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Why Should You Have A Personal Bank Account in Georgia? - PowerPoint PPT Presentation


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Opening a personal bank account in Georgia can help you as an individual or a businessman with many advantages such as the one to get a temporary residence.

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why should you have a personal bank account

Why Should You Have A Personal Bank Account in Georgia?

Georgia has come a long way from its tumultuous past and is now recognised

as a tax haven and one of the best investment destinations in the world. So,

should the country be on your radar for a slew of reasons, then opening a

personal account in Georgia would do you and your business a world of good.

The slew of reasons can be the following:

Shifting a part or your entire business to Georgia

Opening a new business in any of the domains like real estate,

manufacturing, IT, logistics, infrastructure etc

Opening an offshore account as a non resident to secure tax benefits

Moving there as a tourist to enjoy the country’s beautiful landscape,

historical monuments, a vibrant art and culture scene, and exploring

adventures like hiking, skiing, and caving

it is worth noting that the banking sector

It is worth noting that the banking sector in Georgia is robust, modern and

transparent wherein you can avail all the banking facilities like e-banking,

credit facilities, transfer of money in multiple currencies etc. A personal bank

account in Georgia will help you as an individual or a businessman to transact

business, be it at the local or global level. For a global businessman or an

individual who travels all across the world, having a bank account in Georgia

will act as a facilitator of sorts due to the prevalence of low rates for banking

services and the latest e-banking facilities where time and location do not

matter anymore.

Personal bank account for foreigners?

Yes, a foreigner can open a personal bank account in the country in any of the

banks such as the Bank of Georgia, TBC, Liberty and Basis among others after

submitting a number of documents related to the proof of identity. These

documents are as follows:

Application form

Sample signature

Personal identification document - passport along with its copies

The best part is that as a foreigner you need not visit Georgia to open a

personal bank account but can assign the job to a local lawyer by giving him

or her the power of attorney.

Basic amount needed to open a personal account

There is no requirement of a minimum amount to open an account, be it by a

local resident or a foreigner. Moreover, the charges for banking services are

quite low compared to the international standards.

The new law to seek a temporary residence in Georgia

In case you want to get a temporary residence in Georgia to facilitate your

business or for any other purpose, there is a new law that requires you to

have a savings account in a local bank with a minimum balance of 3000 GEL.

Thus, more the reason you should possess a personal bank account in

Georgia.

Conclusion

With Georgia becoming a haven for businesses, the need to possess a personal

bank account in a local bank has become important and a matter of

convenience. In fact, the need can get even more pronounced should you want

to have a temporary residence in Georgia.

you can read the full blog http www kaukapital

You can read the full blog :- http://www.kaukapital.com/2018/02/20/personal-bank-account-

georgia/

Kaukapital

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0159 Tbilisi, Georgia

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