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To obtain a license for E-money in Georgia

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Obtaining a license for E-money in Georgia

Benefits of obtaining a license in this jurisdiction:

  • Georgia is an attractive jurisdiction for conducting international business;
  • E-money license is issued by the National Bank of Georgia, thereby increasing its regulatory basis;
  • No management residency requirements;
  • A license for E-money in Georgia is in great demand among entrepreneurs;
  • A fast process of acquiring a license.

A term for obtaining a license is from 1 month

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Georgia is a country, known as a tourist country. However, for entrepreneurs in Georgia there are favorable conditions for the implementation of interethnic business activities. Georgia is also becoming attractive in obtaining payment licenses. Companies, involved in electronic money in Georgia, are regulated by the relevant law, issued so that entrepreneurs can obtain a license for E-money in Georgia. The Law on the “Payment System and Payment Services” was issued in 2012.

Obtaining an EMI license in Georgia is necessary for enterprises wishing to implement:
  • Operations related to transfers and write-offs of funds;
  • The transfer of funds to the beneficiary's account, and everything offered, related to this option;
  • Payments, related to direct debit, using any digital resources or debit cards;
  • The production of payment instruments;
  • Financial transactions;
  • The issue of electronic money;
  • Financial transactions related to electronic money, using a mobile device, the Internet or any electronic devices.

First of all, we will help you to register a company in Georgia in order to obtain a payment license in Georgia. After all, this license is issued to local companies.

The EMI payment license in Georgia does not have stricter requirements for the residency of directors or staff. The set of documents also includes a certificate of good conduct. With our help, you will be able to register a legal address in Georgia in order to obtain an EMI license in Georgia.

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Our competent lawyers will help you to acquire an EMI license in Georgia for a period of 1 month. If we compare with other licenses, the limit for obtaining an EMI license in Georgia is considered one of the fastest.

The annual reporting, the annual audit and a tax reporting are mandatory conditions in order to obtain a PSP license in Georgia. Enterprises, that have received an EMI license in Georgia without a fail inform of the reorganization, liquidation, temporary suspension of their business and innovations directly related to any changes.

Additional verification is necessary, when your company plans to provide the services of an electronic money provider not only in Georgia, but to enter the international level. Local regulators issue appropriate permissions or licenses. The specialists of our company will explain to you the procedure for obtaining payment licenses in Georgia.

We can provide a legal support, if you decide to open an account with a Georgian bank. Despite the fact, that Georgia owns a small amount of commercial banks, it is still famous for its strength in the banking sector.

IQD Consulting lawyers have experience in obtaining financial licenses not only in Georgia, but in other jurisdictions. Turning to us you will receive advice and will be able to obtain an EMI license in Georgia for a local registered company.

  • 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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