest resources and subsoil without permit issued by the respective authority or without licensing and other types of activity established by the legislation currently in force. The Law consists of 4 Sections that contain 17 articles. Section 1 (arts. 1-2) lays down general provisions. Section 2 (arts. 3-4) establishes legal status of the subjects of entrepreneurial activity. Section 3 (arts. 5-6) regards promotion and registration of investments. Section 4 (arts. 7-17) regards ensuring protection of investments.