How a Foreigner Can Open a Bank Account in Georgia

Why open a Georgian bank account? 🇬🇪

A local bank account simplifies everyday life, property transactions and investment management in Georgia. It makes receiving rental income, paying contractors, and transferring funds easier and often cheaper than using foreign banks.

Types of accounts to consider ⭐️

• Current account — for daily operations and payments.
• Savings account — for storing funds with potential interest.
• Multi-currency account — convenient for keeping GEL, USD and EUR.
• Corporate account — useful if you buy property via a company or manage rental business.

Choose a bank that offers a solid mobile app, multilingual support, and convenient branch coverage where you plan to live or invest.

Common documents and KYC 📑

Banks in Georgia perform standard Know Your Customer checks. Typical requests include:

• Passport;
• Proof of address (home country or local): rental agreement, utility bill, or landlord statement;
• Contact details and purpose of the account (personal, investment, property purchase);
• Occasionally, proof of income or source of funds for larger transactions.

Some banks allow basic account opening with a passport, while additional services require more documentation.

How the process works — options 🛠️

1. Choose a bank: compare fees, language support, and branch presence.
2. In-person opening: bring originals and copies; helpful for faster verification.
3. Remote opening: available at some banks via video ID and digital documents.
4. Through a representative or company: use a notarised power of attorney or corporate structure for remote investors.

Always contact the bank in advance to confirm exact requirements and available languages for customer support.

Cards, online banking and transfers 💳

• Debit cards are usually available in local and international currencies and support online purchases.
• Internet and mobile banking are essential for managing accounts from abroad.
• SWIFT and local transfers are supported; check fees and conversion rates.

Test the bank’s app and check transfer limits before making large property payments.

Taxes and transparency ⚖️

Opening an account does not automatically change your tax residency. Tax obligations depend on your residency and income sources. If you earn rental income in Georgia, you should check local tax rules.

For significant investments or property purchases, consult a tax advisor about structuring transactions — personally or through a company.

Practical tips for property buyers 🏠

• Pay deposits and purchase funds through the bank for clear records.
• Verify that the seller’s account details match the purchase agreement.
• Consider a bank that offers mortgage products if you plan to borrow.
• If you manage multiple properties, a corporate account may simplify bookkeeping.

Common pitfalls to avoid ❗️

• Incomplete documentation: confirm required documents and translate if needed.
• Ignoring transfer and conversion fees — factor them into your budget.
• Choosing a bank without branches near your property — this can complicate in-person needs.

How BuyHome can help 🤝

We advise buyers and investors on banks that work well with foreigners, help prepare documents, and can introduce you to reliable banking partners. Start your property search at https://buyhome.ge/en or contact us for bespoke assistance.

If you'd like, we can coordinate with banks, prepare paperwork and support the payment process so the purchase goes smoothly. Contact us and we’ll help you choose the right banking solution for your plans.