Open a Corporate Account in Georgia with TBC Bank in Your Presence

Georgia is one of those countries in the Caucasus that can actually become an attractive place to open a corporate bank account. The main advantages of Georgian banks are friendliness towards offshore companies and protection of data confidentiality of the account holders at the legislative level. Georgia’s banking sector can offer a wide range of cutting-edge banking products and services including remote banking. In this regard, we would like to offer you the service of opening a corporate bank account with TBC Bank in Georgia.

It should be noted that today, opening of a corporate account with TBC Bank requires the company director’ personal visit to Georgia. Or this can be done by their representative under the power of attorney.

TBC Bank

TBC Bank is one of Georgia’s two largest banks, along with the Bank of Georgia, a bank with which TBC Bank is continuously competing for leadership in terms of performance. However, after the end of 2016, upon acquisition of the Bank Republic, TBC Bank significantly increased the performance and can now be considered the largest bank in Georgia.

The name of the bank comes from the acronym of TBC, Tbilisi Business Center. The bank was founded in 1992 and its main founders are Mamuka Hazaradze, Badri Dzhaparidze and Vakhtang Butskhrikidze.

TBC Bank Performance Indicators (December 31, 2019)

Total assets	18,306.6 million lari
Total loans	12,662.0 million lari
Client deposits	10,112.0 million lari
Net worth	2,531.7 million lari
Net profit	545.7 million lari

Since 2014, TBC’s shares have been listed on the London Stock Exchange, the most important securities market in Europe. TBC Bank also holds numerous awards and titles by the international financial industry experts. The bank holds 39.5% and 39% of the loan and deposit markets in Georgia, respectively. And in 2019, the bank again won the “Best Mobile Banking 2019” award by the Global Finance. In addition to that, TBC Bank serves about 2.5 million retail clients and has one of the largest office and device networks in Georgia:

• 158 offices;
• 22,414 POS terminals;
• 3,671 self-service terminals;
• 1,351 ATMs.

The bank’s achievements should also include: 560,000 online banking users, introduction of Georgia’s first voice biometrics recognition system at the call center.

Corporate Account with TBC

It is important! If the beneficiary of a Georgian company is not a resident of Georgia, but a resident of any other country except Georgia, including the EU countries, they will not be able to open a corporate bank account in Georgia at the moment. Please feel free to enquire about the relevance of this information by sending your request to the info@ofshore-pro.info personally. However, there is an opportunity to become a resident of Georgia and we can assist you with applying for it. It is also possible to open a private account in Georgia and open a corporate account for a Georgian company with many banks and payment systems around the world that still work with non-residents.

Operating corporate account with TBC Bank will allow you to perform all the main types of transactions:

• make unlimited money transfers in various currencies around the world;
• exchange currency;
• pay the bills;
• get access to your funds at any time;
• have an opportunity to keep several currencies in a single account.

No minimum deposit and no minimum balance are required for opening an account. Active accounts have no validity period.

TBC Bank Payment Cards for Business

With TBC business cards, you and your employees will be able to carry out all the necessary banking operations from anywhere in the world, doing it safely and efficiently:

• it will be much easier to control one’s consumer habits;
• your employees will have the opportunity to cover their basic business costs and business travel expenditures easily and efficiently;
• thanks to TBC Bank’s online banking service, you will be able to receive detailed account balance reports, thus controlling the cash flow;
• account balance is not subject to a customs declaration in one’s trips abroad.

Available cards are Visa Classic or MasterCard.

TBC Bank Business Financing

Clients of the bank have the following options available:

• working capital financing;
• fixed assets financing;
• credit line;
• trade financing;
• financing opportunities via access to the local debt capital market;
• special financing opportunities for micro-businesses;
• loans for agricultural operations.

TBC Bank Deposits

TBC Bank’s corporate clients have at their disposal the following types of deposits:

Term Deposit:

Main parameters
Effective Interest Rate	up to 10.57% in lariup to 2.52% in USDup to 0.55% in EURup to 1.2% in GBP
Term	3 months to 2 years
Currency	GEL/USD/EUR/GBP

Term Deposit + :

Main parameters
Effective Interest Rate	up to 10.52% in lariup to 1.67% in USDup to 0.48% in GBP
Term	3 months to 2 years
Currency	GEL/USD/GBP

The minimum first contribution is 1,000 in lari or the currency equivalent. It is possible to top up the deposit monthly (minimum for 500 lari/currency equivalent). This will allow you to increase the interest yield.

Discount Certificate of Deposit: the deposit amount (certificate value) is GEL 10,000, the term is 12 months, the interest rate is 8.5%;

Coupon Deposit Certificate: the deposit amount (certificate denomination) is GEL 10,000, the term is 24 months, the interest rate is 8.25%;

Savings Deposit: you should have a current account. The currencies available are GEL and USD, the maximum rate is 2% per annum (GEL), interest payments are accrued monthly. You will have undisrupted access to your funds;

“My Safe Deposit Box” Deposit: this is a safe way to make savings with undisrupted access to your funds, it is available in GEL/USD/EUR, the effective interest rate is 3.04% in lari or 0.76% in USD.

TBC Bank Treasury Products

TBC Bank is happy to offer its corporate clients the following treasury products:

• The best exchange rate for USD/GEL currency pair within the Bloomberg trading system;
• Special exchange rates, instantaneous carrying out in the 24/7 mode;
• Currency risk hedging instruments;
• Forward forex bets;
• Government securities (treasury bills).

TBC Bank Remote Banking Services

TBC Bank pro-actively integrates the latest technologies into the banking service, so this bank can offer a wide range of remote banking services:

• Internet Banking It allows you to carry out all major banking transactions from anywhere in the world. It was recognized as the best Internet Banking according to the Global Finance in 2013, 2014 and 2015, and provides a high level of security.
• Mobile Banking A special mobile app (available for iOS and Android) will allow you to control your company’s account by carrying out all major banking transactions. This service is provided to the clients who have signed up for Internet Banking free of charge.
• iPad Banking lets you manage your corporate account with a special iPad app.
• Integration Service is a service that allows you to integrate your banking information into your accounting system with a few clicks.
• TBC Digipass is a digital passport for unlimited transfers via the Internet or mobile apps for smartphones and iPads.
• Phone Banking;
• SMS-Banking;
• Automated Payments;

Other products and services offered by TBC Bank:

• Simple and convenient payroll programs;
• Fast and free money transfers between the TBC Bank accounts;
• Cash logistics and secure delivery across Georgia.

Procedure for Opening a Corporate Account with the Georgian TBC Bank

The procedure for opening a corporate account with TBC Bank in Georgia consists of three steps.

1. First of all, you should decide whether you would like to open a corporate account with TBC Bank and ask us for our advice and professional assistance: info@offshore-pro.info.
2. Then, you will need to pay for our professional assistance in opening a corporate bank account with TBC Bank. You can do this via a bank transaction, with a payment card or via any of the payment services such as: PayPal, Webmoney, Western Union. The cost of this service is 2999 EUR.
3. After the payment you will need to prepare you documents necessary to open an account.

Potential clients, their jurisdictions and type of operations are considered by the bank on a case-by-case basis every time. It is not possible to open the account with TBC Bank in Georgia remotely at the moment. The company director must be present in person or send a representative under the power of attorney.

However, a preliminary review of application with no personal presence is possible. All the documents can be submitted in English. If the bank approves the application, the client will need to come to the bank’s office in Georgia and bring all the documents translated into Georgian along.

No minimum initial deposit or account balance are required to open the account.

Documents Required for Opening a Corporate TBC Bank Account in Georgia

• company’s Articles of Association, founding document;
• extract from the state commercial registry or other similar document confirming the status of a non-resident legal entity;
• passport copies for all persons authorized to represent the company and have the right to dispose of the account;
• Certificate of Incumbency to be provided by offshore companies only. It must have the following information: name of the company, its registration number and address; director’s name, surname, passport number, date of birth and address; share capital; issued share capital and class of shares; each shareholder’s name, surname, position, passport number, registration number, date of birth;
• statement about the shareholders with a share of 25% or more, and statement about the persons with significant control, as well as notarized copies of their passports;
• signature samples of all legal entities with representative rights, as well as persons authorized to dispose of the account. The document must be notarized or certified by the relevant bank employee in charge;
• tax registration certificate;
• document containing information about the client’s management company. The document must be certified by the client’s authorized representative with a date specified. If, based on the documents required to open a bank account, the governing body has been determined, there will be no need to provide any additional documents containing information on the management company.

Note: all documents must be submitted as apostilled and notarized copies translated into Georgian and being no older than 6 months by the date they are submitted.

• The latest financial report.

Note: it is not necessary to present an annual financial report when opening an account, but later on when the account is open, legal entities incorporated in the offshores will be required to present their annual financial reports.

In addition, it will be necessary to provide information about the company’s business operations, as well as reasons for opening an account in Georgia.

Please feel free to ask any additional questions about the procedure for opening a corporate bank account with TBC Bank in Georgia by sending us an email to: info@offshore-pro.info.