Georgian banking is one of the more accessible parts of a Georgian move - in many cases, but not all. Compliance has tightened materially since 2023; banks are professional and well-staffed; the cases that open cleanly are the ones with clear documentation and no source-of-funds gaps.
The main banks
The two leading Georgian banks - TBC Bank and Bank of Georgia - between them serve most of the cross-border-mover market. Liberty Bank and others have their own niches. International banks have a more limited presence.
Personal banking
For new residents and qualifying non-residents:
- Passport
- Georgian residence permit or qualifying documentation
- Proof of Georgian address (lease or utility)
- Source-of-funds documentation for material opening transfers
- Tax-residence declarations under CRS
Multi-currency accounts (GEL, USD, EUR, sometimes others) are standard.
Corporate banking
For Georgian LLCs:
- Formation documents (Georgian Public Registry)
- UBO documentation with tax residencies of all UBOs
- Source of opening capital
- Business plan / activity description
- Director identification
- Substance evidence - real Georgian presence, real activity plans
Clean cases open in weeks. Cases with elevated source-of-funds risk profiles, complex multi-jurisdiction structures, or sensitive sectors face longer onboarding or are declined.
What's tightened
Since 2023, Georgian banks have been notably more selective. Areas of focus include:
- Russia / Belarus-linked source-of-funds patterns
- Crypto-linked flows and structures
- Sectors with elevated AML risk
- Cases without clear documentation of wealth accumulation
- Structures that appear to substitute for substance
What stays straightforward
- Clean salary-funded movers
- Founders with documented exit proceeds
- IT professionals with clear employer / client history
- Genuine Georgian operations with substance
- Family-led moves with standard income patterns
What we tell movers and founders
- Plan banking before forming the company.
- Prepare the source-of-funds story documented and ready before the first application.
- Be honest about the UBO profile and tax residencies; banks will figure it out.
- For sensitive cases, pre-approval conversations with the bank can save a formal decline.
- Use multi-currency strategically.
- Keep declarations consistent across the bank, residency permit, and tax filings.
Georgian banking is workable for the right profiles - and increasingly less workable for the wrong ones.