Opening a Georgian bank account: in person or remote?

A Georgian bank account is one of the most accessible foreign accounts there is: multi-currency, Visa cards, a Georgian IBAN and good online banking. The real question isn't whether it works, but how: in person at a branch or remotely by power of attorney. This article walks through both routes.

What you get

The two big banks are TBC and Bank of Georgia. I hold a TBC account myself, with sub-accounts in euros, US dollars and lari, one (or several) Visa cards and a Georgian IBAN that lets me receive money easily from the US, for example. For a life lived between currencies and regions, that's a very practical anchor.

Opening in person: the reliable route

In person at a branch, opening is usually done in around 30 minutes. Bring your passport, a Georgian phone number and a plausible statement on the source of your funds (KYC). If you're in Georgia anyway, take this route, it's the most reliable.

Remotely by power of attorney: possible, but not guaranteed

Opening from abroad runs through a notarized power of attorney with an apostille plus a certified copy of your passport, with which a representative opens the account on the spot. The account is often opened within one business day of the documents arriving in Georgia. Important: banks don't accept digital powers of attorney, the original has to travel physically to Georgia.

To put it in context: the route is legal and it works, but it is bank- and branch-dependent and is increasingly refused as well. Some sources call it routine, others say certain banks open accounts for non-residents only in person. So don't rely on a guarantee. If you open remotely, make sure the power of attorney is broad enough (one that's too narrow will block your access later) and that you have a clean source-of-funds statement.

What to watch for

Account freezes on large transfers: larger incoming amounts (from around USD 1,000, clearly from USD 10,000) can be frozen temporarily until you prove the source of the funds. Keep your documentation ready.
CRS: Georgia participates in the automatic exchange of information (CRS). So your home tax authority can see the account. For Europeans that's relevant and should be factored in.
Nationality: for some nationalities (Russia, Belarus for instance) opening is considerably harder.

The essentials

TBC and Bank of Georgia offer multi-currency accounts (EUR/USD/GEL), Visa cards and a Georgian IBAN.
In person, opening takes around 30 minutes and is the most reliable.
Remotely by notarized, apostilled power of attorney is possible, but bank- and branch-dependent and not guaranteed. No digital powers of attorney.
Watch for account freezes on large transfers, CRS exchange and nationality-based hurdles.

The location overview is on Georgia, the tax side on Tax residency in Georgia.

Sources

TBC Bank
Bank of Georgia
Revenue Service of Georgia (on CRS and tax)

This article is a general overview, not legal or tax advice. Banks' onboarding conditions and procedures change and depend on your case. Have your specific situation checked up front.