Business Account with the Bank of Georgia

Explore the advantages of opening a corporate account in Georgia, a rising choice for foreign entrepreneurs seeking banking confidentiality and premium services.

Foreign entrepreneurs find Georgia increasingly attractive for opening a corporate account thanks to its laws on banking secrecy and an extensive list of top-quality banking services. Are you looking for a good banking destination? Take advantage of all the benefits offered by Georgia and set up a corporate account with the Bank of Georgia (personal presence required!). Local banks do not exchange information about their customers for tax purposes, so you can count on a high level of confidentiality. The country has a good reputation, and no money scandals have been mentioned. In short, here is a great financial jurisdiction to enjoy!

If you want to know more about the country, we will be glad to see you on our portal, where you will be able to read a more detailed article on corporate account setup in Georgia. We also write about banking in different popular destinations, international business, tax optimization, asset protection, residence- and citizenship-by-investment programs, and so on. You can schedule a free meeting with our consultant to discuss your needs and find the best solution to your situation. We will be happy to open an account and set up a company for you. Contact us to avoid all administrative hassle and errors that result in rejections!

Why Choose the Bank of Georgia?

This is the country’s top bank where you can use a wide range of services in addition to just account opening, such as professional asset management, insurance, and professional brokerage services. This is the best financial institution in Georgia in all respects: it has almost 80% of the local banking market along with TBC Bank. A third of Georgia’s corporate loans and corporate deposits are serviced by this large bank. Most major local and international organizations opt for the Bank of Georgia.

The bank has been recognized many times as the country’s most stable and reliable institution that provides the best services.

Bank of Georgia: Benefits

Non-residents who open a corporate account with the Bank of Georgia have excellent prospects for quick settlements with international partners, with confidentiality levels being high. Let’s look at the main advantages of the bank for foreign customers:

1. Quick international payments
2. Absence of currency control
3. Advanced instruments to control your account online
4. Low maintenance fees
5. A high level of confidentiality as Georgia is not a party to CRS agreements
6. An extensive range of services

Sounds interesting? Get in touch with us to discuss the details.

Services for Corporate Customers

The Bank of Georgia offers a full range of services to cater to the needs of each corporate customer. The institution boasts professional, highly skilled managers who will give you advice and provide assistance in choosing the banking products you need.

You will:

1. Cooperate with a team of corporate banking specialists who have expertise in specific economic sectors and areas
2. Enjoy professional service and an individual approach
3. Take advantage of innovative banking products and services on competitive terms and conditions
4. Benefit from the fact that the Bank of Georgia has a large number of correspondent banks across the world
5. Have an opportunity to use a lot of terminals, ATMs, and offices in Georgia
6. Enjoy a high level of customer data confidentiality
7. Take advantage of high interest rates on deposits in lari.
8. Receive customer service in English

Opening a Corporate Account

First of all, pay attention to the following details: if the beneficiary of the Georgian company is not a resident of Georgia, opening a corporate account will be impossible. Anyway, get in touch with us to check whether this information is still relevant. There is a way out, of course: we can either help you become a resident of Georgia or propose other banks and payment systems across the world that will be happy to work with non-residents and open corporate accounts for them. What is more, most of these options are possible on a remote basis!

You will be able to access your corporate account using a wide range of banking instruments that will save you time and allow you to manage your corporate funds at any time, wherever you are.

As for the remote banking services, you can benefit from:

1. SMS banking
2. Mobile banking
3. Phone banking
4. Internet banking
5. Standing orders
6. Automated payments

Loans Granted by the Bank of Georgia

Need a loan to expand your business? This is need No. 1 for different businesses, of course, and the Bank of Georgia offers six loan products for various classes of entrepreneurs:

1. Made in Georgia
2. Agricultural loans
3. Microloans
4. Overdraft
5. Women’s Start-Up
6. Business loans

These programs will help you obtain money for the following purposes:

1. Current business expenses
2. Purchasing real estate
3. Repayment of debts/liabilities
4. Repair works/refurbishment
5. Purchasing fixed assets/working capital

You can combine two opportunities as well.

As for the forms of lending, you can get loans, overdrafts, and renewable/non-renewable credit lines.

After obtaining a loan, you will be able to choose a convenient repayment schedule for you:

1. A renewable line of credit that will allow you to finance working capital
2. A fixed schedule with monthly payments
3. Grace period for interest payment and/or the basic amount for businesses with seasonal revenues

International Trade

When it comes to financial operations and servicing trade, the Bank of Georgia is an indisputable leader. Being a member of many international institutions (including EBRD), it has a unique opportunity to propose its customers customized trading solutions across the globe.

Trade Financing

Here are the documentary transactions available to the bank customers:

1. Export/post-export financing
2. Factoring
3. Letters of Credit
4. Local/international bank guarantees
5. Financing long-term/medium-term imports
6. Documentary collection

Treasury Operations

Let’s look at the cash transactions and other banking products that the Bank of Georgia offers its clients:

1. Purchase and sale of securities. The bank can purchase government securities at the first auction for you and support transactions related to the transfer of securities as collateral, their sale, and/or purchase on the secondary market.
2. Exchange of more than 30 currencies at reasonable rates.
3. Exchange of foreign exchange resources.
4. Hedging via currency options/forwards.

Need more information about the Bank of Georgia? Please click on the above link to read more or get in touch with our expert straight away!