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Bank accounts for foreigners: how to open one in Georgia

Georgia is one of the most open countries for foreigners. It is easy to open a personal or corporate bank account here, which makes the country convenient for both living and doing business. In this article, we will tell you how a foreigner can open an account in a Georgian bank, what documents are required, and what advantages this offers.

Why Georgia’s banking system is convenient for foreigners

  • A simple account opening procedure, even for non-residents.

  • Most banks offer services in English and Russian.

  • The ability to open multi-currency accounts (GEL, USD, EUR, etc.).

  • Unlimited access to online and mobile banking.

  • No currency controls on transfers.

Main types of accounts

1. Personal account

  • Can be opened in national currency (lari) and foreign currencies.

  • Access to Visa and Mastercard debit cards.

  • Convenient mobile apps for account management.

2. Corporate account

  • Required for registration and conducting business.

  • Allows you to accept payments in different currencies.

  • Banks often offer packages with accounting support and integration with the tax system.

What documents are needed to open an account

For a personal account:

  • Passport (foreign).

  • Sometimes you may be asked for a Georgian phone number and residential address (a rented one is acceptable).

For a corporate account:

  • Company’s founding documents.

  • Passport of the owner/director.

  • Office lease agreement (sometimes required).

Popular banks in Georgia

  • Bank of Georgia (BOG) is the largest bank with developed online banking.

  • TBC Bank — convenient mobile services, English language support.

  • Liberty Bank — simple terms, popular among individuals.

  • BasisBank, ProCredit — suitable for small businesses and foreign customers.

Tips for opening an account

  • Find out in advance which bank offers the most convenient service in English.

  • If you are opening a corporate account, choose a bank with favorable rates for businesses.

  • Be sure to connect to online banking and the mobile app.

  • Keep copies of all documents — they may be needed for tax reporting.

Frequently asked questions

Question: Can a foreigner without a residence permit open an account?
Answer: Yes, in most banks a passport is sufficient.

Question: Can I open an account remotely?
Answer: Usually, you need to be there in person, but some banks will open an account online if you have a power of attorney or a Georgian representative.

Question: Are there any restrictions on transfers?
Answer: There are no currency controls, you can transfer money to any country.

Conclusion

Opening a bank account in Georgia is a simple and quick process, available even to foreigners without a residence permit. Accounts in Georgian banks allow you to conveniently manage your personal finances, invest in real estate, and conduct business without unnecessary bureaucratic procedures.

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