Corporate banking, set up via Power of Attorney.

What you get#

A Georgian corporate bank account in your company's name, opened on the ground in Georgia by our team while you stay where you are. Multi-currency by default — GEL, EUR, USD held in the same account, often with GBP and other major currencies available. Standard Georgian corporate banking infrastructure: online banking and mobile app for company directors, corporate debit cards for authorised signatories, SWIFT inbound and outbound, treasury and deposit products at the major banks.

The structure has three other clean properties:

Multi-currency operations are seamless. Receive client invoices in any major currency without forced conversion. Convert between held currencies at competitive interbank rates. Pay foreign suppliers and contractors directly in their currency without friction.

Up to 11% interest on GEL deposits and competitive USD term-deposit rates apply to corporate accounts as well. For a company with retained earnings sitting in the account, deposit returns can be material — particularly under structures like Virtual Zone or International Company where retained earnings inside Georgia are tax-efficient.

Online banking covers the operational essentials post-opening. Multi-user access for directors and accountants. Approval workflows for outgoing transfers above configurable thresholds. Statement export in formats your accounting team can import directly. Tax payment integration with the Georgian Revenue Service. Once the account is active, you operate it from anywhere via the bank's online banking and mobile app.

The combined effect: corporate banking that operates like a Western European corporate account but pays Georgian deposit rates, set up entirely on your behalf through Power of Attorney, and runs alongside the Georgian company structures we set up.

What we do#

We open the corporate account on your behalf via Power of Attorney. You sign a notarised PoA at a notary in your country and send us a passport scan plus your company documentation. The PoA gives our team in Georgia authority to represent your company at the bank — submit the application, attend meetings, sign account-opening documents, and complete activation. You don't travel.

The full setup is typically 3–5 weeks from the moment we have your documents and your company is registered. Corporate accounts take longer than personal accounts because the bank's compliance review of company structure, ownership, and intended activity is more thorough — particularly for foreign-owned LLCs.

We pair you with the right bank for your structure. Most foreign-owned Georgian companies bank at Bank of Georgia or TBC Bank, the two banks that handle roughly 80% of foreign corporate clients. Which one fits depends on your company structure (Virtual Zone, International Company, FIZ, or standard LLC), expected transaction volume, and currency mix. We make the recommendation in the consultation; we don't have a tied bank or a referral arrangement with either.

What's included#

• Eligibility and bank-pairing consultation — we assess your company profile and recommend Bank of Georgia or TBC Bank based on what fits, not on what pays us a kickback
• Power of Attorney drafting and notarisation coordination for company directors
• Document preparation for the bank's compliance file (company charter, beneficial ownership, intended activity declaration, source-of-funds for initial capital)
• Coordination with the bank's corporate onboarding team
• In-person account opening on the company's behalf via PoA — our team attends, signs, and activates
• Activation of online banking with multi-user access for directors and accountants
• Corporate debit card issuance for authorised signatories
• Briefing on operating the account: tax payment integration, statement export for accounting, treasury and deposit products

What you'll need to qualify#

Three things. We confirm all three before recommending the structure.

Your Georgian company is registered. The corporate account opens in the company's name, so the company has to exist first. If you haven't formed the Georgian entity yet, we coordinate company setup and corporate banking together — see Company Setup for the four structures we set up.

For LLC clients: a Georgian office and at least one Georgian-paid local employee. Georgian banks require this substance for new foreign-owned LLC corporate accounts. The lease can be a co-working agreement or a small office — what matters is a verifiable Georgian operational footprint. The local employee can be part-time and the role can be administrative, accounting, or operational — what matters is documented Georgian payroll. Without these, applications typically stall or are declined. We work through which configuration fits your situation in the consultation and help arrange the office and the hire as part of our service when needed.

For IE clients: the IE structure itself satisfies the substance bar. Individual Entrepreneurs don't need additional employees or office substance for corporate banking — the IE itself is the operating reality. The corporate account opens in your name as IE, alongside your personal account if you also have one.

We work through all three in the consultation and confirm the application is solid before submission.

How corporate banking interacts with your structure#

The right corporate banking setup depends on which Georgian structure you operate:

Individual Entrepreneur clients. The IE corporate account is held in your name as Individual Entrepreneur. Income from foreign clients flows in, expenses go out, the 1% Small Business Status tax is paid from the same account through the Revenue Service portal integration. Many IE clients use the personal account directly for IE income (legally permitted under Georgian law) and skip the separate IE corporate account entirely — the trade-off is operational separation versus simplicity. We brief you on which fits your situation.

LLC clients (standard, Virtual Zone, International Company, Free Industrial Zone). The LLC needs its own corporate account in the company's name. Foreign clients pay the LLC directly; the LLC pays salaries, suppliers, and Georgian taxes from the corporate account. Distributions to shareholders flow from the corporate account when declared. For Virtual Zone and International Company structures, the corporate account is where the 0% / 5% Georgian tax mechanic actually plays out operationally.

FIZ clients. Same as LLC — the zone-resident company needs its own corporate account in the company's name. Some Georgian banks have specialised teams for FIZ companies, and pairing matters more here than for non-zone LLCs. We make the right introduction in the consultation.

All three tracks delivered via Power of Attorney. Company formation at NAPR, special-status approval at the relevant ministry (Ministry of Economy for VZ, Ministry of Finance for IC, FIZ administration for FIZ), and corporate banking at BOG or TBC — every step happens with our team executing on the ground in Georgia under your PoA. You sign once at a notary in your country; we handle the rest. Most foreign clients setting up under VZ, IC, or FIZ never come to Georgia at all during the formation-and-banking phase. The exception is the small operational substance some structures require (a Georgian office for LLC corporate banking, in-person zone-specific operational steps at certain FIZ zones), which we coordinate so visits, when needed, are short and focused.

When corporate account is the right structure#

Corporate banking in Georgia fits readers who:

• Have registered (or are about to register) a Georgian Individual Entrepreneur or LLC
• Want the company to invoice clients, receive payment, pay suppliers and Georgian taxes from a Georgian corporate account
• Plan to retain earnings inside the company structure for reinvestment or efficient distribution
• Want the foundation for adding personal banking later under the same banking relationship

If your company isn't registered yet, the consultation can coordinate company setup and corporate banking in sequence. If you only need personal banking, see Personal Account — corporate banking isn't a prerequisite for personal banking, but most foreign clients running a Georgian operation want both.

Why Happy Georgia#

Independent advisory. No tied bank, no referral fees, no kickback for steering you to one bank over another. We recommend Bank of Georgia or TBC Bank based on what fits your company — structure, transaction volume, currency mix, planned operational profile.

Foreign clients only. Our entire practice is foreigners setting up in Georgia. We understand the substance documentation a Berlin SaaS founder needs to satisfy LLC corporate banking, the structure-pairing question a Tel Aviv IT firm has to answer for VZ banking, the multi-currency configuration a Singapore platform business needs for global clients.

Fixed pricing, no tourist tax. The same rate for foreign and Georgian clients. We quote in EUR, we honor the quote, no surprises later.

Trusted by clients across Western Europe, Israel, the UK, Singapore, and beyond.

Frequently asked questions#

Can the entire setup — company formation, special-status approval, and corporate banking — happen via Power of Attorney without me visiting Georgia?#

Yes, end-to-end. Power of Attorney coordinates every step: company registration with the National Agency of Public Registry, special-status application with the relevant ministry (Ministry of Economy for Virtual Zone, Ministry of Finance for International Company, FIZ administration for Free Industrial Zone), and corporate account opening with Bank of Georgia or TBC Bank. The PoA is signed once at a notary in your country and apostilled; nothing else requires your physical presence. The exceptions are small and structural, not procedural — Georgian office substance for LLC corporate banking and certain in-person zone-specific operational steps at some FIZs. Most foreign clients we set up under VZ, IC, or FIZ never visit Georgia during the formation-and-banking phase.

Which bank will my company end up at?#

Most foreign-owned Georgian companies land at Bank of Georgia or TBC Bank, the two banks that serve roughly 80% of foreign corporate clients. The right pairing depends on your structure (LLC vs IE vs Virtual Zone vs International Company vs FIZ), expected transaction volume, and currency mix. We make the recommendation in the consultation based on what fits, not on what pays us a kickback.

How long does the corporate account setup take?#

Typically 3–5 weeks from the moment we have your documents and your company is registered. PoA preparation and notarisation in your country usually takes the first week; bank application and account activation usually take the remaining two to four weeks. Compliance review for foreign-owned LLCs takes longer than for IEs.

What's the Georgian office and local employee requirement actually about?#

For foreign-owned LLC corporate accounts, Georgian banks require evidence that the company has real Georgian operational substance — a lease agreement (full office or co-working) and at least one Georgian-paid local employee on payroll. This isn't a Happy Georgia rule; it's how Georgian retail banks have evolved their compliance posture for foreign-owned LLCs. The threshold is workable: the office can be modest, the employee can be part-time. We help arrange the office and the hire as part of our setup service when you need that, working through configurations that satisfy the bar without overbuilding.

What documentation do I need?#

Company charter (we provide if we set up the company), proof of beneficial ownership for all individuals holding 25%+ of the company, intended activity declaration, source-of-funds documentation for initial capital, and director KYC (passport and address proof for each director). For LLC clients, the lease agreement and employee payroll documentation. We tell you exactly what the bank you're paired with will accept before you start collecting.

Can the corporate account hold multiple currencies?#

Yes. Standard configuration includes GEL, EUR, USD; most major currencies are available on request. Foreign-currency invoices arrive in their native currency without forced conversion. The company can hold balances in any currency long-term and convert between them at interbank rates when needed.

What deposit rates apply to corporate balances?#

Corporate accounts can place term deposits at the same rates as personal accounts — up to 11% on GEL term deposits, up to 4.5% on USD, lower on EUR. For a company with retained earnings (particularly under Virtual Zone or International Company where retained earnings are tax-efficient), deposit returns can be material. We brief you on current rates at the bank you're paired with as part of the consultation.

Can I add personal banking under the same relationship?#

Yes. Most foreign clients running a Georgian company also want personal banking — the personal account handles personal income, savings, and lifestyle expenses while the corporate account handles company operations. Both can sit at the same bank under one client relationship, which simplifies online banking access and reduces friction. See Personal Account.

Can corporate accounts be revoked or closed?#

Georgian banks can close corporate accounts if compliance posture changes — substantial change in transaction patterns that doesn't match the original profile, AML/CFT concerns, deterioration of company substance below the bank's threshold, or change in the bank's risk appetite for the company's sector. We brief you on the operational discipline that keeps the account stable: maintaining substance, keeping compliance documentation current, handling major transaction-pattern changes through proactive communication with the bank.

Ready to set up?#

We assess your situation in a free consultation, recommend the bank that fits your company structure, prepare your file, and quote a fixed price. The corporate account opens via Power of Attorney while you stay in your country. If something else fits better — personal banking only, brokerage-only setup, a different jurisdiction's banking entirely — we tell you.