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Georgia (country) business account

Xerkki

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Nov 27, 2019
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Hi everyone.

I was wondering if anyone of you have experience about the business banking in Georgia?
Bank of Georgia, Liberty Bank and TBC Bank seemed to be ok but how is it? Are they?

I´ve heard that bank account opening in Georgia is easy, fast and account maintenances affordable.
Is there anyone who can recommend some lawyers etc to open company account in Georgia with Power of Attorney?
Company itself is US non resident offshore company.

Thank you for your answers.
 
The banks in Georgia are good but you want to visit the bank to setup the account. The company can be setup remote but again personal visit will make it easier for you to get it all setup within a few days.

There was used to be some around here with that service in their signatures but I think they are gone from the forum or at least they were not able to pay the mentor group subscription to keep their advertising there.
 
How about recent experience with opening business accounts in Georgia? Do they easily open for non-resident companies, let say from UK, US, Russia, Ukraine, HK, Montenegro?

It would be interesting to have business accounts in the same bank for many companies from different parts of the world, to make the money transfers between them quicker and cheaper.. but difficult to find EU banks that open accounts for businesses registered in "exotic countries"..
 
How about recent experience with opening business accounts in Georgia? Do they easily open for non-resident companies, let say from UK, US, Russia, Ukraine, HK, Montenegro?

It would be interesting to have business accounts in the same bank for many companies from different parts of the world, to make the money transfers between them quicker and cheaper.. but difficult to find EU banks that open accounts for businesses registered in "exotic countries"..

Have you tried Maltese and Cyprus banks?
 
I live in Georgia and run several company's. Georgian Banks no longer open business accounts for foreign company's. Personal accounts however remain easy and can be opened remotely.
Which banks in Georgia are now opening personal accounts remotely? Are they opening personal accounts remotely for residents only or are they opening remote accounts for non residents such as US citizens?
 
I live in Georgia and run several company's. Georgian Banks no longer open business accounts for foreign company's. Personal accounts however remain easy and can be opened remotely.
What about foreign owned Georgia companies, is this still possible? I mean do you know if it is possible?
 
Does this apply also if you are going to Georgia and visit the bank in person including all your documents etc. in your hands?
 
Does this apply also if you are going to Georgia and visit the bank in person including all your documents etc. in your hands?

If your company's activity is not connected with Georgia - do not waste your time on Georgia, you most likely won't be able to open an account there. Moreover, Georgian banks started to close accounts of existing companies without substance these days. They even close accounts of companies from the virtual IT zone, obviously having no clue what the word "virtual" in the name means.
 
If your company's activity is not connected with Georgia - do not waste your time on Georgia, you most likely won't be able to open an account there. Moreover, Georgian banks started to close accounts of existing companies without substance these days. They even close accounts of companies from the virtual IT zone, obviously having no clue what the word "virtual" in the name means.
I already see this coming, there was all the hype around Georgia last year on OffshoreCorpTalk, there was one fantastic story after the other here where people found the holy grale in Georgia for the perfect setup.

It's sad that this was another case of hot air.
 
While it is true, that getting an account with a Georgian bank if your business is not connected to Georgia can be difficult there is alternatives that function really well, such as Paysera and Transferwise.

For one of my companys I opened a TBC account which got shut down after receiving my first transaction from a client in the EU. I then switched to Paysera which has been working just fine and after paying some salarys of Georgian employees I could show connection to Georgia and open an account with Bank of Georgia which is still fully operational.
 

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