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Obtaining a financial license in Georgia

For active financial activities with the provision of payment services, a company registered in Georgia will need to issue an appropriate permit.

Depending on the nature of the actions that the company intends to take, the type of license may differ.

If you want to obtaining a financial license in Georgia, contact the E-COMMERCE BROKER Company for qualified assistance. Company employees will help determine if licensing is needed and what exactly needs to be done.

When do you need a financial license in Georgia?

Not every company needs to obtain a license, for example, a license is not required to trade securities and other assets, but a special license is required when providing depository and brokerage services.

A brokerage license grants the legal authority to deal with securities, advising and conducting transactions on behalf of its clients. Licensing is also necessary if the company is going to operate with electronic money, providing services for:

  • debiting, crediting, executing payment orders of the client;
  • conducting transactions within the debit or credit provided;
  • emission of electronic money, as well as the acquiring of payment instruments;
  • money transfers;
  • non-cash transactions carried out using a mobile device, via the Internet, and other options for remote interaction.

Financial license obtained in Georgia valid only within the country. When entering the international market, enterprises undergo additional verification in the regulatory bodies of other states.

How to get licensed in Georgia?

The basis for issuing a permit will be the filing of an application with the main package of documentation:

  1. Extract from the state register.
  2. Payment document for payment of duty.
  3. Certificate of good conduct.
  4. Beneficiary information and supporting documents.
  5. Financial statements (last six months of activity).
  6. The document confirming the capital.

The application must indicate the type of license, the name of the body where the company is applying, and its address.

Business requirements

Obtain a financial license in Georgia can be a joint stock company or a limited liability company. To establish a company, resident status is not required. The National Bank of Georgia is in charge of issuing licenses, putting forward the following requirements:

  1. Authorized capital - from 250 thousand lari. The money is paid in full before applying for a license, and the amount should not fall below the minimum threshold.
  2. When recruiting personnel, including directors, Georgia has established a minimum of requirements, for example, no criminal record.
  3. The presence of an actual office is not required, in Georgia there can only be a legal address.

each company, registered on the territory of Georgia, must report to the tax authority and keep accounting. In case of reorganization, liquidation or bankruptcy, the company must notify the National Bank.

If it is planned to conduct brokerage activities, an appropriate broker license is required, subject to the availability of an authorized capital of 500 thousand lari. Upon a separate application from a company representative, upon registration or later, it is possible to obtain a status that opens a number of privileges for a financial company as an international company.

Licensing terms

It takes about a month to get ready to apply for a license. After receiving a package of documents for consideration, the National Bank has 30 days to consider and make a final decision.

Possibility get a financial license in record time attracts many foreign entrepreneurs looking for areas with increased investment attractiveness.

Employees of the "E-COMMERCE BROKER" Company will tell you in detail about the advantages and nuances of licensing in Georgia, and will help with quick approval of the permit. It should be noted that mistakes made when submitting documents may lead to the need for correction, which increases the waiting period for a license by another 30 days.

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