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🇬🇪 Georgia — Emerging CIS fintech and gaming gateway

Georgia — NBG licence.

The National Bank of Georgia offers emerging-market licences for both iGaming and crypto with competitive costs and growing regional recognition.

Timeline

2—4 mo

Application to licence

Min. Capital

GEL 200K

~USD 75K equivalent

Year-1 Cost

USD 30—80K

Fully loaded yr-1

Regulator

NBG / GBR

National Bank of Georgia

01 — Is this right for you?

A considered route,
not a shortcut.

This jurisdiction rewards operators who treat the application as the start of a supervisory relationship.

A strong fit

When this is the right choice

iGaming operators targeting CIS and Georgian player bases

Georgia has a regulated online gaming market. A Georgian gaming licence provides legal access to the Georgian market and establishes credibility in the wider CIS region where Georgia's regulatory framework is well-regarded.

Crypto and payment businesses seeking a cost-efficient EU-adjacent base

Georgia's VASP and payment services framework provides a recognised regulatory base at significantly lower cost than EU alternatives. Georgia's stable banking sector makes it attractive for payment and crypto operators.

Operators benefiting from Georgia's 0% corporate income tax on retained earnings

Georgian companies pay no corporate income tax on undistributed earnings under Georgia's Estonian-model system. This makes Georgia highly tax-efficient for technology and services companies reinvesting in growth.

A poor fit

When to consider an alternative

Operators needing EU regulatory recognition

Georgia is not an EU member. Georgian gaming and VASP licences are not recognised in EU member states. Operators seeking EU market access need to layer an EU licence alongside their Georgian registration.

Operators requiring tier-1 international banking

Georgian-licensed entities face scrutiny from tier-1 European correspondent banks. Operators requiring seamless EU payment processing typically need an EU-regulated vehicle for banking purposes.

Operators without basic AML infrastructure

Georgian regulators have tightened AML requirements since 2021. Operators without established KYC and AML programmes face delays. The days of minimal-compliance Georgian licences are over.

02 — Licence categories

Permissions under
one Act.

Choosing the right tier and scope is the most consequential decision in the application.

Online Gaming Licence

Covers online casino, sports betting, poker, and lottery products for players in Georgia. Issued by the Georgian Revenue Service under the Law on Organising Lotteries, Games, and Clubs. Competitive GGR tax rates.

Payment Service Provider Licence

The National Bank of Georgia licenses payment institutions, e-money institutions, and remittance businesses. Used by fintech operators, payment aggregators, and crypto-fiat gateway businesses.

Virtual Asset Service Provider (VASP)

The NBG introduced VASP licensing requirements in line with FATF recommendations. Covers crypto exchanges, custody, and transfer services operating in or from Georgia.

03 — Path to grant

Phases to licence grant.

Georgian entity and structure

Weeks 1—2

Georgian LLC (SHpS) incorporated, tax ID obtained, bank account opened, and UBO structure documented for regulator submission.

Application preparation

Weeks 2—6

Licence application assembled: business plan, AML/CFT framework, fit-and-proper declarations for all directors, source of funds, and technical documentation for gaming or payment platform.

Regulator review

Weeks 6—12

Revenue Service or NBG reviews application. Gaming licence applications include technical assessment of the gaming platform. VASP applications include AML/CFT framework review.

Licence grant

Months 3—4

Licence issued. Georgian GGR tax on gaming, ongoing AML reporting for VASPs, and annual licence renewal obligations commence immediately.

04 — Year-one economics

Cost and regulatory
burden.

Year-one spend is dominated by substance — resident director, office, compliance officer, external audit — not the licence fee itself.

Cost item	Amount
Gaming licence application fee	GEL 5,000 — 25,000
Annual licence fee	GEL 10,000 — 50,000
Georgian entity incorporation	USD 500 — 2,000
AML officer and compliance	USD 8,000 — 20,000 / yr
Legal advisory	USD 8,000 — 20,000
Year-1 total	~USD 30K — 80K

Georgia is one of the most cost-efficient regulated gaming and fintech jurisdictions in its tier. Low incorporation costs, competitive licence fees, and an Estonian-model tax system create strong economics for operators building genuine Georgian substance.

05 — Common questions

What founders
ask before filing.

The questions we get on every diagnostic call. If yours isn't here, raise it in the consultation.

Online gaming in Georgia is subject to a GGR tax of approximately 5%. Under Georgia's Estonian-model taxation system, there is no corporate income tax on retained earnings — tax triggers only on profit distribution. This creates strong economics for operators reinvesting in growth.

A Georgian gaming licence primarily authorises serving Georgian-resident players. Operators targeting international markets typically use a Georgian licence alongside an offshore licence (Curaçao, Anjouan) for other jurisdictions.

Georgia operates an Estonian-model corporate tax system — 0% on retained/reinvested profits, 15% tax only on distributions. Combined with the Georgian Virtual Zone (0% on foreign-sourced IT revenue) and International Company status, effective tax rates for qualifying businesses can be very low.

Georgia has been progressively developing its VASP framework in line with FATF recommendations since 2023. Georgia is also notable for very high per-capita Bitcoin mining rates, reflecting low electricity costs and a crypto-friendly environment.

Georgia is cheaper and faster than Lithuania or Estonia but lacks EU membership and passporting rights. For operators who do not need EU passporting and want a low-cost, fast, crypto-friendly base with EU-adjacent geography, Georgia is competitive. For EU passporting, Lithuania or Estonia are the correct choices.

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Georgia — NBG licence.

A considered route,not a shortcut.