• Accepting deposits and other repayable funds

• Lending (retail/corporate/mortgage as authorised)

• Payment services and issuing cards

• Foreign exchange and money‑market operations; treasury/ALM

• Custody/safekeeping and ancillary banking services

• Investment services (as permitted by local law and specific authorisations)

• Local legal entity and head office in Georgia; effective management onshore

• Paid‑in capital & ongoing own‑funds per NBG prudential rules; recovery/resolution planning

• Sound governance: fit & proper board and management; independent control functions

• Risk management framework (credit, market, liquidity, operational); internal models where applicable

• Comprehensive policies: credit, collateral, provisioning, outsourcing, remuneration, conduct

• AML/CFT program aligned with FATF and Georgian law; sanctions screening; transaction monitoring

• ICT and operational resilience; incident reporting; business continuity & disaster recovery

• External auditor; independent internal audit; regulatory reporting and disclosures

Core in‑country team (indicative):

• Board with independent member(s)

• CEO; CFO; COO; CRO (Risk)

• Head of Compliance & MLRO

• Head of Internal Audit (independent)

• Treasury/ALM lead; Credit/Risk leads

• IT/CISO; Operations & Payments leads

• Finance/Accounting; Legal/Company Secretary

• Core banking platform; customer onboarding & KYC

• Payments connectivity (local rails, SWIFT/correspondents), card issuing/acquiring

• Treasury/ALM, liquidity & interest‑rate risk systems

• AML suite (IDV, screening, monitoring, case management)

• Regulatory/financial reporting with audit‑ready trails

• Information security controls (IAM, logging, DR/BCP); vendor/outsourcing management

• Fraud prevention & transaction monitoring; complaints management

• Domestic operations in Georgia; cross‑border services subject to NBG approval and partner jurisdictions.

• Potential correspondent banking network for FX and international payments.

• Corporate income tax: 15% on distributed profits (retained/undistributed profits generally untaxed).

• VAT: standard rate 18%; many financial services may be exempt.

• Payroll, withholding and other taxes per Georgian law.

• Settlement and operational accounts with local banks and NBG‑connected systems.

• SWIFT/BIC and correspondent banking network for FX/nostro accounts.