The documents needed to open a bank account for most types of companies in Georgia are:
The bank’s application form for opening the bank account;
Proof of registration with the Public Registry;
Sample signatures for all the company’s authorized persons and copies of their Passports;
For a branch, the usual document will also need to include certified copy issues by the business register in the foreign company’s country and also the excerpt from the Georgian Public Registry proving that the branch is registered in the country. The sole proprietor will also need to prove that his/her trade or business is registered and provide copies of the personal identification documents.
There are many banks in Georgia and their services and fees for these services differ. Internet and telephone banking are available as well as many other services. Usually, there is a fee for opening a bank account of approximately 10 GEL.
In 2021, the bank rules for opening a corporate bank account have become stricter, and those who want to benefit from this right must make the minimum proof that they have registered a legal entity here, as well as the proof that the company will carry its operations in Tbilisi and any other part of the country. This means that the investor will have to present a business plan and any other documents showing what the future economic activity will be and its participants (clients, business partners, company employees, and others).
This is just one of the steps required to open a company in Georgia. If you would like to know more about investing in the country you can contact our company registration and bank opening agents in Georgia.
