Strict regulations imposed by the National Bank of Georgia (NBG) and a complex authorization process require deep knowledge, proper strategic planning, and effective communication with the regulator.
LC HUB offers comprehensive services, guiding companies from registration all the way to full operational readiness. We help clients successfully navigate the complex stages of authorization and licensing to ensure full compliance with regulatory requirements.
This service is intended for any legal entity wishing to provide financial or virtual asset (crypto) services within the territory of Georgia:
Payment Service Providers (PSP)
Virtual Asset Service Providers (VASP / Crypto Services)
Microfinance Organizations (MFO) and Microbanks
Currency Exchange Offices
Lending Entities
And other financial institutions
Our services are structured into 4 main stages:
1. Corporate Setup & Feasibility
Company registration in the Public Registry (with the necessary activity codes and capital structure);
Analysis of the business model and determination of compliance with regulatory requirements;
Defining requirements related to charter capital, ownership structure, and Ultimate Beneficial Owners (UBO).
2. Licensing & Authorization
Preparation of the full application package and submission to the National Bank of Georgia (NBG);
Complete management of communication and representation before the regulator (NBG) throughout the entire review cycle;
Preparation of Fit & Proper Test documentation for founders, directors, and key personnel.
3. Internal Framework & Infrastructure
AML/CFT Compliance: Development of internal control mechanisms, policies, and procedures for Anti-Money Laundering and Countering the Financing of Terrorism (KYC/CDD, transaction monitoring, STR/CTR reporting);
Risk Management: Development of operational, financial, and IT risk management frameworks, as well as Business Continuity Plans (BCP);
IT & Technological Readiness: Verification of operational and technological infrastructure for compliance with regulatory requirements.
4. Operational Readiness & Go-Live
Advisory support in recruiting and training the AML Officer and Compliance team;
Setup of internal audit processes and periodic regulatory reporting systems;
Assistance with bank account opening and final testing of operational processes.