Business Succession & Family Matters

Protecting the Business When an Owner’s Life Changes

The death, divorce or retirement of a business owner raises questions that general family law does not answer: who controls the company, what happens to the shares, and how the business keeps operating. We advise foreign and local owners, their families and co-shareholders on these situations in Georgia, with a focus on protecting the business and its value.

Inheritance of Company Shares

When a shareholder dies, their share in a Georgian company passes to the heirs in line with the law and the company’s charter. We guide heirs, including those living abroad, through the notary procedure, the certificate of inheritance and registration of the new owners in the Public Registry, and help the company keep its management in place during the transition.

Succession Planning for Owners

Planning ahead is the most effective way to protect a business. We prepare wills and review charters and shareholder agreements so they clearly address death, incapacity and the transfer of shares, avoiding deadlock between heirs and the remaining partners.

Business Interests in Divorce

Shares and business assets acquired during a marriage may be treated as joint property of the spouses under Georgian law. We advise owners on how a divorce may affect their company, help structure settlements that keep the business operating, and prepare marriage contracts for business owners.

Disputes Between Heirs and Shareholders

Conflicts between heirs, spouses and the remaining shareholders can paralyse a company. We negotiate practical solutions such as share buyouts and management arrangements, and represent clients in mediation or court when agreement is not possible.

Step-by-Step Process

We support owners, families and co-shareholders from the first review to a final, registered result.

Situation Review

We review the company documents, the family situation and the applicable law, and explain your options in clear terms.

Documents & Strategy

We prepare the wills, agreements, notary and registry documents required, including for clients and heirs based abroad.

Negotiation & Settlement

We aim for agreed solutions between heirs, spouses and shareholders that protect the business and its value.

Court Representation if Needed

If agreement is not possible, our advocates represent you before Georgian courts and in mediation.

Frequently Asked Questions

What happens to a company when its owner dies?

The owner’s share passes to the heirs according to the will or the law, taking into account the company’s charter. Heirs accept the inheritance through a notary and are then registered as owners in the Public Registry. We help both the company and the heirs manage this transition.

Can heirs who live abroad inherit shares in a Georgian company?

Yes. Heirs living abroad can inherit, and many steps can be completed through a power of attorney without travelling to Georgia. Foreign documents generally need an apostille or legalisation and a Georgian translation.

Is my company share divided in a divorce?

Shares and assets acquired during the marriage may be considered joint marital property unless a marriage contract provides otherwise. The outcome depends on when and how the business was acquired, so each case needs individual review.

Can a marriage contract protect my business?

Yes. Georgian law allows spouses to agree a property regime different from the default rules, which can keep the business outside joint property. We draft and review such contracts for business owners.

Do you handle general family matters such as child custody?

Our focus is on situations that involve a business or business assets. For matters not connected to a business, we can recommend a trusted family law specialist.