Getting a VASP crypto licence in Georgia
The Virtual Asset Service Provider licence: exchanging, custodying and transferring crypto assets.
The full cycle takes longer than the headline range: 4–6 weeks to prepare the documents and up to 60 days for the National Bank to decide. The regulator may extend the review by another 60 days, and gives the applicant 30 days to fix any shortcomings — while a request is open, the clock stops. The final timeline depends on the quality of the documents and the number of rounds with the regulator.
Financial licences (crypto, PSP) in Georgia: comparing the options
The difference is not the price — it is who each option suits. The “Best for” column is the business profile the option is built around.
| Option | Best for | Timeline | Price |
|---|---|---|---|
| Getting a VASP crypto licence in Georgiayou are here | Crypto exchanges and trading platforms entering the market through the Georgian jurisdiction, crypto exchangers and exchange kiosks, custody services and crypto wallets managing client assets | 1–3 months | from $345 |
| A payment service provider (PSP) licence in Georgia | A fintech startup launching a money transfer service or a digital wallet, a company that needs acquiring to take merchant payments, a provider of Open Banking solutions (payment initiation PIS, account information AIS) | 2–5 months | Upon consultation |
What the service includes
| Legal support and advice at every stage | |
| The documents and policies for the National Bank: the AML policy, the business plan, process diagrams | |
| Advice on choosing and integrating KYC/KYT providers | |
| Support through every round of correspondence with the National Bank | |
| For an offline business: advice on preparing the office | |
| Registering the company (an LLC or a JSC), if it doesn't exist yet— billed separately | |
| The application state fee (GEL 5,000 per filing, refilings included)— billed separately | |
| The company's share or start-up capital— billed separately | |
| Renting a physical office, if the review requires one— billed separately | |
| Opening a bank account — a separate service |
Documents and programme requirements
- 1A company in the form of an LLC or a JSC registered in Georgia
- 2A director or authorised representative with an economics education or experience in financial services or virtual assets
- 3At least one authorised representative present in Georgia for no fewer than 14 days a calendar month
- 4A business plan and financial projections for at least 3 years, evidencing a genuine centre of activity in Georgia
- 5An AML/CTF policy written for Georgian law
- 6Documented origin of the start-up capital
- 7Criminal record certificates for the management and beneficial owners
- 8A GEL 5,000 (≈$1,900) state fee per application, refilings included
How the process runs
1–3 months- Form and annexesThe VASP registration form goes to the National Bank with its annexes: the list of services, the administrator and shareholder forms, and the compliance table.
- Review of the packThe National Bank checks whether the documents meet the rule. If something falls short, the applicant gets 30 calendar days to fix it.
- Decision periodWhile the regulator waits for an answer to its request, the clock on the decision period stops.
- DecisionRegistration is granted by an administrative act naming the provider, its identification number, and the registration number and date. A refusal comes in writing, with reasons.
- Register entryThe data goes into the register of virtual asset service providers within two working days of the decision.
Frequently asked questions
Can a foreigner get a VASP licence?
Can I reuse an AML policy from another jurisdiction?
How does a VASP differ from simply registering a crypto business without a licence?
What happens if you operate without a licence?
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