Getting a VASP crypto licence in Georgia
The Virtual Asset Service Provider licence: exchanging, custodying and transferring crypto assets.
Price from
≈ $21,000
Best for
Financial licences (crypto, PSP)
Timeline
1–3 months
Tax
Corporate tax 15% (on distribution)
Format
Remote and in person
The realistic timeline is 6-8 months
The full cycle takes longer than the headline range: 4-6 weeks to prepare the documents, up to 60 days for the National Bank's first review, about a month to address comments and up to another 60 days for the second review. The final timeline depends on the quality of the documents and the number of rounds with the regulator.
What the service includes
| Registering the company as an LLC or a JSC | |
| Drawing up a 3-year business plan and financial model to the National Bank's requirements | |
| Preparing the AML/KYC/CTF policy based on Georgian law | |
| Collecting and legalising the pack on the director and beneficial owners | |
| Filing the application and support at every stage of the National Bank's review, including responding to comments on a refiling | |
| Obtaining VASP registration | |
| Help opening a bank account | |
| 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 |
What we need from you
- 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 state fee per application, refilings included
Frequently asked questions
Can a foreigner get a VASP licence?
Yes — there are no citizenship requirements: both individuals and foreign companies can apply and be founders without restriction.
Can I reuse an AML policy from another jurisdiction?
No. Policies adapted from the UAE, the EU or elsewhere don't meet Georgian legal requirements and, in practice, are one of the main reasons the National Bank refuses — the document has to be written from scratch for the local regulation.
How does a VASP differ from simply registering a crypto business without a licence?
An ordinary LLC without a VASP licence has no right to take deposits legally, act as a custodian or open a bank account as a regulated entity. If the business handles client assets — exchange, custody, transfers — the VASP licence is what's needed.
What happens if you operate without a licence?
A fine of up to GEL 20,000 for unlicensed virtual asset activity, plus the inability to open or keep a corporate account at a Georgian bank.
Financial licences (crypto, PSP): other options
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