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LEGAL SERVICES

Opening of Bank Account

Open a Bank Account in Georgia

  • Personal Bank Account Georgia
  • Corporate Bank Account Georgia

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Open Personal or Business Bank Account in Georgia

Service of opening a bank account consists of opening and managing (if needed) of a personal bank account of a natural person in three currencies (USD, EUR, GEL) and opening a corporate bank account of a legal entity, both at TBC Bank. It also covers service of receiving/delivering a debit card and internet banking. Opening a personal bank account remotely or opening a corporate bank account is often a serious problem for foreigners in Georgia, but we know how to deal with it.

Open Bank Account Georgia for Non-Resident

Non-residents can open a bank account in Georgia quite easily. The process usually requires the submission of a valid passport, proof of address (which may be from your home country) and sometimes a bank reference or proof of income. 

Most Georgian banks offer services in English and have procedures in place to facilitate account opening for foreigners efficiently. It usually takes a few days to have everything set up, allowing non-residents to access a range of banking services including international transactions and online banking.

Personal Bank Account in Georgia

Opening a personal bank account in Georgia offers many benefits to both residents and expatriates. The process is simple, with minimal paperwork, and banks in Georgia are known for stability and comprehensive services.

Corporate Bank Account in Georgia

In today's global market, having a reliable business bank account is crucial for smooth financial operations. Our law firm in Tbilisi, offers comprehensive legal services in Georgia, ensuring that your financial needs are met with the highest standards of professionalism.

LTA's Legal Support in Banking Law

For businesses seeking to establish themselves in Georgia, it is important to understand the local financial landscape. We assist you with all aspects of company registration in Georgia, from initial setup to ongoing compliance, helping you secure a bank account that fits your specific needs.

FAQs

Who can open a bank account in Georgia?

In Georgia, not only citizens, but also foreigners can use banking services. If a foreign citizen has a residence permit in Georgia, then this greatly simplifies the opening of an account, and also increases the credibility of the bank. 

What are the advantages of having a bank account in Georgia?

Georgian bank accounts offer stability, comprehensive banking services, and the convenience of transactions in multiple currencies (USD, EUR, GEL). Clients also benefit from services like internet banking and easy international transactions.

FAQ

Common questions

01What services do you offer to clients apart from legal assistance in Georgia?

We provide clients with a wide range of services beyond legal assistance. These include tax services, accounting services, brokerage services, internal audit services, and more.

02What should I bring to the initial legal consultation?

Bring any documents related to your case, including correspondence, contracts, or court notices. This will allow us to better understand your situation and provide accurate advice.

03How can I schedule a consultation with your lawyers?

You can book a consultation through our contact page or by calling our office directly. Our team is ready to provide you with the legal assistance you need.

04What types of legal cases do you handle?

We handle various cases, including but not limited to real estate, family law, labor disputes, gambling, cryptocurrency law, and criminal defense.

05How can I get Georgian tax residency?

There are couple of ways:

●     You may stay in Georgian for any 183 days within 12 months period;

●     Obtain tax residency on the basis of being a high net worth individual.

While the first option is straightforward, second one has following requirements:

●     An individual has to have either GEL3mln in assets OR GEL200k income per annum for last three consecutive years, and

●     An individual shall have Georgian residence permit OR Georgian source income of GEL25k per year.

Note regarding the first option - the time of actual stay in the territory of Georgia shall not include the time, during which a natural person stayed in Georgia:

  • a) as a person having a diplomatic or consular status or as a family member of such person;
  • b) as an employee of an international organisation acting under an international agreement of Georgia or as a person in the public service of a foreign country in Georgia or as a family member of such person, other than Georgian citizens;
  • c) when moving from one foreign country to another via the territory of Georgia;
  • d) for treatment or leisure.
06What are the most common types of residence permits in Georgia issued to LTA clients?

Short-term residence permitissued to an alien, who has the right of ownership of real property within the territory of Georgia (other than agricultural land) with its market value exceeding USD100k equivalent in GEL, and to his/her family members. Can be issued for period 0.5 - 1 year.

Residence permit for investment purposes issued to:

- an alien and their family members who made investment in Georgia of at least USD300k equivalent in GEL (other conditions also apply). After 5 years of satisfying investment-specific conditions - the person is eligible to obtain permanent residency.

- an alien who holds a title to an immovable property in Georgia with a market value exceeding USD300k equivalent in GEL. After 5 years of holding property with mentioned value - the person is eligible to obtain permanent residency.

Labor residence permitissued for implementation of entrepreneurial activities or employment in Georgia. Need to proof respective min. salary of approx. GEL1k per month AND min. turnover of employer (GEL35k or GEL50k turnover per foreigner). Can be issued for period 0.5 - 6 years.

Residence permit for family unification issued to family members of an alien holding residence permit. Can be issued for period 0.5 - 6 years.

Permanent residence permitissued to a spouse, parent and child of a citizen of Georgia. Permanent residence permit is also issued to an alien who has been residing in Georgia for the past 6 years based on temporary residence permit. Residence in Georgia for study or medical treatment and employment at diplomatic and equivalent representative offices in Georgia is not included in this period.