Context:
I am a Non-CRS citizen currently based in Dubai.
My residency in Dubai is sponsored by the company I own here and my company / personal bank accounts in Dubai.
I've heard Georgia is an excellent country to have a backup personal bank account (Solo/concept)
Do you, gentlemen, suggest I go with Georgia or are there other countries with a similar offering?
Also any idea as to what the process is of opening an account in Georgia, walk-in with passport days are over?
@martin
My apologies if my post wasn't clear.
I want to know if Georgia is a good country for an offshore personal Bank account. I've heard about Solo.
Could you also shed some light on the account opening procedures? Is passport only enough? Do you just walk into a branch?
I will be using the account for expenses during my travel. No business activity.
Any recommendations in this regard is highly appreciated.
My apologies if my post wasn't clear.
I want to know if Georgia is a good country for an offshore personal Bank account. I've heard about Solo.
I used BoG back in day and used their Golden Lion service required a minimum balance 250k GEL. Not sure if this account can still be opened. The account could be opened remotely if using their Wealth Management division. Never used Solo so cant comment.
Del Raz said:
I will be using the account for expenses during my travel. No business activity.
Any recommendations in this regard is highly appreciated.
Now the problem with BoG 😕. It owns a bank in Belarus and has close connection to Russia financial system. See my below post. It may be ok for card payments during your travel but not a great time to utilize them for in/out wires as. Georgia would fall into high risk country category due to current situation with Russia. Add to fact that UAE is on FATF grey list your creating a nightmare for moving funds between those countries.
I used BoG back in day and used their Golden Lion service required a minimum balance 250k GEL. Not sure if this account can still be opened. The account could be opened remotely if using their Wealth Management division. Never used Solo so cant comment.
Were you happy with their service?
Did BoG deliver what they promised?
Would you use them again?
No as wild west days of Georgia banking are long gone and the country next door is at war. They also made me travel to Georgia to close my account at a time when there was on-going protests.
