AdamSmith Law Firm is your professional partner in the process of obtaining a cryptocurrency license in Georgia. Georgia has an advanced regulatory environment and is an ideal place to establish a cryptocurrency business. Our experienced legal team provides end-to-end support to ensure a smooth and efficient licensing process.
Cryptocurrency licenses show customers and investors that your business is legitimate and trustworthy.
Protect your business
A license ensures you meet legal standards and protects your business from fines or going out of business.
Entering new markets
With licenses, you can do business in more markets and build better partnerships.
Why Choose Georgia for Cryptocurrency Business?
Progressive Regulation
Georgia has established a clear and favorable legal framework for cryptocurrency businesses, making it a major destination for cryptocurrency businesses.
tax preference
Georgia offers substantial tax benefits, including a zero tax rate on reinvested profits and a favorable corporate income tax rate.
No minimum capital requirements
Unlike many jurisdictions, Georgia does not set minimum capital requirements, which allows start-ups and small businesses to take advantage of Georgia as well.
Strategic location
Georgia is located at the crossroads of Europe and Asia, with excellent access to global markets and a favourable business environment.
Encryption License Types in Georgia
Cryptocurrency Exchange License
The license is ideal for businesses that operate cryptocurrency exchanges and facilitate the buying and selling of digital assets.
Crypto Wallet License
Aimed at companies that offer wallet services that enable users to securely store and manage their cryptocurrencies.
Detailed licensing procedures
Document preparation
Collect and prepare all necessary documents including identification of shareholders and directors, utility bills, resume and detailed business plan.
Company Registration
Register a company in Georgia, including the preparation of all company documents.
Permit Application
Submit the application to the National Bank of Georgia with all necessary documents and state fees.
Opening a company account
Assist in selecting a suitable bank or electronic money institution (EMI) to open a corporate account, taking into account the institution's risk appetite and collecting the necessary documentation.
Compliance Implementation
Ensure that your business implements robust anti-money laundering (AML) and counter-financing of terrorism (CFT) measures and complies with the relevant Georgian regulations.
Local office setup
Establishment of a physical office in Georgia and appointment of a local supervisor by law.
The cost of obtaining a cryptocurrency license in Georgia:
Standard Package
$14 900
Legal advice
Company Registration
Get a Cryptocurrency License
Premium Package
$19 900
Includes all standard package services
Implementation of Anti-Money Laundering Policy
Assist in establishing payment accounts
Premium Package
$26 900
All Services in the Premium Package
Accounting Support and Reporting
Organizational Efficiency Consulting
Requirements to get an encryption license in Georgia
Business Plan
A detailed business plan outlining your company's goals, strategy, and financial projections.
Anti-Money Laundering/KYC Policy
Implement robust Anti-Money Laundering (AML) and Know Your Customer (KYC) policies to ensure compliance with Georgian regulations.
Local presence
Must have a physical office and local supervisor in Georgia.
financial solvency
Demonstrate the financial capabilities of the company's operations.
Legal documents
Directors and beneficiaries have no criminal record, proof of source of funds, and comply with all legal requirements.
Steps in the licensing process
Initial consultation
Discuss your business goals and specific licensing needs with our experts.
Preparing documents
Assist in the preparation of all necessary documents, including your business plan, co-founder's identification documents, and compliance policies.
Establishment of a company
Guide you to legally register a company in the state of Georgia.
Submit Application
Prepare and submit license applications to the National Bank of Georgia.
Account Settings
Assist in opening a corporate bank account at the appropriate bank or EMIs to facilitate your business.
Compliance Implementation
Ensure that your business meets all AML/CFT compliance requirements and secure transaction protocols.
Ongoing support
Provide ongoing support to maintain compliance and operational efficiency.
Frequently Asked Questions (FAQ)
What is an encryption license in Georgia?
Georgia's cryptocurrency license allows businesses to legally operate cryptocurrency-related activities such as exchanges and wallet services under a clear regulatory framework.
Why apply for a cryptocurrency license in Georgia?
Georgia offers favorable regulations and tax benefits, and no minimum capital requirements, making it an attractive destination for crypto businesses.
What types of cryptocurrency licenses are available in Georgia?
There are two main types: cryptocurrency exchange licenses are for businesses that operate cryptocurrency exchanges, and cryptocurrency wallet licenses are for businesses that provide wallet services.
Who needs an encryption license in Georgia?
Any business involved in activities such as cryptocurrency trading, exchange or providing wallet services will need to obtain a cryptocurrency license to operate legally.
What documents are required to apply for a cryptocurrency license?
The required documents include identification of shareholders and directors, utility bills, resumes, detailed business plans, proof of funding sources, and no criminal records of directors and beneficiaries.
Is there a minimum capital requirement?
No, Georgia does not have a minimum capital requirement, which allows start-ups and small businesses to take advantage of Georgia as well.
What are the tax benefits for cryptocurrency businesses in Georgia?
Georgia offers substantial tax benefits, including a zero tax rate on reinvested profits and a favorable corporate income tax rate.
Do I need to set up a physical office in Georgia?
Yes, a physical office is required to obtain an encryption license in Georgia.
Is it necessary to appoint a local director?
Yes, in Georgia, appointing at least one local supervisor is a requirement to get a crypto license.
How long does the licensing process take?
This process usually takes several weeks to several months, depending on the complexity of the application and the completeness of the documents submitted.
Can Foreign Citizens Apply for a Cryptocurrency License in Georgia?
Yes, foreign citizens can apply for a crypto license in Georgia as long as they meet all regulatory requirements and submit the necessary documents.
What is the AML/KYC policy?
AML (Anti-Money Laundering) and KYC (Know Your Customer) policies are measures to ensure that businesses comply with regulations designed to prevent money laundering and the financing of terrorism.
What are the costs associated with obtaining a cryptocurrency license?
Costs vary depending on the complexity of the application and the level of support required. AdamSmith law firms offer personalized offers after initial consultation.
Can AdamSmith help you register your company?
Yes, Rengang Yongsheng Rengang Yongsheng Law Firm provides comprehensive company registration services as part of the cryptocurrency licensing process.
What happens if regulation changes?
Rengang Yongsheng Rengang Yongsheng Law Firm provides continuous support to ensure that your business always complies with any new regulations, and provides guidance and assistance to adapt to changes.
Need some help?
Connect with our licensing experts to discuss a solution tailored to your business. We will provide you with a personalized offer within 1 hour of the working day.
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