Quick Facts
| Parameter | Value |
|---|---|
| Regulator | NBG / FIZ administrators |
| License types | VASP Registration · FIZ Company (free industrial zone) |
| Minimum capital | None for FIZ |
| Typical timeline | 4–6 weeks |
| Corporate tax | 0% reinvested / 15% distributed (FIZ) |
| Region | Eastern Europe |
Why Georgia?
- Operational in 4–6 weeks under FIZ + VASP combined;
- 0% on reinvested corporate income inside the FIZ;
- Crypto-friendly banking remains workable;
- Useful bridge while EU MiCA setup matures.
Sweet spot for cost and speed. Bridge to MiCA.
License types available in Georgia
| License | Regulator | Timeline | Capital |
|---|---|---|---|
| Georgia VASP Registration | NBG / FIZ | 4–6 weeks | None significant |
Requirements for a Georgia crypto license
Every Georgia crypto application turns on six pillars. Get them right and the regulator interaction becomes routine; get them wrong and you spend the next six months in RFI cycles.
- A locally-registered company with a clear corporate structure and identified ultimate beneficial owners;
- A resident director and a Money Laundering Reporting Officer (MLRO) familiar with Georgia compliance practice;
- An AML/KYC programme calibrated to NBG / FIZ administrators expectations, including transaction monitoring rules and FATF Travel Rule readiness;
- A demonstrable office presence — physical address, document retention policies and incident response plan documented;
- Capital evidence consistent with the regime: None for FIZ;
- A clean source-of-funds and source-of-wealth file for all controllers, with supporting documentation.
Step-by-step process for a Georgia crypto license
- Strategy and gap analysis. We map your business model to the available licence categories at NBG / FIZ administrators and identify the gaps before any regulator interaction.
- Incorporation and substance setup. Local entity formation, resident-director arrangement, registered office and AML officer appointment are completed in parallel to save weeks on the timeline.
- AML / KYC programme drafting. Transaction monitoring rules, sanctions screening, KYB onboarding flow, MLRO reporting matrix and Travel Rule provider selection are documented to regulator-grade standard.
- Application file and submission. The application file is built to the actual reading list of NBG / FIZ administrators examiners — not a generic template — and submitted with a covering memo addressing the most common RFI triggers.
- Regulator engagement and RFI cycles. We respond to Requests for Information within published service-level windows and brief you weekly on engagement progress.
- Approval and onboarding. On approval, the post-licence onboarding sprint covers banking, payment rails, audit firm appointment, and the first annual return calendar.
- Ongoing supervision. Annual reporting, AML programme refresh, MLRO appointments and material change notifications are calendared and monitored.
Costs breakdown
Total first-year all-in cost combines four lines: regulator fee, statutory capital tied up unproductively, legal fees, and substance (resident director, office, AML officer, technology audit). Ongoing supervision sits on top from year two onwards. We model three-year total cost upfront so the budget is realistic.
| Cost line | Indicative range |
|---|---|
| Regulator fee | Confirmed in writing at engagement |
| Statutory capital | None for FIZ |
| Legal fees | Fixed-scope quote at kickoff |
| Substance (year 1) | Resident director, office, AML officer |
| Ongoing supervision (year 1+) | Annual audit, returns, AML refresh |
Taxation
The corporate tax position in Georgia is 0% reinvested / 15% distributed (FIZ). Tax is structuring-dependent — the headline rate is rarely the rate a properly-structured group ends up paying. Tax advice is provided in cooperation with locally-admitted tax counsel and is scoped separately from the licensing engagement.
Documents required
- Certificate of incorporation, articles, shareholder register and group ownership chart;
- UBO identification — passports, addresses, source-of-funds and source-of-wealth documentation for all controllers;
- Director and senior-management CVs, regulatory references, fit-and-proper questionnaires;
- Business plan with three-year financial projections and stress-tested assumptions;
- AML/KYC policy pack — programme manual, risk assessment, transaction-monitoring rules, sanctions-screening procedure, MLRO appointment and reporting matrix;
- Technology architecture description — wallet model, custody segregation, key management, incident-response plan, cybersecurity certifications;
- Lease and proof of substantive office in Georgia where applicable.
Our experts for Georgia
Tomáš Novák
Senior Counsel — EU & Eastern Europe
Six years at the European Banking Authority working on MiCA technical standards and the Transfer of Funds Regulation.
- LL.M. KU Leuven
- Czech Bar
- Former EBA Senior Policy Officer
Client testimonials — Georgia
Georgia’s Free Industrial Zone setup is a sweet spot for crypto-native projects. Tomáš’s team handled the FIZ company formation, the VASP registration, and the tax structure as one package. Operational in five weeks. Cost-effective.
We needed a fast bridge while we waited for our EU MiCA setup to mature. Georgia VASP was the right interim play. The team executed it in four weeks and is now coordinating our migration to a Czech CASP licence.
Georgia is well-priced and well-run. The FIZ tax incentives are real but require proper substance. The team made sure we structured the substance correctly so we will not face challenges from foreign tax authorities.
They told us upfront that Georgia might not survive long-term as our main jurisdiction once the regulatory environment tightens — and built a roadmap to migrate. That kind of long-term thinking is rare.
Frequently asked questions
How long does it take to get a crypto license in Georgia?
Crypto licensing in Georgia typically takes 4–6 weeks from kickoff to authorisation under NBG / FIZ administrators. The variance comes from RFI cycles and the quality of the application file at submission, not the published schedule.
What is the minimum capital for a crypto license in Georgia?
Minimum capital for a crypto license in Georgia is None for FIZ. Capital is one input — substance, governance and AML programme quality usually drive the application outcome more than the capital line on its own.
Who is the regulator for crypto in Georgia?
Crypto activity in Georgia is supervised by NBG / FIZ administrators. The available licence categories are: VASP Registration, FIZ Company (free industrial zone). Each licence covers different activities — choosing the right one is part of the upfront strategy work.
Do I need a local director or office in Georgia?
Most Georgia crypto regimes require a resident director, an appointed MLRO and a substantive local office. Substance is non-cosmetic — regulators audit it, and a paper presence will fail at the first examination.
What is the corporate tax rate for a crypto company in Georgia?
The corporate tax position in Georgia is 0% reinvested / 15% distributed (FIZ). Tax is structuring-dependent — the headline rate is rarely the rate a properly-structured group ends up paying. Tax advice is provided in cooperation with locally-admitted tax counsel.
Can Georgia be combined with another crypto licence in a multi-jurisdictional structure?
Yes. Most live operators run a primary licence (typically VARA, MPI, VATP or FCA) plus a secondary onshore wrapper or offshore foundation. Georgia is most commonly combined with an offshore foundation for token issuance.