Tax and bank accounts in Georgia

Georgia has one of the simplest tax systems in the region: a flat 20% income tax, an exemption for foreign income of residents, a 1% tax for small businesses and a corporate tax of 15% only on distributed profit. On the other hand, banks are very strict with Iranian nationals.

Main taxes

Notes on the 1% small business status

• Only for individual entrepreneurs, and open to foreigners.
• Some activities, such as legal, accounting and medical services, are excluded.
• Since March 2026, zero-income months must also be filed, and status revoked mid-year cannot be restored until the next year.
• Since 1 March 2026 a foreign individual entrepreneur needs a work permit to operate. Work permits

Becoming tax resident

You become a Georgian tax resident with more than 183 days of presence in any 12-month period.

Bank accounts for Iranians

• Georgia's main banks (Bank of Georgia and TBC) have said they comply with US, EU and UK sanctions.
• Accounts for Iranians without residence are often refused; residence, a lease and a clear economic purpose improve the chances.
• Large transfers and links to Iran are closely examined.

Through its banking and audit services, Imperial prepares documents to the banks' expectations.

Frequently asked questions

What is the income tax rate in Georgia?

A flat 20%; residents' foreign income is exempt.

Who qualifies for Georgia's 1% tax?

Individual entrepreneurs with small business status and turnover up to GEL 500,000, except some excluded professions.

Can Iranians open a bank account in Georgia?

Possibly, but in 2026 it is very strict and is often refused without residence.

This guide is general information, not personal tax advice; position as of October 2026.