Our Asset Administration service provides the formal legal and procedural framework necessary for the diligent oversight of your tangible assets in Georgia. This essential service is structured as the definitive solution for absentee owners, foreign investors, and expatriates who face the significant challenges of managing property from afar. We transform passive ownership into a proactive and legally sound stewardship, ensuring every administrative action is executed with precision, authority, and in full accordance with Georgian law. Our primary mandate is to function as your trusted representative on the ground, securing your asset, managing all official interactions on your behalf, and maintaining the property's legal and physical integrity with unwavering professionalism.
The cornerstone of this service is the establishment of formal legal representation through a Power of Attorney, a mechanism strictly governed by the Civil Code of Georgia. This is not a generic authorization; it is a customized legal instrument meticulously drafted to grant us specific and clearly delineated authority tailored to your exact needs. We can be empowered to represent you before all necessary entities, including Georgian banks for account management, the LEPL National Agency of Public Registry (NAPR) for all property title and registration matters, and various state and municipal authorities for permits and compliance. This legal authority enables us to sign official documents, submit applications, receive correspondence, and resolve administrative issues efficiently, providing a seamless and legally compliant bridge over any geographical distance.
A critical component of asset protection involves establishing legally robust contractual relationships with any third parties responsible for the asset's care and maintenance. We go beyond simple agreements by drafting, negotiating, and overseeing legally enforceable contracts for property managers, caretakers, security firms, and construction contractors. These documents are prepared to define precise duties, service level agreements (SLAs), performance standards, payment milestones, and clear liabilities. This ensures that all service providers are held to a professional standard and that your interests are protected through explicit legal recourse in the event of non-performance or negligence, thereby safeguarding both the physical condition and the financial value of your property.
Our administrative duties include comprehensive physical oversight to ensure your asset is properly preserved. We coordinate and document periodic property inspections to monitor its condition, proactively identifying maintenance needs before they escalate into costly problems. Our team manages relationships with vetted service providers and contractors to execute necessary repairs or upgrades, ensuring quality work at fair market rates. We also handle the direct management of all utility accounts, such as those with Telasi and Georgian Water and Power, ensuring continuous service and preventing arrears or disconnections that could impact the property's functionality and value.
Furthermore, our oversight extends to the meticulous management of your asset's statutory and financial obligations. We diligently manage the entire process of property tax compliance according to the Tax Code of Georgia, from declaration to timely payment, thus avoiding any penalties or encumbrances on your title. We also oversee all insurance policies related to the property, ensuring that adequate coverage for fire, liability, and other risks is in place and remains valid. This involves reviewing policy terms to confirm they align with the asset’s value and your risk tolerance. This proactive management of financial and physical upkeep ensures your asset remains fully compliant, free from liens, and secure in your ownership.
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