Can other countries (such as my country of citizenship) track my banking activity?: At the time of writing, the USA, via the FATCA agreement, is the only country in which tax authorities have access to limited information (such as annual balance) from your Georgian bank accounts.
However, as Georgia will join the CRS (Common Reporting Standard) in 2023, all countries within that network (including the EU, UK, AUS, etc.) will be able to obtain specific financial information from your Georgian bank account, and vice versa.
The countries most likely to request access to this information would be any country where you have previously had residency or citizenship. However, even countries where you have not been an official tax resident may also have reason and ability to access your financial information. Overall, this means that the Georgian Revenue Service will be more easily able to request financial information about your bank accounts in any of those countries within the CRS network.
If you need assistance with your tax, business, banking, real estate, or residency matters in Georgia, then book a free consultation with us.