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Georgia E-Wallet License

Starting Offshore > Georgia E-Wallet License

Brief Overview:

The Republic of Georgia is strategically located between Europe and Asia and thanks to the rapid development of the national and regional infrastructure and communications, Georgia is becoming increasingly integrated globally.

This license authorizes the following activities. See the Business Activities Definitions for a full list and description of the activity. To ensure that you are applying for the right license, please review the definitions under O.C.G.A. ยง 7-1-680 and evaluate your business model to select the appropriate Money Transmitter or a Seller of Payment Instruments license.

  • Electronic money transmitting
  • Bill paying
  • Bi-weekly payment processing services

Application Process:

In order to obtain a E-Wallet License the applicant will have to submit a detailed curriculum vitae about each person involved in the company as well as the following documents for each beneficial owner, director, shareholder and officer of the company:

  • Notarized passport copy with apostille (passport must still be valid for at least 6 months)
  • Police Clearance Certificate / Certificate of Conduct (if not in English, then certified translated into English) with apostille; not older than 30 days
  • Personal CV.
  • 2 name suggestions for your company name
  • Proof of address – if not in English then certified translated into English

Advantages :

  • The Republic of Georgia has not signed any of the tax automatic exchange of information yet and should not sign them in a near future. Furthermore it has a good bank secrecy
  • If you are looking for a bank destination for Asset Protection purpose that still respect your privacy then the Republic of Georgia is definitively the place to go.
  • Applicants can benefit of some of the most liberal banking and e-money processing laws worldwide, especially in on-boarding foreign customers and payment flows
  • Georgia is NOT member of the European Union but adapted certain parts of European regulation and legislation; but kept their own local laws in order to protect the domestic financial industry to avoid over-regulation
  • Georgian banks are the most flexible in customer support, service, fees, compliance issues in the Middle East and Europe Banks are connected to the IBAN Network and fully SWIFT Members (no intermediary banks needed for your customers to send you funds!
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