Crypto License with Georgia Solutions

Crypto license in Georgia

Georgia Solutions offers assistance in obtaining a license for cryptocurrency and digital asset activities in Georgia.

Obtaining a Crypto License in Georgia with Georgia Solutions

If you're planning to obtain a crypto license in Georgia, our company offers comprehensive support throughout the process. We assist with document preparation, selecting the right legal structure, and liaising with regulatory authorities, allowing you to focus on growing your crypto business.

The price includes:

Document preparation, company formation and registration in the Georgian Free Industrial Zone, obtaining Virtual Asset Service Provider (VASP) status, and assistance in acquiring a license.

Required documents:

company incorporation documents, physical office in Georgia

€15 000

Simplified Registration: The process of registering as an individual entrepreneur in Georgia is streamlined and can be completed in just one day. Attractive Tax Rates: Georgia boasts one of the most favorable tax systems in the region, allowing for significant tax savings. An individual entrepreneur in Georgia can pay only 1% tax on annual income up to 500,000 GEL.*

Business-Friendly Laws: Georgian laws offer entrepreneurs numerous benefits and flexible business conditions.

Economic Stability: Georgia is well-regarded for its stable economy and welcoming investment environment.

Types of crypto-licenses

There are various types of licenses that enable companies to operate in specific areas related to digital currencies.

Cryptocurrency Exchange License: Enables the exchange of electronic money for fiat (unsecured) currencies and vice versa.
Crypto Asset Storage License: Grants the right to store and safeguard clients' digital assets.
Investment Fund Management License: Allows the management of specialized organizations that invest in electronic money.
Cryptocurrency Exchange Operation License: Permits the creation of a platform for cryptocurrency trading between users.
ICO Conducting License: Authorizes the implementation of initial coin offerings to raise investment for projects.

Georgia' requirements for cryptocurrency transactions

Georgia is increasingly becoming an appealing jurisdiction for crypto companies due to its favorable laws and business-friendly tax environment. However, since 2024, the country has introduced regulations governing cryptocurrency-related activities. Georgia's requirements for cryptocurrency operations include:

Company registration in the country.
Obtaining Virtual Asset Service Provider (VASP) status.
Adherence to AML/KYC regulations to prevent money laundering and terrorist financing.
Ensuring data protection and customer privacy.
Compliance with reporting and accounting standards.
Having a physical office and technical equipment for secure transactions.

Virtual Asset Service Provider (VASP) Activities

A virtual asset service provider (VASP) is a company that has the right to carry out the following activities:

Exchange between cryptocurrencies and fiat currencies.
Storage, management of clients’ digital assets.
Conducting initial coin offerings (ICO), other investment events.
Management of investment funds investing in cryptocurrencies.
Provision of payment services using cryptocurrencies.

Benefits of Obtaining a Cryptocurrency License (VASP Status) in Georgia

Favorable tax situation: low taxes on income from cryptocurrency activities.
Transparent, clear regulation based on European standards.
Fast and efficient licensing process.
Possibility to open bank accounts in Georgian banks.
No strict requirements for the size of the authorized capital.
Possibility to work with foreign investors, access to the international market.
Government support, development of the IT sector.
More favorable conditions compared to other jurisdictions, such as the UAE, Poland, Lithuania, Singapore or Hong Kong.

Requirements for a Virtual Asset Service Provider in Georgia

Registration of a company in Georgia in accordance with local legislation.
Availability of a qualified director, employees without criminal records, violations of the law.
Opening a physical office in the country that meets all requirements.
Development of internal policies, procedures for AML/KYC, risk management, data protection.
Ensuring compliance of the technical system with security requirements, capabilities for processing transactions.
Compliance with reporting requirements, provision of information to the regulator.
No financial obligations, no criminal records of beneficial owners.
Compliance with the privacy policy, protection of the interests of clients.

VASP operations, reporting

Compliance with AML/KYC rules, conducting customer checks.
Regular reporting to the regulator (National Bank) on transactions performed.
Ensuring the security of funds, customer data.
Conducting internal audit, risk monitoring.
Mandatory notification of the regulator of any significant changes in activities.
Compliance with all accounting requirements, tax legislation.
Ensuring a high degree of transparency, readiness for inspections by the regulator.

Benefits of obtaining a crypto license from Georgia Solutions

Legal support at all stages of licensing.
Consultation on legislation, taxes, financial requirements.
Preparation of all necessary documents, their submission to regulatory authorities.
Translation, legalization, apostille, notarization.
Assistance in registering a company, opening bank accounts.
Development of internal policies.
Support in the process of interaction with the regulator.
Accounting, tax support, preparation, submission of reports.
Fast, effective solution of all arising issues.
Compliance with privacy policy, protection of interests.
Experience working with companies from different countries, including foreign clients.

Our advantages:

A team of professional lawyers and financiers.
Individual approach to each client.
Deep understanding of the specifics of the market, Georgian legislation.
Connections with local banks, which helps in quickly opening accounts.
Complete transparency, informing the client at every stage.
Assistance in tax planning, optimization.

Georgia Solutions is your trusted partner for business registration and management in Georgia. We are here to help turn your entrepreneurial dreams into reality with minimal effort and maximum efficiency.

In Georgia, it is possible to register activities related to the exchange of cryptocurrencies, storage of digital assets and other crypto services.
You will need the company’s constituent documents, copies of the founders’ passports, a business plan and information on the area of activity.
The process can take from 2 to 4 weeks, depending on the complexity of the documents and regulatory requirements.
No, a local director is not required, but it is recommended to have a local representative for ease of doing business.
The main requirements include compliance of the statutory documents with the law, transparency of the company structure and the availability of sufficient capital.
Yes, our company provides full support for the process, including preparation and verification of all necessary documents.
In Georgia, cryptocurrency companies can benefit from preferential taxation, depending on their structure and activities.
The main requirements include compliance of the statutory documents with the law, transparency of the company structure and the availability of sufficient capital.
The main requirements include compliance of the statutory documents with the law, transparency of the company structure and the availability of sufficient capital.

FAQ :

CONSULTATION

Preparation of a business plan, determination of the type of crypto license depending on the planned activity.
Company registration: Selection of a corporate form, usually LLC.
Preparation of constituent documents.
Registration with the National Agency of State Registry.
Development of internal policies, AML/KYC procedures.
Opening a bank account in a Georgian bank.
Preparation and submission of an application for a license to the relevant authority.
Installation of the necessary IT infrastructure, acquisition of software.
Hiring, training personnel, including finance, compliance and IT specialists.
Passing the check, obtaining a permit for activity.
Carrying out activities in accordance with the law, regular compliance with all requirements.

How to get a crypto license in Georgia: steps

Georgia Solutions offers comprehensive services for obtaining a crypto license in Georgia on a turnkey basis:

If you're looking to launch your crypto business in Georgia and obtain a crypto license, the Georgia Solutions team is here to offer all the necessary services. We provide full support, from concept development to the commencement of operations. With our expertise and professionalism, we help you avoid potential mistakes and save valuable time. For more information, to order services, or to ask specialized questions, feel free to contact us via email or phone (messengers available: WhatsApp, Telegram).