Georgian Parliament passes FARA analogue in final reading

Georgian Parliament on Tuesday approved the Foreign Agents Registration Act (FARA) in its third reading, with 86 members of Parliament voting in favour of the legislation.

During the voting process, the Parliament Speaker Shalva Papuashvili emphasised that the adopted law was a precise replica of the American standard and legislation.

With the amendments adopted, the Anti-Corruption Bureau will be responsible for the enforcement and monitoring of the law, and it must submit a report to the Parliament every six months.

According to the law, individuals and legal entities receiving foreign funding will be required to submit documents to the Anti-Corruption Bureau.

The ruling Georgian Dream party stresses that FARA is the best mechanism for ensuring transparency and preventing external influences.

Under the newly approved legislation, the framework for registering as a foreign principal’s agent is outlined. Specifically, the law regulates the application process for registration, ensures public access to relevant documentation, mandates the submission of annual financial declarations by registered entities, and defines conditions for the revocation of registration.

Furthermore, the legislation includes provisions for monitoring entities to determine compliance with the law and identify foreign principal agents.

Failure to register as a foreign principal’s agent or non-compliance with the law’s requirements will result in criminal liability.