Personal Bank Account in Georgia

We assist you in opening your personal bank account in Georgia.

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Open a bank account in Georgia

A bank account in Georgia can be opened remotely – no need to travel to Georgia to visit the bank in person. All you need is a Power of Attorney from a local notary office sent to us by mail together with a copy of your passport, also notarized. The bank doesn’t even require a minimum initial deposit to the account. Residents of all countries (except those under sanction) may open a personal bank account in Georgia.

Benefits of a Georgian Bank Account

  • Stable Banks
    The Central Bank of Georgia has one of the most conservative regulations for commercial banks in the country. High minimum standards force banks to have a relatively low risk appetite. Almost all of the bank’s financials look great. They have much higher than minimum required tier 1 leverage ratio (single most important indicator of the bank’s financial health) and capital adequacy ratios (around 16%). Healthy bank finances is extremally important in the background of the world banking crisis of 2023.
  • Remote Service
    Very few banks today allow for a personal bank account to be opened remotely, with direct identification required almost everywhere, especially when the account is being opened by a non-resident. The regulator has allowed Georgian banks, however, to open bank accounts remotely with the use of a POA; in some rare cases, even a POA is not required.
  • Higher Interest
    After opening a bank account in Georgia, in local currency, interest rates on deposits can be as high as 11%. In USD, however, they are 4.5% and 1% in EUR. One very important thing to bear in mind is that Georgia does not offer guaranteed insurance of deposits (Actually, it does, though for only to a maximum of GEL 15,000. Yes, you read that correctly, fifteen thousand lari). But having an account in Georgia is safe as banks here are sound and the probability of default remains close to 0.
  • Investment
    A bank account in Georgia can be used to trade on local and international exchanges. The local bond market is impressive and offers almost 10% annual yield in USD. You can call it a junk bond, but the BB credit rating is good enough for this region and should be considered along with all the other positives Georgia has to offer. We can help you open a personal bank account in Georgia for investment purposes.

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PB Services Georgia