Bank Accounts

If you open the bank account while physically being presented in a bank - there is very low likelihood you will be rejected (however there is a list of countries, citizens of which are considered as “high risk individuals” for the bank which makes it almost impossible for such citizens to have an account in Georgia).

However, if you live abroad and it is inconvenient for you to travel to Georgia for opening of a bank account - we can assist you with remote opening of a bank account, but such activity has become more and more complex and limited recently. Chance of opening a personal bank account remotely shall be assessed in each separate case, depending on citizenship, wealth, source of wealth and possibility to prove it. We can assess your chances in advance. Just let us know what you need.

Georgia is one of few non-CRS countries in the world, thus Georgia doesn't exchange information automatically on a global level. Georgian banks have a very well-developed internet-banking system and products. Opening of Georgian personal bank accounts is possible in many different banks, the top three biggest Georgian banks are TBC, Bank of Georgia and Liberty bank.

We mainly work with TBC bank. It offers very attractive conditions for customers, it has marvelous internet-banking. Low commissions. Its debit cards have very high daily withdrawal limit. We can even apply for your personal credit-line.

In case the shareholder and director of the company is a tax-resident and/or citizen of Georgia - opening a bank account for the company is very easy and even can be done without being present in the bank.

However, it becomes a very complex procedure for companies that are owned by non-residents in Georgia or with non-Georgian directors. Georgian Banks may open accounts for such business (opening a bank account for such businesses are also in question), but even so, accounts are getting closed if the clients of the company are not Georgian Residents OR if the company does not have real presence in Georgia (e.g. office, employees, counterparties).

Therefore, in case the business is oriented to deliver services or goods to International Market, it is highly advisable to comply with at least two of the following requirements:

• ●     Have employees in Georgia;
• ●     Have real office in Georgia;
• ●     Have counterparties (i.e. sub-contractors) in Georgia.

In such a case, the risk of closing a bank account lowers.

Can I open a company’s bank account in Georgia remotely?

Yes, we can apply on your behalf. We will need a Power of Attorney from you which shall be notarized and apostilled in your country and a notarized and apostilled copy of a passport of the founder(s) of the company.

PLEASE NOTE: WE DO NOT AND CAN NOT GUARANTEE ANY DECISION TO BE MADE BY THE BANK. WE ONLY PROVIDE INFORMATION BASED ON OUR EXPERIENCE AND PREVIOUS PRECEDENTS.

It is hard to predict the time for opening a bank account may take remotely. It can be anywhere between a week to a month and more, depending on how much additional documentation the bank demands and how many of additional requirements there will be to comply with.

In case of your physical presence in Georgia - it can be done within 1-3 days.

We will need a Power of Attorney from you and a copy of your passport, both shall be notarized and legalized or apostilled in your country.