Opening a bank account in Georgia without living there: key rules

A Georgian banking sector dominated by two groups

A bank account in Georgia can be opened by a non-resident, often with just a passport at a branch, in a sector supervised by the National Bank of Georgia. Accounts exist in lari, dollars and euros under stricter KYC checks, and each bank sets its own. TBC Bank and Bank of Georgia hold most of the country's assets and deposits.

Two banks, TBC Bank and Bank of Georgia, hold most of the country's assets and deposits, ahead of a dozen smaller lenders such as ProCredit, Liberty and Basisbank. Their branches are concentrated in Tbilisi, Batumi and Kutaisi.

The National Bank of Georgia: regulator and central bank

The National Bank of Georgia licenses and supervises commercial banks, runs monetary policy and operates the interbank payment system. It also sets de-dollarisation rules, such as requiring small loans to individuals to be granted in lari.

A floating lari and a strong dollar presence

The lari floats freely and there are no exchange controls on international transfers. A large share of deposits is nevertheless held in dollars or euros, and banks routinely open a multi-currency account from the start.

Opening with a passport: a practice that has become stricter

Citizens of many countries, including France, can stay in Georgia visa-free for up to a year, and banks traditionally opened accounts on a passport alone. Since the 2022 influx of newcomers, questions on source of funds and activity have become far more detailed.

Steps for opening at a branch in Tbilisi

For a multi-currency account in Tbilisi, the client brings a passport, completes a know-your-customer questionnaire and declares tax residence. Depending on the profile, the bank asks for proof of income or activity, then activates the account and card, sometimes the same day.

Sanctions screening and sensitive nationalities

Georgian banks apply the international sanctions lists they consider relevant, given their dollar and euro correspondent banks. Clients linked to sanctioned countries or sectors face additional checks, requests for documents or an outright refusal.

Deposit guarantee raised to 50,000 lari in 2026

The Deposit Insurance Agency reimburses depositors up to 50,000 lari per bank since 1 April 2026, up from 30,000 lari. This ceiling, modest by European standards, encourages spreading larger balances across banks.

CRS in force since 2024 and reporting at home

Georgia has joined CRS automatic exchange, with 2023 as the first reporting year and a first transmission in September 2024. A French tax resident declares the Georgian account on form 3916 and reports any interest received.

Fees, deposit rates and international transfers

Account fees are low, and lari deposits pay markedly higher rates than dollar or euro deposits, in return for currency risk. Outgoing SWIFT transfers are charged according to the currency and the amount sent.

Preparing your visit to a Georgian bank

At Bank of Georgia, non-residents can generally open an account at a branch with a passport, subject to compliance checks. Bringing proof of activity and an explanation of the intended use avoids repeat visits.

Bank account in Georgia: steps to open as a non-resident

To open a bank account in Georgia without living there, start by choosing a bank and checking its conditions with a branch in Tbilisi, Batumi or Kutaisi. The two big groups, TBC Bank and Bank of Georgia, hold most of the market, but smaller institutions may also welcome foreigners. Compare their requirements before travelling, because they differ from one branch to another.

On the day of the appointment, present your passport, complete the know-your-customer questionnaire and declare your tax residence. Explain the intended use of the account: receiving income, saving, paying local expenses or transfers abroad. The adviser checks the consistency between your answers and your documents, then decides whether the account can be opened, sometimes the same day, sometimes after a verification period.

After opening, activate the mobile app and check which currencies are available. A bank in Georgia generally offers accounts in lari, dollars and euros, which allows you to receive transfers in the original currency. Keep a copy of the account agreement and the fee schedule you are given, because they serve as a reference if fees or conditions change later.

Documents requested for a Georgian bank account

Since the influx of newcomers in 2022, institutions ask far more detailed questions about the origin of funds and the client's activity. Prepare supporting documents suited to your profile: an employment contract or invoices for a freelancer, a pension statement for a retiree, company documents for an entrepreneur. The clearer these papers are, the shorter and simpler the interview. This avoids surprises at the counter.

Also plan a written explanation of the intended use of the account. A few lines are enough: the countries your income comes from, approximate amounts, frequency of transfers and planned local spending. A consistent file avoids repeat visits to the counter. If you have links with a country or sector subject to international sanctions, expect additional checks, or even a refusal without a lengthy justification.

Finally, keep your identity documents and supporting papers up to date. The bank may ask for documents again at a periodic review or if a transfer is out of the ordinary. A Georgian bank account whose holder answers quickly and consistently more easily keeps its relationship with the institution, whereas prolonged silence can lead to temporary restrictions. Regular answers reassure the bank.

Common mistakes with a bank account in Georgia

The first mistake is to believe that a passport is always enough. Opening on a passport alone still exists, but it has become more demanding, and the bank may ask for further evidence depending on your nationality, your activity or the amount expected. Turning up with no document on the origin of funds is the surest way to lose half a day. Check these points before you leave.

The second mistake is to concentrate all savings in one institution. Deposit insurance reimburses up to 50,000 lari per bank, a modest ceiling by European standards. Spreading large balances across several banks reduces the risk, provided you follow the fees and the supporting documents requested by each of them. This applies mostly to larger sums, and the exact rules depend on the bank you choose in Georgia.

The third mistake is to forget the declaration in your country of residence. Georgia sends information under CRS, and a French tax resident declares the Georgian account on form 3916 together with the interest received. Never count on the absence of checks: it is better to declare correctly from the first year of opening. It is a simple rule of caution.

Using the account and staying compliant

Once the account is open, watch fees and exchange rates. Account fees are low, but outgoing SWIFT transfers are charged according to the currency and the amount, and conversion between lari and foreign currencies uses the bank's rate. Compare this rate with the market rate to assess the real cost of each operation. Keep the price lists received. Do this each quarter.

Lari term deposits pay markedly higher rates than dollar or euro deposits, but they expose you to currency risk if your future spending is elsewhere. Choose the currency according to the intended use of the funds, and keep part in the currency of your expenses. As the lari floats, its value can vary. Currency choice matters here. Review the choice yearly.

Lastly, keep annual statements, agreements and exchanges with the bank. They help prepare your declarations and answer requests for supporting documents. If you are unsure about your tax situation or the use of a foreign account, consult a tax adviser who knows both the rules of your country of residence and those of Georgia. A bank account in Georgia is easier to manage with good records.