Opening an account in Georgia

The position of Georgian jurisdiction in the international arena is strengthening, which is facilitated by the favorable investment climate in the country and the stability of the banking system. In addition, Georgian banks offer customers lower service rates than in the EU and even the CIS.

 

If you are interested in opening an account in Georgia , the law firm Lawrange is ready to provide professional assistance in resolving this issue. Our experience of cooperation with Georgian bankers allows us to achieve the desired result.

 

Georgia Account Opening Process

With the support of AK Lawrange, you can open an account in Georgia remotely . Registration at the Bank of Georgia is allowed without visiting a bank branch. The possibility of remotely opening an account with other banks is considered in person.

 

Note! The most important step is the customer’s compliance check on the documents and information provided.

 

This is followed by the procedure for drawing up an account maintenance agreement. The details of the account in the international IBAN format are specified directly in the contract.

 

Preparation of documents for opening an account in Georgia

To open an account in the Bank of Georgia for a legal entity, you must submit a standard package of documentation:

  1. charter, minutes of the shareholders’ meeting, extract from the register of legal entities, order appointing the director;
  2. identity cards of the founders and the management (director) together with the confirmation of the addresses of residence (the physical address is confirmed, for example – by means of fresh bills for utility services);
  3. completed bank questionnaires.

 

Choosing a bank to open an account in Georgia

Georgian banks combine reliability and loyalty to non-residents:

  • foreigner can open a personal account in several currencies at once, make payments through online banking, withdraw cash through ATM outside Georgia;
  • A corporate bank card is issued to a non-resident company, acquiring services and access to simplified SWIFT transfers are provided.

 

The easiest way to open an account in Georgia for a non-resident is at TBC Bank, Bank of Georgia, Tera Bank or Silk Road Bank. At the same time, TBC Bank and Bank of Georgia are the leaders in the banking market in the country, concentrating more than 70% of all assets.

 

Professional support from Lawrange

 

As Georgia works closely with the EU and the United States, the country’s bankers seek to comply with international requirements to combat money laundering and tax optimization. Each potential customer undergoes a comprehensive review that lasts more than one day.

 

Note! At this stage, two issues are important: 1) preparation of documentation (each document must be executed correctly); 2) proper communication with bankers. Involving Lawrange experts allows you to close both issues, and as a result, open a bank account in Georgia without complications.

 

The cost of opening an account in Georgia

The calculation of the cost is made on request, which you can leave through the feedback form.

 

Conclusions

Georgia is a country with a favorable climate for business registration and bank account. In particular, remote mode is allowed for these tasks.

 

FAQ

Opening a Georgian bank account – deadlines?

With the prior approval of the bank, the account is opened within 1-2 working days.

 

Want to know more about opening a Georgian bank account?

If so, contact Lawrange staff during business hours. You will be able to get a competent answer to any legal question.

 

What is the most reliable bank in Georgia?

The country’s largest banks, TBC Bank and Bank of Georgia, have a high reputation. Non-residents can open an account in Georgia.

 

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