Opening an account in a Georgian bank

Account in Georgia

The banking sector of Georgia is small, there are 16 commercial banks, 13 of which have foreign capital. Georgian banks have fairly strict capitalization standards, they provide loans with maximum guarantees and practically do not issue unsecured loans, which essentially excludes bank failure.

To obtain a banking license in Georgia, you need to have 50 million lari (more than 20 million US dollars). The purpose of this increase is to ensure the safety and stability of the banking system.

Georgian banks have not been caught in money laundering scandals, they are just beginning to gain popularity and they have not yet received close attention from other states.

Photo 1 - Opening an account in a Georgian bank

It is important that only persons who have a direct connection with the country can open an account in Georgia. If the company has nothing to do with the country, the opening will be denied. Therefore, for a positive response from the bank about cooperation, it is necessary to confirm the presence of an office, sales agents, local employees or partners.

If there is a positive preliminary decision of the bank to open an account, the account is opened within 1-2 business days after meeting with the manager at the head office of the bank in Georgia (if a personal visit is needed) or after the bank receives the originals of all necessary documents (if the account is opened remotely). After opening an account, all original documents are returned back.


  • In the banks of Georgia, you can open an account for any company, no matter if it is a European company or offshore, the main thing is the presence of business ties with the country
  • There are banks where accounts are opened only on a personal visit to the main office (Tbilisi), but it is also possible to open an account remotely without a trip to Georgia
  • There are no minimum balances and minimum deposits on accounts
  • Account management is carried out using Internet banking
  • The cost of transfers is much lower than in European banks (banks in Latvia, and the Czech Republic)
  • Banks have Russian-speaking managers, which facilitates communication for our citizens
Photo 2 - Opening an account in a Georgian bank

Banks of Georgia

If you need to open an account in Georgia for a non-resident, pay attention to the following banks:

  • Bank of Georgia is the largest financial institution in Georgia, whose shares are listed on the London and Georgian Stock Exchanges. To open an account, you must personally go to the main office of the bank in Tbilisi.
  • Terabank has been operating in the Georgian market for over 17 years. Here you can open an account remotely.

Do you have any questions? Contact our lawyers for detailed advice:

+38 (098) 737-88-88

We will help you open an account in a Georgian bank or in one of 70 foreign banks to choose from.

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