Opening a personal account in TBC Bank for a non-resident without visiting the bank

Georgia is the jurisdiction that may be reasonably used to make business on a global level. This country has all the necessary components for organization of effective operation: low tax rates, tax-free territories, high level of bank security, state guarantees for protection of investors’ rights, and free departure of goods with the certificate “Made in Georgia” to markets of EU, CIS, and China. Owing to the abovementioned, the Georgian jurisdiction is highly popular among no-residents, especially those from neighbor countries. Besides bank services for legal entities, non-resident should also care about qualitative bank servicing of personal assets. A possibility of opening a bank account online without visiting a bank in Georgia, in TBC Bank, is very interesting for non-residents. The latter obtain an access to high-quality bank services without wasting time on visiting other country. A personal account for natural persons in the Georgian TBC Bank is reasonable to use for receiving salary or other periodical payments, receiving dividends, and making operations with cryptocurrency.

The company Offshore Pro Group provides an opportunity to open a personal account in the most popular and reputable Georgian bank, TBC Bank. It is the leader of the Georgian financial system providing absolutely all retail services that non-residents can use. Opening a personal account in TBC Bank (Georgia) remotely without wasting time is possible with the help of Offshore Pro Group. The price of the service is 2 999 EUR. 

Opening a bank account in Georgia in TBC Bank for non-residents: getting to know the financial institution

TBC Bank is known to absolutely everybody in Georgia. It is the all-round leader of the local bank system by virtually all financial parameters. Reliability and stability of operation of TBC Bank attract most natural persons, including non-residents. As of mid-2019, this financial institution provides services to more than 83% of adult population of Georgia.

A mark of pride of TBC Bank is its leading positions on the local bank market. The share of its assets in the bank system of Georgia makes 39,1%, credit portfolio makes 38,5%, retail credits – 39,6%, deposits – 41%.

Offices of TBC Bank (148) are located in all major residential places of Georgia. Due to this, customers have no problems with availability of bank services. Moreover, the bank invests big money in development o remote channels of communication. TBC Bank has a top-class application for mobile Internet banking, as well as a system of voice biometric recognition in a call center. Also, TBC Bank is the only bank that owns completely digital bank in Georgia (“Space”).

According to the data from Euromoney, beginning from 2011 TBC Bank every year becomes the best bank of Georgia, according to the data of Global Finance – it is the best bank in the country every year since 2004.

A branched network, high quality of service, available programs of remote access to accounts, stability of the bank, low cost of premium service – this all attracts non-residents to TBC Bank. Another valuable factor beneficial for non-residents is the possibility to open a bank account for natural persons online without visiting the bank. Using this option, they may obtain an effective instrument in the form of a personal account without wasting time on trip to other country.

Opening a personal account and more – services available for non-residents in TBC Bank

This bank offers a full range of retail bank services designed for different categories of customers: payment cards of international systems Visa and MasterCard, personal accounts, deposit boxes, international transfers, and deposits. Let us review terms of the most popular bank services by TBC Bank. Here you may not only open a bank account online without visiting the bank (for natural persons), but also obtain many other equally valuable financial services.

Payment cards by TBC Bank

TBC Bank offers a full range of card products for natural persons: classic payment cards, Gold, payment cards for students and schoolchildren.

So, basic fees for servicing classic payment cards Visa/MasterCard:

• issuance – 30 lari and monthly commission – 2,5 lari;
• cash withdrawal in bank’s ATM or partner banks – 0,2%, in other banks – 2% minimum 3 USD/EUR or 6 lari.

Privileged cards cost more – 90 lari (approximately 30 dollars) and monthly – 7,5 lari, but this is still cheaper than in most European or CIS banks. Commissions for cash withdrawal using premium cards are similar to classic cards. In other words, if a non-resident wants to withdraw cash in his country, he will be charged a commission in amount of 2%.

TBC Bank also offers cards of instant issuance — Debit Card Mix. This card will cost customer 1 lari per month. Using this card a customer may withdraw cast at ATMs as in Georgia, so as abroad, and may pay for shopping online. The commission for cash withdrawal is similar to previous cards.

Card limits:

Popularity of TBC Bank is due to active implementation of various innovative bank instruments. One of such innovations is Visa Sticker, a sticker usually applied to a mobile phone. By using it, a customer may pay in shops by simply taking a sticker close to POS terminal. The price of Visa sticker – 12 lari  per year, payments within 45 lari do not resume entering PIN code, which significantly accelerates the process of shopping.

Learn more about benefits and registration of IT companies in Georgia.

Deposit products of TBC Bank

Here non-residents may open a bank account online without visiting the bank, as well as place money on deposit to save for an expensive item or obtain stable interest profit.

It should be mentioned that the system of insurance of deposits had appeared in Georgia quite recently. Today the Foundation for Deposit Warranty provides return of cash assets of natural persons that remain on accounts on bankrupt banks only within 5 000 lari.

The product line of TBC Bank is presented by all basic deposit programs:

• fixed-term – without the right of early termination of contract;
• fixed-term with topping up without possibility of early withdrawalи;
• special – for saving money on certain item;
• children’s – designed for parents who wish to save money until child’s majority;
• savings – its characteristics are very similar to a personal account. Non-residents may both top up and withdraw cash at any moment, but a small interest is also accrued on a balance.

A deposit can be placed in four main currencies: euro, US dollar, sterling and lari. Interest rates in foreign currencies are quite low, so these deposits are more reasonably to use for saving assets and protect from currency fluctuations. The peculiarity of the bank is that interest rates for non-residents here are 0.5 p.p. lower.

Non-residents may place money on deposit for a period 3 to 24 months – the longer the period of validity, the higher the interest rate. Interest rates in lari are relatively high – up to 10% yearly.

Except standard deposit products, TBC Bank allows purchasing a deposit certificate or obtaining the service “Coin bank”. The latter helps to save assets without wasting time and practically out of customer sight. A non-resident chooses himself which sum will be forwarded to a special deposit account after each purchase – not lower than 0,5-time lari.

Services for remote access to accounts in TBC Bank

Non-residents who wish to open an operating account online without visiting the bank also seek to obtain continuous and reliable remote access to their assets. While abroad, they want to manage a personal account in a Georgian bank. TBC Bank has realized all basic varieties of banking that provide a customer access to his assets:

• Internet banking;
• mobile banking;
• SMS

As well as automatic payments according to a preliminary request of a customer. The latter saves much time of a customer, as he does not have to enter same details periodically to make a payment. Besides, customers of the bank may perform currency exchange operations remotely at the most lucrative rate for natural persons.

Personal accounts for non-residents and package service in TBC Bank

Non-residents may open an operating account online without visiting the bank with the help of Offshore Pro Group, which is simple and takes a little time. Nevertheless, before addressing for a service we would like to emphasize that in TBC Bank you may use tariff packages except a standard personal account. Meanwhile, the last variant will cost you much cheaper.

Let us review the main differences between using only a personal account and obtaining services under a tariff package.

In TBC Bank, a personal account is opened in five currencies: USD/EUR/GBP/CHF/GEL. Such account can be rationally used for:

• transfers as within Georgia, so as internationally;
• currency exchange;
• payment for goods and services.

A personal account has no limitations on terms, and the bank does not require keeping a minimum balance.

The price for opening a personal account for a non-resident – 10 lari; a monthly commission of 0,9 lari is also charged. When using a personal account, a customer bears the following expenses:

• withdrawal of cash from account: in lari – 0,2%, in foreign currency – 0,6%;
• issuance of payment card (depending on type – 30 or 90 lari);
• withdrawal of cash from account using payment card at ATM of TBC Bank — 0,2%, ATM of other banks – 2%;
• payments to other banks: in lari – 0,07% min. 0,9 lari, in USD/EUR – 0,2% min. 15 USD/EUR.

Avoiding most of the above-mentioned fees is possible if a customer uses one of tariff packages by TBC Bank:

• Gamarjoba – designed for customers who seldom use bank services or who addressed TBC Bank for the first time. To access money on a personal account, a customer obtains a payment card Debit Card Mix;
• Universal – suitable for customers who always use services of the bank. Within the scope of this package a customer is provided with a classic payment card Visa and MasterCard;
• Status – this package will suit non-residents who are interested in high-quality premium service. Within the scope of the package “Status” a customer obtains a payment card of Gold class and increased interest rates on deposit.

Yearly fee for service within packages is the following: Gamarjoba – 20 lari, Universal – 50 lari, Status – 170 lari. Still, having paid this fee a non-resident is exempted from a commission for opening a personal account, its monthly maintenance, and he is issued a payment card for free, as he does not pay a commission for cash withdrawal at ATMs of TBC Bank. Moreover, a customer obtains cheaper payments for big amounts:

Apart from the mentioned services, in TBC Bank non-residents may open an operating account online without visiting the bank, as well as obtain the following services:

• mortgage — TBC Bank participates in 125 construction projects, where almost 10000 apartments are on sale;
• credit cards;
• insurance;
• international transfers;
• deposit boxes.

Why should be non-residents interested in a personal account in the Georgian TBC Bank?

It is very important for a non-resident in Georgia to open an account in a reliable and reputable bank, which is TBC Bank. Here non-residents may obtain qualitative and complete range of services. Also, you should pay attention to this bank because its personnel speak to customers in their native language. Communication is not a problem here – employees of the financial institution easily understand and speak Russian and English.

So, why should a non-resident open a personal account in a Georgian bank? There are several reasons for that:

• businessman who plans to register LLC in Georgia should have an account for payment of dividends and receiving salary. Besides, tax rate on dividends in Georgia is one of the lowest among European countries – 5%;
• TBC Bank, just as other Georgian banks, does not exchange financial information on its customers with tax bodies of other countries within the scope of protocol CRS. This means that any receivables on a personal account (dividends, salary, topping up of account) will be kept secret from a tax service of a non-resident’s country of residence;
• very often personal accounts are used by non-residents for operations with cryptocurrency. It is worth reminding that Georgia is the country where it is reasonable (cheap electric energy and absence of taxes) to mine virtual currency. To withdraw or purchase bitcoins or other cryptocurrency, a bank account is necessary.

Learn more about benefits of working with cryptocurrency in Georgia.

How can non-resident open a bank account in the Georgian TBC Bank remotely?

This is the brief process of online opening a bank account by a non-resident without visiting a bank in Georgia:

1. Customer contacts us at: info@offshore-pro.info.
2. Our employee gets in touch with a customer for detailed discussion of further cooperation.
3. Customer pays for our services by any convenient means – 2 999 EUR.
4. Our lawyer agrees with a customer a text of power of attorney for opening a personal account in TBC Bank.
5. Customer notarizes a power of attorney and a copy of international passport, and sends documents to us in Georgia.
6. Our representative opens a personal account in TBC Bank according to requirements of a customer, and sends him all documents for a personal account, together with a payment card and a device for password generation in Internet/mobile banking (if available).

Feel free to contact us at: info@offshore-pro.info and in just a few days we will open you a personal account in the best bank of Georgia.