Open an account in Georgia - COREDO


In recent years, the Georgian authorities have implemented a number of successful reforms in the financial sector, which have contributed to a radical change in the tax system. As a result, the country’s position in various international rankings has improved dramatically and continues to grow. All these processes make the opening of an account in the country by non-residents a very topical issue, especially for the citizens of Russia and the CIS countries.

The banking sector in Georgia is relatively small. There are currently fifteen licensed banks operating in the country. The largest of them is TBC Bank. It has numerous branches, provides a full range of premium services and is considered to be a leader in the banking sector. Other large banks are Bank of Georgia, Silk Road Bank, VTB Bank, TeraBank and BasisBank.

Advantages of opening an account in Georgia

One notable benefit of opening an account with a Georgian bank is the high degree of digitisation within the local banking sector and its rapid pace of innovative development. The current digital transformation trends are actively embraced and swiftly implemented here. Most banks provide an extensive array of remote services, such as internet banking. Additionally, many institutions offer the convenience of remotely opening an account without the need for in-person presence. Overall, the quality and standard of service here are on par with European banking standards.


Our specialists are experienced in terms of the legal framework in the financial sector of the country as well as all the regulatory changes. Our specialists are ready to help you quickly prepare the documents required to open an account in the chosen bank and provide you with effective assistance in handling the matter immediately.

The standard set of documents includes director, company owners and other attorneys-in-fact ID cards as well as the original statutes (apostilled). 

The verification process by a bank institution and direct opening of an account usually takes 14 days or more. It depends on the requirements of the chosen bank.

Please contact us if you ever need to open an account in Georgia. Our specialists have extensive experience in working with local banks and are ready to help in choosing the proper bank for your business as well as assist in preparing the necessary documents.


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