As we wrote in the review article about banks – Georgia is more often seen as a country to store money. This is due to stricter rules for servicing non-residents by banks of the Baltic coast countries. This is why Georgian banks started to interest residents of neighboring countries and CIS countries. It is quite easy to open an account in a Georgian bank for non-residents of the country as well. But first, you need to decide on the bank where you want to get an account.
How to choose a bank?
TIn total there are 15 licensed banks in Georgia:
TBC Bank is the leader in the Georgian banking system. It provides a full range of premium retail banking services. The cost of these services is many times less than in the banks of the European Union and CIS countries. The assets of TBC Bank amount to 15.1 billion Lari and the total share in the Georgian banking system reaches 39.5%.
TBC Bank is the most convenient and loyal bank for foreigners. You can open an account in just one hour. In addition, TBC has many different remote ways to access the account – mobile banking, internet banking, SMS-banking and payment cards, and Visa and MasterCard. All this allows you to easily manage your finances regardless of your location.
Bank of Georgia – is in second place. Its assets have reached 14.8 billion in local currency and its income reaches 343 million GEL, which is only 2% less than TBC Bank’s contribution to the total profit. This is the most developed and largest bank in Georgia, as the number of users exceeds the number of TBC Bank and amounts to 2.4 million users. The company has more than 270 branches throughout the country.
Liberty Bank, BasisBank, VTB Bank, Cartu Bank, ProCredit Bank, Silk Road Bank, Ziraat Bank, Isbank Georgia, Terabank, Halyk Bank Georgia, Pasha Bank Georgia, FINCA Bank Georgia, Credo Bank – we can say that all these banks equally share the third place and the conditions of opening an account for non-residents practically do not differ from the main ones.
All banks in Georgia pay attention to the activities of non-residents because there is supervision by the National Bank. All doubtful operations are subject to additional inspection. Therefore, there is a high risk of account closure for companies that conduct doubtful activities.
How to open a bank account in Georgia?
No matter which bank in Georgia you choose to open an account with:
- Passport and copies;
- Application form;
- Confirmation of address.
You will not be able to open an account with a Georgian bank in another country by yourself, but we can offer you to open an account remotely. For this, you will need a power of attorney with company details. Our employees will draw up this power of attorney and specify the maximum list of actions from opening an account to issuing and receiving a business card.
What services are available for foreigners in all banks of Georgia?
You will be able to open a personal multi-currency account, place money on a term deposit or a deposit, execute payment cards of Visa, MasterCard, and American Express systems (the latter only in the Bank of Georgia). You can also easily use the Internet and SMS banking.
Which bank you should choose and which account is better to open for personal and commercial use will help you to understand our company. Contact us and we will prepare the best offer for you within a few hours.