Crypto license in Georgia

Georgia is steadily strengthening its position on the map of countries favourable for the development of the cryptocurrency business. Simple taxation, quick company registration and the state's friendly attitude towards digital assets make the local jurisdiction attractive for start-ups, mining farms and international crypto platforms.

Price: €16 500.

The process of obtaining a crypto licence can take as little as six months.

Georgia's legal framework allows for the legal conduct of activities related to digital assets, subject to a number of conditions and registration requirements.

A crypto licence in Georgia provides a reliable legal basis and access to European and Asian markets for projects of any scale, from start-ups to large companies:

• crypto start-ups and exchanges;
• payment service providers (PSP/VASP);
• digital asset storage service providers;
• fintech projects and aggregators;
• initial token offering organisers.

What services can be provided with a Georgian licence

• Lending and borrowing secured by crypto assets.
• Issuing and supporting tokens (ICO/IEO/STO).
• Crypto exchange between different tokens and coins.
• Consulting and conducting audits in the field of blockchain projects.
• Integration with international payment gateways and crypto exchanges.
• Exchange of cryptocurrency for fiat (and vice versa).
• Custody of digital assets on third-party platforms and in custodial solutions.
• Payment services in virtual assets: transfers, settlements, and acceptance of crypto payments.
• Digital asset portfolio management (asset management).
• Organisation and maintenance of mining pools and related services.

Advantages

• Legal conduct of crypto business;
• Ability to work with banks;
• Direct access to payment gateways;
• Trust from investors, banks, and customers;
• Scalability and flexibility of business.

Additional advantages include no VAT on cryptocurrency transactions. This makes the country an attractive platform for launching and developing crypto projects with international ambitions.

Requirements

1. Registration of the company in accordance with Georgian legislation as a joint stock company or limited liability company.
2. Compliance of the director and beneficial owners with a number of criteria (reputational and qualification).
3. Presence of the company's head office in Georgia to manage its activities.
4. Acquisition of a licence and use of special software in operations.
5. Development of internal AML and Anti Money Laundering policies by the company.

Stages of obtaining a Georgian crypto licence

1. Obtaining input data from the client about the desired result.
2. Compiling a list of recommendations and checkpoints for the project.
3. Determining the services that VASP will provide.
4. Preparing documents.
5. Assisting with company registration.
6. Assisting in opening a bank account.
7. Developing AML policies and internal instructions.
8. Preparing documents for obtaining a VASP licence.
9. Submitting an application for a crypto licence in Georgia.
10. Delivering the completed documents to you.

Additional services

Paid separately

• We provide support in opening non-resident companies and branches;
• We help open private and corporate bank accounts;
• We advise on confirming the source of funds;
• We prepare financial and accounting reports;
• We accompany the process of passing compliance checks.