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Bank account in Georgia in 2023

Opening an account in Georgia in 2023

04. 05. 2023
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Georgia is one of the few countries where it is possible to become a bank client by proxy. But this option often does not work, especially if the intermediary does not know what levers to pull. As for being present in person, opening an account in Georgia in 2023 is always possible if the applicant submits all documents.

Advantages of a bank account in Georgia

A foreigner cannot do without a bank account in Georgia if they live in this country. Through it, s/he can make various transactions, pay utility bills, etc.

Among other advantages of opening a bank account in Georgia:

  • High reliability;
  • Minimum bureaucratic procedures;
  • Higher level of confidentiality - the country does not transfer financial data to the tax authorities of other countries;
  • It is possible to work with the account immediately after it is opened;
  • Possibility of remote registration of the account;
  • The minimum amount on the account is not required;
  • The possibility of making transactions in dollars and euros.

Where to Open a Bank Account for Non-Residents

Several major financial institutions in Georgia work with foreigners and give allow them to open an account remotely. The most popular are TBC Bank and Bank of Georgia. They provide non-residents with a wide range of services, including:

  • International payment system cards - Visa and Mastercard. If American Express is required, you should contact Bank of Georgia.
  • Open deposits with or without prepayment.
  • Сurrency exchange.
  • Mortgage and other loans.

These banks can work with your money through online banking or a mobile app.

How to open an account for a non-resident

Opening a bank account in Georgia in 2023 is not a complicated procedure for an alien if he or she has provided all the paperwork. Many banks require a residence permit or other documents proving the applicant is legally in the country.

One must provide the following documents:

  • Application.
  • Passport or other form of identification.
  • Proof of residency (utility bill, bank statement with address, etc.).
  • Documents confirming the source of income - earnings certificate, account statement, or documents related to the business if the applicant is an entrepreneur.

The bank officer can ask for other documents, e.g., a reference letter from another bank. For some types of accounts and transactions there may be additional requirements and limits, including minimum balance or maximum amount of transfers.

How long does it take to open an account in Georgia

Georgia is notable because it takes one day to open an account. Immediately after that, the account can be actively used. The client will find its details in the contract.

How to open an account for a foreigner in Georgia

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