Opening a bank account in Georgia as a foreigner

Under Article 10 of the anti-money-laundering law, a bank must identify and verify the customer and the beneficial owner, the purpose of the relationship and the expected transactions. If it can't, opening the account is prohibited. For high-risk customers the bank also looks into the origin of funds.

That is why refusals often come without an explanation — and that is lawful. We can't promise that a bank will open an account — that is the bank's decision — but properly prepared documents greatly reduce the risk of refusal.

What to expect

• Usually a passport and a Georgian mobile number; to complete registration you often need to visit a branch
• The bank may ask for documents on the source of income, your business and the purpose of the account
• Some products are available only to citizens of certain countries
• To open a business account you usually need a personal account first
• Remote identification is allowed by law, but not every bank offers it to every customer

How to reduce the risk of refusal

1. Prepare proof of income — a contract, statements, a tax return.
2. Explain clearly what you need the account for and what transactions you expect.
3. For a business account, prepare the company documents and beneficial-owner information.
4. If one bank refuses, another may assess you differently.

Deposits for foreigners

• A foreigner can open a deposit just like a Georgian citizen — in GEL, USD or EUR
• Deposits are insured up to GEL 50,000 per depositor per bank, rising to GEL 100,000 from 1 January 2027; payout in GEL within 20 calendar days
• Insurance covers all types of accounts and includes accrued interest
• Interest an individual receives from a bank is not taxed in Georgia (Tax Code, Article 131(5)) — check your home country's tax separately