In recent years Georgia has developed into a popular destination for everyone looking for an account outside the eurozone. Anyone wanting to open an account in Georgia benefits from a stable banking system, an uncomplicated multi-currency account and – with the right procedure – the option to do all of it without travelling.
Why open an account in Georgia?
Geographically and mentally, Georgia sits at the interface between Europe and Asia. The country has built a modern, well-capitalised banking system whose largest institutions – above all Bank of Georgia – are internationally recognised. Anyone wanting to open an account in Georgia is usually looking for one of three things: diversification outside the EU, a capable multi-currency account, or simply access to a banking system not subject to ECB monetary policy.
There is also a practical aspect: Georgia has positioned itself consistently as a business-friendly location. This is reflected in banking too – the processes are digital, the cards usable internationally and online banking available in English.
Requirements to open an account in Georgia
The good news first: to open an account in Georgia, you need neither a Georgian residence nor a local tax number. Essentially required are a valid passport and – for the remote procedure – an apostilled power of attorney. The bank reviews your profile as part of its due-diligence obligations, which is why a short CV and a description of the account purpose are also part of it.
| Requirement | Required? | Note |
|---|---|---|
| Valid passport | Yes | Clearly legible copy |
| Georgian residence | No | Not necessary |
| Apostilled power of attorney | Yes (remote) | Template by CMC |
| Short CV | Yes | German or English |
| Account purpose | Yes | Short, honest description |
Opening an account in Georgia – with or without travel
Classically, opening an account in Georgia means a trip to Tbilisi, a personal visit and collecting the cards yourself. The remote procedure reverses this: via a power of attorney, we handle every step on site, communicate with the bank in English and send you the cards by courier to your home. For busy entrepreneurs or those living location-independently, this is often the decisive difference.
If you are planning a trip to Tbilisi anyway, you can of course open the account on site. For everyone else, the remote option is the time-saving solution – especially because travelling to Georgia from Central Europe often involves connecting flights.
The process in five steps
- Order and submission of the passport copy
- Notarisation and apostille of the power of attorney, return to CMC
- Opening of the SOLO account on site in Tbilisi
- Courier shipping of the cards to your chosen address
- Activation of online and mobile banking
What does it cost to open an account in Georgia?
Via CMC it costs a one-off EUR 750 plus VAT to open an account in Georgia, plus EUR 120 in courier costs. This includes the personal advice and profile review, the preparation of the power of attorney, the opening of the account, the cards, the set-up of banking, and notary and bank fees within the scope of our offer. There are no ongoing costs on the part of CMC.
Do not forget tax transparency
Anyone wishing to open an account in Georgia should know: since 2024 Georgia has participated in the automatic exchange of information (CRS). For those tax-resident in the EU, this means the account must be declared cleanly. We expressly recommend transparent account management – the Georgian account offers its advantages precisely when it is run fully in compliance with the rules.
To open an account in Georgia is more straightforward in 2026 than many think – provided you prepare the documents carefully and use the remote route.
Opening an account in Georgia: why Georgia in particular?
Anyone wanting to open an account in Georgia should understand the location. Over the past decade and a half, Georgia has developed into a remarkably business-friendly country. The banking system is considered one of the most stable in the region, is supervised by the National Bank of Georgia and is highly digitalised. At the same time, the country lies outside the EU and the eurozone – which is exactly what makes it interesting for diversification.
| Aspect | Meaning for your account |
|---|---|
| Currency area | outside the euro – genuine spreading |
| Supervision | National Bank of Georgia (NBG) |
| Digitalisation | modern online and mobile banking |
| CRS | active since 2024 – transparent operation |
Opening an account in Georgia: common misconceptions
Persistent errors surround the topic of opening an account in Georgia. The first: that a Georgian account is "anonymous". That is not true – since 2024 Georgia has exchanged account data via the CRS with over 120 states. The second error: that you have to be Georgian or resident there. That too is false; the SOLO account is open to foreign private individuals. The third: that the opening is complicated and lengthy. With good preparation and opening by power of attorney, it is surprisingly straightforward.
Anyone who drops these misconceptions views the matter soberly: to open an account in Georgia means securing an additional, transparent and stable banking access outside the EU – no more, but no less.
If you want to open an account in Georgia, you declare it in your country of residence just as naturally as a domestic account. Transparency is the foundation on which a foreign account endures.
Frequently asked questions about Opening an account in Georgia
Do I need a residence in Georgia?
No. A Georgian residence is not required for an account at Bank of Georgia.
Can I open the account entirely from home?
Yes, via an apostilled power of attorney we open the account remotely for you.
Which documents do I have to provide?
Passport copy, apostilled power of attorney (template from CMC), short CV and a brief description of the account purpose.
Is a Georgian account subject to tax reporting?
Georgia has participated in the CRS since 2024. Those resident in the EU must declare their account accordingly – transparent operation is easily possible.