Anyone looking for an international bank account that is uncomplicated, versatile and business-friendly will sooner or later come across Georgia. The small country in the Caucasus has become a popular destination for digital nomads, entrepreneurs and investors in recent years – not least because of its stable banks, favorable tax framework and comparatively easy account opening for foreigners. This article explains everything you need to know about opening a bank account in Georgia – from requirements and procedures to opportunities and pitfalls.
Advantages of an account in Georgia
An offshore account in Georgia offers numerous advantages in international comparison. Here is an overview of the most important ones.
Little bureaucracy and uncomplicated account opening:
Opening an account in Georgia is considered comparatively easy, especially when compared to other jurisdictions. Some banks also offer support in English. It is possible to open an account as a foreigner and to set up a company relatively quickly.
Stable banks with high equity:
The Georgian banks, above all the Bank of Georgia and TBC Bank, are considered to be solidly positioned with a relatively high equity ratio. The Georgian banking system is also not overly indebted.
Currency diversification and access to capital:
An account in Georgia allows access to several currencies, including the Georgian lari (GEL), US dollar and euro. This can help to better diversify your capital.
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More InformationPrerequisites
As a foreign citizen, you can open a bank account in Georgia relatively easily. The general requirements vary depending on the bank, but typically include
Valid passport: A valid passport is required.
Georgian phone number: Some banks require a local phone number to open an account, but not all.
Know Your Customer (KYC) form: Completing a KYC form is common to obtain information about your financial situation and the purpose of the account.
Proof of income: Some banks require documents that prove your source and amount of income.
Proof of address: Although not always required, proof of your residential address may be requested.
Procedure
Opening a bank account in Georgia as a foreigner can be done in two ways: by personal visit or by remote procedure. Here are the detailed steps for both options:
Personal account opening
When opening an account in person, it is necessary to enter the country and appear at the bank.
Preparation of the required documents:
Valid passport: Your current passport is required.
Georgian phone number: Some banks require a local phone number for communication.
Proof of address: Although not always required, proof of your residential address may be requested.
Proof of income: Some banks require documents that prove your source and amount of income.
Bank selection Popular banks for foreigners are the Bank of Georgia and TBC Bank.
Branch visit Go to a branch of the selected bank with the prepared documents.
Application
Fill out the bank’s application form.
Submit the required documents.
Answer questions as part of the “Know Your Customer” (KYC) process, e.g. about the purpose of opening an account and your financial activities.
Account activation:
After approval, your account will be opened.
You will receive access data for online banking and, if applicable, a debit card, which will be issued either immediately or within a few days.

Remote account opening (online or remote)
When opening an account remotely, i.e. opening an account without being physically present, someone can be appointed locally. In this case, the entire process is remote or online for the account owner.
Assignment of an authorized representative
Grant a notarized Power of Attorney (POA) to a trusted person or attorney in Georgia to act on your behalf.
Document preparation
Notarization and apostille: Have the power of attorney and a copy of your passport notarized and, if necessary, apostilled.
Translation: Have all documents translated into Georgian and also notarized.
Application by the authorized representative
Your representative submits the required documents to the selected bank and goes through the KYC process on your behalf.
Account activation
After successful verification, the account is opened.
Your authorized representative can send you the access data and cards or keep them until you collect them in person.
FAQ
An overview of the most frequently asked questions about offshore banking in Georgia.
Is a Georgia account 100% anonmy?
Depending on how you set it up. In principle, Georgia has been implementing or participating in the CRS since 2024 and is therefore only conditionally an anonymous account. However, the decisive factor is ultimately the indication of the place of residence. This is because the bank or Georgia exchanges data with the country you specify.
Experience
We have had very positive experiences with Georgia, especially with TBC Bank. In our opinion, it is almost mandatory in every offshore portfolio and the opening can also be handled very easily and cost-effectively through us. Compared to other offshore banks, the opening process is faster and no minimum deposit is required.
Summary
A bank account in Georgia is easily accessible for foreigners and offers attractive conditions. The banks are stable and account management is extremely uncomplicated and also low in charges.
The requirements for opening an account are straightforward: a valid passport, possibly a Georgian telephone number, proof of address or income if necessary and the completion of a KYC form. The process is straightforward – either by visiting the bank in person or, with a power of attorney, remotely.
However, due to the CRS membership it is not a secret account – Anyone who needs or wants to maintain transparency towards their home country should include this in their planning or take it into account when providing their residential address.