Crypto License in Georgia

Crypto License in Georgia

Last Update: 18.03.2026

A crypto license in Georgia confirms that a blockchain or digital asset business operates in compliance with local law, strengthens credibility among counterparties, and supports the lawful development of the company in a regulated environment. Georgia has positioned itself as a favorable jurisdiction for technology-driven businesses by combining relatively low entry barriers, an innovation-oriented ecosystem, and a dedicated framework for virtual asset service providers.

Bergerslegal provides full legal support for obtaining a crypto license in Georgia, including company setup, document preparation, compliance structuring, and regulatory guidance throughout the licensing process.

Advantages of having a crypto license in Georgia

More fintech and crypto businesses are choosing Georgia due to its combination of regulatory clarity and practical business conditions.

Innovation-oriented business environment

Georgia supports blockchain and fintech development and has built an ecosystem where digital asset services, mining, and crypto infrastructure can grow in parallel with broader technology projects.

Accessible state fee

The government fee for filing a VASP application is relatively moderate, which makes the jurisdiction more accessible for startups and mid-sized operators.

Reasonable review timeline

The National Bank of Georgia generally reviews applications within a relatively manageable timeframe, although the process may extend where the regulator requests additional information.

Government support and ecosystem development

Georgia has introduced support mechanisms for technology and blockchain businesses, including grant support and tax advantages in certain zones such as Free Industrial Zones.

Tax efficiency

The Georgian tax model, particularly the treatment of reinvested profits and the potential benefits available in FIZ structures, is one of the main reasons why crypto businesses consider the jurisdiction.

Who needs a crypto license in Georgia

Since the VASP regime came into force, licensing is required for companies carrying out regulated virtual asset services, including:

• exchange of virtual assets for fiat currency;
• exchange of one virtual asset for another;
• digital asset custody and administration;
• virtual asset transfer services;
• organization of ICOs and STOs;
• operation of trading platforms;
• management of crypto portfolios.

At the same time, the source text indicates that miners and individual traders are generally outside the scope of the licensing requirement.

Requirements for applicants for a crypto license in Georgia

To obtain a Georgian crypto license, an applicant must satisfy corporate, regulatory, compliance, and technical requirements.

1. Registration of a legal entity

The VASP application must be submitted by a company registered as either:

• a Limited Liability Company (LLC); or
• a Joint Stock Company (JSC).

The entity must be registered through the National Agency for Public Registry.

2. Capital requirements

For an LLC, no minimum capital is generally imposed by the source text.
For a JSC, the minimum capital is 100,000 GEL, with at least 25% payable at registration.

3. AML/KYC compliance

The applicant must implement internal procedures addressing:

• anti-money laundering;
• counter-terrorist financing;
• record keeping;
• customer due diligence;
• suspicious transaction reporting.

4. Physical presence

A physical office in Georgia is required, supported by documentary evidence such as a lease agreement and related confirmations. At least one director must also be a resident.

5. Professional suitability of staff

Directors, compliance officers, and relevant managers must provide evidence of:

• professional qualification;
• work experience;
• appropriate business reputation;
• absence of criminal record.

6. Technical and data protection requirements

The application must include policies and procedures covering:

• customer data protection;
• information processing;
• transfer protocols;
• anomaly detection;
• secure storage of information.

7. Corporate bank account

A bank account in Georgia is required, and the source text identifies several banks that work with blockchain-related businesses.

Packages of services for crypto license in Georgia

Your source text contains service package information for incorporation and licensing assistance, but this is commercial package content rather than a legal-regulatory requirement. For publication purposes, it is more appropriate to separate this from the legal explanatory sections unless you want it kept as a dedicated pricing block for the website.

How to get a crypto license in Georgia

A crypto startup license in Georgia usually takes around 2 to 4 months, including corporate setup and regulatory preparation.

Step 1: Register the company

Before applying to the regulator, the business must determine:

• the company name;
• the legal form (LLC or JSC);
• the office arrangement;
• the resident manager or director.

A physical office is required, and co-working arrangements are not accepted under the source text.

Step 2: Collect and prepare documents

The key document package includes:

• articles of association;
• memorandum of incorporation;
• shareholder resolutions;
• certificate of registration;
• identity documents of directors and shareholders;
• proof of residence;
• CVs and qualification records;
• business activity description and forecasts;
• AML/KYC documentation;
• technical and IT documentation.

Step 3: Submit the application to the NBG

Before submission, the applicant must pay the required state fee. The National Bank of Georgia then reviews the application and decides whether to issue or deny the license.

Step 4: Post-licensing obligations

Once licensed, the company must continue to comply with reporting obligations, including:

• annual financial statements;
• customer verification and suspicious transaction reports;
• anti-fraud reports;
• transaction volume reports.

Crypto regulation in Georgia

Georgia’s crypto regulatory system has developed rapidly since the introduction of the formal VASP framework.

The key legal and regulatory basis includes:

Law on the Registration of Virtual Asset Service Providers

This law established the formal framework for VASPs and placed regulatory supervision under the National Bank of Georgia (NBG).

Decree No. 94/04 of June 13, 2023

This decree set out operating criteria for VASP providers, fit and proper requirements for managers, AML/KYC obligations, and restrictions such as a ban on anonymous coins.

Regulation on Fines of June 13, 2024

This introduced a sanction framework for violations of AML/KYC rules and breaches of licensed activities.

Parliamentary resolution of May 16, 2023

This designated VASPs as accountable entities and introduced thresholds for due diligence and enhanced due diligence.

The result is a more structured market with regulatory oversight aligned with international anti-money laundering principles.

Taxation of cryptocurrencies in Georgia

Georgia is often viewed as a tax-efficient jurisdiction for crypto-related business models.

Individuals

According to the tax position described in your source text:

• income earned by individuals from the supply of crypto assets is exempt from income tax;
• exchange of a crypto asset by individuals is exempt from VAT.

Companies

Corporate treatment differs from individual treatment. Crypto companies may be subject to tax on profits, including profits arising from crypto transactions.

A key feature of Georgia’s system is the Estonian model of taxation, introduced from January 1, 2017. Under this system, profits that are reinvested into the company are generally not taxed until distribution.

This means:

• 0% tax on reinvested profits;
• 15% tax on distributed profits.

FIZ benefits

Businesses operating in Free Industrial Zones may benefit from additional tax advantages, including exemptions in relation to:

• property tax;
• VAT and import tax for qualifying imports;
• VAT on qualifying transactions between FIZ companies;
• certain corporate tax outcomes where statutory conditions are met.

The jurisdiction also permits repatriation of capital without the restrictions often seen in other jurisdictions.

Overview of Crypto Regulation in Georgia

Comparison of tax rates for crypto companies in Georgia & Estonia

Conclusion

Since the introduction of the VASP regulatory framework, Georgia has become a promising jurisdiction for crypto exchanges, blockchain projects, custody providers, and other digital asset businesses. Its advantages include a developing innovation ecosystem, an accessible licensing process, tax efficiency under the distributed profit model, and a regulatory environment aligned with international standards.

At the same time, obtaining and maintaining a Georgian crypto license requires proper legal structuring, local substance, AML/KYC implementation, technical documentation, and ongoing reporting compliance.

Bergerslegal assists clients through every stage of the process — from company formation and preparation of the licensing package to regulatory compliance and post-licensing support.