Bank accounts and deposits in Georgia for foreigners

A foreigner can usually open a bank account in Georgia without a residence permit, but each bank decides for itself and can refuse. A non-resident's deposit is insured up to 50,000 lari per depositor per bank, in any currency.

Highest 12-month rates now: 10.95% in lari (Credo Bank), 4.00% in dollars (Ziraatbank), 2.50% in euros (Khalyk Bank Georgia).

Prepared by: Otar Tevdorashvili · 07.11.2026

What banks ask for

There is no single official list: each bank sets its own requirements. These are the usual topics. Confirm the exact list with the bank before you go:

Your passport. Most banks expect you in person; remote opening is limited and varies by bank.
The purpose of the account and the source of your funds. Banks have to establish this by law, so bring supporting documents.
An address. Some banks ask for a rental contract or other proof of where you live.
A bank can refuse, so keep more than one option. Ask about account fees too.

Best rates right now: 12 months

In lari

Credo Bank10.95%
Pasha Bank Georgia10.20%
Khalyk Bank Georgia10.00%

In US dollars

Ziraatbank4.00%
Khalyk Bank Georgia4.00%
Is Bank3.60%

In euros

Khalyk Bank Georgia2.50%
Ziraatbank2.00%
Is Bank2.00%

National Bank of Georgia data, read on 10.11.2026. These are general rates; terms for non-residents may differ.

Deposit rates at all banks

How deposits are insured

The limit is 50,000 lari per depositor per bank. Several accounts at one bank are added together; accounts at different banks count separately.
Cover applies to residents and non-residents, in any currency, including current and card accounts, term and demand deposits.
If a bank is liquidated, reimbursement must begin within 20 days, and the right to claim lasts 3 years.
The system's members are commercial banks and microbanks. The agency's pages do not mention microfinance organizations or exchange offices, so do not assume they are covered.
Not covered, for example: deposits of bank administrators and of holders of 5% or more of the bank, and funds whose use is restricted, such as loan guarantees.

According to the agency, the limit will rise to 100,000 lari from 1 January 2027.

Which currency and term

Lari deposits pay more, but if you spend in dollars or euros you also carry the risk of the lari exchange rate.
Compare the effective rate, not the advertised nominal one.
Early withdrawal cuts the interest, so choose a term that matches when you will need the money.

Tax

Article 131 of the Tax Code sets a 5% tax at source on interest, and paragraph 5 of the same article has a separate rule for licensed financial institutions.

So ask the bank whether it withholds tax and what your net interest will be. You may also have to declare it in your home country. This is not tax advice.

FAQ

Can a foreigner open a bank account in Georgia?

As a rule yes, even without a residence permit, but the bank decides and can refuse. You usually need a passport and an explanation of the account's purpose and the source of your funds.

Are non-residents' deposits insured in Georgia?

Yes. The Deposit Insurance Agency covers deposits of residents and non-residents in any currency, up to 50,000 lari per depositor per commercial bank or microbank.

Can I open a deposit in dollars or euros?

Yes, Georgian banks offer deposits in lari, dollars and euros. Foreign currency rates are lower than lari rates, and the products available differ by bank.

Which bank has the highest rate right now?