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Open personal bank account in Georgia remotely

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
Thanks Martin. Is there a better place to bank nearby? How about Serbia, Croatia, Montenegro, Macedonia?
Banking is a very personal matter. You need to do some research on your target back. For example read through the banks annual report, go and see a branch in person if you can and generally feel comfortable with the country where the bank is based. It's often too late to do this due diligence after the bank has gone bust or stolen your money.


Where do you get your information from to keep your money safe in Georgia? (to move it somewhere else in time)
From the internet for general news on Georgia. For economic stuff I read religiously G&T's weekly report. It summaries all the economic data you need to assess the countries economic risk. G&T is part of BankofGeorgia btw.

https://galtandtaggart.com/upload/news/15290.pdf
 

iloveyouguys

BANNED MEMBER
Banking is a very personal matter. You need to do some research on your target back. For example read through the banks annual report, go and see a branch in person if you can and generally feel comfortable with the country where the bank is based. It's often too late to do this due diligence after the bank has gone bust or stolen your money.




From the internet for general news on Georgia. For economic stuff I read religiously G&T's weekly report. It summaries all the economic data you need to assess the countries economic risk. G&T is part of BankofGeorgia btw.

https://galtandtaggart.com/upload/news/15290.pdf
I was just looking for some pointer names. I basically want to throw $10-$20K to a couple of banks (or secure ways to store) in case a war starts, or in case my nationality causes me to lose my access to some western countries where I keep some money. I'm not nearly rich, I'm cashflow negative lol (trying to fix that). Basically that's why I value security more. I can't buy a second passport yet.

Also, I think all banks lie about their annual reports, don't they? How can you trust what someone says if they make money by exploiting you if you let them? Kinda like trusting a slut.

This is a bit unrelated but I'm just curious. Is it a full time job to manage over 100 bank accounts? That must be a pain in the ass. If your time is worth $300/hr, wouldn't you want to pay extra 50 hours per year ($15,000) to keep your money in more traditional places which helps you spend less money on keeping up with the news?

Also, what do you think about throwing 10% of your money to Invest in loans and earn money | Mintos Marketplace ? 11% return, or the ones here 13 Best Mintos Alternatives in 2020 [Similar P2P Lending Sites]
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
I was just looking for some pointer names. I basically want to throw $10-$20K to a couple of banks (or secure ways to store) in case a war starts, or in case my nationality causes me to lose my access to some western countries where I keep some money.
If your nationality may cause you problems in future then you can't bank in a any western country. Georgia was at war just over 10 years ago as I mentioned so is not the best example for asset safety.

Also, I think all banks lie about their annual reports, don't they? How can you trust what someone says if they make money by exploiting you if you let them? Kinda like trusting a slut.
lol....Maybe a bank account is not for you. You can open a bullionstar gold account in Singapore. Then just park your cash on the cash account they create for you. At least you have an easy exit if you see sanctions coming i.e convert to gold and take out physically your gold.

This is a bit unrelated but I'm just curious. Is it a full time job to manage over 100 bank accounts? That must be a pain in the ass. If your time is worth $300/hr, wouldn't you want to pay extra 50 hours per year ($15,000) to keep your money in more traditional places which helps you spend less money on keeping up with the news?
It is a pain but I generally don't have anything else to do as all my money I now earn is passive. lol.....it is a full time job. I login once in a while and look at them a bit and then log out. Sad hobby but no different then stamp collecting and better than working a 9-5. 100% traditional places is not what I do. I like to be different.

Also, what do you think about throwing 10% of your money to Invest in loans and earn money | Mintos Marketplace ? 11% return, or the ones here 13 Best Mintos Alternatives in 2020 [Similar P2P Lending Sites]
I don't know about those sites but when you see 10% or 11% return on anything you should generally walk away....and quickly.
 

machinetheory

New member
Hey guys! I didn't want to start a new thread, but I am in a similar position just that I am phisically in Georgia. I am looking to open a bank account here, to expand from EMI (I am from southamerica so my choices are always very limited).

- My basic questions is, is it really that simple and I will get the account in 30 minutes? Just go inside a TBC or BOG branch and they will open a personal account?
- Will they open a USD/EUR?
- anything additional I should get ready?

My main reason is just to diversify my banking options.

Thanks!
 

blueweb

Corporate Services
Mentor Group Gold
Elite Member
So you are in Georgia at the moment, why don't you simply walk into a bank following the instructions which are given in endless threads at offshorecorptalk.com already and try your luck? There are plenty of banks there which you can try with.

So once you have done that you would be able to let us know.
 

khinkali

Active Member
@machinetheory I walked into TBC Head Office near Marjanishvili metro station with my passport and 40 GEL (about $14.50) in cash for the fees. I signed the form to apply for my current account and debit card. It was late afternoon, so I couldn't get my new card the next day. But the day after that it was there. It is a VISA debit card with my name, chip and VISA Pay Wave contactless. The account is GEL, USD and EUR (no SEPA).

I previously applied to a small branch of another bank (Liberty) and was rejected. I opted for TBC head office because the staff are English language friendly and used to dealing with foreigners. I expect that a large Bank of Georgia branch will be just as easy. I use local branches for day to day activities.

If you have can deposit >30 000 USD (20 for SOLO) or >1 000 per month then TBC Status or Bank of Georgia SOLO would make sense.
 
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For $100 or more you can get it, but you need power of attorney from a notary from both your passport issuer country and Georgia, send a certified copy and so on... which IMO sucks if you hate paperwork and dealing with the old school guys.

Flying there is not that expensive unless you are in South America or Southern Asia. You can have your personal bank account open in 30 minutes in Tbilisi. It's the best banking experience ever (besides fintech).

For banking, I recommend TBC. Big bank, easy to setup, good customer support, easy to use mobile app and digital banking.
do they accept revenue from emi ( from porn industry)?
 

clemens

Corporate Services
Mentor Group Gold
@machinetheory I walked into TBC Head Office near Marjanishvili metro station with my passport and 40 GEL (about $14.50) in cash for the fees. I signed the form to apply for my current account and debit card. It was late afternoon, so I couldn't get my new card the next day. But the day after that it was there. It is a VISA debit card with my name, chip and VISA Pay Wave contactless. The account is GEL, USD and EUR (no SEPA).

I previously applied to a small branch of another bank (Liberty) and was rejected. I opted for TBC head office because the staff are English language friendly and used to dealing with foreigners. I expect that a large Bank of Georgia branch will be just as easy. I use local branches for day to day activities.

If you have can deposit >30 000 USD (20 for SOLO) or >1 000 per month then TBC Status or Bank of Georgia SOLO would make sense.
well well, as far as I read your posting here and you new high acticity my best guess is you are a sort of reseller of such services or accounting firm which make it easy for you to walk into a bank and get an account if you have a good relationship to the network of banks.

It is misleading that you don't identify your self from the beginning rather then telling people how easy it is for you to navigate in Georgia, that will not be the case for me or 99% of the average Joe around here.

I can tell you that I can go into any bank in Cyprus and get a bank account there, business, personal, it doesn't matter, easy to do so, guess why!
 

khinkali

Active Member
@clemens nobody would let me run an accounting firm. :) I flew here, went to TBC and it was easy to open the account. If you have problems here, maybe you insulted the staff or something? ;-)

But seriously, I picked Georgia partly because these things are easier here (no proof of address needed like UK and no ridiculous bureaucracy like in Thailand where I was before) and I picked the biggest branch (head office) of one of the two main banks, specifically because they're used to dealing with foreigners (and in English). Your experience might differ, but I know I'm not alone in finding these things quite easy here.
 

tux

New member

ontherun

Active Member
@khinkali good job for just going there and doing it in person. too many people on this forum have personal fears/thoughts which stop them from going outside and doing it as you have done. good job
 
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