Bank Of Georgia Kyc Form Updated
Bank of Georgia (BOG) has updated its "Know Your Customer" (KYC) procedures to align with stricter Anti-Money Laundering (AML) and Common Reporting Standard (CRS) protocols. Customers, particularly non-residents, are now required to submit detailed information through a dedicated digital portal to open or maintain accounts. Latest KYC Requirements & Digital Portal
4.2 Expected Annual Turnover / Activity
- Ultimate Beneficial Owner (UBO) Register: The form now includes a table to list all UBOs with 25%+ ownership, along with their passport copies, proof of address, and declaration of control structure.
- Authorized Signatory Limitations: Previously, any director could sign. Now, the updated form requires board resolution minutes explicitly naming signatories and their transaction limits.
- Economic Substance Declaration: Companies must state if they have physical premises, employees, and actual operations in Georgia. “Shell” structures with only a registered agent face enhanced scrutiny.
Digital Updates: Customers can now perform updates through the dedicated portal kyc.bog.ge. Mandatory Information for the Updated Form bank of georgia kyc form updated
: Clear proof of business or professional activity is required, such as employment contracts, signed client agreements, or business certificates. Stricter Scrutiny Crypto Assets Bank of Georgia (BOG) has updated its "Know
- Documents Verified: [ ] ID [ ] Proof of Address [ ] Corporate Extract
- Risk Classification: [ ] Low [ ] Medium [ ] High
- Officer Name & Signature: ________________________________________________
B. For Legal Entities (Corporate & SME Clients)
| Old Field | Updated Field (2026) | Why It Changed | | :--- | :--- | :--- | | One director listed | All directors + all ultimate beneficial owners (UBOs) with 0.1%+ stake | NBG ownership rule | | Simple company seal | Digital signature or wet-ink stamp + apostilled board resolution | Prevent forged authorizations | | Business activity description (free text) | Specific NACE code (Georgian version) + proof of operational license | Industry-specific risk scoring | | No requirement for related party disclosure | Affiliated entity schedule (must list all subsidiaries, parent companies, and sister concerns) | Global group risk consolidation | Ultimate Beneficial Owner (UBO) Register: The form now
The core requirements have shifted from a "passport-only" model to a more detailed "economic interest" model. Banks now require a coherent explanation for why you need a Georgian account. Standard Documents for Individuals:
