A legal entity will need a bank account to conduct its business, which can be opened in any branch of any bank throughout Georgia.
To open a bank account for a non-resident legal entity, not more than 3 b days are required. A bank may request to fill in an additional questionnaire (questionnaires are individual for each bank).
Opening a service account is free of charge, an average monthly account service fee is 10 GEL (banks have individual service rates).
Required documents:
● Application for opening an account
● Identity card (passport) of the representative of the legal entity (company director or proxy)
● Sample signature of the representative of the legal entity (company director or proxy)
● An extract from the relevant register on the establishment of the company, and in the absence of such a document, any other document which, according to the legislation of the non-resident’s country, determines the legal status of a non-resident entity
● Copies of identity documents of beneficial owners (e.g., founding partner of the company, direct or indirect final owner, owner and/or controlling entity of not less than 25% of shares or more)
● Charter (notarized translation)
A bank account for a private entrepreneur is opened on the same day. The bank may request the completion of an additional questionnaire (the questionnaire is individual for the banks).
Opening a service account is free, and the average account service fee is 5 GEL (banks have individual rates).
Required documents:
● Application for opening an account
● Identity document (passport) of a natural person or his/her representative (proxy)
● Sample signature of the natural person or his/her representative (proxy)
● Extract from the business register or tax registration certificate
You can see the list of licensed commercial banks here.
