How to Open a Multi-Currency Bank Account (GEL, USD, EUR) in Georgia Remotely: Step-by-Step
- Tinatin Tolordava
- 5d
- 13 min read
Table of contents
TL;DR
Bank Account in Georgia
Why Georgia Is Becoming a Global Banking Hub
Why Open a Multi-Currency Account in Georgia
Understanding Georgia’s Banking Landscape
What You Need Before Opening a Multi-Currency Account
Can You Open a Bank Account Remotely?
Step-by-Step: How to Open a Multi-Currency Account in Georgia Remotely
Banking Costs and What You Can Expect
Taxes Once Your Account Is Active
Why People Choose Georgia Beyond Banking
How to Avoid Issues When Opening a Bank Account Remotely
How Gegidze Makes Remote Account Opening Simple
Frequently Asked Questions (FAQs)
TL;DR
If you just want the essentials before opening a bank account in Georgia, here’s the short version.
Georgia is a fast, low-friction banking hub
You can open a multi-currency account in Georgia with GEL, USD, and EUR under one profile. The system is stable, foreigner friendly, and much faster than in many EU countries. With a legal representative, you can open your account fully remotely.
Why people choose Georgia over other countries
You get low fees, strong digital banking, SWIFT and SEPA access, and clear tax rules. It works very well for expats, founders, remote workers, and crypto businesses. Many combine their bank setup with individual entrepreneur Georgia status and the Georgia 1% tax regime.
Multi-currency accounts make global income easy
If you earn in USD or EUR and spend in GEL, a Georgian bank lets you hold all three, convert only when it makes sense, and avoid constant FX losses. This is ideal if you invoice abroad, use employer of record Georgia, or run IT and staff augmentation teams from Tbilisi or Batumi.
The banking landscape is simple to navigate
The main players, like TBC Bank Georgia, Bank of Georgia, SOLO, and TBC Concept, all support multi-currency accounts, English interfaces, and solid mobile apps. Each is suitable for a different profile, from digital nomads to higher volume founders.
Requirements are clear and predictable
For individuals, a passport is enough. For companies, you need registration documents, director ID, and business details. For individual entrepreneurs, you link your IE registration and tax ID. Documents in other languages may need English to Georgian translation and notarization.
Yes, you can open a bank account in Georgia remotely
With a Power of Attorney, a provider like Gegidze can open your account without you flying in. You share KYC documents, sign POA, complete basic AML questions. In many cases the account is ready in a few business days, with GEL, USD, and EUR sub-accounts plus online banking.
Banking costs are low and transparent
Personal accounts often have no monthly fee. Business and premium plans are still affordable. International transfers via SWIFT and SEPA are reasonably priced, and currency conversion inside the app is competitive. This matters if you get paid in USD or EUR and budget in GEL.
Taxes are simple if you structure correctly
Georgia uses a flat 20 percent income tax, plus the famous 1 percent turnover tax for qualifying small businesses. Corporate tax is paid only when profits are distributed. VAT applies mainly to local activities. That makes it attractive for remote-first founders, IT agencies, and crypto projects serving clients abroad.
Crypto and Web3 businesses can actually get banking
With the right structure and crypto license in Georgia or VASP-style compliance, banks are willing to work with crypto companies. They will ask for AML policies and source of funds. But compared to many jurisdictions, getting a working account is far more realistic.
Georgia is not just a banking play, it’s livable
The country is considered safe, affordable, and comfortable to live in. Tbilisi has a mild climate. Batumi offers a coastal lifestyle. Many remote workers combine their digital nomad visa Georgia or long stays with local banking and a light tax footprint.
Most problems are avoidable with proper help
Delays usually come from missing documents, unclear business descriptions, or poor translations. Using a local partner avoids this. Gegidze prepares documents, talks to banks, guides compliance, and aligns your account with your legal structure, whether you use an IE, LLC, or EOR setup.
If you want “set and forget” banking in Georgia
Gegidze can handle the entire process. From remote account opening and IE registration to tax setup and ongoing support. You end up with a working GEL, USD, and EUR account in Georgia that supports your global income and keeps your compliance under control.
Bank Account in Georgia
Opening a multi-currency bank account in Georgia is one of the most practical financial decisions for expats, entrepreneurs, crypto businesses, and remote teams operating across borders. Georgia offers simple banking rules, low taxes, fast compliance checks, modern digital banking, and strong access to GEL, USD, and EUR accounts under one profile. The country also supports remote account opening through a legal representative, which makes the process smooth for foreigners who cannot visit in person.
In this guide, you will learn how to open a bank account remotely, which banks support multi-currency accounts, what documents you need, how tax rules apply, how crypto or high-risk businesses can onboard, and what to expect from Georgia’s banking environment. This guide is researched in-depth and written to match what high-intent readers want: clarity, accuracy, and practical steps.
Why Georgia Is Becoming a Global Banking Hub
Georgia has built a reputation as one of the easiest countries for foreigners to open a bank account. The banking sector is stable. The tax system is transparent. Foreigners enjoy equal access to banking services. And the process can be completed remotely when supported by a licensed service provider.
People open accounts in Georgia because the system offers:
Multi-currency accounts
Fast onboarding
Low fees
High banking security
Modern mobile apps
SWIFT and SEPA connectivity
Crypto-friendly policies
Simple tax reporting
Strong privacy protections
A business environment open to foreign ownership
Georgia is also a convenient link between European, Middle Eastern, and Asian markets. This makes it attractive for founders expanding through Employer of Record in Georgia, IT outsourcing companies using IT staff augmentation, and freelancers using Georgia’s 1% tax program under individual entrepreneur Georgia registration.
Foreigners compare Georgia to other destinations and quickly realize the advantage. Setting up an account in Western Europe can take weeks. Georgia does it in days. In some cases, within one business day.
Why Open a Multi-Currency Account in Georgia
A multi-currency account in Georgia lets you hold, send, and receive GEL, USD, and EUR under a single banking dashboard. This is valuable for people with global income streams.
Protect your income from currency volatility
If you are paid in USD but spend in GEL.If you invoice EU clients in EUR.If you need USD liquidity for suppliers abroad.
A multi-currency account gives full control. You do not lose money on forced conversions. You can convert between currencies at the moment you choose. Georgian banks also offer competitive FX rates.
Perfect for freelancers, consultants, and remote workers
Freelancers who work internationally often choose Georgia because they can combine:
A multi-currency bank account
A simple tax system
The Georgia 1% tax system for small businesses
A stable banking environment
Residency options like the digital nomad visa Georgia
Everything integrates. If you register as an individual entrepreneur Georgia, your USD or EUR income flows directly into your account. You pay turnover tax. And you keep your accounting simple.
Ideal for international companies
Foreign companies use Georgian banks for:
Global payroll under employer of record Georgia
Paying contractors
Receiving client payments
Holding EUR or USD reserves
Using Georgia as a regional HQ
Georgia has no currency controls. This is rare. It gives businesses a high level of freedom in cross-border payments.
Strong support for crypto and tech businesses
Georgia is crypto-friendly. The government allows crypto activities under a crypto license in Georgia (also known as VASP license Georgia). Businesses with this license can operate legally and open accounts with banks that support regulated crypto entities.
Crypto founders pick Georgia because:
Low taxes
Stable law
No restrictions on crypto ownership
A defined licensing path
Access to USD and EUR accounts
Clear AML procedures
Some businesses compare this with the VASP license in SVG (St. Vincent), but Georgia offers stronger banking access, better legal stability, and easier operational compliance.
Straightforward banking for foreign residents
Foreigners often ask:
Is Georgia country safe?
Is Georgia safe to visit?
Is Georgia safe for travel?
The answer is yes. Georgia ranks among the world’s safest countries for residents and travelers. This is one reason expats and investors feel comfortable opening bank accounts and relocating funds here.
Understanding Georgia’s Banking Landscape
Georgia has two dominant banks:
TBC Bank Georgia
Bank of Georgia Georgia
Both offer:
Multi-currency accounts
Strong mobile banking
English-language support
Modern compliance systems
Remote onboarding through authorized partners
Premium banking options exist through:
Solo Bank (part of Bank of Georgia)
TBC Concept
These services are ideal for high-income clients or founders managing larger balances.
You can also open accounts at Liberty Bank or Credo Bank. These banks are smaller but may appeal to specific industries.
Before you open an account, you need to understand the compliance rules. Georgian banks follow international AML standards. They may ask for:
Proof of income
Source of funds
Company documentation
Tax status
Business activity details
This is standard everywhere. Georgia is no exception, but the process tends to be faster than in EU banks.
What You Need Before Opening a Multi-Currency Account
Passport and identification
Any foreign individual can open a personal account with a valid passport. No residency permit is required.
For business accounts
If you open an account for a company registered in Georgia or abroad, you will need:
Certificate of registration
Extract from the business registry
Charter
Passport of director
Proof of company address
Information about shareholders
Business activity details
If your company operates in IT, AI, gaming, or outsourcing, this is often enough. If you operate in crypto, banking, finance, or regulated fields, banks will ask for extra AML documents.
For Individual Entrepreneur (IE) accounts
If you register as an individual entrepreneur Georgia, you must show:
Your IE registration document
Your Georgian tax ID
Basic business description
Many freelancers complete IE registration to access the Georgia 1% tax regime. The bank account needs to match the IE structure, since it becomes your official business account.
Translations and notarization
Most banks accept documents in English. If a document is in another language, you may need:
English to Georgian translation
Notarization
Stamp from a certified translator
Georgia has many translation services. You can find support for georgian to english translation and vice versa.
Can You Open a Bank Account Remotely?
Yes. Foreigners can open a Georgian multi-currency account without traveling to Georgia. This is done through a Power of Attorney (POA) given to a licensed representative such as Gegidze.
The representative verifies your identity in-person at the bank, submits documents, and secures account approval. You do not need to be physically present. This is a major advantage compared to EU banks.
Remote account opening requires:
Passport scan
Proof of address
AML questionnaire
Signed POA
Video confirmation (in some cases)
The process usually takes one to three business days after documents are complete.
Step-by-Step: How to Open a Multi-Currency Account in Georgia Remotely
Here is the full process. Each step applies to individuals, freelancers, crypto founders, and companies.
Step 1: Choose the bank
The options include:
TBC Bank
Bank of Georgia
Liberty Bank
Solo
TBC Concept
If you want premium service and fast support, Solo and Concept are the best choices. If you want strong USD availability, TBC and Bank of Georgia are ideal.
Step 2: Prepare all documents
Your documents will depend on whether you are opening a personal account, business account, or IE account.
Documents must be:
Clear
Translated if needed
Notarized if required
Compliance officers will ask about your income source and activity.
Step 3: Sign a Power of Attorney
This allows your representative to visit the bank on your behalf. The POA can be signed online and apostilled if required by the bank.
Step 4: Identity verification
Your representative verifies your identity at the bank. Some banks may require you to join a video call.
Step 5: Account opening
Once approved, the bank activates:
GEL account
USD account
EUR account
You receive online banking access and can add a debit card or virtual card.
Step 6: Fund the account
You can fund your account through:
International wire
SEPA transfer
SWIFT transfer
Local deposit
Crypto exchange transfers require documentation for compliance.
Banking Costs and What You Can Expect
Banking in Georgia is straightforward and cost-effective. Many expats compare it with Western Europe or the US and are surprised by how simple and affordable it is to maintain a multi-currency account holding GEL, USD, and EUR.
Why banking in Georgia feels easier
Transparent fee structure
Fast onboarding for foreigners
No hidden charges for multi-currency profiles
Strong digital banking apps (TBC, Bank of Georgia, SOLO)
Easy integration for freelancers, remote workers, and international founders
Account maintenance
Personal accounts often come with no monthly fee
Business accounts may cost a small monthly amount
Premium accounts cost more but offer:
Priority service
Concierge help
Exclusive branches
Better international card limits
International transfers
Georgia’s banks support both SWIFT and SEPA, which is ideal if you invoice clients abroad or operate a global team.
Incoming transfers → often free
Outgoing USD transfers → small percentage fee
Outgoing EUR transfers (SEPA) → cheaper and faster
Useful for freelancers or companies paid in Europe or the US
Currency conversion
Inside your mobile banking app you can instantly switch between GEL, USD, and EUR.
Why users like it:
Competitive FX rates
Instant conversion
Flexibility to hold income in USD or EUR
Control over when to convert to GEL
This structure is especially useful for digital nomads, entrepreneurs under Georgia’s 1% tax regime, and companies running international operations.
Card and ATM access
Digital cards available immediately
International Visa/Mastercard options
ATM withdrawals in Georgia → usually free at your bank’s ATMs
ATM withdrawals abroad → small fee, still cheaper than many Western banks
Overall, banking in Georgia is built for mobility. Whether you manage a startup, work remotely, or receive global payments, the system is designed to reduce friction.
Taxes Once Your Account Is Active
Opening a bank account is simple. Using it correctly under Georgian tax rules is where planning matters. Georgia offers one of the easiest tax systems globally, but only if you understand how to align your banking with your tax status.
Core tax structure in Georgia
Flat 20% income tax on salaries
1% turnover tax for qualifying individual entrepreneurs
Corporate tax only on distributed profits
VAT applies only to domestic transactions or when crossing the VAT threshold
This setup makes Georgia attractive for freelancers, tech entrepreneurs, international companies, and crypto founders.
If you're an individual entrepreneur
Many expats choose the individual entrepreneur structure to access Georgia’s 1% tax regime.
You get:
Simple monthly reporting
Access to multi-currency accounts
Legal business status for global invoicing
Very low tax burden
If you're running a company
Companies benefit from:
Corporate tax only when profits are distributed
No tax on reinvested profits
Access to digital filing systems
Optional VAT registration
This supports founders using Georgia for IT services, EOR operations, or product development.
VAT considerations
You must register for VAT if:
Your turnover passes the threshold
You import goods
You choose to register voluntarily (some do this to reclaim VAT)
Freelancers serving foreign clients rarely need VAT because their income is foreign-sourced.
Compliance you need to maintain
Monthly tax declarations for turnover tax
Annual income tax filings
Record keeping of invoices, contracts, receipts
Updated profile for the Revenue Service
Georgia’s digital tax portal makes this process fast, but accuracy matters. This is especially true when applying for residency, tax residency, or special tax statuses.
Crypto and blockchain companies
Georgia is friendly toward digital asset businesses.Banks will onboard crypto-related companies if:
Documentation is complete
AML procedures are clear
Source of funds is traceable
This is a major advantage for founders who struggle to access banking in the EU or US.
Who Remote Banking in Georgia Works Best For
Georgia’s banking system is ideal for anyone earning or operating internationally. Multi-currency accounts and simple taxes make it suitable for a wide range of users.
Freelancers and digital nomads
Receive income in USD or EUR
Convert to GEL instantly
Pair banking with the 1% tax regime
Keep compliance simple
This group includes IT professionals, designers, consultants, developers, and global service providers.
International companies
Use GEL accounts for payroll
Use USD/EUR accounts for invoicing
Integrate with Employer of Record structures
Outsource IT or customer service teams easily
Georgia offers modern banking infrastructure and a labor market that's attractive for outsourcing and staff augmentation.
Crypto founders and Web3 teams
Friendly environment for blockchain projects
Clear compliance expectations for VASP-type activity
Possibility to open USD/EUR accounts when properly documented
This makes Georgia a practical alternative to stricter jurisdictions.
IT outsourcing firms
Smooth multi-currency payroll for developers
Easy invoicing in USD or EUR
Strong local talent pool
Low-cost operations
Georgia is now a recognized destination for tech teams and remote-first companies scaling globally.
Why People Choose Georgia Beyond Banking
People rarely choose a banking jurisdiction based only on the banking system. Georgia attracts long-term residents because life here simply works.
Safety
Foreigners often ask: Is Georgia safe?The answer is yes. Georgia consistently ranks among the safest countries in the region. This gives expats and entrepreneurs confidence when relocating.
Climate
Tbilisi → warm summers, mild winters
Batumi → subtropical and coastal
Mountain regions → cooler climates
The variety helps digital nomads settle in a place that fits their lifestyle.
Low cost of living
Affordable rent
Reasonable food costs
Accessible healthcare
Favorable for USD/EUR earners
Income stretches further in Georgia than in Western Europe or North America.
Easy transportation
Buses linking major cities
Reliable trains
Affordable domestic flights
Simple car rental
Daily life is uncomplicated, which pairs well with a low-bureaucracy banking system.
When costs stay low and life stays stable, managing finances becomes easier.
How to Avoid Issues When Opening a Bank Account Remotely
Remote banking is smooth when everything is prepared. Most delays happen for predictable reasons.
Common issues
Missing documents
Incomplete identity verification
Unclear business descriptions
High-risk sectors without proper AML documentation
Poor or incorrect translations
Miscommunication with banks
How to avoid delays
Prepare a clear business activity explanation
Use certified translators for non-English / non-Georgian documents
Provide proof of funds and income sources
Avoid vague business descriptions
Use a local representative to handle communication
Remote onboarding can take one to three days when everything is structured correctly.
How Gegidze Makes Remote Account Opening Simple
Gegidze handles the entire process from start to finish. You do not need to travel. You do not need to navigate bank procedures alone. You sign a power of attorney. We do the rest.
What the team covers
Identity verification
Submitting documents to the bank
Selecting the right bank for your needs
Compliance preparation for freelancers, companies, or crypto projects
Opening GEL, USD, and EUR accounts under one profile
Helping with digital cards and online banking access
Why clients choose Gegidze
Faster communication with banks
Clean documentation that avoids compliance issues
Local understanding of what each bank requires
Ability to integrate banking with IE registration or company formation
Ongoing support if your business grows or changes
The result is a smooth, predictable setup for anyone who wants to bank in Georgia remotely.
Frequently Asked Questions (FAQs)
Do I need to visit Georgia to open a bank account?No. You can open an account remotely through a local representative with a valid power of attorney.
Can foreigners hold USD, EUR, and GEL in one account?Yes. Georgian banks support multi-currency accounts for non-residents and residents.
Are Georgian banks safe?Yes. The two main banks are publicly listed, regulated, and operate under international standards.
Does opening a bank account make me a tax resident?No. Tax residency depends on time spent in the country, not banking activity.
Can crypto businesses open accounts in Georgia?Yes. Banks accept regulated crypto companies with proper documentation
