Georgia, Mainland:

VASP (Virtual Asset Service Provider)

A VASP in Georgia (Mainland) allows for:

• Virtual Asset Exchange
• Virtual Asset Transfers
• Custody and Administration
• Portfolio and Trading Platform Management
• Virtual Asset Lending
• Initial Coin Offering (ICO) Services
• Crypto Payment Processing & Settlement

Corporate Profit tax (CIT): 15% (Paid only if dividends are distributed)

Value Added Tax (VAT): 0% (Providing any financial instruments are VAT exempt in Georgia) 

What is included:

• Company registration in Georgia (LLC)
• All company registration and corporate service fees
• Registration of the entity with the Revenue Services for tax compliance
• Due Diligence per person
• Legal address registration for 1 (one) year
• Set of corporate documents duly translated, apostilled (if applicable)
• Founding agreement
• Official extract of the registration of the business registry
• Company Charter (Articles of Association)
• Opening a Corporate Bank Account in a Georgian Commercial Bank
• Required for regulatory compliance, business operations, and tax registration under Georgian law
• Ensures seamless financial transactions, AML compliance, and adherence to National Bank of Georgia (NBG) regulation
• VASP License Application and submission
• Communicating with the National Bank of Georgia (NBG) throughout the entire license application process
• Liaising with Georgian regulatory authorities to ensure all required documents meet legal and compliance standards
• Development of a Comprehensive Business Plan for VASP License
• Drafting a detailed business plan tailored to meet the requirements of the National Bank of Georgia (NBG) for VASP license application
• Defining the company’s operational strategy, financial projections, compliance framework, and risk management approach to align with regulatory expectations and ensure business viability
• Development of AML/KYC Policies for VASP Compliance
• Preparing Anti-Money Laundering (AML) and Know Your Customer (KYC) policies in accordance with Georgian regulations and international best practices
• Ensuring compliance with the National Bank of Georgia (NBG) requirements by implementing robust customer due diligence, risk assessment, and reporting procedures
  

Company Maintenance:

•  Local Accounting Services:
• Up to 20 invoices/month
• Annual Financial Reports
• Search and employment of a Local AML/MLRO:
• Coordinating the appointment process and ensuring proper onboarding for the selected AML/MLRO
• Arranging a 1 (one)-year contract for the AML/MLRO’s services
• AML/MLRO will deliver up to 5 hours per month of written assistance
• Search and rental agreement for a physical office in Georgia for 1 (one) year:
• Review and liaising of entering into a written agreement with the landlord
  

Timeline ~5 months