Anyone who already holds a personal account in Georgia regularly underestimates the business one. It is not a second account of the same kind but a separate review with one additional question: what does this company actually do?
What is required on top
| Requirement | Personal account | Business account |
|---|---|---|
| Identity | of the individual | of the individual AND the signatories |
| Registry documents | registry extract and tax number of the entity | |
| Source of funds | of the funds to be deposited | plus the origin of the initial capital |
| Business model the real additional hurdle | activity, counterparties, expected flows and countries |
Preparation
- Registry extract and tax number of the entity in hand
- Signatories named and identifiable
- Activity, counterparties and target countries explainable in three sentences
- Origin of the initial capital evidenced
- Presenting a company with no visible activity
- Naming flows you do not actually expect
Why applications fail and what improves a profile is set out at length in Why Georgian banks refuse.
Business account — frequently asked
Can I use my personal account for business?
With a sole trader the business is legally tied to you, so income may flow into an account you own. It is still not advisable: a clean separation makes the bookkeeping cheaper and makes the record provable in an audit at all.
Does the bank want a business plan?
Not a formal document, but a solid description: what you do, for whom, at what expected amounts, and which countries the payments come from. Anyone who cannot say that in three sentences should postpone the appointment.
Can the bank close a business account later?
Yes. Where actual use visibly departs from what was described — other countries, other magnitudes, other counterparties — a query usually follows and, in case of doubt, termination. So the description should be accurate rather than flattering.
Can it be opened remotely?
Often yes, by notarised power of attorney. The bank decides case by case, though, and can insist on attendance in person, particularly where the profile raises questions.
This article is general information and does not constitute legal or tax advice. The decision on an account opening rests with the bank; requirements change continuously. As at August 2026.
Sources
Every legal statement in this article is backed by the primary source listed below.
- National Bank of Georgia — banking supervision — supervisory framework for due diligence
- National Agency of Public Registry (NAPR) — registry extract as the basis for tying the account to the entity