How to Open a Bank Account in Georgia: A Step-by-Step Guide

Georgia attracts foreigners not only with tourist beauty, but also with favorable conditions for business and investment. Opening a bank account in Georgia is an important step for those planning a long stay in the country, doing business, or simply wishing to use convenient financial services. In this article, we explain how to open an account in a Georgian bank in 2026, taking into account current banking requirements and restrictions.

Table of contents:

• Types of bank accounts in Georgia
• Preparation before visiting a bank
• Best Georgian banks for foreigners
  • Credo Bank (most loyal for foreigners)
  • Bank of Georgia
  • TBC Bank
  • Liberty Bank
• Step-by-step account opening process
• Important nuances and possible complications

Types of bank accounts in Georgia

Before opening a bank account in Georgia, it is useful to understand what specific accounts local banks offer and for what purposes they are suitable. Here are the main types of accounts available to both residents and foreigners.

Current account

This is the most versatile and in-demand option. A current account in Georgia allows you to send and receive transfers, pay for purchases, utility bills, taxes, and use internet banking. Such an account is often opened for daily financial transactions, receiving salary, or freelance income. A debit or credit card can be linked to a current account.

Deposit account

If you want not only to store money, but also to earn income, consider a deposit account. This is a classic deposit: you place funds for a specific period and receive interest. In Georgia, both term deposits (for 3, 6, 12 months or more) and open-ended deposits with top-up and partial withdrawal options are available. Interest rates depend on the currency and the bank, and a deposit account can be opened in GEL, US dollars, euros, or another currency. Approximate rates in GEL can reach 8–10%, and in dollars/euros 2–4% per annum, but they vary depending on the market and deposit term.

Card account

A card account is opened to obtain and use a bank card: debit or credit. This is convenient for paying in stores, online shopping, and withdrawing cash from ATMs throughout the country and abroad. A card account is often combined with a current account, but a separate card-only account can also be opened.

Multicurrency accounts

For those who travel frequently or work with different currencies, Georgian banks offer multicurrency accounts. This allows you to store money simultaneously in GEL, dollars, euros, and other currencies, transfer funds between them at the bank's internal exchange rate, and save on conversion. A multicurrency account is especially convenient for businesses, freelancers, and investors.

Photo: pikisuperstar / Freepik

Preparation before visiting a bank

1. Obtaining a Georgian phone number.

Practically all Georgian banks require a local phone number for registration in the system, receiving SMS notifications, and accessing internet banking. You can easily buy a SIM card at a mobile provider store (for example, Magti, Geocell, Silknet) immediately upon arrival.

💰 The cost of a SIM card usually does not exceed 5–10 GEL.

2. Gathering required documents.

Thorough document preparation is the key to successful and quick account opening. Banks in Georgia pay close attention to verifying potential clients, especially non-residents.

• International passport. This is the primary identification document required by all banks without exception. Make sure that the passport is valid and has sufficient time before its expiration.

• Proof of income source. This can be a 2-NDFL certificate (or its equivalent from your country), a bank statement for the last 3–6 months showing incoming funds, a tax return, or a service contract confirming income.

• Proof of residential address in Georgia. Some banks, for example TBC Bank, may request this document. Most often, a residential lease agreement is accepted. In some cases, utility bills in your name or a hotel certificate for a long stay may suffice.

• Russian internal passport. Although the international passport is key, some sources mention the internal Russian passport as well.

• Other possible documents. A completed KYC form (the customer verification form known as Know Your Customer, where you indicate your source of income, field of activity, and purpose of opening an account; the bank provides it on site or online); your country's tax identification number (INN); in rare cases, a reference letter from your current bank.

📌  Document language: documents in English are preferred. If your documents are in Russian, be prepared for some banks to require a notarized translation into English or Georgian. It is better to prepare this in advance.

Best Georgian banks for foreigners

TBC Bank

TBC Bank is one of the largest and most modern banks in Georgia with a magnificent mobile app. However, in 2026 the bank adheres to the strictest policy regarding non-residents.

To apply, you need: an international passport, a local SIM card, detailed proof of income in English (bank statement, employment contract, or tax return), and a completed KYC form.

Bank advantages:

• One of the best and most stable banking apps in the region.

• A wide network of branches and modern ATMs across Georgia.

• Premium TBC Concept service with a personal banker (higher probability of account approval, but maintenance costs from 300 to 500 GEL per year).

Drawbacks and 2026 restrictions:

• High rejection rate: for citizens of the Russian Federation and Belarus without a Georgian residence permit or registered local sole proprietorship, opening an account is extremely difficult.

• Non-refundable verification fee: when submitting a KYC form, a document verification fee is charged (from 50 to 100 GEL depending on the package), which is not refunded even in case of refusal.

• Card restrictions: non-residents are standardly offered accounts and cards only in the national currency (lari GEL), and international online payments may be blocked by bank security.

💰 Maintenance cost: about 2–5 GEL per month for a standard card upon account approval.

Official website: tbcbank.ge

Bank of Georgia (BoG)

Bank of Georgia is the second banking giant of Georgia with a broad spectrum of financial services and a developed ecosystem.

Application procedure in 2026: for non-residents (especially citizens of Russia and Belarus), the bank introduced a preliminary online procedure. Before visiting a branch, you must fill out a KYC form on the portal kyc.bog.ge, attach a scan of your international passport, a 6-month bank statement in English, and proof of income source. A mandatory non-refundable fee of 50 GEL for reviewing the KYC questionnaire must be paid. Review takes 3–7 business days, and only after receiving an approval SMS can you visit any bank branch to collect the card.

Online KYC application on the bank's website

Bank advantages:

• Modern internet banking and mobile application.

• Multicurrency accounts and a wide selection of cards (including Visa, MasterCard, and American Express).

• Convenient online preliminary document submission through the kyc.bog.ge portal.

• An extensive network of branches and ATMs.

• For affluent clients, the program SOLO offers personalized service and investment products.

Bank drawbacks:

• Mandatory non-refundable fee of 50 GEL for reviewing the KYC application (money is debited immediately and not refunded upon refusal).

• Need to wait 3 to 7 days for approval: opening an account instantly on the day of arrival at BoG will not work.

• Limit on one-time purchases over €300 for holders of Russian and Belarusian passports on standard debit cards.

💰 Average maintenance cost: from 1 to 4 GEL per month for a standard card.

Official webpage for non-residents: bankofgeorgia.ge

Credo Bank (main choice for foreigners)

Credo Bank is, in 2026, the most loyal, fastest, and most accessible bank in Georgia for foreign citizens, including Russian and Belarusian passport holders without a Georgian residence permit. The approval probability here is close to 100%, and the account is opened directly on the day of the branch visit in 30–60 minutes.

The bank offers a special Expat Package with favorable service terms, round-the-clock internet banking, and free cash withdrawals in GEL at its ATMs.

Expat section on the bank's website

Bank advantages:

• Minimal document requirements.

• Fast service.

• Separate service centers for expats in Tbilisi and Batumi.

• Favorable conditions for loans, deposits, and insurance.

Bank drawbacks:

• Difficulties with receiving and sending international transfers, especially SWIFT. Transfers from abroad sometimes do not arrive or are delayed for a long time, while outgoing transfers outside Georgia are often impossible or available only through a branch rather than internet banking.

• "Cross Border Fee" (fee for inactivity within Georgia): charged to foreign citizens if the card is not used inside the country. The fee amount is 10–30 GEL per month. To avoid it being charged, it is enough to make at least one small cashless purchase in Georgia once a month.

• Lack of chat support (phone calls only), poor support performance.

💰 Average maintenance cost: from 1 to 3 GEL per month for a standard card. There is a VIP card with 100% approval, priced at 250 GEL per year.

Official webpage for non-residents: credobank.ge

Liberty Bank

Liberty Bank is the third-largest commercial bank in Georgia with a record number of branches throughout the country, including small towns and mountain villages.

The bank opens accounts for foreign citizens during a personal visit to a branch. To register, an international passport, Georgian phone number, proof of income, and completion of a KYC form are required. The fee for reviewing documents is about 50 GEL.

Bank advantages:

• Huge network of branches and ATMs throughout Georgia.

• Official and most convenient partner of money transfer systems (including KoronaPay): transfers from Russia can be credited directly to the card in the app.

• Issuance of full-fledged international Visa and Mastercard cards.

Bank drawbacks:

• The review period for the KYC form can range from 3 to 5 business days.

• The mobile application and online banking are less intuitive compared to TBC or BoG.

Official website: libertybank.ge

#	Bank	Ease of opening for Russian citizens	Required documents	International card	Key fees / restrictions
1	Credo Bank	Very high: opened on the day of the visit in 30–60 minutes	International passport, Georgian phone number, KYC form	Yes (Mastercard / Visa in GEL, USD, EUR)	Expat package ~105–120 ₾/year; "Cross Border Fee" 10–30 ₾/month
2	Bank of Georgia	Medium: decision in 3–7 days after online verification	Passport, 6-month bank statement in English, KYC form at kyc.bog.ge	Yes (Visa / MC), €300 limit per transaction	Mandatory non-refundable KYC fee 50 ₾
3	Liberty Bank	Above average: application at a branch, 3–5 days verification	Passport, local number, proof of income, KYC form	Yes (Visa / Mastercard)	Verification fee ~50 ₾; quick acceptance of KoronaPay
4	TBC Bank	Low: strict selection, frequent rejections without residence permit or sole proprietorship	Passport, local number, proof of income, KYC form	More often only in lari (GEL), restrictions on online payments	Non-refundable fee 50–100 ₾; Concept from 300 ₾/year

Brief comparison of banks for Russian citizens

Step-by-step account opening process

Opening a bank account in Georgia is quite simple if you know the sequence of actions and prepare all necessary documents in advance. Here is a detailed step-by-step guide that will help you quickly and smoothly become a client of a Georgian bank.

1. Finding a branch. After choosing a bank, find the branch nearest to you. Most bank websites have branch locators.

2. Application process: in-person visit only. In 2026, opening an account in a Georgian bank for citizens of the Russian Federation and most foreigners without a local residence permit is possible exclusively in person. The practice of opening accounts via notarized power of attorney through representatives has been completely discontinued by banks due to strict financial security requirements. Beware of intermediaries offering "turnkey remote account opening in Georgia": in the vast majority of cases, this is fraud or will lead to immediate rejection by the bank's security service.

• Approach a bank employee and inform them that you are a non-resident and wish to open a personal multicurrency account with an international debit card (Visa or Mastercard) for online payments.

• You will be provided with an application form and a KYC questionnaire. Fill them out truthfully and completely. Be prepared to answer questions about the purpose of opening the account, anticipated transactions, and source of funds.

• Submit all prepared documents.

3. Application processing times and gaining account access. In most cases, the account is opened on the day of application, and the bank card is issued immediately or within 1–3 days. If you open an account remotely, timeframes may increase to 5–10 business days.

4. Signing the contract. In case of approval, you will sign a banking service agreement. If possible, familiarize yourself with key terms or ask for clarification regarding fees and card usage.

5. Initial deposit. Some banks may require a small initial deposit to activate the account, although Georgian banks usually have no minimum deposit requirements for opening an account.

6. Receiving the card and setting up internet banking. After opening the account, you will receive a debit card (or several, if you opened a multicurrency account). All major banks provide convenient internet banking and mobile apps to manage accounts, pay for services, make transfers, and monitor balances. Be sure to activate the card and configure online banking access right at the bank.

By following this step-by-step instruction, you will be able to open a bank account in Georgia quickly and without unnecessary complications, and also enjoy all advantages of the country's modern banking system.

Important nuances and possible complications

Reasons for refusal

A bank may refuse to open an account without giving reasons. Frequent reasons for refusal for foreigners:

• Insufficient or questionable proof of source of funds.

• Presence on sanctions lists or suspicion of money laundering.

• Providing incomplete or inaccurate information.

What to do in case of refusal: Try applying to another bank or provide additional documents if the bank explained the reason for refusal.

Taxation

Opening a bank account in Georgia may entail tax obligations both in Georgia and in your country of tax residency. Be sure to examine Georgian tax legislation and that of your country of origin. Georgia has quite an attractive tax system, but it is best to consult with a tax specialist.

Conclusion

Opening a bank account in Georgia is a procedure accessible both to residents and foreigners, and with proper preparation does not take much time. It is important to choose a suitable bank in advance and prepare documents (international passport, proof of income, Georgian SIM card). For citizens of Russia and Belarus, requirements have become stricter in 2026; however, Credo Bank and the Liberty Bank still stably open accounts for tourists and expats upon in-person application.

Remember that personal presence in Georgia is currently mandatory for opening an account: Georgian banks no longer accept remote arrangements and powers of attorney. After opening an account, do not forget to notify your country's tax authorities within the statutory period (for Russian tax residents, within 30 calendar days via the personal account on the Federal Tax Service website).

Overall, Georgia's banking system remains one of the most loyal and modern in the region, while an account in a Georgian bank opens access to international financial services and simplifies settlements abroad. Follow the step-by-step instructions, and the process will proceed as quickly and comfortably as possible. Good luck with the paperwork and successful use of your new account!