Law of Georgia on Free Industrial Zones (No. 5175-RS of 2007)

This Law sets the procedure for establishing and liquidating free industrial zones, defines the procedure for managing free industrial zones and for establishing and operating the governance bodies and service/supervisory agencies within the zones. It establishes additional conditions and tax concessions for free industrial zone enterprises, as well as regulates other issues related to the zone activities. This Law aims at creating an attractive environment for economic activity, and at facilitating the capital and technology inflow into Georgia. A free industrial zone shall be a type of free zone under the Tax Code of Georgia with additional conditions and tax concessions effective within it. A free industrial zone shall be designated for economic activities for a certain period of time, and persons within the zone shall be governed under special economic and legal regime as determined by this Law. Entry into and exit from a free industrial zone, a customs checkpoint, shall be set up as determined by the tax legislation of Georgia.