Midshore · National Bank of Georgia · VASP · Low-tax
Georgia Crypto Licence
A fast, low-cost, low-tax crypto base outside the EU. Georgia's National Bank runs a genuine VASP regime — a registered, regulated licence in roughly two months at a token state fee — in a jurisdiction where crypto profits are effectively untaxed. It doesn't passport into the EU, but for global-facing exchanges and OTC desks that want speed and tax efficiency, it's one of the best-value regulated homes anywhere. Vantegris runs the NBG file end to end.
overview
What is the Georgia crypto licence?
Georgia is the value play in regulated crypto. Since 1 July 2023 the National Bank of Georgia (NBG) has run a formal Virtual Asset Service Provider (VASP) regime: you register a Georgian company, meet real substance and AML requirements, and obtain VASP status from a credible central-bank regulator. Unlike an unregulated offshore setup, this is a genuine, supervised licence — but at a fraction of EU cost and time.
The economics are the headline. The state fee is around 1,500 GEL (roughly $500), the NBG's statutory decision window is about 60 days (one to two months of review, extending toward four if it raises questions), and Georgia taxes crypto extremely lightly — individuals pay 0% on crypto profits and crypto-to-fiat exchange is VAT-exempt. You do need genuine substance: a Georgian LLC or JSC, a local director, a local office and full AML/KYC policies, with clean criminal records for directors and key persons. What you don't get is EU passporting — a Georgian VASP serves global markets, not the single market. For exchanges, brokers and OTC desks whose users are worldwide and who prize speed and tax efficiency, it's hard to beat.
advantages
Why operators pick Georgia
A statutory ~60-day decision window makes Georgia one of the quicker regulated routes.
A token state fee and modest setup costs versus EU or Asian regimes.
0% personal tax on crypto gains and VAT-exempt crypto-to-fiat exchange.
A National Bank of Georgia registration carries more weight than an offshore permit.
Straightforward incorporation and a pro-investment environment.
head to head
Georgia vs. an EU CASP
| Criteria | Georgia (VASP) | EU (CASP) |
|---|---|---|
| Regulator | National Bank of Georgia | National regulator under MiCA |
| EU passport | No | Yes (EU-27) |
| Timeline | ≈2 months | 3–9 months |
| State fee | ~$500 | Higher |
| Crypto tax | 0% personal | Standard corporate tax |
| Best suited to | Global-facing, cost/speed | EU-market operators |
who it's for
Who the Georgia crypto licence suits
requirements
Georgia crypto licence requirements
step by step
How to get a Georgia crypto licence
- Company setup Incorporate the Georgian LLC or JSC and arrange the local director and office. 1–2 weeks
- Substance & AML Stand up the office, appoint the AML officer and build KYC/AML policies and systems. 2–4 weeks
- VASP application Compile and file the VASP registration with the National Bank of Georgia. 1–2 weeks
- NBG review Manage the NBG's review and any queries; the statutory window is ~60 days. 1–4 months
- Launch On registration, go live under the VASP obligations and ongoing reporting. On approval
Not sure Georgia is the right fit?
Tell us your product and target markets — we'll confirm whether Georgia or another jurisdiction gets you live fastest, at the lowest all-in cost.
pricing
How much does a Georgia crypto licence cost?
- Georgian company incorporation
- VASP application to the NBG
- AML/KYC policies & procedures
- Regulator liaison to registration
- Everything in Licence
- Local director & office (substance)
- AML officer & compliance systems
- Banking introductions
- Everything in Turnkey
- Crypto-friendly banking & PSP introductions
- Tax structuring around the licence
- Ongoing compliance & reporting support
Georgia is genuinely low-cost: a ~$500 state fee plus company setup, a local office, a director and AML staffing. There is no MiCA-style capital tier. The trade-off is no EU passporting. We model the full setup and running costs — and the tax upside — before you commit.
obligations
Compliance obligations in Georgia
technical standards
Technical & IT standards in Georgia
after launch
After you go live in Georgia
market access
Which markets a Georgia licence reaches
A Georgian VASP registration supports global business but does not passport into the EU — to serve EU users you need an EU CASP licence. You still follow local rules in each market you serve and geo-block the United States, sanctioned and FATF-listed territories.
Operators must use GEO-IP blocking for restricted countries and any FATF-blacklisted nation. Non-compliance can lead to licence suspension or revocation.
Georgia crypto licence FAQ
Is a Georgian crypto licence a real, regulated licence?
Yes. Since 1 July 2023 the National Bank of Georgia has operated a formal VASP regime. You register a Georgian company, meet substance and AML requirements, and obtain VASP status from a central-bank regulator — a genuine supervised authorisation, not an unregulated offshore setup.
How long does it take and what does it cost?
The NBG's statutory decision window is about 60 days (one to two months of review, extending toward four if it raises questions). The state fee is around 1,500 GEL (roughly $500), plus company setup, a local office and AML staffing.
How is crypto taxed in Georgia?
Very lightly. Individuals pay 0% tax on crypto profits and crypto-to-fiat exchange is VAT-exempt — one of the reasons Georgia is popular as a low-tax base. We'll confirm the current corporate position for your structure.
Does a Georgian VASP let me operate in the EU?
No. Georgia is not an EU member and a Georgian VASP does not passport into the single market. It supports global business; to serve EU users you need an EU CASP licence. Many groups run both.
Do I need local substance?
Yes. You need a Georgian company (LLC or JSC), a local director, a physical office and genuine AML systems, with clean criminal records for directors and key persons. We arrange the substance as part of the engagement.
Reviewed by the Vantegris licensing team · Last updated July 2026. This page is general information, not legal advice. Licensing requirements vary by jurisdiction and change over time.
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