Start with the account’s job
A household account, a company operating account, an investment account and a merchant-acquiring relationship solve different problems. Set out currencies, expected monthly volume, payment countries and who will use the account. Revenue from a company’s clients should be explained through that company’s contracts and operating arrangements.
We can help prepare the file and identify a suitable banking path. The bank controls its own acceptance and follow-up review. Company registration, residence permission and a referral do not themselves guarantee approval or access to every product.
Prepare a coherent personal or company file
For a person, prepare identity, actual address, tax residences and identification numbers, occupation and documents explaining accumulated wealth and the source of expected transfers. An asset sale, dividends and regular freelance receipts require different supporting records. These are preparation prompts; the selected institution supplies its current mandatory checklist.
For a business, add registry/constitutional records, the ownership chain and controlling persons, authorised signatories, operations, customer/supplier geography and the contracts behind anticipated flows. Explain why a Georgian account is appropriate and how the business is connected to Georgia or the wider structure. Keep those facts consistent with the tax and company-management analysis.
The deposit limit is now GEL 50, 000
The Deposit Insurance Agency states a GEL 50, 000 coverage level per depositor per commercial bank or microbank. The increase took effect on 1 April 2026. The limit belongs to the legal bank, not each account; several accounts at the same bank should not be treated as separate limits.
Confirm that the depositor and product qualify and check how any foreign-currency balance is treated under the scheme. The coverage figure does not remove currency risk or guarantee access to funds in every operational interruption. Use the agency’s current disclosures rather than older guides quoting GEL 30, 000.
Verify the institution and costs
The National Bank publishes its licensed-commercial-bank register. Check the legal entity behind the proposed account, then distinguish a bank deposit from a payment, brokerage or other product. A familiar application or international brand name is not the complete regulatory identity.
Compare published and quoted account charges, outgoing/intermediary fees, currency conversion, payment limits, user permissions and the countries/counterparties the institution can serve. These terms can change and should be confirmed for the proposed activity rather than copied from a generic expat account recommendation.
Connect banking to the tax records
Georgian bank interest can fall under the licensed-financial-institution exemption in Article 131, subject to its recipient conditions. That does not determine how another country taxes the holder, and it is not the treatment of every interest payment from a Georgian company.
Keep statements and transaction evidence accessible to the person responsible for tax filings. Update addresses, tax residences, controllers and the expected activity as circumstances change. If a structure needs multiple banks, assign a practical role to each instead of accumulating accounts without an operating plan.
Sources & research notes4 references
Sources supporting this guide. Research draft awaiting editorial review.
- National Bank of Georgia — licensed commercial banks register
- Matsne — Tax Code, English consolidation 25 June–30 September 2026; September amendment separately reconciled
- Deposit Insurance Agency — coverage level per depositor per bank/microbank
- Deposit Insurance Agency — 1 April 2026 increase to GEL 50, 000