Crypto License in Georgia 2023 — Gofaizen & Sherle
Cookie Preferences
By clicking "Accept", you agree to the storing of cookies and similar technologies on your device to enhance site navigation, analyze site usage, offer certain functionalities and assist in our marketing efforts. Strictly necessary cookies are always active.Read the cookies policy

Crypto License in Georgia

Georgia is a favorable jurisdiction for cryptocurrency business. Gofaizen & Sherle provides professional support in obtaining a crypto license in Georgia


Before obtaining a license for cryptocurrency in Georgia, it is necessary to create a company. It is recommended to do this in the Free Industrial Zone (FIZ) territory, which provides preferential taxation and other favorable conditions. There is no mandatory authorized capital. However, it should be noted that the company must provide a realistic business plan.

Georgia is on the list of countries with a legal regime allowing international dealers to work with cryptocurrencies. This country is open to crypto, thanks to favorable tax conditions, soft laws, and liberal government.

At the moment, the local cryptocurrency sector is supervised but not regulated. To work with virtual currency, individuals do not need special permission from the National Bank of Georgia; however, commercial companies must obtain a crypto license for legal activities.

Request more information about the Georgia Crypto License

There are no technical regulations governing cryptocurrencies in the country. However, government agencies are enthusiastic about blockchain technology and actively implement related technologies in their work. For example, the geo cadastre of the country is already working on the blockchain.

Each company that wants to engage in business activities in virtual currencies must obtain a special crypto license in Georgia. It will allow you to legally carry out operations for the purchase and sale of cryptocurrency, with the possibility of providing services for storing it in wallets and conducting transactions.

With the correct execution of all necessary documents, obtaining a license for a crypto exchange in Georgia is easy and takes up to a month.

Advantages of a crypto license in Georgia

Favorable environment for the development of the crypto business

Georgia is one of the most supportive countries in the world regarding cryptocurrencies. Due to the low cost of electricity, mining is flourishing, and cryptomats are successfully functioning. Transactions worth up to 5 million lari (1.6 million USD) are conducted monthly in the country in the cryptocurrency markets. Taxes on operations with digital assets are low, the laws are flexible, and obtaining a license for a crypto exchange in Georgia in 2023 is easy if all the conditions of the regulator are met.

Fast terms for obtaining a crypto license in Georgia

You can quickly register a company and obtain the necessary license in Georgia. On average, this process takes only 2-3 weeks, significantly different from the processing time in other jurisdictions, which can take up to 6 months. This advantage substantially saves time for entrepreneurs and investors and allows you to start a business quickly.

No residency requirements

A citizen of any country can open a crypto company in Georgia. Moreover, there is no need to open a local office, it is enough to provide a legal address, and you can conduct business remotely. There is also no need to maintain a physical office. It allows companies to reduce costs significantly and focus on growing their business.

No minimum authorized capital

In Georgia, there is no minimum authorized capital for company registration. Entrepreneurs can start their businesses with any amount per their industry's requirements. Such a flexible approach allows small and medium-sized companies to create without restrictions, contributing to developing the country's economy and attracting investment.

Free industrial zones

In 2008, Free Industrial Zones (FIZs) were created in the country, providing many benefits for registered companies. One of the main advantages is the exemption from income tax, VAT, and property tax. It significantly reduces the tax burden on businesses and makes the country even more attractive to investors.

Requirements for obtaining a crypto license in Georgia

To obtain a crypto license in Georgia, you must perform the following steps:

  • Register a limited liability company (LLC) or a joint stock company (JSC) whose owners can be citizens of any country.
  • Provide the regulator with information about each company owner, including non-residents.
  • Confirm the absence of criminal records of directors and beneficiaries.
  • Confirm a sufficient level of solvency of the enterprise in providing exchange services and storing crypto assets.
  • After obtaining a license, compliance with regular audits and maintaining accounting records is necessary.
  • If a company plans to exchange and store e-money, it must notify the regulator of all significant changes, such as liquidation or temporary suspension of activities.
  • The company's founders must provide the regulators with a realistic business plan, a list of services offered, and a detailed description of the protection methods against hacker attacks.

Explore other Crypto Licences

Crypto License in Lithuania
Crypto License in Poland
Crypto License in Estonia
Crypto License in Czech
Crypto License in Slovakia
Crypto License in Canada
Crypto License in UAE
Crypto License in Portugal
Crypto License in Bulgaria
Crypto License in Kazakhstan
VARA Regulation
MiCA Regulation
Other legal support to crypto projects: ICO/STO/NFT etc

Connect with our experts

Our experts will tell you how to do it as quickly and easily as possible


By clicking the button, I confirm that I have read the privacy policy and consent to the collection and processing of my personal data in accordance with the GDPR rules.


Email:[email protected]

Lõõtsa tn 2a, 11415 Tallinn, Estonia

Phone: +3726028423+37080000484

Žalgirio g. 88-101, Vilnius, Lithuania

Phone: +37066108308

License for operating activity: FIU000407

Message sent successfully
We will read your message shortly. And we will try to answer you as soon as possible.

Crypto Laws in Georgia

Georgia still needs to have a special law dedicated to cryptocurrencies. However, in June 2019, the Minister of Finance of Georgia issued a public Decision N201, the only normative act (by-law) in Georgia containing a detailed definition of crypto assets and their tax interpretation.

The public decision explains:

  • Georgian legislation does not legally define a crypto asset or virtual currency.
  • Each unit of a crypto asset has a market value; it can be issued, owned, transferred, divided into parts, and bought and sold. At the same time, a crypto asset is not a legal tender, as well as e-money, by the legislation of Georgia.
  • Based on the foregoing, by Article 13, part 2 and Article 16, part 2 of the Civil Code, the supply of a crypto asset (exchange of a crypto asset for national or foreign currency) and the transfer of ownership rights to it are not a VAT-taxable operation.
  • In addition, per subparagraph “F” of Article 82 of the Civil Code, income (including benefits) received by a resident individual unrelated to income from a source in Georgia is exempt from income tax.

While there is no legislative regulation of the cryptocurrency sphere in the country, a crypto license in Georgia for legal activities can be obtained in free industrial zones (FIZ – FZ).

With this license, you will be able to provide the following services:

  • Exchange cryptocurrencies;
  • Sell tokens;
  • Keep e-money in virtual wallets;
  • Debit and credit digital currencies to accounts.

Registration and opening of crypto companies in Georgia

To open a crypto company in Georgia, you need to follow the following steps:

  • Determine the direction of activity: trading tokens, services for exchanging or storing cryptocurrency, etc.
  • Choose the most suitable type of company, such as LLC or JSC.
  • Select and register a unique business name in the National Register.
  • Prepare a package of corporate documents and certify them with a notary.
  • Register with the Register of Entrepreneurs. Obtain a tax number and an extract on the state of the enterprise and tax registration.
  • Choose a place of registration, for example, a FIZ.
  • Open a corporate bank account in Georgia.

List of documents required to register a company in Georgia:

  • The company's charter is an official document that creates a legal entity and determines the conditions for its activities in Georgia.
  • A document that determines the amount of contribution of each founder.
  • The application must contain information about the enterprise's name, legal entities, authorized capital, and documents approving the composition of the board of directors.
  • If you are registering an LLC-type company, the application must also contain the address, business plan, date of commencement of work, and information about the company's directors (name, place of registration and birth, professional activity).

Registering a company in a free industrial zone (FIZ) in Tbilisi, Kutaisi, or Poti to receive benefits is better. Companies registered in these zones are exempt from income tax and dividends. At the same time, even foreign investors can be owners of enterprises.

A Free Industrial Zone (FIZ) is established based on the Tax Code, which provides favorable business rules and special customs tax regimes. In addition, payments in any currency are possible in FIZ, and there are no trade barriers or quotas.

Currently, there are free zones in Georgia located in the following areas:

  • Tbilisi (capital of Georgia);
  • Kutaisi, located in the Oceania region, is an important transport hub between Tbilisi and the Black Sea ports;
  • Poti – the first free zone in the Caucasus region.

Cryptocurrency taxation in Georgia

Regarding the taxation of cryptocurrencies, one should again refer to the public Decision N201. The Ministry of Finance made the following decisions:

  • income received by an individual from the supply of crypto assets is exempt from income tax;
  • supply of a crypto asset by individuals (exchange of a crypto asset for national or foreign currency) is also exempt from VAT.

At the same time, cryptocurrency companies must pay corporate fees on profits, including those earned abroad. Companies should pay a tax of 15% on each transaction if they receive a profit from it.

From 01.01.2017, the "Estonian model" of taxation was introduced in Georgia, which is based on the principle of taxation exclusively from distributed profits. This means that in a situation where enterprises do not pay dividends and instead direct funds to corporate development, they are exempt from paying income tax.

Recall that you should consider opening a company in the FIZ of Georgia if you want to receive tax benefits. Main advantages:

  • Exemption from property tax for registered companies in FIZ Georgia.
  • No VAT or import tax on goods imported into the FIZ.
  • No VAT on transactions between companies registered in the FIZ.
  • If the conditions established by the Tax Code of Georgia are met, the company's profits may be exempt from corporate tax.
  • No restrictions on the repatriation of capital.

The Georgian government has pledged to launch the Common Reporting Standard (CRS) throughout 2023. The government believes that introducing CRS will increase the country's budget, as it helps identify the income of taxpayers who have previously evaded the introduction and payment of taxes. Georgia will join 113 countries that have already implemented automatic exchange.

Frequently Asked Questions about the Georgia Crypto License

Is trading cryptocurrencies legal in Georgia?

Georgia does not recognize cryptocurrency as an official means of payment, but at the same time, it favors the development of this type of activity in the country. At the moment, the local cryptocurrency sector is supervised but not regulated. You need to open a cryptocurrency license in Georgia for legal cryptocurrency activities.

What is the Georgian Cryptocurrency Industry Law?

Georgia still needs to have a separate law regulating cryptocurrencies. However, in June 2019, the Minister of Finance issued a public Decision N201, which contains the definition of crypto assets and tax interpretation. This bylaw is the only regulation that controls cryptocurrencies in Georgia.

How much does a crypto license cost in Georgia?

The state fee for a Georgian crypto license is currently about 10,000 USD.

Do I need to apply for a crypto exchange license in Georgia?

To obtain a crypto exchange license in Georgia, you must register a company, collect a package of corporate documents, fulfill the requirements, and apply for a permit.

Why should you mine cryptocurrency in Georgia?

Cryptocurrency mining in Georgia can be profitable due to relatively low electricity costs and the availability of affordable computing equipment. In addition, there is no tax on income from cryptocurrency mining in Georgia.
Message sent successfully
We will read your message shortly. And we will try to answer you as soon as possible.