Georgia Transfer Restrictions

[liroyb]

Are there any transfer restrictions to/from Georgia by correspondent banks due to the political situation there?

 

[JohnnyDoe]

Think carefully before dealing with any Georgian bank. Read this thread to get an idea of what can happen: https://www.offshorecorptalk.com/threads/terabank-georgia.35375/

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Martin Everson]

They maybe coming. The EU and US are upset‍ at a democratic election result that didn't go in their favour so who knows what⁠ they might do next.

https://www.newsweek.com/us-government-sanctions-georgia-officials-visa-bans-1954627

 

[TRGali]

First, you will meet a lot of restrictions from‍ your georgian bank. Transfers in/out outside Georgia will go through heavy scrutiny and easily refused⁠ if the monkey does not understand or simply is in a bad mood.

 

[liroyb]

I'm a client for over‍ a year and have no complaints. I understand well that this is not exactly Switzerland⁠ or Singapore but for low 5 figures deposits as checking account they serve the purpose.⁤

 

[JackAlabama]

All I can say is, if I was there today,⁠ I wouldnt be there tomorrow.

 

[JackAlabama]

id be very careful as the restrictions often happens‍ to be retroactively applied as well today. So Id restrict it to foreign accounts ready⁠ to be lost.

 

[linusAG]

A guy working as a C-level of an EMI told me that Banking Circle suspended‌ their client's USD payments to/from Georgia about four months ago.
It seems that Georgia already‍ in the black-list of Banking Circle and its Correspondent Bank : (

 

[khinkali]

Not that I have noticed. Georgian banks can be‍ very picky when it comes to business transfers, often wanting a lot of supporting documentation.⁠ Most expats seem to use Wise and/or crypto for personal transfers.

The EU will continue⁤ to try to meddle in Georgian politics but we are yet to see if the⁣ next US administration will stop the shenanigans from their end.