Cryptocurrency in Georgia: With relaxed laws and 0% tax on income from trading cryptocurrency, Georgia (the country) is an ideal place to get legal residency and tax residency so that you can easily liquidate your Bitcoin or other crypto into fiat money (i.e., cash and direct to your bank account).
With straight forward services which will help you exchange your crypto in Georgia, in some instances directly into a commercial bank, the options to legally get your money out of crypto, tax free, are worth jumping on immediately.
The law could change at any time, so it’s best to take action as soon as possible.
For both residents and non-residents, there are also options to directly purchase real estate using crypto in Georgia.
In this article, we cover the legal and tax implications for cryptocurrency in Georgia, as well as how to exchange it to USD or GEL and qualify for 0% tax on those gains.
Legality Of Cryptocurrency In Georgia
This section deals with the primary legal considerations for crypto activity in Georgia.
Is It Legal To Hold And Trade Crypto In Georgia?
Owning crypto is legal. Trading is also legal, and tax rates on gains for individual traders are 0% in many cases, barring specific exceptions. More info is below.
Georgia is a center for crypto mining, due to cheap and available hydroelectric power and a lack of government regulation.
So, all in all, it’s a pretty favorable country for crypto right now.