Before submitting the new KYC form, ensure you have:
Bottom Line: While the updated KYC form is more intrusive and time-consuming, it is designed to protect Bank of Georgia’s access to the global SWIFT system. Submitting accurate information immediately is the only way to ensure uninterrupted banking services.
For the official PDF version of the updated form, visit [Bank of Georgia’s official website] or contact your relationship manager.
The Bank of Georgia (BOG), recently rebranded as part of the Lion Finance Group PLC, has implemented updated Know Your Customer (KYC) requirements as of May 2026. These updates align with the National Bank of Georgia’s strict anti-money laundering (AML) protocols and the country's commitment to the Common Reporting Standard (CRS). Overview of Updated KYC Requirements
The updated KYC form is now more rigorous, particularly for non-residents and foreign entities. The process has transitioned from simple identity verification to a deep dive into the economic substance and source of funds.
Mandatory Digital Onboarding: BOG has shifted toward digital-first onboarding, requiring most KYC data to be submitted via their official portal or mobile app.
Verification of Economic Interest: Foreign applicants must now provide concrete proof of their "economic interest" in Georgia, such as a rental agreement, employment contract, or business registration.
Tax Residency Disclosure: Under CRS, BOG must collect and exchange tax information. You are now required to provide your Tax Identification Number (TIN) from your country of residency. Essential Documentation for 2026
When filling out the updated form, ensure you have the following documents ready in PDF or high-quality image format: Lion Finance Group PLChttps://lionfinancegroup.uk Our history | Lion Finance Group PLC
The mandate is retroactive and proactive. You are required to submit the Bank of Georgia KYC form updated version if:
Important: Failure to submit the updated form by the deadline will result in gradual restriction – first, outgoing SWIFT transfers are frozen; then debit cards are suspended; finally, the account becomes "view-only" with no transaction capability.
In compliance with Anti-Money Laundering (AML) regulations, Bank of Georgia requires information regarding the origin of funds.