Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the NBG decision, including banking and payment rails.
Get an investment license in Georgia.
The Caucasus bridge with an Estonian tax system: a brokerage company licence from the National Bank of Georgia under the Securities Market Law - securities operations and related foreign exchange, capital per NBG regulation, incorporation in days and a licence in months, with 0% tax while profits stay in the business.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Georgia in brief
The reform state that lets profits compound.
Georgia licenses securities intermediaries through the National Bank, which absorbed capital-market supervision and now runs it alongside banking. The instrument is the brokerage company licence under the Law on the Securities Market: a licensed legal entity may operate in shares, bonds, certificates, promissory notes and other securities, with related foreign exchange inside the perimeter. Capital and prudential conditions follow NBG regulation and are confirmed against the current rules at filing; the Bank publishes a roadmap for applicants and decides in months rather than years. Incorporation itself takes days - Georgia has spent two decades making company formation genuinely fast.
The commercial case is the tax system paired with the position. Georgia runs the Estonian model: 0% corporate tax on retained profits, 15% only when profit is distributed, with a 5% dividend withholding above it and financial services exempt from the 18% VAT. A brokerage that reinvests compounds untaxed. Geographically it sits between Turkey, the Caucasus and Central Asia, with 55+ treaties, a liberal currency regime and English widely used in the professional market. For firms serving regional clients, Turkish and CIS-adjacent flows, or simply wanting a supervised licence at a fraction of European cost, Tbilisi is the underrated answer. We build the NBG file end to end.
The reform state: a brokerage company licence from the National Bank of Georgia under the Securities Market Law - securities operations and related FX, capital per NBG regulation, incorporation in days, licence in 3-6 months.
0% corporate tax while profits stay in the business, 15% only on distribution, 5% dividend WHT, VAT-exempt core, 55+ treaties. No EU passport - the group is built cleanly around that.
The two builds
The brokerage company - or the regional group build.
One licence at the core, and a structure around it: the NBG brokerage company, paired where needed with regional entities for markets Georgia does not passport into.
The NBG brokerage licence. With the group built around it.
01 - BROKERAGE COMPANY
The licensed core
A brokerage licence from the National Bank covering securities operations and related foreign exchange. The supervised home for regional client books, capital per NBG regulation.
A brokerage licence from the National Bank covering securities operations and related foreign exchange. The supervised home for regional client books, capital per NBG regulation.
- ✓Securities operations
- ✓Related foreign exchange
- ✓Capital per NBG regulation
- ✓NBG roadmap process
- ✓3-6 months realistic
- ✓0% tax while reinvesting
02 - THE REGIONAL BUILD
The group around it
Georgia does not passport into the EU or UK, so client bases in those markets are served through licensed entities there, with Tbilisi carrying the regional book.
EU and UK client bases served through entities licensed there; Tbilisi carries the regional book. One group, one working map.
- ✓Regional and CIS-adjacent clients
- ✓EU mandates - CySEC / Baltic
- ✓UK - FCA authorisation
- ✓Scope documented per market
- ✓Banking built deliberately
- ✓One group, one working map
Capital and prudential conditions per NBG regulation as of 2026, confirmed against the current rules at filing. Georgia is outside the EEA - no EU passport attaches.
Why Georgia
Six reasons firms license in Tbilisi.
✓
0% while you compound
The Estonian model: retained profits are untaxed, 15% falls only on distribution. A growing brokerage keeps its own capital.Compound untaxed.
✓
A central bank supervisor
The NBG runs capital-market supervision alongside banking. One credible authority rather than a scattered regime.One credible supervisor.
✓
Speed without shortcuts
Incorporation in days, licensing in months, with a published applicant roadmap. Fast because the state is efficient, not lax.Days to a company.
✓
The bridge position
Between Turkey, the Caucasus and Central Asia, with 55+ treaties and a liberal currency regime. Regional flows have a natural home.Turkey to Central Asia.
✓
Cost that changes the model
Salaries, premises and professional services at a fraction of European levels. Real substance at a price a boutique can carry.Substance affordable.
✓
Reform credibility
Two decades of deregulation, digital government and business-climate reform. The paperwork actually works.Paperwork works.
How it compares
How Georgia differs from other routes.
Side by side: supervised licensing at reform-state cost. With no EU passport attached.
Georgia vs other jurisdictions
| Feature |  Georgia | Other jurisdictions |
|---|---|---|
| Regime | Securities Market Law - NBG | MiFID or offshore |
| Tax | 0% retained · 15% distributed | 12.5%-28% headline |
| Passport | None - regional reach | 30 EEA states |
| Cost base | Fraction of EU levels | Western pricing |
Regime
GeorgiaSecurities Market Law - NBG
Other jurisdictionsMiFID or offshore
Tax
Georgia0% retained · 15% distributed
Other jurisdictions12.5%-28% headline
Passport
GeorgiaNone - regional reach
Other jurisdictions30 EEA states
Cost base
GeorgiaFraction of EU levels
Other jurisdictionsWestern pricing
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Georgia | Brokerage - NBG | 0% retained · 15% | Capital per NBG rules |
 Estonia | Investment firm - FI | 0% retained · 22/78 | IFD tiers, statutory clock |
 Cyprus | CIF - CySEC | 12.5% · 15% large | IFD tiers, EU passport |
 Dubai - DIFC | DFSA Cat 3C / 4 | 9% · 0% qualifying | US$500k · US$10k advisory |
GeorgiaLicense typeBrokerage - NBG
Taxation0% retained · 15%
RequirementsCapital per NBG rules
EstoniaLicense typeInvestment firm - FI
Taxation0% retained · 22/78
RequirementsIFD tiers, statutory clock
CyprusLicense typeCIF - CySEC
Taxation12.5% · 15% large
RequirementsIFD tiers, EU passport
Dubai - DIFCLicense typeDFSA Cat 3C / 4
Taxation9% · 0% qualifying
RequirementsUS$500k · US$10k advisory
Before you apply
Requirements for the Georgian licence.Requirements for the licence.
The National Bank publishes a roadmap and expects it followed. The checklist below is what a passing file contains.
01
Georgian company. Incorporated for the licence with real management in Georgia.
02
Capital - per NBG regulation for brokerage companies, evidenced and confirmed against current rules.
03
Fit-and-proper owners and managers. Vetted to ultimate-beneficiary level.
04
Business plan. Services, clientele and projections the Bank can interrogate.
05
Governance. Organisational structure, internal control and risk functions documented.
06
Client-asset arrangements. Segregation and reconciliation per the securities rules.
07
Compliance function. A named officer with documented procedures.
08
Reporting machinery. Prudential and supervisory returns live from day one.
09
AML/CFT programme. Georgian law compliance with a named officer.
10
Local substance. Staff and premises the NBG can visit.
11
Market discipline. EU and UK client bases routed to entities licensed there.
01
Georgian company, run locally.
02
Capital per NBG rules.
03
Owners vetted to UBO.
04
Interrogable business plan.
05
Governance documented.
06
Client assets segregated.
07
Compliance officer named.
08
Reporting live day one.
09
AML programme running.
10
Visitable substance.
11
EU/UK routed properly.
Reflects the Law on the Securities Market and NBG regulation as of 2026. Capital figures are confirmed against the Bank's current rules at filing.Securities Market Law + NBG regulation, 2026.
How it works
From first call to the NBG register.
01
Scope and map
Client geography assessed, brokerage perimeter fixed and non-covered markets named upfront.Real coverage.
02
Company and capital
Georgian entity incorporated in days, capital arranged to the NBG's current requirement.Days to incorporate.
03
The application
The file built to the Bank's published roadmap. Plan, governance and evidence complete.Roadmap followed.
04
NBG review
Questions answered on schedule. Months, not years, when the roadmap was followed.Months, with answers ready.
05
Licence and launch
Register entry, banking live, reporting calendared. The brokerage operating on the bridge.Reporting calendared.
Quick facts
RegulatorNBG
FrameworkSecurities Market Law
LicenceBrokerage company
ScopeSecurities + related FX
CapitalPer NBG regulation
IncorporationDays
Realistic timeline3-6 months
Tax0% · 15% distributed
The NBG publishes a brokerage-company roadmap for applicants. Files that follow it move at the fast end of the range.
On the ground in Georgia
Run from our Tbilisi office.
Prifinance - Georgia
Tbilisi · Georgia
Tbilisi, Georgia
01
Scope and structure
The brokerage perimeter mapped, and the markets Georgia cannot reach named before anything is built.Gaps named first.
02
The NBG file
Business plan, governance and capital evidence assembled to the Bank's roadmap. Complete at submission.Built to the roadmap.
03
People and substance
Management and compliance hired at Georgian cost. Real substance without western overheads.Georgian-cost substance.
04
Banking and launch
Accounts, custody and counterparty relationships arranged. The regional book running.Regional book live.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Georgia.
The Estonian model at Caucasus rates. Profits compound until the founders decide otherwise.
0% on retained profits
Nothing is taxed while profit stays in the business. A growing brokerage funds itself out of untaxed earnings.Self-funding growth.
15% on distribution
The corporate charge falls only when profit leaves. At timing the shareholders control.Founders time it.
5% dividend withholding
The distribution layer above, reduced under treaties. Modelled per shareholder map.Treaty-reducible.
Financial services VAT-exempt
Core services sit outside the 18% VAT; the standard rate touches overheads only.18% on overheads.
Treaties 55+
Coverage across Europe, the CIS and Asia. Regional flows route with relief.Europe, CIS, Asia.
Low cost base
Salaries and services at a fraction of European levels. The effective saving rivals the tax one.Rivals the tax saving.
Tax summary
Retained profits0%
Distributed profits15%
Dividend withholding5%
VAT on financial servicesExempt · 18% standard
Tax treaties55+
*Figures as of 2026 per the Georgian Revenue Service. Shareholder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Georgian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed brokerage.
Follow Prifinance
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Georgia · NBG
Launch your investment firm in Georgia with expert support.
Full-service assistance - from incorporation and the NBG roadmap to licensing, banking and launch - run through our Tbilisi office.
Get a consultation →Free legal opinion
Is Georgia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Georgian investment licence: frequent questions.
What licence does an investment firm need in Georgia?+
A brokerage company licence from the National Bank of Georgia under the Law on the Securities Market - covering operations in shares, bonds, certificates, promissory notes and other securities, with related foreign exchange inside the perimeter.
What capital is required?+
Capital and prudential conditions follow NBG regulation for brokerage companies. Because the Bank updates these rules, we confirm the current figure against the regulation in force at filing rather than quoting a number that may have moved.
How long does licensing take?+
Realistically 3-6 months including preparation. The NBG publishes an applicant roadmap, and files that follow it move at the fast end.
How are Georgian firms taxed?+
The Estonian model: 0% corporate tax on retained profits and 15% only on distribution, with 5% dividend withholding above it and financial services exempt from the 18% VAT.
Does the licence reach EU clients?+
No - Georgia is outside the EEA, so there is no passport. EU and UK client bases are served through entities licensed in those markets, and we build the group around that, cleanly.
Why Georgia rather than an offshore licence?+
Because this is real supervision by a central bank, at a cost closer to offshore than to Europe. Banks and counterparties treat an NBG licensee as a regulated firm - a distinction that decides account opening.
What substance is expected?+
A genuine Georgian operation: resident management, staffed compliance and premises the National Bank can visit - affordable here in a way it is not in Western Europe.
How fast is company formation?+
Days. Georgia's registry is genuinely digital and fast, which is why the licensing timeline is dominated by the file rather than the paperwork around it.
Georgia or Estonia?+
Both run the 0%-while-retained system. Estonia adds the EU passport at EU cost and 22/78 on payout; Georgia distributes at 15% at a fraction of the cost but reaches no union market. Client geography decides - we model both.
Why Prifinance for Georgia?+
The NBG roadmap followed exactly, capital confirmed against current regulation rather than assumed, and the group's non-Georgian markets licensed properly - from our Tbilisi office.
What licence?+
NBG brokerage company.
Capital?+
Per NBG regulation.
How long?+
3-6 months realistic.
Taxes?+
0% retained, 15% out.
EU clients?+
No passport - layered.
Why not offshore?+
Real central-bank supervision.
Substance?+
Real and affordable.
Formation?+
Days, digital.
Or Estonia?+
Passport vs cost.
Why you?+
Roadmap followed exactly.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
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Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Georgian route fits your project and what it will cost.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of National Bank of Georgia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.