Remote Crypto Business Setup: How to Establish a Compliant Web3 Company in Georgia via POA

Name: Gegidze – A Better Future of Business
Brand: Gegidze
Rating: 5.0 (58 reviews)

Tinatin Tolordava
Nov 30
12 min read

Table of contents

TL; DR

Remote Crypto Business Setup

Why Georgia Is Becoming a Global Banking Hub for Web3

Why Open a Crypto or Web3 Company in Georgia

Understanding Georgia’s Banking Landscape for Crypto Companies

What You Need Before Opening a Web3 Company via POA

Can You Open a Crypto Company in Georgia Fully Remotely? Yes.

Step-by-Step: How to Establish a Web3 Company in Georgia via POA

Banking Considerations for Crypto and Web3 Companies

Tax Options for Web3 Companies in Georgia

Crypto Licensing and VASP Expectations in Georgia

Why Remote Setup Makes Sense for Web3 Founders

Why People Choose Georgia Beyond Regulations and Banking

How to Avoid Issues When Setting Up a Web3 Company Remotely

How Gegidze Makes Remote Web3 Setup Simple

Frequently Asked Questions (FAQs)

TL; DR

You can set up a remote crypto or Web3 company in Georgia without flying in. Using a Power of Attorney (POA), a local partner like Gegidze can register your entity, open bank accounts, handle tax registration, and deal with AML checks while you stay abroad.
Georgia is one of the easiest countries to open a bank account for crypto business. Banks like Bank of Georgia, TBC Bank, SOLO, and TBC Concept support multi-currency accounts in GEL, USD, EUR, as long as your Web3 model is clear and your documentation is clean.
The country is very attractive for Web3 founders, DeFi builders, NFT studios, DAO contributors, analytics and tooling teams, because banking is practical and the state does not ban or criminalize crypto. Georgia is more bank friendly than many EU and US jurisdictions for legitimate, well-structured projects.
You can operate as an LLC or an individual entrepreneur in Georgia. Many service-based founders, such as smart contract developers, auditors or Web3 consultants, use the Georgia 1% tax regime, while larger or token-focused projects use an LLC that pays 15 percent only on distributed profit and 5 percent on dividends.
There is no formal “crypto license in Georgia”, but high risk projects are expected to follow VASP style standards. If you manage client wallets, move assets, or act like an exchange, you will need AML and KYC policies, transaction monitoring, and internal controls. This is often easier and lighter than chasing a VASP license in SVG or other heavy EU frameworks.
Georgian banks are not anti crypto. They are anti ambiguity. They want a clear explanation of your Web3 business model, how crypto turns into fiat, who your clients are, and proof that funds come from legitimate sources. With simple AML documentation and clear workflows, approvals are usually fast.
All core steps work remotely. With POA, Gegidze can:

Register your company
Open multi currency bank accounts
Prepare AML and compliance documents
Set up monthly accounting and reporting
Connect your structure to employer of record Georgia or IT staff augmentation if you build a local or hybrid team

Georgia is not only compliant and low tax, it is also safe, affordable, and comfortable to live in. Many founders use it as a base for digital nomad life, remote teams, and long term Web3 projects, while keeping operations lean, legal, and bank supported.
If you want a compliant Web3 company in Georgia via POA with working banking, low taxes, and realistic AML standards, the fastest path is to work with a local partner who speaks the language of both banks and regulators. That is exactly what Gegidze does.

Remote Crypto Business Setup

Setting up a crypto or Web3 company no longer requires being in the same country as your operations. Georgia has become one of the few jurisdictions where a founder can establish a compliant, bank-supported digital asset business fully remotely, using a Power of Attorney (POA). This makes Georgia a strategic base for blockchain developers, token projects, NFT studios, DAO contributors, analytics platforms, and crypto consulting companies that want a stable, low-tax, bank-friendly home.

This guide explains how the system works and how to structure your Web3 business so that banks, regulators, and compliance teams in Georgia understand and accept it. Everything here is written for founders, engineers, DeFi builders, and remote-first teams who want a jurisdiction that combines predictable compliance with simple operations.

Why Georgia Is Becoming a Global Banking Hub for Web3

Georgia has earned a reputation as one of the easiest countries to open a bank account, register a company, or manage international finances. Unlike the EU or US, the banking sector here is not hostile toward crypto as long as the business maintains clean documentation and transparent operations.

Why crypto founders choose Georgia

Straightforward banking with access to GEL, USD, and EUR
Faster onboarding for international companies
Stable system backed by publicly listed banks
No restrictions on owning or holding digital assets
Clear AML expectations for crypto-related activity
Predictable tax structure
Ability to open accounts and register companies entirely remotely
Flexible options for IE registration, LLCs, and larger structures

Georgia offers what many founders seek: a place that is fast, compliant, and open to Web3 without unnecessary bureaucracy.

How Georgia compares

Faster than Western Europe for opening accounts
More bank-friendly toward crypto than the US or UK
Lower taxes than most EU regions
No currency controls, allowing free movement of capital
Attractive to digital nomads, contractors, and IT teams

Crypto, Web3, and blockchain companies enter Georgia for efficiency. They stay because the system rewards transparent, well-organized businesses.

Why Open a Crypto or Web3 Company in Georgia

A Web3 business needs a stable base with predictable taxation and a banking partner that understands blockchain activity. Georgia offers that stability while giving founders the ability to operate remotely.

Multi-currency freedom

A Georgian company can hold income in:

USD for global clients
EUR for European partners
GEL for local operations

This is ideal for dev teams, crypto educators, exchange consultants, or NFT studios already earning in multiple currencies.

A simple tax environment

Whether you operate as an LLC, an individual entrepreneur under Georgia’s 1% tax model, or a hybrid structure, the rules remain easy to follow. Crypto-related service providers—like developers, analysts, or Web3 agencies—often benefit from the IE route when their activity is service-based.

No restrictions on crypto ownership

Georgia does not criminalize crypto. Banks simply need clarity. If your business:

does not custody client assets,
does not run a centralized exchange, and
can show clean documentation,

you can onboard without major barriers.

Flexible residency and remote operation

Founders who do not want to relocate permanently can still operate legally from abroad.Georgia supports:

remote company registration,
remote banking,
long-term operation without residency,
optional relocation for tax residency if needed.

Digital nomads use Georgia as a base of operations without uprooting their lives.

Crypto licensing when needed

Some Web3 companies need a structured compliance setup similar to a VASPs (virtual asset service provider).Georgia allows companies to operate crypto-related services if they follow AML rules, document internal processes, and provide clarity.This is often easier than pursuing a VASP license in SVG, while offering stronger banking access and a stable banking sector.

Understanding Georgia’s Banking Landscape for Crypto Companies

Georgia’s main banking institutions are known for speed and transparency, which is rare in the crypto sector.

Main banks that work with foreign founders

Bank of Georgia
TBC Bank

Both offer:

multi-currency support,
strong mobile apps,
online banking,
English support,
structured AML teams familiar with Web3.

For higher-income teams, SOLO or TBC Concept offer premium service with better queues, direct communication channels, and dedicated client managers.

Smaller banks

Liberty Bank
Credo Bank

These may appeal to niche industries or specific client needs.

What banks need from crypto businesses

Banks in Georgia are not anti-crypto. They are anti-ambiguity.This means you will succeed if you provide clarity.Banks usually require:

your business model explained in simple language,
the source of client payments,
proof that you do not custody client assets without controls,
evidence that all crypto-to-fiat conversions are traceable,
internal AML rules for high-risk operations.

If a founder cannot explain their business clearly, the bank will delay or deny onboarding. But when documentation is solid, approvals are usually fast.

What You Need Before Opening a Web3 Company via POA

Remote company setup in Georgia works because the required documents are straightforward.

For founders

Passport
Proof of address
Short business description
AML questionnaire
Signature for POA

For the company

Name of the company
List of shareholders
Activity details (especially important for Web3)
Address for registration
Articles of incorporation

For crypto projects

Crypto founders need to be more organized than traditional founders. Banks expect:

a clean explanation of how revenue is generated,
lists of tools or platforms used (e.g., smart contract work, audits, protocol assets),
workflow documents showing how crypto becomes fiat,
reassurance that you do not run a custodial exchange unless you have a compliance program.

Translations

If any document is not in English or Georgian, it must be translated through certified translation services.This applies to:

registration documents from foreign jurisdictions,
shareholder agreements,
identification documents in another script.

Can You Open a Crypto Company in Georgia Fully Remotely? Yes.

Georgia is one of the only crypto-friendly jurisdictions that allows:

remote company registration,
remote banking,
remote tax onboarding,
remote accounting setup.

Everything is done using a Power of Attorney (POA).

What POA allows

Your appointed representative can:

register your company,
sign all foundational documents,
complete tax registration,
open a bank account,
communicate with AML teams on your behalf.

You do not need to travel, apply for residency, or complete any in-person appointments.

What you must do as the founder

Submit scanned identification
Approve the POA
Complete a quick video verification if a bank requests it
Share a clean business description

After this, the process is handled locally.

Step-by-Step: How to Establish a Web3 Company in Georgia via POA

Here is the complete remote setup workflow. Each step applies to individuals, LLCs, dev studios, or crypto-native teams.

Step 1: Sign the POA

The POA is the key that allows everything else.You receive a draft.You sign it.You apostille it if needed.

Once submitted, a representative gains permission to:

register your company,
submit bank paperwork,
complete all local requirements.

Step 2: Register the company

Your representative registers the company at the Public Registry.This usually takes one business day.You receive:

company registration certificate,
shareholder records,
a Georgian tax ID.

LLCs are common for crypto teams, but developers and auditors sometimes choose the Individual Entrepreneur model for the 1% tax.

Step 3: Open the bank account

The most important step for crypto teams.Your representative goes to the bank and handles onboarding.Banks will ask about:

your revenue model,
whether you custody client funds,
how you convert crypto to fiat,
who your clients are,
which jurisdictions you work with.

When documentation is clear, approval usually takes a few days.You receive:

USD account
EUR account
GEL account
Online banking
Optional corporate card

Step 4: Set up compliance documentation

If your business interacts with crypto in any meaningful way, you must prepare:

an AML policy,
workflow documentation,
proof of source of funds,
internal roles and responsibilities.

This is not complicated.It just needs to be clear.Georgia rewards transparency.

Banking Considerations for Crypto and Web3 Companies

Banking is the most sensitive point for any crypto business. Georgia stands out because banks review Web3 companies with a practical mindset. They do not blanket-reject crypto activity. They simply expect clarity, documentation, and a transparent revenue model.

What Georgian banks want to understand

Banks assess risk. For crypto businesses, they need to know:

Whether you custody client funds
How and where crypto converts to fiat
Who your clients are
How you generate revenue
Whether you follow AML standards
That your operations align with your registered business activities

If your business operates without custodial services, onboarding is usually easier. Development studios, blockchain consultants, auditing teams, AI automation firms, analytics providers, tooling companies, NFT creators, and dev-shops often onboard smoothly because their income is service-based and non-custodial.

Why Georgia is more flexible than many jurisdictions

In the EU, crypto companies face strict licensing that makes banking nearly impossible without expensive regulation. The US environment is also unpredictable. Many founders choose Georgia because:

Banks follow clear AML logic
Non-custodial services are accepted
Multi-currency accounts are available
Documentation requirements are reasonable
Approval is faster when supported by a local representative

This combination allows Web3 founders to operate legally while avoiding the delays common in other countries.

How to avoid banking delays

Crypto companies experience delays when documentation is unclear. You improve approval speed by preparing:

A short explanation of your activity
A clear service list (dev, consulting, analytics, etc.)
Workflow diagrams for crypto-to-fiat
Descriptions of clients and jurisdictions
Proof that funds come from legitimate sources

Gegidze prepares these documents for you so the bank receives everything in the format they expect.

Tax Options for Web3 Companies in Georgia

Georgia’s tax system is simple and attractive for crypto-related service providers. The structure allows founders to choose the model that fits their income and company size.

LLC taxation

Most Web3 companies register as an LLC. The rules are straightforward:

15 percent tax on distributed profits only
No tax on profits that stay inside the company
5 percent dividend tax
No tax on reinvested earnings

This is useful for Web3 companies that reinvest in growth, such as dev studios, tooling companies, and blockchain infrastructure providers.

Individual Entrepreneur structure for developers and consultants

If your activity is service-based, you may qualify for individual entrepreneur status. This structure allows:

1 percent turnover tax for qualifying activities
Simple monthly reporting
International invoicing without complexity
Access to multi-currency accounts in your own name

This model fits smart-contract developers, auditors, UX/UI designers in Web3, community managers, and blockchain consultants.

When IE is not suitable

IE does not fit:

Token-based businesses
Custodial platforms
Exchange-like operations
High-volume automated systems

These require an LLC with a compliance framework.

VAT considerations

Most Web3 activity is exported and does not require VAT registration. You may need VAT if:

You sell to Georgian clients
You import goods
You exceed the VAT threshold
You want to reclaim VAT on certain purchases

Foreign-sourced income usually remains VAT-free.

Crypto Licensing and VASP Expectations in Georgia

Georgia does not currently issue a formal “crypto license,” but banks and regulators expect VASP-style compliance from high-risk Web3 companies. This gives founders more flexibility while maintaining legal clarity.

When you need a VASP-style structure

You need a compliance framework if you:

Manage client wallets
Facilitate asset transfers
Hold crypto on behalf of users
Provide exchange-like functions
Operate as a marketplace with custodial elements

In these cases, Gegidze prepares:

AML and KYC policy
Transaction monitoring procedures
Customer onboarding flows
Internal controls
Risk assessment documents

This framework allows you to operate in Georgia while staying compliant with local AML expectations.

Comparison with other jurisdictions

Many founders compare Georgia with:

Lithuania
Estonia
Switzerland
UAE
VASP license in SVG

Georgia offers a simpler path because it avoids heavy licensing while still respecting global compliance standards. This lets Web3 teams operate quickly while staying aligned with banking requirements.

Why Remote Setup Makes Sense for Web3 Founders

Running a Web3 company does not require physical presence. Georgia’s remote-friendly system removes obstacles that are common in other countries.

Benefits of remote setup through POA

No need to fly to Georgia
No need to apply for residency
No need for in-person bank interviews
Faster company formation
Lower setup cost
Immediate operational readiness

This is ideal for digital nomads, remote-first teams, DAO contributors, and founders with collaborators across time zones.

Why Web3 companies avoid physical relocation

Most Web3 founders work globally. They prefer:

Freedom to move
No long-term visa demands
Flexibility for conferences and travel
Ability to build teams remotely
Access to staff augmentation or EOR services

Georgia supports this lifestyle while giving founders a stable legal base.

Why People Choose Georgia Beyond Regulations and Banking

Crypto founders do not choose Georgia only because it is bank-friendly. They choose it because the entire environment makes global operations easier.

Safety and stability

Foreigners often check whether Georgia is safe to visit or safe for long-term residency. Georgia consistently ranks as one of the safest countries in the region. This reliability gives remote teams confidence that their company and banking setup is secure.

Climate and lifestyle

Tbilisi has mild winters and warm summers. Batumi offers a subtropical coastline. Mountain areas bring cooler weather. This range appeals to digital nomads who want comfort while building long-term Web3 projects.