Jurisdiction Note
Georgia – Crypto License & Regulation (2025)
Full country note • No summary • Styled for CryptoWisely
General Overview

Georgia has emerged as one of the newest and most proactive jurisdictions in the global crypto landscape. The country introduced its Virtual Asset Service Provider (VASP) License on August 1, 2023, under the supervision of the National Bank of Georgia (NBG) and its enforcement arm, the Financial Monitoring Service (FMS). This framework positions Georgia as a crypto-friendly innovation hub between Europe and Asia.

While cryptocurrency is not legal tender, the government recognizes its importance as financial technology and has created a structured framework for compliant operations. Georgia has also signed a strategic agreement with Tether to develop national blockchain infrastructure, signaling institutional-level commitment to the digital asset economy.

The VASP license is designed to balance accessibility and accountability, enabling a wide range of activities while maintaining robust AML/KYC oversight.

Types of Licenses

Georgia uses a single, comprehensive VASP authorization. Applicants specify intended services within the application appendix.

  • Exchange between virtual assets and fiat, or between different virtual assets
  • Transfer and safekeeping of virtual assets
  • Custody and administration of private keys or wallets
  • Management of virtual asset portfolios (excluding collective schemes)
  • Operation of trading platforms for virtual assets
  • Lending of convertible virtual assets
  • Conducting and managing Initial Coin Offerings (ICOs) and related services
Process & Timeline

The process is structured but efficient, typically taking 3–4 months. It generally involves corporate substance in Georgia plus AML/CFT readiness under NBG supervision.

  • Company formation and office setup
  • Local director appointment (residing at least 14 days/month)
  • AML Officer assignment
  • Preparation of AML/KYC documentation
  • Submission to NBG with 5,000 GEL fee
  • Review and approval (often within ~60 days)
Legal Framework & Compliance
  • Registered legal entity within Georgia
  • Resident director responsible for AML
  • Physical office and recordkeeping
  • AML/CFT program with risk-based monitoring
  • Internal audit and reporting procedures
  • Active communication with Financial Monitoring Service (FMS)
Taxation & Incorporation
  • Corporate Income Tax: 15% (+5% on dividends)
  • 0% tax option in Free Industrial Zones
  • No minimum share capital
  • Fast incorporation (≈1 week; remote possible)
Advantages
  • Wide scope of activities (exchange, ICO, custody, lending)
  • Low cost and relatively quick setup
  • No capital or nationality limits
  • Government-backed blockchain development signals (incl. Tether partnership)
  • Strong positioning between EU and Asia
CryptoWisely Insight

Georgia represents a practical balance of accessibility, legal clarity, and visible government support in the post-MiCA landscape. Its 2023–2025 framework can serve as an affordable, EU-adjacent base for early-stage exchanges, custodians, and token projects—provided AML/CFT execution is handled to institutional standards.

CryptoWisely Support: End-to-end assistance covering eligibility check, documentation, compliance program setup, and licensing workflow coordination with NBG and FMS until approval.

Disclaimer: This note is for informational and planning purposes only and is not legal advice. Always verify updated NBG/FMS requirements before execution.