Is not it risky to have a bank account in Georgia?What is the exchange of information (CRS)?How do I verify where I live?

Is not it risky to have a bank account in Georgia?
Georgia is a promising Western-leaning country with a high degree of legal security. Since the Rose Revolution of 2004, Georgia has developed a good constitutional state with a low level of corruption, especially when compared to other countries in the region. Its political system is stable and its economy is at its peak. That is why we believe it is safe to open an account in one of the leading and most solvent banks in the country.

What is the exchange of information (CRS)?
The exchange of information (CRS) is just one of the different tools that States use to end banking secrecy. Although Georgia has signed the CRS agreement, it does not currently follow the proceedings. Since it is currently not necessary to verify your residence at the time of account opening, it is also not possible to inform anyone about the domicile of the bank’s customers.

How do I verify where I live?
Georgia has signed the CRS, however, it does not automatically exchange information, so, as you can see, at the opening of the bank account you will not be asked where you reside and no consumer bill will be required to prove where you reside. You will only be asked for one address to send correspondence to (credit card and PIN).


Why would I want a foreign account?
The first thing you should know is that having a bank account is not illegal. Of course, you should not use this account to hide undeclared money, as this would be illegal and could lead to severe fines.
However, it does make sense to diversify and keep some of your savings in a secure foreign account, in different currencies.
In this way, you will have additional security against expropriation and foreclosure attempts due to crises in your country or throughout the European Union.
This account in Georgia offers you banking services at the level and with the advantages of a Swiss private bank account but at a lower cost than you probably have in your current bank.


You pay only after the bankc account is opened!

Contact us right now to find out more.We can help you to open private bank accounts in Georgia.



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