The VASP (Virtual Asset Service Provider) license is becoming increasingly popular among crypto companies in Georgia, due to its attractive combination of favorable conditions, availability and ease of obtaining. Unlike other countries, the VASP license in Georgia has a number of advantages, which makes it attractive to those who want to work legally and effectively.

Who is the VASP license in Georgia suitable for?

The Georgian VASP license is ideal for companies looking for a stable and profitable jurisdiction to conduct crypto business. This license will be of interest to:

• Cryptocurrency startups — new companies need flexibility and affordable conditions for rapid growth, and a VASP license in Georgia offers these opportunities.
• Cryptocurrency exchangers and platforms — organizations engaged in the exchange of cryptocurrencies need to minimize costs, and Georgia offers favorable tax conditions and the absence of bureaucratic obstacles.
• International companies working with cryptocurrencies — thanks to low taxes and a simplified licensing system, international firms can significantly reduce their operating costs by using Georgia as a base for entering the markets of Europe and Asia.

Key differences between the Georgian VASP license and other crypto licenses

Compared with European VASP standards

In In Europe, especially in EU countries such as Estonia and Lithuania, the requirements for crypto companies are becoming increasingly strict under AMLD5. Companies are required to adhere to strict KYC standards, have a physical office, local directors, and significant capital. In Georgia, there are no such requirements: licensing is simpler and cheaper, and regulation is more flexible, which attracts companies looking to avoid the strict EU standards.

Compared to Canadian MSB

In Canada, crypto companies are required to follow strict KYC/AML and cybersecurity procedures, similar to financial institutions, which significantly increases the cost of compliance. Georgia, on the contrary, provides a VASP license with lower reporting and capital requirements, which allows crypto companies to focus on business development and minimize operating expenses.

How to get a crypto license in Georgia?

A VASP license in Georgia is an exceptional solution for cryptocurrency companies seeking favorable conditions for legal business. Flexible regulation, a favorable attitude towards cryptocurrencies, tax advantages and the simplicity of the process make this license one of the most attractive on the market.

To obtain a license, it is recommended to contact the specialists of Espero.ge, who will help you understand all the legal and organizational aspects of this process.