# Crypto in Georgia — tax and VASP registration In Georgia, income an individual receives from supplying crypto assets is exempt from personal income tax — as the Ministry of Finance has ruled. A crypto business — exchange, conversion, transfers, custody — may operate only after registering with the National Bank. We help set up the company, obtain VASP registration and meet AML requirements. - Confidential - Georgian · English · Russian - Free first consultation - Courts of all instances Under the Ministry of Finance's Public Decision No. 201 of 2019, crypto assets have no location, so an individual's income from supplying them is not Georgian-source income and is exempt from personal income tax. Exchanging crypto for money is not subject to VAT. A public decision binds the Revenue Service until the underlying rules change. A company's profits from crypto, however, are taxed under the usual rules. And mind your home country's law — if you are resident there, you may owe tax there. ## VASP registration with the National Bank - Only an LLC or JSC registered in Georgia can register - Registration fee — GEL 5,000 - Minimum capital: GEL 150,000 — exchange or transfers; GEL 250,000 — other services; GEL 350,000 — a trading platform - The National Bank decides within 60 calendar days (which can be extended) - Lending virtual assets to individuals is banned, and so are privacy coins - A VASP is an obliged entity under the AML law: customer identification and automated transaction monitoring are mandatory ## Our services - Assessing tax on crypto income - Registering a crypto company - VASP registration with the National Bank - AML policy and customer due diligence rules - Dealing with banks about crypto income - Disputes with the Revenue Service and the National Bank ## Questions & answers ### Do I pay tax on income from selling crypto? As an individual — no: under the Ministry of Finance's 2019 public decision, this income is exempt from personal income tax. Different rules apply to companies. ### Can I run a crypto exchange as a sole trader? No. Only an LLC or JSC can register as a VASP. ### How much capital does a VASP need? From GEL 150,000 to GEL 350,000, depending on the service. Providers registered earlier must meet this by 1 September 2027. ## Legal basis - [Ministry of Finance Public Decision No. 201 (2019) — crypto assets](https://matsne.gov.ge/ka/document/view/4601215) - [NBG Order No. 94/04 — virtual asset service providers](https://matsne.gov.ge/ka/document/view/5829496) - [Law on Facilitating the Prevention of Money Laundering and Terrorism Financing](https://matsne.gov.ge/ka/document/view/4690334) Official texts (in Georgian) — Legislative Herald of Georgia, matsne.gov.ge. Related practice area: [Corporate law](https://mmlaw.ge/en/corporate-lawyer/) ## Related topics - [#For foreigners](https://mmlaw.ge/en/foreigners/) - [#Business](https://mmlaw.ge/en/corporate-lawyer/) - [#Online & digital](https://mmlaw.ge/en/cybercrime-lawyer/) - - [Company & business · For foreigners](https://mmlaw.ge/en/foreigners/company-registration-in-georgia/) - - [Individual entrepreneur in Georgia: the 1% tax for foreigners](https://mmlaw.ge/en/blog/individual-entrepreneur-georgia-1-percent-tax/) - - [Work permit & sole trader · For foreigners](https://mmlaw.ge/en/foreigners/work-permit-and-sole-trader/) - - [IT companies and IT specialists · For foreigners](https://mmlaw.ge/en/foreigners/it-companies-in-georgia/) - - [Gambling licence · For foreigners](https://mmlaw.ge/en/foreigners/gambling-licence-georgia/) - - [Bank account for non-residents · For foreigners](https://mmlaw.ge/en/foreigners/bank-account-in-georgia-for-foreigners/) - - [Tax residency in Georgia · For foreigners](https://mmlaw.ge/en/foreigners/tax-residency-georgia/) - - [Double tax treaties · For foreigners](https://mmlaw.ge/en/foreigners/double-tax-treaties-georgia/) For foreigners ## How we can help - [Criminal cases](https://mmlaw.ge/en/foreigners/criminal-defense-for-foreigners/) — Defense if you are detained or charged — with an interpreter and contact with your consulate. - [Immigration cases](https://mmlaw.ge/en/foreigners/immigration-lawyer-georgia/) — Refused entry, overstays, deportation and appeals against residence-permit refusals — fast and in your language. - [Buying property](https://mmlaw.ge/en/foreigners/buying-property-in-georgia/) — Check the property, sign a safe contract and register ownership — in person or remotely. - [Disputes with developers](https://mmlaw.ge/en/foreigners/disputes-with-developers/) — Construction is late, the developer won't refund, or the flat is mortgaged — we protect the buyer's interests. - [Company & business](https://mmlaw.ge/en/foreigners/company-registration-in-georgia/) — LLC registration in Georgia for foreigners from 1 800 ₾, a virtual business address and bank account opening — in person or remotely. - [Work permit & sole trader](https://mmlaw.ge/en/foreigners/work-permit-and-sole-trader/) — The right to work, registering as an individual entrepreneur, the 1% small business tax and the right residence permit. - [Residence permits](https://mmlaw.ge/en/foreigners/residence-permit-in-georgia/) — Work, business, property, family and investment residence permits — applications, extensions and appeals. - [Family cases](https://mmlaw.ge/en/foreigners/family-law-for-foreigners/) — International divorce, children and alimony, recognition of foreign decisions. - [IT companies and IT specialists](https://mmlaw.ge/en/foreigners/it-companies-in-georgia/) — Three tax regimes for IT in Georgia: 1% sole trader, virtual zone and 5% international company — conditions and the 2026 change. - [Gambling licence](https://mmlaw.ge/en/foreigners/gambling-licence-georgia/) — Casino, slots, betting and online permits in Georgia: who can get one, the conditions and what operators may not do. - [Georgian citizenship for foreigners](https://mmlaw.ge/en/foreigners/georgian-citizenship-for-foreigners/) — The ordinary route (10 years), through marriage (5 years), the exceptional route and the rule for those born in Georgia — until 2027. - [Marriage in Georgia for foreigners](https://mmlaw.ge/en/foreigners/marriage-in-georgia-for-foreigners/) — How foreigners marry in Georgia: conditions, documents, apostille, translation, witnesses and using the marriage certificate abroad. - [Driving licence for foreigners](https://mmlaw.ge/en/foreigners/driving-licence-georgia-foreigners/) — A foreign licence is valid for 1 year: exchange without exams, the 185-day rule for a Georgian licence, fines for driving without one. - [Bank account for non-residents](https://mmlaw.ge/en/foreigners/bank-account-in-georgia-for-foreigners/) — How a foreigner opens a personal or business account at a Georgian bank, what the bank asks for, why it refuses and how to prepare. - [Tax residency in Georgia](https://mmlaw.ge/en/foreigners/tax-residency-georgia/) — When you become a Georgian tax resident, the residence certificate, HNWI status and the exemption for foreign income. - [Double tax treaties](https://mmlaw.ge/en/foreigners/double-tax-treaties-georgia/) — Georgia's 58 double tax treaties: how they work, dual residency and the rates with the UK, Germany and the US. - [Checking a Georgian company](https://mmlaw.ge/en/foreigners/checking-a-georgian-company/) — Before you pay or sign with a Georgian company: business registry, pledges, debtors register, court cases and tax debt. - [Land for foreigners](https://mmlaw.ge/en/foreigners/can-foreigners-buy-land-in-georgia/) — Foreigners can buy non-agricultural land; agricultural land only through inheritance or an investment plan. --- Source: https://mmlaw.ge/en/foreigners/crypto-in-georgia/ · MMLAW · +995 551 00 43 00 · info@mmlaw.ge