Is this relevant to your company?
New Georgian IT entities and foreign owners preparing for bank onboarding.
- beneficial ownership
- business model and website
- contracts and counterparties
- source of funds
- expected currencies and transaction pattern
What the company or status is designed to do
Business registration does not guarantee bank account opening. Georgian banks perform independent KYC, beneficial-owner, activity, counterparty, source-of-funds and expected-transaction review.
A special status is useful only when the company’s day-to-day activity and records meet its conditions. We compare the proposed status with an ordinary Georgian LLC before recommending an application.
What to check for Banking for an IT Company in Georgia
New Georgian IT entities and foreign owners preparing for bank onboarding.
- beneficial ownership
- business model and website
- contracts and counterparties
- source of funds
- expected currencies and transaction pattern
Ordinary and special-status companies have different evidence burdens
A standard Georgian LLC can suit many operations. International Company, Virtual Zone and innovation/R&D statuses should be selected only where the real activity, people, history and documentation support the statutory treatment.
- Company registration and bank KYC are separate processes.
- Model profit, salary, dividends and VAT independently.
- Keep status-specific activity and substance evidence after approval.
- Check compatibility before combining or changing statuses.
What to send us first
You do not need to draft a charter, status application or legal memorandum yourself. Send the business facts and existing evidence; we prepare the legal and filing documents within the agreed scope.
Send us first
- Founder, shareholder and director passport details
- Existing Georgian company ID or foreign group documents
- Plain-language product, service and client-market description
- Approximate turnover, payroll and team information
- Any funding, IP, R&D, tax or prior-status evidence
We prepare or coordinate
- Compare an ordinary LLC with the realistic special-status options
- Prepare incorporation, governance or status-application documents
- Coordinate the tax, accounting, audit and translation work
- Manage filing, follow-up and post-approval requirements
Obtained or confirmed later
- Updated registry and tax certificates
- Audited or assurance reports where the status requires them
- GITA, Revenue Service or Government decisions
- Bank and operating records needed after registration
How the work usually proceeds
The exact order depends on the service and your documents. We confirm the steps and responsibilities before professional work begins.
- 01
model the activity and transaction flow
- 02
compare ordinary and special-status treatment
- 03
register the entity and tax accounts
- 04
prepare the status application and supporting file where applicable
- 05
maintain activity, substance, allocation and reporting evidence
How this may look in a real case
A newly formed software exporter prepares client contracts, founder background, product explanation and expected flows instead of presenting only the registry extract.
What can slow the process down
We check these points at the beginning and flag gaps before filing, so you can correct them while there is still time.
- A special status is selected for its headline rate before the actual activity and history are tested.
- The company cannot produce the required personnel, R&D, funding, IP or substance evidence.
- Routine and qualifying income or expenditure are not separated in the accounts.
- Banking, payroll, VAT and foreign-worker requirements are left until after registration.
A clear recommendation and a managed Georgian process
We compare the ordinary company and special-status options, prepare the agreed structure and coordinate the evidence and filing work.
ITResidency.ge is operated by ASSIO LEX & ASSOCIATES LLC, the Georgian legal and business-services provider for the engagement.
- Company and status eligibility review
- Formation or corporate changes
- Tax, audit and evidence coordination
- Application and post-approval compliance
Frequently asked questions
Can a foreign-owned company use Banking for an IT Company?
Foreign ownership is not automatically disqualifying, but every special status has its own activity, history, substance, finance and evidence conditions. The Georgian company’s real operations must satisfy them.
Can a newly incorporated company qualify immediately?
It depends on the status. Some routes require qualifying history, funding, previous-financial-year expenditure or an established foreign group. Company formation alone does not prove special-status eligibility.
Does the company status give shareholders or directors residence rights?
No. Company and tax status are separate from personal residence and work rights. Each foreign director, shareholder and employee needs an individual assessment.
What should we send for a status assessment?
Send the company extract, ownership and group structure, business and product description, client countries, contracts, approximate turnover, employee information, tax status and any status-specific funding, R&D or IP evidence.
Can ITResidency.ge prepare the company and status application?
Yes. We can compare the ordinary LLC and special-status options, form or update the company, prepare the evidence plan, coordinate accountants or auditors and manage the agreed application and follow-up.
