Legal services in Georgia
Fintech, virtual assets and regulatory compliance in Georgia
Regulatory scoping, onboarding and AML risk management for technology and virtual-asset businesses in Georgia.
This is an overview of common legal questions and risks. The precise engagement, representation and fee depend on the facts, conflict checks and documents. No legal outcome is guaranteed.
1. First establish what the business does
A technology product is not automatically a regulated virtual-asset service, and not every fintech activity requires the same permission. Map the services, custody and transfer flows, counterparties and relevant jurisdiction before deciding on the legal framework.
2. Registration is not the same as a universal licence
Where the VASP regime applies, check the National Bank’s current registration and regulatory requirements. Do not describe a registration process as a universal "crypto licence" or promise that registration ensures banking access.
3. Risk-based AML controls
Identify applicable customer-due-diligence, beneficial-ownership, monitoring and recordkeeping duties. Outsourcing software does not automatically transfer legal responsibility. Cross-border sanctions and banking policies may need separate review.
4. Prepare a regulatory scope memo
Prepare a product-flow description, list of entities and countries, customer categories, planned wallet or custody arrangements, payment partners and compliance policies. Exact rules may change and must be checked against current official texts.
Documents to prepare
- Product and transaction-flow description
- Entities, owners and operating countries
- Custody and wallet arrangements
- Customer onboarding and AML procedures
- Bank and payments correspondence
Common questions
Is virtual asset activity automatically covered by a standard company registration?
No general assumption is safe. Assess the precise service, National Bank registration regime and AML duties.
Is VASP registration a general crypto licence?
No. Assess the exact activity and applicable registration regime rather than using a catch-all label.
Related practical guides
Relevant court practice
Official legislative source
Legislative Herald of Georgia — current lawConsult the consolidated current text and check subsequent amendments.
Preparing for a consultation
Summarise your objective, key facts, important dates and desired result. Do not send confidential documents through an unsecured public form.
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