Navigating the complex landscape of international sanctions and export controls is one of the most significant compliance challenges for businesses operating in Georgia. While Georgia does not maintain its own primary sanctions lists, its key regulatory bodies, particularly in the financial and customs sectors, actively enforce sanctions imposed by the United States (OFAC), the European Union, and the United Kingdom. Non-compliance, even if inadvertent, exposes businesses to severe risks, including financial penalties, the freezing of assets, and exclusion from the global financial system. Our firm provides critical legal guidance to ensure your operations remain fully compliant.
Our sanctions compliance practice is focused on the practical implementation of these foreign regulations within Georgia's legal framework. We advise clients on the specific directives from the National Bank of Georgia (NBG), which mandate that all Georgian financial institutions screen, identify, and block transactions involving sanctioned parties. We provide detailed analysis of these obligations, conduct risk assessments for your business, and design robust internal compliance programs (ICPs) to ensure you meet all regulatory screening and reporting requirements.
For businesses engaged in trade, our expertise extends to the stringent controls enforced by the Revenue Service of Georgia. The Revenue Service maintains strict customs control over goods subject to international sanctions, particularly those destined for or transiting through high-risk jurisdictions. We provide precise legal counsel on goods classification and the permissibility of transactions. This includes navigating the Law of Georgia on Control of Export and Import Products of Armament, Military Equipment, and Dual-Use Items. We guide clients through the entire permitting and licensing process for dual-use goods, ensuring that all exports, re-exports, and transit operations have the required authorization.
Legal Sandbox Georgia acts as your strategic partner in mitigating these high-stakes risks. Our services include performing critical sanctions due diligence on counterparties and ultimate beneficial owners (UBOs), interpreting complex ownership and control rules (e.g., the OFAC 50% Rule), and providing immediate legal support in the event of a transaction freeze or regulatory inquiry. We bridge the gap between complex international legal regimes and their direct enforcement on the ground in Georgia.
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