Georgia strengthened its secured transactions system through an amendment to the civil code allowing a security interest to extend to the products, proceeds and replacements of collateral.

Georgia made paying taxes easier for companies by enhancing the use of electronic systems and providing more services to taxpayers.

 

Georgia reduced the time to export and im-port by creating customs clearance zones.

Georgia made enforcing contracts easier by simplifying and speeding up the proceedings for commercial disputes.

 

Georgia expedited the process of resolving insolvency by establishing or tightening time limits for all insolvency-related procedures, including auctions.

Conclusion

Georgia was a new entrant to the top 10 of 185 economies worldwide regarding ease of doing business. In the registration of property Georgia compares favorably, for the simplicity and reasonable cost of its processes. Enforcing claims in Georgia remains a time-consuming and somewhat costly effort.

Detailed PFS Georgia High Level Financial Sector Overview Oct 2012 can be downloaded here.

Detailed PFS Regional Benchmarking Report Oct 2012 can be downloaded here.