Georgian banks perform their own risk-based review under AML/CFT supervision. Company registration, a legal address or an investment does not guarantee account opening at any bank.
What the bank is assessing
The bank looks at identity, beneficial ownership, ownership chain, activity, countries, counterparties, expected flows, source of funds and the economic purpose of the account. Answers should be documented and consistent; a generic business plan may not be enough.
Structure of the KYC package
Prepare a current extract and charter, director and owner IDs, ownership chart, website or product description, principal contracts or invoices, banking and tax evidence for source of funds, expected-transaction table and an explanation of Georgian economic nexus. Disclose the full foreign-company chain.
Interview and follow-up questions
The director should explain the business in their own words. A rehearsed answer disconnected from real operations undermines confidence. Answer follow-up requests fully, label files and explain figures and dates; resolve contradictions openly.
Refusal, another bank and reducing risk
A bank may not provide a detailed explanation of a commercial risk decision. One refusal does not automatically mean refusal everywhere, but sending the same incomplete file to many banks solves nothing. First review nexus, transaction countries, sanctions, source of funds and consistency.
After the account opens
KYC is ongoing. A major difference between expected and actual activity, a new country, ownership change or unexplained transfer can prompt review. Notify the bank appropriately of material changes and keep the economic basis for significant transactions.
Important noteThis material is general information, not personalised legal advice. Recheck current law, official practice, fees and deadlines against your facts before acting.