On June 20, a follow-up joint meeting took place in Tbilisi between the Company Law Working Group of the Investors Council (IC) and the Commercial and Tax Law Committee (CLTC) of the American Chamber of Commerce in Georgia. The meeting continued discussions of the workshop held in May in Borjomi and focused on improving key parts of the planned corporate law reforms, especially in line with EU legal standards.
During the meeting, participants discussed in detail the latest version of the draft amendments to the Law of Georgia on Entrepreneurs. The main topics were the rights of shareholders to access information and the procedures that protect those rights, as well as the capital structure of companies.
The participants agreed on the final text of the proposed amendments. This version will be sent to the Ministry of Justice for the next steps in the legislative process. The two groups also agreed to work together on new recommendations and draft changes related to digital tools in company operations. The goal is not only to fulfill the requirements of the EU Directive, but to go further by including global best practices.
In addition, the groups decided to add inclusivity and equality principles to the Law of Entrepreneurs.
Once again, the meeting confirmed the strong cooperation between the two working groups and their shared goal: to help create a transparent, innovation-driven, and EU-compatible legal system for companies in Georgia.
