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Bank of Georgia - Georgia

General information about the bank The bank was founded in 1903 under the name Zhilsotsbank. In 1994, the bank was privatized and renamed the Bank of Georgia.

In 2001, the bank's shares began to be quoted on the Georgian Stock Exchange, in 2005 on the Vienna Stock Exchange, and in 2006 on the London Stock Exchange.

The bank's shareholders are such international financial groups as: BNP Paribas Asset Management (France), Credit Suisse Asset Management (Switzerland), Capital Research and Management Company (UK) and others.

The bank's network includes more than 250 branches, which employ more than 7000 employees. The bank also has representative offices in London, Budapest and Tel Aviv.

Limitations If the company's activities are not related to Georgia, it is necessary to ensure that there is a minimum substance (confirmation of the reality of the business): hire a local director and rent an office. We can help with this issue. The presence of counterparties from Georgia is also encouraged.

The bank is not very loyal to payments in dollars due to the pressure of dollar banks.

Pre-check procedure No. The bank, as a rule, quickly opens an account and then carefully analyzes the activities of the company.
Account types Personal, corporate, checking, savings, multi-currency.

There are two types of personal accounts: regular and Solo. Solo users have a personal banker and a more representative debit card is issued for them. At the same time, to become a Solo user, you need to have a minimum account turnover of 1500 USD or a deposit of 9000 USD.

Personal visit to the bank during opening an account Not required. The account is opened remotely.
Irreducible account balance No.
First installment No.
Limits There are limits for cash withdrawals and card payments.
Account opening period 3-4 weeks.
Required documents and information - Apostilled corporate documents of the company (usually, this is a standard set, including Certificate of Incorporation, Memorandum and Articles of Association, Minutes of First Meeting, etc). We analyze scanned copies and give recommendations on the completeness of the documents; - Documents leading to the shareholder / beneficiary (share certificate / trust declaration);

- Passport of the director and shareholder / beneficiary;

- Proof of the place of residence of the director and shareholder / beneficiary;

- A detailed description of the company's activities and supporting documents: contracts, invoices, agreements, letters of recommendation from counterparties, etc.

In the process of opening an account, it will be necessary to produce a notarized sample signature card, a notarized copy of the passport of a company representative, as well as a power of attorney to open an account. We will help you in this matter.

Service language Georgian, English, Russian.
Minimum turnover No.
Banking products Internet banking, international transfers, debit cards, loans, deposits, servicing salary projects, investment platform services, bank guarantees, direct debit.

A debit card (Visa or Mastercard) is linked to only one currency. If you need to use two or more currencies, you can order a separate card for each currency.

The debit card can be obtained the next day after visiting the bank.

Service tariffs Available here.

Read also our detailed review on opening accounts with foreign banks.

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