: Some premium users, such as SOLO clients, may be eligible for Zoom-based verification if they cannot visit a branch in person. Top Compliance Tips
Enhanced scrutiny regarding the source of customer wealth.
To prevent illicit funds from entering the banking system, BoG now requires comprehensive, verifiable proof of how your capital was generated.
Cryptographic ledger histories, real estate sale deeds, or inheritance certificates. 2. Transaction Geography and Intentions
The updated KYC form of the Bank of Georgia reflects the bank's commitment to strengthening its AML and CTF (Combating the Financing of Terrorism) measures. The new form requires customers to provide more detailed information about their identity, address, and financial activities. Some of the key changes include: bank of georgia kyc form updated
For residents and non-residents, the following documentation is typically required: A valid international passport.
One customer reported receiving a "Client Update" request via SMS asking to fill out the form within a short timeframe, describing it as feeling "like going through KYC all over again". This is precisely the kind of request you cannot afford to ignore.
: A Georgian SIM card is mandatory for receiving SMS notifications and two-factor authentication.
The Bank of Georgia has updated its KYC form to comply with regulatory requirements and to enhance its customer due diligence processes. The updated form aims to collect more detailed information about customers, their business activities, and beneficial owners. This guide will walk you through the changes, requirements, and steps to complete the updated KYC form. : Some premium users, such as SOLO clients,
Depending on your risk profile and citizenship, you may need to upload supporting files alongside the form. These often include employment contracts, corporate registration documents, audited financial statements, or utility bills for proof of address. Step-by-Step Guide to Completing the New Form
For business accounts and high-net-worth individuals, the updated form requests information on your primary incoming and outgoing counterparties. You will need to list the geographic locations and names of the main suppliers, clients, or partners you trade with. Step-by-Step Guide to Completing the Form
The current wave of updates appears to be driven by several factors:
Accurately input your TIN. If you are a digital nomad with a complex tax situation, input the country where you are currently registered as a tax resident. Leaving this section blank or providing mismatched information will cause immediate compliance delays. Step 5: Review and Attest Cryptographic ledger histories, real estate sale deeds, or
: Full name as it appears on your foreign passport, date of birth, country of birth, and passport number.
Supporting documentation for alternative income sources, such as dividends, real estate sales, inheritances, or cryptocurrency liquidation. 2. Comprehensive Transaction Volume Estimations
The exact business or personal purpose behind frequent international wire transfers. 3. Connection to Sanctioned Jurisdictions
: Customers are encouraged to complete the updated form electronically via the dedicated KYC Portal Enhanced Documentation Income Verification : You must now provide a bank statement for the last