The Parliament has passed the so-called “FARA” bill in its third and final reading. Initiated by the Georgian Dream faction, the bill was approved with 86 votes.
During the session, Speaker of Parliament Shalva Papuashvili remarked, “A law identical to the American standard has been adopted.”
The final legislation, titled the “Foreign Agents Registration Act,” was passed alongside amendments to the Criminal Code. The law mandates the registration of entities as agents of foreign principals, with enforcement assigned to the Anti-Corruption Bureau.
Under the Georgian Dream-backed legislation, the terms “foreign principal’s agent” and “foreign power” are defined. The bill outlines:
- The registration process for foreign principal’s agents and transparency requirements for related documents.
- The obligation for registered agents to submit an annual financial declaration.
- The procedures for deregistration.
- Monitoring mechanisms to identify foreign principal’s agents and ensure compliance.
Failure to register or comply with the law will result in criminal liability.
