Crypto Exchange License Georgia Crypto License: Crypto Exchange License Georgia: Complete Guide for 2026

Georgia has emerged as a competitive jurisdiction for crypto businesses, offering a straightforward licensing framework under the National Bank of Georgia (NBG). As of 2026, the country provides a clear path for virtual asset service providers (VASPs) with no minimum capital requirement and a favourable tax regime. This guide covers everything you need to know about obtaining a crypto exchange license in Georgia, including costs, timeline, and compliance.

Whether you are launching a new exchange or expanding from another market, Georgia's regulatory environment balances innovation with oversight. Consulting24 advises and coordinates the licensing process, helping you navigate the requirements efficiently. Our team has assisted over 500 crypto firms globally, and we bring that expertise to your Georgia application. For a faster alternative, consider Panama where we deliver directly at a flat EUR 6,000.

What Is the Georgia Crypto Exchange License?

The Georgia crypto exchange license is a regulatory authorisation issued by the National Bank of Georgia (NBG) under the Law on the Facilitation of the Development of the Capital Market and the Law on Anti-Money Laundering. It allows companies to provide virtual asset exchange services, including trading between crypto and fiat, crypto-to-crypto exchanges, and custodial wallet services. The regime applies to both legal entities registered in Georgia and foreign companies establishing a local presence.

Georgia's approach is principles-based, focusing on AML/CFT compliance rather than prescriptive capital rules. This makes it an attractive option for startups and established firms alike. The license is valid for an indefinite period, subject to ongoing supervision by the NBG. Unlike EU member states under MiCA, Georgia does not impose capital tiers based on service class. Instead, the NBG evaluates each applicant's risk profile and operational plan. This flexibility can be advantageous for smaller firms that might struggle with the EUR 50,000 minimum capital required in the EU for certain services.

For example, a crypto-to-crypto exchange with no fiat handling may face lower scrutiny than a full fiat on-ramp. The NBG also considers the applicant's experience, the strongness of AML controls, and the transparency of beneficial ownership. Consulting24 can help you prepare a tailored application that meets these criteria.

Who Needs a Georgia Crypto License?

Any business offering virtual asset services in or from Georgia must obtain a license from the NBG. This includes:

• Crypto exchanges (fiat-to-crypto and crypto-to-crypto)
• Over-the-counter (OTC) trading desks
• Custodial wallet providers
• Payment processors using virtual assets
• Brokerage services for digital assets
• ATMs that exchange virtual assets

Foreign companies targeting the Georgian market or serving Georgian residents also fall under the licensing obligation. Even if your operations are remote, you may need a license if you have a physical presence or target customers in Georgia. For instance, a European exchange that opens a marketing office in Tbilisi would likely need to register. Consulting24 can help you assess whether your business model requires licensing. If you are unsure, we recommend a preliminary assessment to avoid regulatory risks.

Entities that only provide non-custodial software or blockchain infrastructure may be exempt, but this is determined on a case-by-case basis. The NBG has published guidelines on what constitutes a VASP, and we can help you interpret these for your specific case.

License Type & Regulator

The sole regulator for crypto licensing in Georgia is the National Bank of Georgia (NBG). The license is categorised as a Virtual Asset Service Provider (VASP) license. There is no distinction between exchange and wallet licenses; the same authorisation covers both activities. The NBG oversees compliance with AML/CFT regulations, consumer protection, and operational standards.

Unlike EU member states under MiCA, Georgia does not impose capital tiers based on service class. Instead, the NBG evaluates each applicant's risk profile and operational plan. This flexibility can be advantageous for smaller firms that might struggle with the EUR 50,000 minimum capital required in the EU. The NBG also does not require a local office or director, though having a local representative can facilitate the process. The regulator is known for its pragmatic approach, but it expects high standards of AML compliance. Consulting24 has a strong track record of preparing applications that satisfy NBG requirements.

Cost & Timeline

The cost of obtaining a crypto exchange license in Georgia is relatively low compared to other jurisdictions. Below is a summary of typical fees and timelines. Exact pricing depends on your business model and should be confirmed in a consultation.

The licensing process typically takes 2 to 4 months from submission to approval. This includes document preparation, AML policy drafting, and NBG review. Consulting24 coordinates the entire process to ensure timely submission. For comparison, Panama offers a flat EUR 6,000 fee and a faster timeline of 1-2 months, but without a dedicated crypto regulator. If you need EU passporting, consider Lithuania or Estonia, though costs are higher.

To give a concrete example, a typical startup exchange might spend EUR 5,500 on legal and application fees, plus EUR 1,000 for bank account setup, totalling EUR 6,500. The NBG application fee is non-refundable, so it is critical to get the documentation right the first time. Consulting24's pre-submission review helps avoid costly resubmissions.

Capital Requirement

Georgia does not impose a statutory minimum capital requirement for crypto license applicants. However, the NBG expects the company to have sufficient financial resources to cover operational costs and AML compliance for at least the first year. In practice, most applicants maintain a capital of around EUR 10,000 to EUR 20,000 to demonstrate financial stability.

This is a significant advantage over EU jurisdictions where minimum capital starts at EUR 50,000 (for exchange services under MiCA). For startups and small exchanges, Georgia offers a lower barrier to entry while still maintaining regulatory oversight. The capital can be held in a Georgian bank account or a reputable foreign bank. The NBG may request proof of funds during the application process, so you should have documentation ready. Consulting24 advises clients on the appropriate capital level based on their business plan.

Tax Treatment

Georgia offers a highly favourable tax environment for crypto businesses. Corporate income tax is 15%, but only on distributed profits (retained earnings are tax-free). Additionally, transactions involving virtual assets are exempt from VAT (0% rate). Personal income tax on crypto gains for individuals is 20%, but corporate entities can benefit from the retained earnings exemption.

There is no specific crypto tax law; general tax principles apply. The NBG and the Revenue Service have issued guidance confirming that crypto-to-crypto trades are not subject to VAT. This clarity makes Georgia one of the most tax-efficient jurisdictions for crypto exchanges in Europe. For example, if your exchange earns EUR 1 million in trading fees and reinvests all profits, you pay zero corporate tax. Only when you distribute dividends does the 15% tax apply. This is a powerful incentive for growth-stage companies.

Compared to Panama, which also offers 0% tax on offshore income, Georgia requires a physical presence but provides a clear regulatory framework. In contrast, EU countries like Lithuania impose 15% corporate tax on all profits and 21% VAT on fees, making Georgia more attractive for tax planning.

Allowed Activities

Under the Georgia VASP license, you are permitted to conduct the following activities:

• Exchange between virtual assets and fiat currencies
• Exchange between one or more forms of virtual assets
• Transfer of virtual assets
• Custodial wallet services
• Participation in and provision of financial services related to an issuer's offer or sale of a virtual asset

The license does not cover derivatives, securities tokens (unless separately regulated), or banking services. If you plan to offer margin trading or staking, additional analysis is needed. The NBG may require a separate license for security tokens if they qualify as securities under Georgian law. For staking, if it involves custody, it is generally covered. Consulting24 can advise on the scope of permitted activities for your specific business model. We also help you structure your operations to stay within the license boundaries.

Step-by-Step Application Process

The process to obtain a Georgia crypto license involves several stages. Consulting24 coordinates each step to ensure a smooth application.

1. Company incorporation - Register a legal entity in Georgia (LLC is typical). This takes 1-2 weeks. You will need a local registered address and a director (can be a foreigner).
2. Document preparation - Draft AML/KYC policies, business plan, risk assessment, and internal controls. This requires 2-4 weeks. The AML policy must align with FATF recommendations and include customer due diligence, transaction monitoring, and reporting procedures.
3. Submission to NBG - File the application with supporting documents. The NBG reviews within 30 days, but may request additional information. Common requests include clarification on source of funds for beneficial owners and proof of technical infrastructure.
4. NBG review & approval - The regulator conducts a thorough assessment, including background checks on beneficial owners. This phase takes 1-2 months. The NBG may also interview the compliance officer.
5. License issuance - Once approved, the license is issued. You can then commence operations. You must also register with the Revenue Service for tax purposes.

Total timeline: 2-4 months. Consulting24 handles all communication with the NBG to expedite the process. We also provide templates for AML policies and business plans to speed up preparation.

Banking & Payment Partners

Opening a business bank account in Georgia for a crypto company can be challenging, but several banks are crypto-friendly. TBC Bank and Bank of Georgia are the largest and have dedicated crypto onboarding processes. They require a valid license and a detailed business plan. Some international payment processors like Payoneer and Wise also support Georgian companies, though they may have restrictions on crypto-related transactions.

For fiat on/off ramps, you can integrate with local payment gateways or use correspondent banking. Consulting24 can introduce you to banking partners that accept crypto businesses. We also advise on alternative payment solutions if traditional banking is not viable, such as using e-money institutions or partnering with a licensed payment processor. It is advisable to open the bank account in parallel with the license application to avoid delays. The NBG may ask for proof of banking arrangements before issuing the license.

Benefits of a Georgia Crypto License

Georgia offers several advantages for crypto exchanges:

• No minimum capital - Lower entry barrier compared to EU jurisdictions.
• Fast processing - 2-4 months, faster than many European regulators.
• 0% VAT on crypto - Tax-efficient for trading volumes.
• Low corporate tax - 15% only on distributed profits.
• Geographic location - Bridge between Europe and Asia, with access to emerging markets.
• Stable regulatory environment - NBG is predictable and transparent.
• No local director requirement - Foreigners can manage the company remotely.

These benefits make Georgia a strong contender for your licensing strategy, especially if you are comparing it with Panama or other jurisdictions. For a comprehensive comparison, see our jurisdictions page.

Compliance & Ongoing Obligations

After obtaining the license, you must comply with ongoing AML/CFT requirements. This includes appointing a local AML officer, conducting regular risk assessments, and reporting suspicious transactions to the Financial Monitoring Service of Georgia. Annual audits and financial reporting to the NBG are also mandatory. The NBG may conduct on-site inspections to verify compliance.

Failure to comply can result in fines or license revocation. For example, missing a suspicious transaction report deadline can lead to a penalty of up to GEL 50,000 (approx. EUR 15,000). Consulting24 provides ongoing compliance support to ensure you meet all obligations. Note that this is general guidance and not legal advice; you should engage local counsel for specific compliance matters. We also offer AML training for your staff and help you set up transaction monitoring systems.

Common Mistakes to Avoid

Many applicants face delays or rejections due to avoidable errors. Common pitfalls include:

• Incomplete or poorly drafted AML policies - The NBG scrutinises these closely. Use FATF-aligned templates and ensure they are specific to your business model.
• Unclear source of funds for beneficial owners - Provide full documentation, including bank statements and proof of wealth.
• Underestimating the time needed for document preparation - Start early and allocate at least 4 weeks for this phase.
• Choosing an unregistered local agent - Only work with reputable partners. Consulting24 vets all local providers.
• Ignoring tax registration - Ensure you register with the Revenue Service immediately after incorporation.
• Not having a local bank account ready - The NBG may ask for proof of banking arrangements.

Consulting24 helps you avoid these mistakes by preparing a strong application package from the start. We conduct a pre-submission audit to catch any issues before they reach the regulator.

Alternatives: Georgia vs Panama and Other Jurisdictions

When choosing a licensing jurisdiction, compare Georgia with other popular options. Below is a quick comparison with Panama and Lithuania.

Georgia offers a balance of low cost and regulatory clarity. Panama is faster and cheaper but lacks a dedicated regulator. Lithuania is more expensive but provides EU passporting under MiCA. Your choice depends on your target market and budget. Consulting24 advises on all these jurisdictions. For a deeper dive into Panama, see our cost page and requirements page.

Why Choose Consulting24 for Your Georgia License?

Consulting24 has extensive experience in crypto licensing across multiple jurisdictions, including Georgia. We advise and coordinate the entire process, from company incorporation to NBG submission. Our team includes legal experts, AML specialists, and former regulators who understand what the NBG expects. We have helped over 500 crypto firms obtain licenses worldwide, and we bring that expertise to your Georgia application.

Our service includes a full compliance review, document drafting, and ongoing support after license issuance. We also offer a fixed-fee package for Georgia licensing, which covers all professional fees except government charges. Contact us via WhatsApp or book a consultation to discuss your project. We will provide a tailored quote and timeline within 24 hours.

Official sources

• National Bank of Georgia

Related jurisdictions

Mardo Soo · CEO, Consulting24Personally advises on jurisdiction selection. 500+ crypto licenses across Estonia, Lithuania & Panama. LinkedIn →

General guidance, not legal advice. Rules and fees evolve — we confirm current requirements for your case.