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Bank of Georgia

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If you are planning to open an account in Georgia remotely, then consider the opportunity to set up a corporate account in Bank of Georgia, which is one of the leading financial institutions of the jurisdiction. This is a first private financial institution that has ever had the status of a state bank.

Opening an account for a company in Bank of Georgia will be a favorable option because the bank operates internationally – most of its shares are owned by UK investors and the bank occupies more than a third of the Georgian financial market.

The bank's shareholders are Management LLC Firebird, Franklin Templeton Investments, the International Monetary Fund (IFC) and the European Bank for Reconstruction and Development (EBRD).

The presence of high quality services of the bank, which is one of the most reliable and located in a country with developed legislation, encourages the beneficiaries to open an account in Bank of Georgia. Thus, the leading financial institution was recognized by the prestigious journal "The Banker" as the best in Central and Eastern Europe.

About the Bank

If you are interested in opening an account in Bank of Georgia, then we recommend you to take a closer look at the key advantages of this institution:

  • It was founded in 1903 and licensed in Georgia;
  • The bank provides a wide range of retail banking services, corporate banking services, such as setting up an account for a company in Bank of Georgia, and investment management services;
  • The banking services for companies include such areas as construction, logistics, retail and wholesale, international organizations, electricity, TV/media, pharmaceuticals, consumer goods, and hotels;
  • It has over 2 million bank accounts, including corporate ones, and 275 branches with 820 ATMs, thereby proving that it has the largest distribution network;
  • The bank has a fully operational remote banking service platform and a modern call center. Through the advanced technology, opening a corporate account in Bank of Georgia facilitates corporate tasks;
  • You can set up a multicurrency corporate account in Bank of Georgia in GBP, USD, GEL and EUR. In other words, you can have one corporate account with many currencies and deal with each currency separately;
  • The bank provides an Internet banking and SMS banking.

The Bank of Georgia approaches the issues of each corporate client individually, having a staff of professional specialists with extensive experience in business areas. Setting up an account in Bank of Georgia gives the beneficiary the opportunity to receive not only professional answers to any questions, but also advices which will benefit during the growth and development of the company.

You can open an account in Georgia for private clients and legal entities.

  • Maintenance of the account: from 2 to 3.9 GEL (1 GEL – 0.39 USD) per month;
  • Outgoing payments – 0.2%, min 10 USD, max 500 USD.
  • Correspondent banks may charge an additional fee.
Preparation of the documents

If you would like to set up an account in Bank of Georgia, then you should prepare the following documents:

  • Trust Deed;
  • Company Certificate;
  • Memorandum and Articles of Association;
  • Certificate of a Good Standing, if the company operates more than 1 year;
  • A letter of recommendation from the bank in which the account was previously opened.
Important to note
  • All the documents must be translated into the official language of Georgia (or into English) and certified by a notary;
  • The price of opening an account with personal visit – 1390 EUR. If you want to open an account remotely, the price will be 1990 EUR;
  • Setting up an account will take about 3-4 days.

To open a corporate account in Bank of Georgia, please contact IQ Decision lawyers for a free consultation!

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The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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