Corporate And Privat Bank Account Setup in Tbilisi, Georgia
A very important thing about Georgia is the stability of its banking system. This factor plays a key role in attracting foreign investors and making them deposit their money in Georgian banks.
Opening a bank account in Georgia is a simple process. It is a remarkably simple exercise compared to most countries in the world.
it provides an opportunity to corporate clients to open a multi-currency account that can be used for various personal needs such as paying invoices, bills, making money transfers, deposits, or withdrawals. Besides Georgian lari, the bank accepts US dollars, euros, Swiss francs, British pounds or another currencies upon agreement with a bank.
Corporate Bank Account Opening in Georgia |
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| Corporate Bank account opening with our assitance - client is present in Tbilisi, Georgia | EURO 120 / one time fee |
| Corporate Bank account opening with Power of Attorney - client is not present in Tbilisi, Georgia | EURO 500 / one time fee |
| International currier services that allow to ship plastic card and / or digipass with a tracking code | EURO 180 / one time fee |
What is included:
- IBAN corporate bank account - multi currency (GEL, USD, EURO, CHF, RUB, ...)
- VISA plastic card (personal visit in the bank required)
- Internet banking in English, Russian and Georgian language
- Basic assitance with KYC document
Personal Bank Account Opening in Georgia |
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| Privat Bank account opening with our assitance - client is present in Tbilisi, Georgia | EURO 100 / one time fee |
| Privat Bank account opening with Power of Attorney - client is not present in Tbilisi, Georgia | EURO 300 / one time fee |
| Privat Premium Bank account opening with our assitance - client is present in Tbilisi, Georgia | EURO 200 / one time fee |
| Privat Premium Bank account opening with Power of Attorney - client is not present in Tbilisi, Georgia | EURO 500 / one time fee |
| International currier services that allow to ship plastic card and / or digipass with a tracking code | EURO 180 / one time fee |
What is included:
- IBAN personal bank account - multi currency (GEL, USD, EURO, CHF, RUB, ...)
- VISA plastic card
- Internet banking in English, Russian and Georgian language
- Basic assitance with KYC document
Premium Bank account additionaly includes:
- Dedicated personal banker assitance (English, Russian and Georgian language)
- Personal Assistant - Will help you with your individual needs and solve any of your issues anywhere in the world 24 hours a day
- High interest return on a positive account balance – 4% in case of GEL, and 1% in case of USD
- Lounge Key – Free access to more than 1200 airport VIP lounges worldwide twice a year
- Two premium plastic Visa cards with high daily withdrawal limites 100.000 GEL (aprox. EURO 27.500)
- High rewards scheme for card payments
- Option to apply for American Express Platinum
All listed prices excl. 18% VAT
Banking Services in Georgia
All bank accounts in Georgia use the international IBAN format, which makes it simple to transfer to transfer funds into the account without all of the hassle of working out the SWIFT/BIC Codes. Funds sent into the account arrive remarkably quickly.
It provides an opportunity to coroprate clients to open a multi-currency account that can be used for various personal needs such as paying the bills, making money transfers, deposits, or withdrawals. Besides Georgian lari, the bank accepts US dollars, euros, Swiss francs, and British pounds.
Low commission fees, a large spectrum of bank services, high level of reliability and care for the clients, and strict observance of the financial confidentiality principle.
Advantages of having private account in Georgia:
- Access to funds at any moment in time;
- No limits for money withdrawals and transfers;
- A possibility to make payments in different currencies;
- A possibility to exchange currencies online;
- No minimum amount requirements for deposits and monthly balances;
- Once opened, the account remains active at all times.
- Low price of service;
The only payment that you need to make at the time that you open the account is a small payment in order to obtain a debit card, which can also be used to withdraw funds from ATMs both inside Georgia and around the world. The bank offers a choice of either a Visa or Mastercard. Banks offer mobile apps for mobile banking as well as Internet banking – so you can track your funds from anywhere in the world.
Internet banking is in English and Russian, multi-currency accounts are available, ability to carry out international transfers and debit cards.
There is no payment for signing up for and using the Internet banking service.
- Check the balance at any moment in time;
- Obtain account statements;
- Transfer funds both to private individuals and to companies;
- Pay the bills including the mobile phone bill;
- Make payments towards loans and deposit money on the accounts;
- Convert currencies;
- Use other bank services.
Transfers between the client’s accounts in the Bank, phone bill payments, and currency exchange operations are also free of charge.
With Internet Banking you can now save your time and pay all your utility bills, check and control your accounts, obtain information on exchange rates, make currency conversions and transfers to the accounts locally and internationally. You can even order an American Express Card.
If you are using SMS banking you can add or remove any application.
Thawte® SSL Certificates technology is the provider of your Internet Banking security;
For additional security you will be required to enter a single-use code sent to you via sms to your mobile;
You can also receive the code via Digipass - a mini device that generates the unique code independently; in this case you do not need your mobile phone;
Fees for operating the bank account are very low – just a few Georgian Lari per month – the exact amount depending upon which particular bank you decide to use and the level of service offered by the account.
Which bank should you choose?
There are a multitude of banks to choose from in Georgia, many of which are local. That being said, it’s possible to select a larger international institution for your personal banking.
The most popular banks in Georgia include:
- Bank of Georgia
- TBC
- Liberty Bank
- Basis Bank
The first two banks, Bank of Georgia and TBC Bank are unbeatable leaders.
The control over the bank system of country is provided by the National Bank of Georgia. It regulates the activity of financial institutions, approved legislative acts, and provides stability of the national currency.
A high level of trust in Georgian banks is proved by significant amounts of money on cooperating accounts and deposits. high level of confidentiality – Georgia does not exchange the financial information with tax bodies of other countries, therefore, fiscal authorities in the countries of non-residents cannot see any operations or balances on accounts;
A high level of anonymity Georgia has not signed the AEOl. No interest taxes (10% for a long-term deposit of 9-24 months).
Also, one of the better and simple solutions available for non-residents in the Republic of Georgia is a personal bank account linked to a Georgian PayPal account. The combination is very useful. Unlike the USA a Georgian PayPal account is very easy to verify, requires no personal identification data, and once verified the client can withdraw up to $2,500.00 PER DAY from the PayPal account to the Georgian bank account. Then the client can either draw the funds from an ATM, use the visa card to buy goods, or use the online banking to arrange other types of transfers.
It should be mentioned that the system of insurance of deposits had appeared in Georgia quite recently. Today the Foundation for Deposit Warranty provides return of cash assets of natural persons that remain on accounts on bankrupt banks only within 5 000 lari.