In 2025, more than 70,000 new businesses were registered in Georgia. Foreigners can open a sole proprietorship or LLC without residency, a local partner, or minimum capital requirements. Many of these companies use crypto for settlements: receiving payments from clients, converting assets, and holding part of their reserves in stablecoins. At the same time, companies that provide crypto services to third parties in Georgia must register with the National Bank as a VASP (Virtual Asset Service Provider). This has made the market more transparent and expanded the number of compliant transaction options from a corporate account.
If you need to officially exchange crypto from your company’s bank account or want to consult before a transaction, you can submit a request via the form on the website or contact a Werty manager on WhatsApp. Werty is a licensed exchange in Tbilisi that works with legal entities and processes transactions officially through Georgian banks. Submit a request to learn more about crypto exchange with Werty.
Can a Company Buy Crypto in Georgia?
Yes — and it is fully legal. A legal entity (LLC or sole proprietor) can buy and sell crypto through a licensed VASP exchange. No special permits are required: you only need a registered company and must pass standard verification.
However, there is an important detail to consider. A company cannot simply go to an exchange and buy crypto directly from its corporate account without proper transaction documentation. Georgian banks such as Bank of Georgia, TBC, and Credo closely monitor corporate transactions. If a transfer is made to an unknown counterparty or an individual, the bank may request clarification or even block the transaction.
This is why transactions are typically structured as follows: the company transfers funds to a licensed exchange, the exchange executes the transaction on its own legal entity, and then transfers crypto to your wallet or fiat to your corporate account. Everything is documented, with receipts and proper accounting records.
How Corporate Crypto Purchases Differ from Personal Ones
The key difference lies in documentation and taxation.
Individuals in Georgia do not pay income tax on profits from selling crypto. According to the Georgian Ministry of Finance Public Ruling No. 201/29 062 (2019), income from the sale of crypto assets is exempt from personal income tax, as it is not considered a Georgian-source income.
For legal entities, the situation is different. Companies operate under the so-called “Estonian model” of corporate taxation: profits are taxed at a rate of 15% only when distributed. This means that as long as funds remain within the company, no tax is due. Once profits are distributed (e.g., dividends), a 15% corporate income tax on the distributed amount and a 5% dividend withholding tax on the net amount received by the shareholder apply.
In practice, this means: if a company buys crypto and holds or reinvests it, there are no immediate taxes. Taxation occurs only when profits are realized and distributed.
Step-by-Step: How a Company Buys Crypto
Step 1. Choose a Licensed Exchange
Make sure the exchange has a valid license from the National Bank of Georgia (VASP status). Without it, the service is not allowed to operate with cryptocurrencies. You can verify the license on the NGB website or request it directly from the service.
Important for companies: not all licensed exchanges work with corporate clients, so clarify this in advance.
Werty is a licensed service (license of the National Bank of Georgia No. 0021-9404) that officially works with Georgian banks, provides all necessary documentation, and exchanges cryptocurrency for both individuals and legal entities.
Step 2. Complete Verification
Verification for legal entities is more complex than for individuals and requires additional documentation. You will need company registration documents, beneficial owner information, and an extract from the registry.
Additionally, the director or authorized representative must pass identity verification: upload a passport, complete a selfie check, and fill out a short questionnaire. The entire process usually takes 15–20 minutes online.
Step 3. Confirm Source of Funds
Licensed exchanges are required to request proof of funds, especially for large transactions. This is standard practice. Amounts above $10,000 are routine for corporate clients in Georgia.
Typical documents include:
- company bank statements,
- sale agreements (real estate, vehicles, business),
- brokerage or exchange reports,
- client contracts,
- crypto wallet transaction history.
Step 4. Pay and Receive Crypto
The exchange can be completed online or in an office in Tbilisi, Batumi, or Rustavi. Online processing may take anywhere from a few minutes to several hours, depending on whether the client and the exchange use the same bank.
After the transaction, you receive an official receipt, which serves as proof for accounting and banking purposes.
Where to Store Company Crypto: Wallet or Exchange?
For corporate use, it is recommended to use a separate wallet associated with the company rather than a personal wallet of the director. This ensures transparency in accounting and avoids confusion during audits or bank checks.
Options include:
- Hardware wallets (Ledger, Trezor): maximum security, suitable for storing large reserves.
- Exchange accounts: convenient for frequent transactions but involve platform risk. If a company plans to provide crypto services professionally, it will require its own VASP status.
- Multisignature wallets: optimal for companies with multiple owners, as transactions require approval from several parties.
How to Account for Crypto in a Georgian Company
The Georgian Tax Code does not clearly define crypto as a separate accounting category. In practice, most companies treat it as a financial asset or cash equivalent.
Key principles:
- Each transaction is recorded at the exchange rate on the transaction date.
- Gains or losses from exchange rate differences are recognized when converting to fiat.
- All receipts, statements, and transaction confirmations must be retained for audits and bank requests.
If a company’s turnover exceeds 100,000 GEL over 12 months, it must register for VAT. Crypto exchange operations are typically exempt from VAT as financial transactions, but this should be confirmed with an accountant for your specific case.
Common Pitfalls to Avoid
Do not mix personal and corporate transactions. If a director buys crypto personally and then transfers it to the company, this becomes a transaction between an individual and a legal entity and must be properly documented.
P2P transactions can be particularly risky for companies. Transfers from private individuals are often flagged as suspicious, and Georgian banks may block accounts due to repeated incoming payments from unknown senders.
Always verify the authenticity of the exchange. Scammers often create fake websites that imitate licensed services. Only use official platforms and avoid links from messengers.
Fix the exchange rate in advance. For large transactions, agree on a fixed rate with the manager before transferring funds to avoid losses due to volatility.
How a Corporate Crypto Transaction Works in Practice
For example, imagine you run an LLC in Tbilisi that has received a payment in USDT from a foreign client. You want to convert it into USD and transfer it to your corporate bank account.
The process is as follows: contact a licensed exchange → complete company verification → provide transaction documents → receive fiat in your corporate account along with an official receipt. The bank sees a transfer from a licensed VASP entity, which minimizes the risk of additional questions.
If you need consultation on your transaction or want to check the current rate, you can submit a request or contact a manager via WhatsApp. Werty works with legal entities, processes transactions officially, and provides all required documentation for accounting.