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Valsen Corporate

Georgia Forex License

Georgia Forex License

The Republic of Georgia offers a liberal forex business environment becoming one of the most attractive forex business destinations globally. Forex companies are registered and supervised by the National Bank of Georgia. Key Features
  • The forex company can be registered in the free zone. The free zone license fee is USD 6,000 and the company is restricted to only have foreign clients. The choice of whether to register in the free zone is made prior to registration. A company cannot later move to free zone.
  • Minimum Capital: There is no minimum capital to set up a forex company in Georgia.
  • Payment of Capital: Whatever the amount of capital you register your company with there is no obligation to pay the capital immediately. Sais you register the company with a capital of 50,000 Euros. You need to show the capital was paid in the next balance sheet. So all the expenses incurred during the year can be reconciled as capital.
  • As forex companies are under the supervision of the National Bank of Georgia it is recommended to register the company with a paid up capital of 100,000 Gel (40,000 Euros) to 150,000 Gel (60,000 Euros) minimum.
  • Local Director: No obligation to have a local director
  • Local Office: You need a lease agreement for a local address 2500 USD per year
  • Local Employees: There are no requirement of having local employees but here again as you are under the supervision of the central bank it would be better to have at least an accountant maintaining updated accounts and a compliance officer handling KYC and AML. Those services can be outsourced.
Legal Requirements

Requirements

Description

General
  • Corporate  vehicle permitted

Georgian Company
  • License application fee

USD 6,000
  • Annual license fee

USD 6,000
  • Local physical office required

Yes

Share capital or equivalent
  • Minimum paid up capital

None

Directors
  • Minimum number

2
  • Corporate directorship allowed

Yes
  • Local director required

No

Shareholders
  • Minimum number
 2
  • Corporate shareholder allowed

Yes
  • Local shareholder required

No

Service Providers Required
  • Company secretary

Yes
  • Auditor

Yes
  • Legal adviser

Yes
Tax Treatment There are two taxation options:
  • Normal Georgian Company: corporate income tax 15% on profits per year, Vat 18%
  • Free Zone: full tax exemption
Duration to Set Up Around 4 weeks Distinctive Benefits of Licence
  • Sound banking sector
  • Fast turnaround time
  • License is issued by the National Bank of Georgia, reinforcing the strength of its regulatory framework
  • Friendly regulatory regime for asset protection
  • Low costs of operation
  • No minimum capital requirement
The Valsen Advantage
  • End to end comprehensive service
  • Speedy and efficient service
  • Expert advice on structuring options
  • Dedicated ongoing compliance support
  • Extensive network pool of service providers