Offshore Account in Georgia
Open an offshore account in Georgia and earn high returns in Georgian Lari.
Your Offshore Account in Georgia With Premium Cards
Offshore Account in Georgia
Settee provides you with access to secure and modern banking and brokerage solutions in Georgia.
Banking and brokerage services can be used together or separately.
Our expertise and partnerships in both areas give you the opportunity to protect, grow, and invest your wealth globally.
The Bank Account
The banks in question are TBC Concept and Bank of Georgia (Solo Club), which give you the freedom to open a bank account with an IBAN without being tied to the EU. As a stable and modern financial hub, Georgia offers protection against government surveillance and expropriation.
With this exclusive solution, you can manage your assets securely and benefit from the positive attitude of Georgian banks toward cryptocurrencies. Deposits and withdrawals from crypto exchanges are generally straightforward.
The ability to negotiate individual interest rates for larger deposits makes Georgia an unbeatable option for protecting and growing your wealth.
A flexible and powerful account option for any internationally-minded individual.
- Simplified account management
- Multiple currency options
- Low transfer fees
- Tax-free brokerage
- Unrestricted access to global markets
- Premium cards such as Visa Platinum and Mastercard World Elite
- Airport lounge access with LoungeKey
Advantages of a Georgia Account
Low transfer costs
Transfer fees are low, at 0.2% for all international transfers at TBC.
No proof of address required
Provide a mailing address of your choice to receive your new credit card. No proof of address is required.
Protection against state surveillance
Your financial affairs remain private and secure.
Multiple currency options
Manage your account in multiple currencies, including USD, EUR, GEL/Lari, GBP, and others.
Simple account opening
The process only requires submitting the necessary documents, with no complicated bureaucratic hurdles.
Professional contacts
You have a direct contact person at TBC or BoG who can be reached at any time, for example, via WhatsApp.
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Premium cards
You can obtain a Visa Platinum, Amex Platinum, or MasterCard World Elite card
Airport lounges
You are entitled to 8 free airport lounge visits with a SOLO account.
Low-cost maintenance
You pay 500 GEL (180 EUR) at TBC and 800 GEL at Solo (270 EUR) per year in account maintenance fees.
IBAN number
Account with IBAN, but no SEPA support
Remote Account Opening
The account opening process is done entirely remotely.
Great interest rates
Exact interest rates can be confirmed with the bank. For larger deposits, interest rates are negotiable.
Open Your Account in 9 Simple Steps
- Payment: Complete the service payment.
- Submit documents: Upload copies of your passport.
- Authentication: Have your power of attorney and valid passport notarized at a notary office of your choice.
- Apostille: Request an Apostille for both documents.
- Document verification: Send us scanned copies of your documents for review.
- Send your documents: Once approved, send your documents to Georgia.
- Translation and notarization: Our experts in Georgia translate and certify your documents.
- Account opening: An authorized representative opens your requested bank or brokerage account.
- Receiving account and card details: Your account information and cards will be sent to you by the bank.
Open your Georgia account today
Simple. Transparent. No surprises.
Is opening a bank account in Georgia right for me?
We Recommend Bank Accounts in Georgia For:
- People looking for multi-currency options: It allows for a wider variety of currencies, such as USD, EUR, GEL/Lari, GBP, and others, in addition to a simple opening process.
- Clients interested in having a European IBAN: Georgia offers the possibility of obtaining an IBAN, which facilitates international transactions.
- Clients who want to open accounts without proof of residence or income: It facilitates account opening without the need to provide extensive documentation.
- Those seeking cost-effective banking services: Bank fees and maintenance costs are low compared to many other jurisdictions.
We Do Not Recommend Bank Accounts in Georgia For:
- Clients interested in maintaining financial ties with the European Union and having SEPA support: Although Georgia offers a European IBAN, it is not fully integrated into the SEPA system, which can be a limitation for those who frequently transact with the EU.
- Clients looking to deposit large sums into a bank account: Georgia is located next to Russia in a historically unstable region. While the account is excellent, it is not an appropriate jurisdiction for holding deposits exceeding 6 figures. Accounts in the US or Switzerland would be more suitable.
We Recommend Brokerage Services in Georgia For:
- Those who want access to the regional market: Georgia is a strategic gateway for investors looking to explore markets in the Caucasus and Asia.
- Clients who want to diversify their investments with lower costs: Georgia has lower operating costs compared to countries in Europe or North America.
- Investors seeking fiscal freedom: Georgia has an attractive tax system with no capital gains tax.
- Those seeking a country with access to hard currency: Although the Georgian financial system is small, it provides access to hard currency for those looking to protect their capital in US dollars and euros.
We Do Not Recommend Brokerage Services in Georgia For:
- Clients who require SEPA and European IBAN support: Brokerages in Georgia generally do not support the SEPA system or European IBANs, which limits financial integration with the European Union.
- Clients looking to deposit large sums with a brokerage: Georgia is located next to Russia in a historically unstable region. While the account is excellent, it is not an appropriate jurisdiction for holding deposits exceeding 6 figures. Accounts in the US or Switzerland would be more suitable.
Frequently Asked Questions (FAQ)
- Low debt-to-GDP ratio (49.5% debt/GDP, compared to 128% in the US and 93% in Brazil).
- Bank accounts with access to US Dollars, Euros, Georgian Lari, and Russian Rubles.
- Ranked 35th in the Index of Economic Freedom (Brazil is 133rd).
- Country with a history of pro-market reforms and low taxes.
- Rapidly expanding market with high interest rates (+10%) for the local currency.
- Financial and nomad hub in the Caucasus.
- High level of English in the financial industry. Banks have websites and apps in English.
You will not be able to open accounts in Georgia if you are not a resident or present in the country.
Settee offers:
- Completely remote bank account opening
- Stress-free opening process; our representatives in Georgia handle the entire application for you.
- Contacts in Georgia to assist you with all your needs: company formation, real estate investment, and more.
- Guaranteed opening or your money back
The bank does not require proof of tax residency to open an account. Only a copy of your passport and a power of attorney for remote opening are needed.
This will depend on where you are a tax resident. In short:
- If you live in a country that has a remittance-based tax system (such as Malta, the UK, Ireland, Mauritius, Thailand, Japan, or Korea under the non-dom system), then a foreign bank account can help you pay less tax.
- If you live in a territorial tax country (such as Paraguay, Georgia, Uruguay, or Malaysia), then a foreign bank account can help you pay less tax.
- If you live in a country with worldwide income taxation (such as Brazil), then generally you will not pay less tax with a foreign bank account. There may be exceptions under special programs, such as Portugal's NHR.
Georgia participates in the following international information exchange mechanisms:
- FATCA: Exchange of information with the US regarding accounts belonging to American citizens and companies.
- CRS: Multilateral exchange of information with dozens of countries. Full list on the OECD website.
- DTTs: Georgia has signed double taxation treaties with Armenia, Austria, Azerbaijan, Bahrain, Belarus, Belgium, Bulgaria, China (People's Republic of), Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, India, Iran, Ireland, Israel, Italy, Japan, Kazakhstan, Korea, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Netherlands, Norway, Poland, Portugal, Qatar, Romania, San Marino, Saudi Arabia, Serbia, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, and Uzbekistan.
If your country of tax residency reported during account opening is on one of these lists, then yes. Otherwise, no.
Since Brazil is part of the CRS, if you report Brazil as your tax residency, there will indeed be an exchange of information for personal accounts.
No bank is perfect, after all. Some downsides of this account include:
- Does not offer direct crypto deposits like the Panama Account
- Higher fees compared to fintechs or crypto platforms
- Georgia exchanges tax information through CRS and FATCA.
- Opening the account takes some time, as documents must be sent by mail.
Payment can be made via international wire transfer in USD or with cryptocurrencies: BTC, ETH, USDC, or USDT. To do this, contact us.
We also accept card payments on the page above or PayPal with an additional 5% fee.
We can issue an invoice for the service. Please send us your desired billing address.
Yes, if you have specific questions about offshore accounts or about residency and business in Georgia, we would be happy to help. Please also read the fact sheet and our articles above, where many other questions are answered. If you have further questions, you can of course also book a consultation with our team.
If you would like to obtain residency or open a company in Georgia, we also have trusted lawyers who can assist you with the process. To do so, simply get in touch.
You will be referred to our partner who handles incorporations in Georgia. They will guide you through the entire process.