If the company is not registered yet, start with the guide How to register as an individual entrepreneur in Georgia, or ask us about LLC incorporation.
What Georgian banks require to open a corporate account
BEPS requirements and economic presence
Since the start of 2021, Georgian banks require corporate clients to prove the company's operating presence in Georgia under BEPS (Base Erosion and Profit Shifting). Without that proof a bank will refuse to open an account, even with a flawless set of registration documents.
BEPS is a set of OECD standards against tax base erosion that Georgia has joined. Applied to banking compliance: the bank must be satisfied that the company is not a shell.
What is accepted as proof of presence:
- An office lease or a registered legal-address agreement.
- Contracts with counterparties or clients.
- Employment contracts with staff or service contracts with contractors.
- Invoices issued for actual transactions.
The standard registration package
Beyond the substance documents, the bank will request:
- An extract from the register (the LLC or IE registration certificate).
- The company charter.
- Identity documents of the director and beneficial owners.
- The decision appointing the manager.
- For a complex ownership structure: documents on every link in the ownership chain.
If the director or beneficiary is a non-resident, some banks ask for additional information on sources of income. The exact list is agreed at a preliminary consultation with the bank.
How to open an account remotely: the steps
Remote opening of a corporate account is technically available at TBC Bank, Bank of Georgia, Credo Bank and Liberty Bank. Each bank has its own mechanics. The general flow:
- A preliminary consultation with the bank: company type, field of activity, the beneficiary's country of origin.
- Preparing the substance package: lease, contracts, employment agreements.
- Filing the KYC form and beneficial ownership documents.
- Verification: a video call with a bank manager, or a visit by an authorised representative under power of attorney.
- Opening the account and issuing a corporate card.
A comparison of the banks on non-resident terms, fees and online banking is in the review of TBC, BOG and Credo for business.
Why a bank refuses, and what to do
A refusal is not a final verdict. Typical reasons and fixes:
A weak substance package. No documents on real presence. Fix: obtain at least a legal-address agreement and draft contracts with clients or suppliers.
An opaque ownership structure. A complex chain of companies across several jurisdictions with no obvious business purpose. Fix: prepare a structure chart explaining the role of each link.
High-risk activity. Crypto, financial services, certain IT services. Fix: choose a bank experienced in your sector. Credo Bank and Liberty Bank tend to be more flexible.
A refusal at one bank. Banks' compliance decisions are independent of each other. Apply to another bank, after strengthening the substance package first.
Source note
> Before applying to a bank it is worth preparing an office lease, draft contracts with counterparties and employment agreements with staff. This shows the company's real presence in the country.
Source: Legalese Georgia, corporate account service page
Frequently asked questions
Can a corporate account be opened without visiting Georgia in person?
Yes. Through an authorised representative or by video verification, depending on the bank. Some banks require the director or beneficiary to attend at one stage. Confirm the specific bank's terms in advance.
How long does opening a corporate account take?
It depends on the bank and the completeness of documents: from one week to one month. Requests for extra documents can extend the timeline.
Do I need a residence permit to open a corporate account?
A residence permit is not a mandatory requirement for the director or beneficiary of a company registered in Georgia. Having one simplifies the process. If you are considering a residence permit, see How to get a residence permit in Georgia in 2026.
Which bank is best for a non-resident?
TBC Bank is the most popular among foreign clients and offers convenient English-language online banking. Bank of Georgia is the largest by transaction volume. Credo Bank is more flexible for non-standard activities. A detailed comparison is in the review of TBC vs BOG vs Credo.
What if the bank refuses?
Apply to another bank: decisions are not coordinated between them. Before reapplying, strengthen the substance package by adding concrete documents on the company's real activity in Georgia.
How Legalese handles this
Legalese assists with remote corporate account opening: we advise on the choice of bank for your activity, help assemble the substance package and support the negotiation with the bank.
Get advice on opening an account
Key points
- Remote corporate account opening is available at TBC, BOG, Credo and Liberty.
- Since 2021 banks require proof of real presence (BEPS): lease, contracts, staff.
- A refusal at one bank is not the end: apply to another after strengthening the documents.
- A residence permit simplifies the process but is not a mandatory condition.
To match a bank to your activity, book a free consultation.