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A financial license in the FIZ of Georgia

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Obtaining a financial license in the FIZ of Georgia in 2020

Advantages of obtaining a license for financial services in the Kutaisi FIZ:

  • A favorable environment for investment activities;
  • Availability of tax incentives;
  • The license covers the provision of services related to cryptocurrencies, asset management and trading in the Forex market;
  • There are no requirements for an authorized capital;
  • A relatively fast licensing process.
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Registering of a commercial enterprise in the FIZ of Kutaisi provides for a transition to a special regime. Kutaisi attracts more and more investors from all over the world, and contributes to the growing attractiveness of jurisdictions for doing business in Georgia. It has a favorable tax and customs regulatory framework, and it is also relatively easy to obtain a license in Georgia.

A simplified regulation and licensing in Georgia

It is allowed to obtain a financial/banking license for financial services in the FIZ in Georgia, and to carry out commercial activities on its basis, using tax and regulatory incentives. We recommend registering a company in the free economic zone of Georgia for further obtaining a business license. A company can provide Forex (FX) services to customers outside Georgia, including access to bank accounts and merchant accounts (a credit card processing, SEPA, SWIFT, etc.). Since obtaining a Forex license in Georgia and further providing brokerage services (if they are not provided to Georgian citizens) is only a controlled, but not regulated activity, a FZ firm may carry out activities without the permission of the National Bank of Georgia.

In free zones, it is possible to obtain a Georgian financial license, that describes FX, crypto or any other financial services as permitted business objectives. A special license number, a special disclaimer can be published on the websites of providers, which allows you to gain the trust of customers and increase your reputation as a professional financial institution.

Read also:
Some characteristics, when registering a licensed company in the Free Zone of Georgia:
  • A Free Zone LLC (a business license + a financial license, which can also be issued for Forex, the money management or crypto-exchanges).
  • The regulator is the Free Zone Agency.
  • A corporate tax, a VAT, the dividend tax and a property tax are not levied.
  • Full IBAN accounts for customer finance.
  • A third party financing through bank accounts (compliance level) is very flexible.
  • The access to the payment system for third-party financing is possible.
  • Cryptocurrency transactions are allowed.
  • A nominal service is allowed.
  • B-Book brokerage operations are allowed.
  • No local office and staff required.
  • No business recommendations needed.
  • A minimum of one director is required.
  • No compliance employee required.
  • No quarterly and annual reporting.
  • No disclosure of directors.
  • It is required to provide a notarized copy of the passport with an apostille, a notarized power of attorney with an apostille. If nominal services are used, then ordinary scanned copies are sufficient without a personal visit to a notary public, without apostille or any legalization.
  • A paid capital is not required.
  • A nominee director and a nominee founder are available (10,000 euros per year).
  • The estimated time of registering a company with a license in Kutaisi is one month, including opening a bank account in Georgia.
How to obtain a Forex license in Kutaisi?

In order to apply for a financial license in Kutaisi, contact our lawyers.

  • The cost of our services is 19,900 euros (a company registration in Georgia, the bank account, obtaining a financial license in Kutaisi).
  • The annual maintenance fee (for the 2nd and subsequent years ranges from 3,500 to 3,800 euros per year).
  • We work with all local licensed banks in Georgia (TBC Bank, Bank of Georgia, Liberty Bank, etc.).
  • 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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