Steam and Individual Entrepreneurs in Georgia: How to receive payments from Valve, save the 1 % tax, and avoid losing out on commissions

In short — a 30‐second solution

Valve (Steam) pays publishers and developers via electronic bank transfer—ACH for the US and USD SWIFT (wire) for banks outside the US; payments are made approximately 30 days after a sale and upon reaching the minimum threshold. If you’re operating from Georgia, the logical course of action is:

1. register as an Individual Entrepreneur,
2. apply for Small Business Status (1 %) if you meet the requirements,
3. enter correct bank details (USD account, SWIFT details) in Steamworks or coordinate with your payment provider,
4. make a test withdrawal,
5. maintain records, and pay a 1 % tax on turnover.

How Steam Pays: Key Points

• Valve pays sales via wire transfer: ACH for US banks and USD SWIFT (wire) for non-US banks. Payments are delayed—approximately 30 days after the sale; the minimum payout threshold is typically $100.
• In practice, this means you need a bank account that can accept incoming USD-SWIFT payments (details: BIC/SWIFT, account number/IBAN or equivalent, recipient’s full name, and bank address). Some developers use intermediaries (virtual USD accounts with Payoneer/Wise), but this should be checked separately for compatibility with Steam.

Why is registering as an individual entrepreneur in Georgia beneficial (and where is the 1 % fee?)

• In Georgia, registering as a sole proprietor (IE/SP) is quick and easy — the process typically takes from a few hours to one business day (through the Public Service Hall or through an intermediary).
• Many freelancers and developers enjoy the Small Business Status regime, with a tax rate of 1 % of annual turnover, subject to certain limits. In 2024—2025, the threshold was discussed at around GEL 500,000, and for certain sectors and upgrades, up to GEL 700,000. It’s best to check the rules and thresholds at the time of application.

Practical Sequence — From Registration to Your First Payout from Steam

Step 1 — Preparation (before registering with Steamworks)

Decide on your legal form: for most solo developers/individuals, it’s Individual Entrepreneur. Have your passport/ID and address ready.

Step 2 — Register as an Individual Entrepreneur and (optionally) Apply for Small Business Status

Register as an Individual Entrepreneur in the Public Service Hall or through an agent. If you plan to stay within the turnover limit, simultaneously apply for Small Business Status (1 %) with the tax office. This will provide a very favorable tax rate.

Step 3 — Settings in Steamworks / Partner Portal

In Steamworks → Payments / Payouts, enter your bank details for receiving USD SWIFT wire (recipient’s full name, address, SWIFT/BIC, account number/IBAN, or local equivalent). Make sure your bank accepts incoming USD‐SWIFT. Valve sends payments after approximately 30 days and only if ≥ $100 has accumulated in the previous month.

Step 4 — Test the payment channel

Before making major payouts, try running a small test (if you can receive a payout from a small amount) or wait for the first payout and check its progress: what arrived in your account, what amounts were lost due to correspondent fees, and what conversion rates your bank applied. This is a key step: real fees are always higher than theoretical ones.

Step 5 — Optimize Conversion and Accounting

If Steam pays in USD, it’s best to have a bank/account that accepts USD and offers a favorable conversion rate to GEL if needed. Consider options such as a local bank with a USD account, Payoneer/Wise (check compatibility with Steam), or holding a portion of your funds in USD and transferring them when the rate is favorable. Keep a spreadsheet: sale date, USD amount, payout amount, deductions (correspondents), and the total GEL at the current exchange rate.

What issues/specificities should you consider in advance?

• SWIFT correspondent fees. Wire transfers often incur fixed fees from intermediary banks (e.g., $15—$30), especially noticeable with small payouts. Plan your payout threshold and/or use a provider that minimizes correspondent fees.
• Minimum threshold and terms. Valve pays with a delay (approximately 30 days) and has a threshold (approximately $100), so you may accumulate a balance in the first few months.
• Changes in rules/local practices. Banks and providers change their rates; check actual incoming amounts and record the exchange rate and fees for tax purposes.

Taxes and reporting: how to calculate (basics)

• If you received SBS (1%), the tax is paid as 1 % of the annual turnover (within the limit). Foreign currency receipts (USD) are converted to GEL at the rate established in your accounting practice (record the date and rate). Keep all SWIFT confirmations and statements from your bank/provider — they will be useful for reporting.
• If SBS is not suitable, the standard tax rate for individual entrepreneurs may be different (e.g., 20 % of profit, etc.). Check with your accountant in advance.

Practical tips for reducing losses

1. Keep your USD account in a Georgian bank or with a trusted provider to accept SWIFT without instant conversion. Convert to GEL manually when the rate is favorable.
2. Check with your bank for incoming SWIFT fees (fixed + percentage). If your bank is charging a premium, check Payoneer/Wise receiving options and Steam compatibility (confirm with Valve/Steamworks support).
3. Set a price and plan your payout threshold to minimize the effect of fixed correspondent fees (frequent, small payouts incur large relative losses).
4. Keep track in a simple table: month, sales (USD), Valve payout, correspondent withheld, received in account (USD), rate, GEL total — this will immediately give you a realistic picture of the net amount.

A quick "do it now" checklist

• Register as an Individual Entrepreneur in the Public Service Hall or through an agent.
• Apply for Small Business Status (1 %) if your estimated turnover falls within the limit.
• In Steamworks Partner → Payments, add USD SWIFT details (SWIFT/BIC + account number), and verify the details’ format with your bank.
• Run a test/wait for the first payment and record the receipt: how much was spent on correspondents, the exchange rate, and the total in GEL.
• Set up an accounting table (sale date, USD amount, withheld, received, exchange rate, total in GEL) and agree on the reporting format with your accountant.

Conclusion

For game and digital product developers, Steam remains a reliable platform: payments are regular (EFT/ACH in the US, USD SWIFT for the rest of the world) and are easy to integrate into a Georgian sole proprietorship structure. The key is to set up the correct bank details in advance, test real transfers, and, if possible, obtain Small Business Status (1 %) to reduce the tax burden.