Georgia payment agency (PSP/EMI) license

Based on business essence, Mainly divided into payment service providers (PSP), Electronic Money Institutions (EMIs) and Virtual Asset Service Providers (VASPs), All are subject to legal supervision by the National Bank (NBG).

Payment institution registration and tax qualifications such as virtual areas are different matters. Whether you can enjoy specific income discounts must be judged based on actual activities and tax law conditions., The full 0% corporate tax on cross-border payment fees cannot be directly derived from PSP registration..

Applicants should demonstrate effective management in accordance with NBG payment business requirements, control and operational capabilities. The specific venue and management configuration should be checked according to the actual service, Virtual registration addresses cannot be lumped together with all remote technical jobs as an invalid application.

In addition to the paid-in initial statutory capital, Institutions must comply with the Capital Adequacy Ratio Requirements Ordinance starting from 2024, Ensure that self-owned funds are sufficient to cover the systemic risk assessment limit.

Mandatory requirements. All overseas materials and business brochures submitted to the National Bank of Georgia, All must be translated into Georgian by law, And accompanied by legal notarization or apostille..

Different regulatory frameworks apply. Virtual Asset Service Provider (VASP) specializes in crypto asset circulation; The PSP is aimed at legal currency and payment settlement business., The two compliance standards cannot be mixed..

Except for direct rejection, If you violate the regulations after obtaining the license, you will face heavy fines.. 2025Year, NBG has imposed fines of tens of thousands of lari on a number of licensed payment platforms that have loopholes in KYC and anti-money laundering processes in accordance with the law..

After preparing a complete set of Georgian translated and notarized documents in accordance with the law and submitting them to NBG, Combining substantive examination and compliance inquiries, The end-to-end statutory approval cycle typically requires 3 to 6 months.

From March 2026, Foreign executives must obtain the legal "right to work". In principle, companies need to prove that there are no qualified local talents, Only then can foreign personnel be legally introduced to perform their duties.

Yes. Licensed entities must pay statutory annual fees in accordance with the law, and pass 2023 The GIMS company portal system launched in 2017 completes continuous electronic compliance reporting.

Commercial Bank of Georgia implements highly prudent KYC for opening accounts with financial institutions. Applicants must produce a complete Compliance Manual (AML Policy), Physical office certificate and legal fund penetration report.

no the same. PSP payment service is different from the system for accepting bank deposits, Should be registered as NBG, Licensing and specific activity distinctions.

Can refer toSupervision and application information of the Georgian PSP payment institution licensing authority, Check corresponding systems and processing information.

Submitting an application or obtaining a principled opinion does not mean that you are officially allowed to operate.. Final authorization should be confirmed first, Licensing conditions and prerequisites for starting business; Technical testing should be distinguished from real client funds and regulated transactions.

New products first, Customer Category, A case-by-case comparison of capital flows and operating areas with existing registrations or authorizations. If it exceeds the scope or affects the applicable conditions, Corresponding changes should be completed, It will be launched after notification or separate application..

Outsourcing does not mean transferring the responsibilities of the licensed entity. It is recommended to clarify the scope of services, data access, audit, accident report, Re-sourcing and exit arrangements, and retain sufficient internal personnel to supervise suppliers.

Compare legal names, Registration or license number, Authorized business, Licensing conditions and actual website. Group brand, The identity of affiliated companies and agents cannot replace the authorization of the contracting entity., Should be cross-checked with official records and licensing documents.

Both may change the control relationship. Direct and indirect shareholdings should be identified before trading, Significant impact and changes in ultimate controller, Check approval or notification procedures, and write regulatory conditions into the delivery arrangements.

First check whether the license conditions are still met, Arrange temporary supervision, Business restrictions and handovers, and complete applicable personnel notifications or new hire approvals. Nominal substitutes cannot solve gaps in actual performance of duties.

It is recommended to record complaints, Products and people involved, Processing time limit, Evidence and conclusion, and inform customers of applicable upgrade channels.. Processes should be rectified when systemic problems are discovered, Instead of just closing a single ticket.

Can't judge like this. Also check the location of the customer, Marketing method, Local rules for branches and products; The applicable passport or notification mechanism only covers the scope specified in it..