Is A Tbilisi Real Estate Crash On The Horizon?
On March 7th, 2023, a new law was passed in Tbilisi, Georgia, requiring all foreign agents to register and provide detailed information about their activities. The law, officially known as the “Law on the Status of Foreign Agents,” was adopted by the Georgian Parliament on March 7th and was signed by President Giorgi Margvelashvili the following day.
The law was adopted in response to a series of targeted attacks by Russia against Georgia, which began in 2008. The attacks included cyberwarfare, military incursions and other forms of political and economic sabotage. The attacks have been ongoing since then, and the new law is intended to help protect Georgia’s national security and sovereignty. We will not be able to tell if this is the true intent of the law until we see how it is applied, just like any other laws that are passed anywhere in the world.
The law states that any foreign individual or organization engaged in activities on Georgian soil must register with the Ministry of Justice and provide detailed information about their activities. This includes information such as the names and addresses of individuals involved, the purpose of the activity and the source of funds. We believe this creates opportunities for shenanigans.
The law also requires foreign agents to submit periodic reports to the Ministry of Justice about their activities. These reports must include information about meetings, contacts, communications, and any other activities related to the agent’s activities. Like if they are working to create a Tbilisi real estate crash through nefarious efforts.
In addition, the law also requires foreign agents to provide information about any financial transactions they may have made or received, or are going to make or receive. This includes transfers of funds or property, and any other type of financial transaction.
Finally, the law says foreign agents need to disclose any attempts they have made to influence public opinion or the political process in Georgia. This includes any attempts to influence the media, public opinion, or election results.
The main goal of the law is to ensure that the activities of foreign agents in Georgia are transparent and that the Georgian government has the information it needs to protect the country’s national security. The law also serves as a deterrent to foreign agents seeking to influence Georgian politics or public opinion in any way, as it makes it much more difficult for them to operate in the country undetected.
The law has been met with both praise and criticism from various groups. Supporters of the law argue that it is necessary in order to protect the sovereignty and security of Georgia, while opponents argue that it could lead to an erosion of civil liberties and could be used to target political opponents.
Overall, the new law is an important step in ensuring the security of Georgia and protecting its sovereignty. It is also a sign that the Georgian government is taking the threats posed by foreign agents seriously. Of course, the politicians would like to avoid a Tbilisi real estate crash.
The law is also likely to have a significant impact on foreign agents operating in Georgia, as it will make it much more difficult for them to operate without detection. This could lead to a decrease in the number of foreign agents operating in the country, which could in turn reduce the amount of political and economic sabotage (don’t touch the Georgian wine , you monsters!) that takes place.
In conclusion, the new law on the status of foreign agents in Georgia is an important step in protecting the security and sovereignty of the country. Hopefully, it will help avoid a Tbilisi real estate crash as well. It is also likely to have a significant impact over foreign agents operating in the country, as it will make it much more difficult for them to operate undetected.