Did you know that more and more people are choosing to open bank accounts in Georgia? This country, known for its natural beauty and rich, ancient culture, is gaining popularity thanks to a solid and accessible banking system. In this article, we explain why this option may be perfect for you, whether to manage your business, invest in real estate, or activate deposits in laris. Read to the end to find out if Georgia is the financial destination you need and how Your Company in Georgia can help you every step of the way.
Why Choose Georgia for your Finances?
Georgia not only offers stunning landscapes and a fascinating history, but also a banking system that is attracting investors and expatriates from around the world. But before we dive into the details, it is important to clarify a key point: opening a bank account in Georgia does not exempt you from paying taxes in your country of residence or where you generate your income. If your goal is to hide capital from the authorities in your country of origin, this is not the right solution. However, if you are looking to diversify your assets, explore real estate investments, or take advantage of high interest rates on deposits, Georgia could be your next big opportunity. Read on to find out how!
The Secrets of Banking in Georgia
1. Simple Opening with just your Passport
The process to open a bank account in Georgia is quick and does not require you to be a resident. At Your Company in Georgia, we take care of everything for you, guiding you step by step so you don’t have to worry about the paperwork. With just your passport, you can start this financial adventure.
2. A Solid and Secure Banking System
The Georgian banking system is stable and follows strict regulations that guarantee the security of your funds. The two main banks, TBC Bank and Bank of Georgia, are listed on the London Stock Exchange, which ensures transparency, access to global financing, and compliance with high international standards. This generates confidence among investors and reinforces the stability of the country’s financial market, making it an attractive option to diversify your capital.
3. Is My Money Safe?
In Spain, deposits are guaranteed up to 100,000 euros per holder and entity thanks to the Deposit Guarantee Fund. For example, if you and your partner have 120,000 euros in an account, everything is covered; but with 240,000 euros, only 200,000 euros would be guaranteed. In Georgia, there is no guarantee level as high as in Europe, as it is not part of the European Union. However, despite the absence of such a high guarantee fund, the Georgian banking system has demonstrated stability and remarkable growth, thanks to modern regulations and the presence of banks such as TBC Bank and Bank of Georgia, making it a reliable option.
4. Diversify your Assets with Deposits in Laris
Opening an account in Georgia allows you to diversify your assets in a different market. For example, you can open a deposit in laris with interest rates that have reached between 10% and 13% per year in recent years (according to data up to 2022). There are two types:
- Fixed deposit: You cannot withdraw the money during the agreed term.
- Variable deposit: Allows withdrawals, with a slightly lower interest rate, but offers more flexibility. Is this high interest due to a fluctuation of the lari? Although 12% per year is attractive compared to other countries, the lari exchange rate may vary. Georgia has maintained moderate inflation and a stable economy, reducing exchange risk if you plan to spend or invest locally. However, in March 2020, during the COVID-19 pandemic, the lari devalued significantly (USD/GEL reached 3.47), nullifying gains in strong currencies such as the USD or EUR if the devaluation exceeds 12% per year. That said, the current economy suggests that deposits in laris are an interesting option, and many clients, including myself, have part of our savings in Georgian banks. We recommend that you check the current rates with your bank, as they may vary.
5. Multi-Currency Accounts: Global Flexibility
One of the advantages most valued by our clients is the multi-currency account, available in euro, dollar, lari, and pound sterling. This allows you to control and move your money from abroad with ease, operating in different currencies and maintaining balances in all of them.
6. Premium Banking from €10/Month
For only 120 euros per year (about 350 laris at the current exchange rate, according to July 2025 rates), you can contract a premium banking service. This includes:
- A personal banker assigned to help you by phone, WhatsApp, or Telegram.
- Cards such as Visa Premium, Mastercard, or even American Express.
- Free access to VIP lounges in airports worldwide. This service is ideal not only for residents, but also for those who live outside Georgia and are looking for an active and well-managed account.
7. Remote Service with Power of Attorney
You do not need to travel to Georgia to open your account. With a power of attorney issued in your country of origin (which we translate and certify in Georgia), Your Company in Georgia can act on your behalf to open the account and manage card shipments to your home. For example, we recently helped a client in Andorra whose account was blocked due to an expired passport. Thanks to their power of attorney, we solved the problem in minutes. We take care of everything, from drafting the power of attorney to opening and future assistance.
8. Real Estate Investment
With a Georgian account and a personal banker, you will have exclusive access to real estate investment opportunities. Banks have agreements with local construction companies, offering privileged information, low-cost financing, and specialized advice.
9. Cryptocurrencies: an Evolving Relationship
Georgian banking has been open to cryptocurrencies, allowing transactions with exchanges such as Binance or Nexo. However, the National Bank of Georgia (NBG) introduced mandatory supervision in 2024 for virtual asset service providers (VASP) to combat money laundering. This could influence future operations. If cryptocurrencies are key for you, contact us for updated information at the time of opening your account.
10. CRS: Common Reporting Standard
According to the CRS, Georgian banks collect tax data from their clients for the NBG. Although Georgian banks collect tax data under the CRS and, in some cases, share it with cooperating countries, notification to the authorities in your country depends on specific bilateral agreements. This means that if you have an account here, the tax authorities in your country may be notified of its existence. So, again, do not use Georgia to evade taxes.
