Crypto license in Georgia

Registration regimeLast reviewed 2026-08-24

Do you need a crypto license in Georgia?

Yes, registration with the National Bank of Georgia is required, and the single most expensive mistake here is assuming a Free Industrial Zone company avoids it. The zones grant tax exemptions, not regulatory ones, and the National Bank has been finding unregistered operators inside them.

Read this before you plan an application

A Free Industrial Zone licence is a tax instrument, not a regulatory exemption. A zone company providing virtual asset services must still register with the National Bank of Georgia, and operating without registration risks fines, closure and frozen accounts.

Georgia is marketed on two things at once, and only one of them is true. The tax story is real: a company in the Tbilisi, Kutaisi or Poti Free Industrial Zone is exempt from profit tax, VAT, import duty and property tax. The regulatory story sold alongside it, that a zone company therefore sits outside financial supervision, is not. The National Bank of Georgia has run a virtual asset service provider registration regime since 1 July 2023, it applies to zone companies exactly as it applies to mainland ones, and the National Bank has repeatedly identified firms operating in the zones without it. From 1 January 2026 an amendment requires firms to evidence their registration on demand.

Regime: Registration regime
Regulator: National Bank of Georgia (NBG)
Time to license: The National Bank has a 60 day decision window, extendable once by a further 60 days, so a straightforward application is measured in months rather than the year or more that several jurisdictions here require.
Foreign owners: Non-residents may own and direct a Georgian applicant, and foreign ownership is common in both the mainland and the free zone routes. Registration is required either way.

The registration

The National Bank of Georgia registers virtual asset service providers. It is a registration rather than a licence, which sets a lower bar than most of the jurisdictions in this comparison, and the regime has been in force since 1 July 2023. There is no minimum share capital for a limited liability company applicant.

The Free Industrial Zone trap

This is the part worth reading twice, because getting it wrong is how founders here end up with frozen accounts.

Georgia's Free Industrial Zones offer a genuinely unusual tax position: full exemption from profit tax, dividend tax, VAT and property tax. That draws crypto businesses, and a large marketing industry has grown around the zones.

What that marketing frequently implies, and what is false, is that zone status replaces or excuses financial regulation. It does not. A zone company carrying on virtual asset services is legally required to register with the National Bank and to comply with anti-money-laundering obligations in full. The National Bank has said so publicly, and has been identifying individuals and companies operating without registration, including inside the zones. An amendment in force from 1 January 2026 requires virtual asset firms to produce proof of registration on request.

Operating unregistered is not a technicality. It exposes the business to administrative fines, forced closure, frozen corporate accounts, and in some circumstances personal liability for founders and directors.

Which route fits

A mainland Georgian company registered with the National Bank can serve Georgian residents and offer fiat to crypto services. A zone company operates on a narrower footing, oriented to business customers and crypto to crypto activity rather than the domestic retail market, and it still registers.

What to watch

Georgia's appeal rests on a low regulatory bar next to a very low tax bill. The bar has been rising through enforcement rather than through new legislation, which is harder to see from outside. Read the National Bank's own notices rather than a zone operator's brochure.

What the application requires

Georgian legal entity, commonly a limited liability company
Registration with the National Bank of Georgia as a virtual asset service provider
Anti-money-laundering and counter-terrorism financing compliance programme
Ability to evidence registration on request, under the amendment in force from 1 January 2026
No minimum share capital for a limited liability company applicant

The application process

Incorporate
Register a Georgian company, on the mainland or in a Free Industrial Zone
Build the compliance file
Anti-money-laundering policies, officer, and governance documentation
Apply to the National Bank
File for registration as a virtual asset service provider
Decision
A 60 day window, extendable once by a further 60 days

Costs and taxation

The state registration fee is modest by the standards of this comparison and there is no minimum capital for a limited liability company. The real cost is anti-money-laundering compliance, which applies in full and is not reduced by zone status.

A mainland Georgian company is taxed on the Estonian model, meaning profit tax falls due on distribution rather than as profits accrue. A Free Industrial Zone company is exempt from profit tax, VAT and property tax, which is the zones' actual advantage.

Who is licensed today

The National Bank of Georgia maintains the register of virtual asset service providers, and has publicly urged people not to deal with unregistered entities. Checking a counterparty against it is the point of the register existing.

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Frequently asked questions

Does a Georgian Free Industrial Zone company need a crypto licence?

Yes. Zone status grants tax exemptions, not regulatory ones. A zone company providing virtual asset services must register with the National Bank of Georgia like any other.

Do I need a licence to run a crypto business in Georgia?

You need registration with the National Bank of Georgia as a virtual asset service provider. It is a registration regime rather than a licensing one, in force since 1 July 2023.

How long does Georgian VASP registration take?

The National Bank has a 60 day decision window, which it can extend once by a further 60 days.

What happens if I operate in Georgia without registering?

Administrative fines, forced closure, frozen corporate accounts, and in some cases personal liability for founders and directors.

What is the tax position for a Georgian crypto company?

A mainland company pays profit tax on distribution, on the Estonian model. A Free Industrial Zone company is exempt from profit tax, VAT and property tax.

Sources

Buying bitcoin as an individual is a different question entirely: how to buy bitcoin in Georgia covers exchanges, payment methods and legality for residents, and the crypto license hub compares every jurisdiction we track.