JSC Terabank - YB Case 2024

JSC Terabank GEO

JSC Terabank GEO

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JSC Terabank was founded in Tbilisi in 1999 and almost immediately took its rightful place in the financial market of Georgia. Interestingly, one of the main owners of the bank is the owner of the Dhabi Group and, at the same time, the Minister of Culture of the United Arab Emirates, owning 45% of the shares. For reference, Dhabi Group is a leading business coalition in the UAE, which is engaged in several areas at once: from tourism and finance to construction and production.

If you have decided to start a business in Georgia, we will provide you with qualified advice on how to open an account with Terabank.

Benefits of JSC Terabank

  • The bank is reliably protected by Arab capital invested in the country.
  • A staff speaks in English, Georgian and Russian.
  • A time for opening a bank account with Terabank is 1-2 weeks.
  • You can open both personal and corporate bank account with JSC «Terabank».
  • A bank can also open multicurrency accounts in such currencies as GBP, EUR, USD, GEL.
  • There are no requirements for initial contribution or minimum capital.
  • You can manage your account via the Internet and mobile banking.

Documents for opening an account with Terabank:

  • A company Charter (with all amendments);
  • MOA;
  • A certificate of incorporation;
  • A document on the appointment of the manager (the appointment of directors, a Power of attorney or other document);
  • Certificates of shareholders/directors/legal address; a trust declaration (if applicable).
  • Good Standing Certificate (for companies older than 6 months);
  • Certificate Incumbency (for companies older than 6 months);

* These documents must be apostilled in compliance with the Hague Convention, 1961

** Solicitor certification is suitable for English companies

Also, for account opening with TeraBank you will need documents on the beneficiary of the company:

  • an internal passport with notarized translation into English;
  • CV resume
  • recommendation from other banks;
  • documents, confirming the legal source of income of the beneficiary.

Briefly about tariffs

  • A bank offers free internet banking and statements.
  • A bank commission for opening a bank account with JSC Terabank is 3,5 USD.
  • Maintaining bank account is 0,50 USD/per month.
  • Digipass is 6,5 USD.
  • Withdrawals are 0,5%.

YB Case experts note, if you decide to open a bank account with JSC «Terabank», remember, that this bank guarantees to its clients the complete confidentiality of both deposits and any queries. In order to save time and money we recommend you asking for personal advice on opening accounts in Georgia with the employees of our company.

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