FinTech and Crypto Licensing in Georgia: PSP and VASP Registration
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NOMOS Georgia is a leading legal advisory firm specializing in FinTech licensing, Payment Service Provider (PSP) authorization, and Virtual Asset Service Provider (VASP) registration in Georgia. Our experienced legal team ensures that your FinTech or crypto business is fully compliant with the requirements of the National Bank of Georgia (NBG) and guides you through every stage of the authorization process.
What Are PSP and VASP Licenses?
Payment Service Provider (PSP) and Virtual Asset Service Provider (VASP) authorizations are regulated financial licenses supervised by the National Bank of Georgia (NBG).
VASP registration is a legal requirement for companies engaged in activities involving virtual assets, including:
- Converting cryptocurrencies into fiat currencies and vice versa.
- Transferring virtual assets.
- Safekeeping or administering virtual assets.
- Operating custodial digital wallets.
- Running cryptocurrency exchange platforms.
A PSP license is required for businesses providing payment services, including payment gateways, electronic money (e-money) services, and money transfer systems.
Who Is the FinTech and Crypto Licensing Service in Georgia For?
Our FinTech and crypto licensing services are intended for innovative businesses operating at the intersection of traditional finance and digital assets, including:
- Cryptocurrency exchanges and crypto brokerage platforms.
- FinTech companies developing payment gateways and other payment solutions.
- Developers of custodial digital wallets and investment platforms involving virtual assets.
What Does NOMOS Georgia's Licensing Service Include?
We provide comprehensive legal management of the licensing process from initial planning through regulatory approval.
Our services include:
- Structuring the company’s corporate governance and share capital in accordance with National Bank of Georgia requirements.
- Preparing AML (Anti-Money Laundering), KYC (Know Your Customer), and CTF (Counter-Terrorist Financing) policies that comply with international regulatory standards.
- Drafting the business plan, risk management framework, and cybersecurity documentation required for licensing.
- Preparing and submitting the documentation necessary for the Fit and Proper assessment of directors, senior management, and beneficial owners.
Why Choose NOMOS Georgia?
The compliance standards imposed by the National Bank of Georgia are rigorous, and even minor deficiencies in an application may result in delays or rejection.
The legal professionals at NOMOS Georgia have extensive experience working with financial regulators and understand the specific expectations of the National Bank’s supervisory teams. This enables us to prepare comprehensive, well-structured application packages designed to maximize the likelihood of successful authorization.
Highly qualified attorneys providing reliable, compliant, and strategic legal solutions.
Streamlined digital processes allowing you to manage your legal affairs from anywhere.
Clear, upfront costs with absolutely no hidden fees, ensuring full financial predictability.
What Will You Receive?
Upon successful completion of the licensing process, your company will be entered into the official register of authorized entities maintained by the National Bank of Georgia and will receive the appropriate VASP registration or PSP authorization, allowing you to:
- Operate your business within Georgia’s legal regulatory framework.
- Open corporate banking accounts.
- Establish relationships with financial institutions and payment partners.
- Conduct international FinTech and virtual asset business with regulatory certainty.
Frequently Asked Questions
What is the minimum capital requirement for VASP registration?
Under the requirements established by the National Bank of Georgia, a VASP must maintain fully paid and verified share capital meeting the minimum threshold prescribed by the applicable regulatory framework. This requirement is generally not less than GEL 100,000, subject to the National Bank’s current regulations.
Is a physical office and local personnel required for VASP registration?
Yes. The National Bank requires applicants to demonstrate sufficient economic substance in Georgia. This generally includes maintaining a physical office in Georgia and appointing qualified local personnel, such as a resident AML compliance officer and other responsible management personnel, in accordance with applicable regulatory requirements.
Our legal experts are ready to guide you through establishing your corporate presence in Georgia with turnkey support.