Obtaining a banking license in Georgia is one of the most complex, labor-intensive, and highly regulated processes. The National Bank of Georgia (NBG) sets the highest standards for entrants to the banking sector to ensure financial system stability. Obtaining a license involves more than just filling out an application; it is a multi-stage process involving detailed scrutiny of the business model, source of capital, management team qualifications, and IT infrastructure. Recently, a "Digital Bank" licensing model was introduced, opening opportunities for fintech companies. This service involves full legal and consulting support for license applicants, from preparatory work to obtaining the final license.
What Does the Bank License Application Service Cover?
Banking law experts on our platform offer a comprehensive service package:
- Preliminary Consultation and Structuring: Assessing the business model, selecting the license type (traditional vs. digital), and setting up the corporate structure.
- Documentation Preparation: Drafting founding documents, business plans, strategic development plans, and internal policies (credit, risk, AML).
- "Fit and Proper" Tests: Verifying and documenting compliance of administrators and significant shareholders with eligibility criteria.
- Capital Verification: Confirming the authorized capital (minimum 50 million GEL) and the legality of its origin.
- Communication with NBG: Representation at the NBG during all stages of application review, answering questions, and rectifying deficiencies.