I feel I'm qualified to comment on this as well, being someone who both lives in Georgia and has a fair bit of knowledge and experience in the field.
While I've come across more cases than @Jonny Cage has when it comes to banks closing down personal accounts (it seems to have started to increase as of lately, especially by one bank in particular and when it comes to people whose incoming transactions are predominantly from abroad and not 100% straightforward), I have indeed never heard of a single case where a Georgian commercial bank has frozen someone's assets for a reason other than an order by the authorities. Don't quote me on this, but I don't believe this behaviour would even be legal here.
On the other hand, account freezes are relatively common when it comes to disputes with the tax authorities. The "shoot first, ask questions later" approach sadly still prevails here in that sense. But that's far more the case with businesses than with individuals.
And yes - opening personal accounts on a PoA is both common and straightforward, but one should, of course, expect at least the same amount of KYC and due diligence as they would otherwise, and in any other jurisdiction.
While I've come across more cases than @Jonny Cage has when it comes to banks closing down personal accounts (it seems to have started to increase as of lately, especially by one bank in particular and when it comes to people whose incoming transactions are predominantly from abroad and not 100% straightforward), I have indeed never heard of a single case where a Georgian commercial bank has frozen someone's assets for a reason other than an order by the authorities. Don't quote me on this, but I don't believe this behaviour would even be legal here.
On the other hand, account freezes are relatively common when it comes to disputes with the tax authorities. The "shoot first, ask questions later" approach sadly still prevails here in that sense. But that's far more the case with businesses than with individuals.
And yes - opening personal accounts on a PoA is both common and straightforward, but one should, of course, expect at least the same amount of KYC and due diligence as they would otherwise, and in any other jurisdiction.
