Regulatory Compliance is a fundamental service for any business operating in Georgia. It entails the full alignment of a company's activities with current legislation, regulations, and standards. The Georgian legal environment is dynamic and frequently changing, making it difficult for businesses to timely reflect all updates in their operations. Non-compliance leads to severe financial fines, license suspension, and reputational damage. The Regulatory Compliance service is a preventive measure — a "health check" for the business that identifies risks before they are detected by state inspectors (e.g., Labor Inspection, Revenue Service, Personal Data Protection Service). This service covers both general corporate compliance and specific sectoral regulations (e.g., banking, energy, pharmaceutical).
What does this service cover?
The Regulatory Compliance service is comprehensive and tailored to specific business needs:
- Legal Audit: Reviewing the company's existing documentation, contracts, and processes for compliance with the law (Gap Analysis).
- Policy and Procedure Development: Creating and implementing internal regulations (internal labor rules, code of ethics, data protection policy).
- Regulatory Monitoring: Informing the client about new laws affecting their business (e.g., new requirements of the Law on Labor Safety).
- License and Permit Management: Obtaining and renewing necessary licenses and monitoring compliance with license conditions.
- Employee Training: Training staff on compliance issues (e.g., anti-corruption behavior, confidentiality).
Common Real-World Scenarios
Compliance services are essential in cases such as:
- Labor Inspection Audit: A company lacks labor safety standards. A lawyer helps quickly set up the system to avoid fines.
- Personal Data: During a marketing campaign, a company collects user data. Compliance with Georgian legislation aimed at GDPR standards is mandatory.
- Tax Compliance: A company starts a new activity (e.g., e-commerce) and needs precise determination of the tax regime.
- Anti-Money Laundering (AML): Real estate agents and accountants are now obligated to monitor transactions. They need internal guidelines drafted.
Georgian Legal Framework
The compliance field is regulated by numerous laws. Universal are the Civil Code of Georgia, the Law on Entrepreneurs, and the Tax Code. For specific areas, the Labor Code, the Law on Personal Data Protection, and the Law on Facilitating the Prevention of Money Laundering apply. Also important are normative acts from the National Bank, Communications Commission, and GNERC (energy) for regulated sectors.
Process: How does a specialist work?
The process starts with diagnostics — the lawyer familiarizes themselves with the company's activities and creates a "Risk Map." Then an action plan is written: documents to be created, processes to be changed. The lawyer works with management to implement new rules. Periodic "control checks" are conducted to ensure the system works.
Why Legal.ge?
Ignorance of the law excuses no one. On Legal.ge, you will find corporate lawyers and Compliance Officers with experience in various industries. We do not just offer problem-solving; we offer a system that prevents problems. Run your business peacefully and legally.
Updated: ...