How to Receive Payments as a Georgian Individual Entrepreneur
You registered your Georgian Individual Entrepreneur. Now the question everyone asks: how do you actually get paid? Stripe, PayPal, Wise, bank transfer — what works, what does not, and what does the Revenue Service care about.
This is one of the most common questions after registration and one of the least clearly answered. The short version: multiple options work well, some have significant limitations, and what matters most for your tax declarations is that the money lands somewhere documented and traceable. Here is the full picture.
What the Revenue Service Actually Cares About
Before going through the individual platforms, it is worth understanding what matters for your 1% tax declarations. Every month by the 15th, you declare your gross turnover for the previous month. That turnover needs to be documented — typically through bank statements showing what came in.
As an Individual Entrepreneur, your business is legally attached to you personally — so income can technically be received into any bank account in your name, including foreign accounts. However, a dedicated Georgian business account is strongly recommended because it makes your monthly declarations significantly cleaner and reduces the risk of questions from the Revenue Service.
Stripe — The Honest Situation
Stripe is the most common question and the most complicated answer.
Stripe does not currently support Georgia as a country for domestic merchant accounts. You cannot register a Stripe account with Georgia as your business country and receive direct payouts to a Georgian bank account through Stripe's standard setup.
However, Georgian Individual Entrepreneurs use Stripe in practice through workarounds:
Option 1: Stripe via a Foreign Entity
If you have a company registered in a Stripe-supported country (Estonia, UK, US, etc.), you can process payments through that entity and transfer profits to Georgia. This is more complex to manage and requires maintaining two business structures, but it works.
Option 2: Stripe via Wise or Payoneer
Some entrepreneurs register a Stripe account with a Wise or Payoneer virtual business account address in a supported country, receive Stripe payouts into Wise/Payoneer, then transfer to their Georgian bank. This is a grey area in Stripe's terms of service and carries the risk of account closure. Not recommended as a primary strategy.
The Practical Conclusion on Stripe
If Stripe is essential to your business model — because your clients expect to pay via Stripe's checkout, or you use Stripe for subscription billing — Georgia is not your easiest base. If you are invoicing clients directly via bank transfer or using other payment methods, the Stripe limitation matters much less.
Wise (formerly TransferWise) — The Best Option for Most IE Owners
Wise is the most practical solution for most Georgian Individual Entrepreneurs and the one we see working most reliably in practice.
| Feature | How It Works for Georgian IEs |
|---|---|
| Receiving payments | Clients pay your Wise account (EUR, USD, GBP, etc.) via bank transfer. Wise holds the funds. |
| Currency conversion | Convert to GEL at the mid-market rate — significantly better than bank rates |
| Transfer to Georgian bank | Send GEL to your TBC or Bank of Georgia account. Typically arrives same day. |
| Documentation | Wise provides monthly statements — usable for Revenue Service declarations |
| Cost | Low fees — typically 0.4-0.8% on currency conversion |
| Business account | Wise Business available — provides multiple local account details (EUR IBAN, GBP sort code, USD routing number) |
The typical flow for a freelancer: client pays Wise EUR account → convert to GEL → transfer to Georgian business bank → declare on monthly Revenue Service form. Clean, documented, and tax-compliant.
When income arrives in Wise in EUR or USD and you convert it to GEL, the Revenue Service uses the official National Bank of Georgia exchange rate on the date the income was received — not the date you converted it. Keep records of the receipt date for each payment, not just the conversion date.
PayPal — Available But With Limitations
PayPal is available in Georgia but comes with specific limitations that make it less ideal as a primary payment method for IE owners.
| Issue | Detail |
|---|---|
| Withdrawing to Georgian banks | PayPal withdrawals require a Visa card — Mastercard is not supported. Withdrawals go to the card, not directly to the bank account. |
| Fees | PayPal's international transaction and currency conversion fees are significantly higher than Wise |
| Documentation | PayPal statements are usable for Revenue Service declarations but less clean than bank records |
| Business account | PayPal Business accounts available in Georgia |
| Reliability | Mixed reports on Georgian Visa card withdrawals — some users report occasional issues |
PayPal is acceptable if your clients specifically require it. For clients who are indifferent, Wise or direct bank transfer is simpler and cheaper.
Payoneer — Best for Freelance Marketplaces
If you work through freelance marketplaces — Upwork, Fiverr, Toptal, Amazon, or similar — Payoneer is often the most practical solution. Most major freelance platforms support Payoneer payouts directly.
Fees are slightly higher than Wise on currency conversion, but if your platforms pay via Payoneer by default, it is the path of least resistance.
Direct Bank Transfer (SWIFT) — The Cleanest Option
For clients who pay by bank transfer, a direct SWIFT payment to your Georgian TBC or Bank of Georgia business account is the cleanest option from a tax compliance perspective.
| Currency | How It Works |
|---|---|
| EUR | Client sends EUR SWIFT to your Georgian EUR account. Arrives 1-3 business days. |
| USD | Client sends USD SWIFT to your Georgian USD account. Arrives 1-3 business days. |
| GBP | Less common at Georgian banks — EUR or USD preferred for international transfers |
| GEL | Domestic transfer within Georgia — instant |
Both TBC Bank and Bank of Georgia issue EUR and USD IBANs alongside your GEL account. Give clients your IBAN and SWIFT code — the money arrives directly into your Georgian business account with a clean paper trail for declarations.
The Recommended Setup for Most IE Owners
Based on what works in practice for Legal Vista clients:
| Your situation | Recommended setup |
|---|---|
| Invoicing corporate clients directly | SWIFT bank transfer to Georgian business account (primary) + Wise as backup for clients who prefer it |
| Working through Upwork / Fiverr / marketplaces | Payoneer for platform payouts → transfer to Georgian bank |
| Mixed client base, various currencies | Wise Business account to collect and convert → transfer to Georgian bank for declarations |
| Clients who require Stripe | Consider a foreign entity alongside Georgian IE, or use Wise as intermediary (with caveats) |
| Clients who require PayPal | PayPal Business account + Visa card for withdrawals → Georgian bank |
Questions We Get Asked a Lot
Click any question to expand.
Can I receive payments into a foreign bank account and declare them in Georgia?
Yes — as an IE your business is legally attached to you personally, so income received in a foreign account is still your turnover and must be declared. However, declaring income from foreign accounts requires solid documentation (foreign bank statements with dates and amounts) and more careful record-keeping. A Georgian business account is much simpler for monthly declarations.
What exchange rate do I use when converting foreign income for my declarations?
The official National Bank of Georgia exchange rate on the date the income was received — not the date you converted it or the date you filed your declaration. If you received EUR 5,000 on the 15th of the month, convert it using the NBG EUR/GEL rate for that date. Your accountant handles this in your monthly declaration.
Is Stripe available in Georgia?
Stripe does not support Georgia as a merchant country — you cannot register a standard Stripe account with Georgia as your business location and receive payouts to a Georgian bank. Some entrepreneurs use Stripe through a foreign entity or via Wise intermediary accounts, but these involve workarounds with limitations. If Stripe is critical to your business model, discuss your specific setup with Legal Vista before registering in Georgia.
Do I need to declare income received via Wise or Payoneer?
Yes — all income from your IE activity must be declared, regardless of which platform or account it arrives in first. Income arriving via Wise, Payoneer, or PayPal before being transferred to your Georgian bank is still your turnover and must be included in your monthly declaration. Your accountant will ask for statements from all platforms where you receive payment.
Can I use Revolut for my Georgian IE payments?
Revolut is available in Georgia and can be used to receive and hold payments. However, Revolut accounts are e-money accounts rather than bank accounts — Georgian banks and the Revenue Service prefer to see income flowing through a Georgian business bank account for declaration purposes. Revolut can work as a supplementary tool but should not be your primary account for IE income.
