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JSC Terabank

Ordering of legal support services in bank account opening

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JSC Terabank was founded in Tbilisi in 1999 and almost immediately took its rightful place in the financial market of Georgia. Interestingly, one of the main owners of the bank is the owner of the Dhabi Group and, at the same time, the Minister of Culture of the United Arab Emirates, owning 45% of the shares. For reference, Dhabi Group is a leading business coalition in the UAE, which is engaged in several areas at once: from tourism and finance to construction and production.

The opinion of IQD Consulting specialists: if you decide to start a business in Georgia, we can recommend you opening an account with JSC Terabank.

Benefits of JSC Terabank
  • a bank is reliably protected by Arab capital invested in the country. Not every bank in Georgia can be proud of such assets.
  • A staff speaks in English, Georgian and Russian.
  • The time, allotted by bank employees to open a bank account, is from 1-2 weeks.
  • You can open a bank account with JSC Terabank both a personal and a corporate.
  • A bank can also open multicurrency accounts in such currencies as GBP, EUR, USD, GEL.
  • No requirements for the down payment or the minimum balance.
  • You will manage your account through the Internet and mobile banking.
Documents for opening an account with Terabank:
  • A company Charter (with all amendments);
  • MOA;
  • A certificate of incorporation;
  • A document on the appointment of the manager (the appointment of directors, a Power of attorney or other document);
  • Certificates of shareholders/directors/legal address; a trust declaration (if applicable).
  • Good Standing Certificate (for companies older than 6 months);
  • Certificate Incumbency (for companies older than 6 months);

* These documents must be apostilled in compliance with the Hague Convention, 1961

** Solicitor certification is suitable for English companies

Also, for account opening with TeraBank you will need documents on the beneficiary of the company:
  • an internal passport with notarized translation into English;
  • CV resume
  • recommendation from other banks;
  • documents, confirming the legal source of income of the beneficiary.
A bit about tariffs
  • A bank offers free internet banking and statements.
  • A bank commission for opening a bank account with JSC Terabank is 3,5 USD.
  • Maintaining bank account is 0,50 USD/per month.
  • Digipass is 6,5 USD.
  • Withdrawals are 0,5%.

IQD Consulting lawyers note, that if you decide to open a bank account with JSC Terabank, remember, that this bank guarantees its customers complete confidentiality of both deposits and any requests. Actually, other large banks of Georgia also protect a client.

  • 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.
  • Still have any questions?

    Fill out the form or contact us as you find convenient. Our experts will help you resolve the issue.

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