How to Open a Bank Account

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 dayThe 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.