Cryptocurrency and Blockchain Law

The resolution of the National Bank does not apply to persons who buy and sell cryptocurrencies and engage in mining themselves. Only intermediaries need to be registered for transactions - the main characteristic of a Virtual Asset Service Provider (VASP) is that it carries out transactions on behalf of third parties.

The state tax for obtaining a Georgian cryptocurrency exchange license is approximately 1500 GEL.

There are no special restrictions in the regulations of the National Bank of Georgia. You can work with all convertible digital assets that have a market value in fiat equivalent, be it Bitcoin, Ethereum, Solana, Toncoin or Tether stablecoins. 

No, the only legal currency for transactions in Georgia is the Georgian Lari (GEL). However, this does not mean that one cannot work with cryptocurrencies in the country. You can easily open a bank account with a local Georgian bank with balances in USD, GBP and EUR, allowing you to conveniently manage your finances.

We provide clients with a wide range of services beyond legal assistance. These include tax services, accounting services, brokerage services, internal audit services, and more.

Bring any documents related to your case, including correspondence, contracts, or court notices. This will allow us to better understand your situation and provide accurate advice.

You can book a consultation through our contact page or by calling our office directly. Our team is ready to provide you with the legal assistance you need.

We handle various cases, including but not limited to real estate, family law, labor disputes, gambling, cryptocurrency law, and criminal defense.

There are couple of ways:

●     You may stay in Georgian for any 183 days within 12 months period;

●     Obtain tax residency on the basis of being a high net worth individual.

While the first option is straightforward, second one has following requirements:

●     An individual has to have either GEL3mln in assets OR GEL200k income per annum for last three consecutive years, and

●     An individual shall have Georgian residence permit OR Georgian source income of GEL25k per year.

Note regarding the first option - the time of actual stay in the territory of Georgia shall not include the time, during which a natural person stayed in Georgia:

• a) as a person having a diplomatic or consular status or as a family member of such person;
• b) as an employee of an international organisation acting under an international agreement of Georgia or as a person in the public service of a foreign country in Georgia or as a family member of such person, other than Georgian citizens;
• c) when moving from one foreign country to another via the territory of Georgia;
• d) for treatment or leisure.

Short-term residence permitissued to an alien, who has the right of ownership of real property within the territory of Georgia (other than agricultural land) with its market value exceeding USD100k equivalent in GEL, and to his/her family members. Can be issued for period 0.5 - 1 year.

Residence permit for investment purposes issued to:

- an alien and their family members who made investment in Georgia of at least USD300k equivalent in GEL (other conditions also apply). After 5 years of satisfying investment-specific conditions - the person is eligible to obtain permanent residency.

- an alien who holds a title to an immovable property in Georgia with a market value exceeding USD300k equivalent in GEL. After 5 years of holding property with mentioned value - the person is eligible to obtain permanent residency.

Labor residence permitissued for implementation of entrepreneurial activities or employment in Georgia. Need to proof respective min. salary of approx. GEL1k per month AND min. turnover of employer (GEL35k or GEL50k turnover per foreigner). Can be issued for period 0.5 - 6 years.

Residence permit for family unification issued to family members of an alien holding residence permit. Can be issued for period 0.5 - 6 years.

Permanent residence permitissued to a spouse, parent and child of a citizen of Georgia. Permanent residence permit is also issued to an alien who has been residing in Georgia for the past 6 years based on temporary residence permit. Residence in Georgia for study or medical treatment and employment at diplomatic and equivalent representative offices in Georgia is not included in this period.