Opening a corporate account is not very easy if you are a non-resident as banks want to know who they are dealing with and check your company meticulously before they give the final approval. Georgia is not an exception, and it has been hard to open a business account here in recent years. However, we know a bank that is loyal to non-residents, and you will be able to create an account there online with our assistance. This is a cost-effective solution that saves your time, money, and effort. With our help, you will have a smooth experience and get access to your account in a matter of a few business days. Georgia is a country with great prospects, so you are welcome to establish your business here and take advantage of all the perks that the country can provide!
If you need more information on the country and banking, please visit our portal to read a more detailed article on non-resident bank account in Georgia and follow the links to discover more. We write about company establishment in different destinations, opening accounts with various banks across the globe, asset protection and tax optimization solutions, and citizenship by investment. You can book a free individual session with our expert to discuss your needs and get professional advice. We can help you with company setup, account opening, and finding the best solutions in many situations. Simply get in touch with us by clicking on the link!
Silk Road Bank: Details
Why do we recommend the Silk Road Bank to our customers? Well, this is a tiny bank (even if we rely on Georgian standards), and it helps the institution to be focused on the needs of every customer and make sure you will timely receive the high-quality services you need.
The bank is headquartered in Tbilisi, the Georgian capital, but it provides services across the country using its strategic partnership with the Bank of Georgia, and is also represented in several countries.
The Silk Road Bank has long been focused on providing services to local companies and famous brands that established their presence in Georgia. It was founded at the start of the 1990s by the Silk Road Group, a private investment group. They successfully invested funds in important projects in different economic sectors, including real estate, telecom (Silknet), transport and logistics, and others.
According to the bank’s customers, this is a financially sustainable bank that renders high-quality services to individuals and businesses alike, including foreign private and corporate customers.
Corporate Services at the Silk Road Bank
You can open an account for your non-resident company with the Silk Road Bank remotely and get access to a number of excellent banking products:
- Corporate payment cards
- Three kinds of deposit programs
- Online banking
- Credit lines, overdrafts, and other business loans
In addition, the company’s managers and other employees will have access to an extensive range of financial services, such as demand/time/savings accounts, payment cards, and so on.
Business Accounts with the Silk Road Bank: Main Benefits
Let’s look at the main advantages you will get by opening a corporate account with the Silk Road Bank in Georgia:
- You can set up the account in person or remotely
- Benefit from all typical banking services that a company needs
- All online payment transactions and bank cards are covered by the 3D Security Service
- The service fees are low: you will pay GEL 10 to set up a multicurrency account, GEL 2 for its use on a monthly basis, and a small fee in case it remains inactive (GEL 5 for half a year and GEL 10 for up to 12 months).
- The interest rates in deposits in USD and GEL are quite competitive
- International money transfers come at a low fee (0.2% of the amount)
- SMS and email banking come at an affordable fee (GEL 1), while phone banking is free
- Internet banking is available at a reasonable fee (GEL 50 for full access)
- You can have regular automatic money transfers at GEL 2 a month
- The website and the banking system have an interface in English
- You can use the bank for payroll
- The Silk Road Bank has a wide network of correspondent banks all over the world
- There are loyal compliance rules
- You can take advantage of quick and reliable cash transportation service in Georgia
- There are no currency control regulations
- There is a deposit insurance system in place that fully covers the deposits up to GEL 15,000.
Sounds impressive? These benefits are available to customers from all over the world as the Silk Road Bank takes care of its customers’ financial well-being and convenience.
Why Opt for Georgia?
Let’s look at the reasons why you should choose Georgia among many other destinations:
- Legal entities can benefit from numerous incentives and tax exemptions, especially if they are incorporated in the Virtual Zone or the Free Industrial Zones.
- Georgia has not joined the global automatic information exchange standards, which means that the financial/tax details of account holders will remain confidential.
- The tax system is loyal (you will not have to face any sudden inspections, and you can freely communicate with the authorities remotely using your personal account).
- Non-residents who want to incorporate a legal entity will not face any restrictions.
- You are not required to employ residents. You are allowed to have only one company member who can combine the director’s and the founder’s positions.
- Company registration in Georgia will only take a few days.
The country has created such beneficial conditions for business development that we recommend setting up a corporate account in Georgia to any entrepreneur who wishes to ensure financial data privacy, reduce the cost of company maintenance, and optimize tax rates. The Sink Road Bank will provide a multicurrency account, corporate cards, and online banking at a reasonable price.
Interested in Georgia? Please follow the above link to discover the step-by-step procedure of corporate account setup or get in touch with our expert straight away to discuss the details. We wish you luck in your business endeavors and we will be glad to help you get a seamless experience.