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/

 

[Martin Everson]

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

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]

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

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]

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/

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]

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

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

 

[JackAlabama]

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

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]

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

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.