How to Open a Credo Bank Business Account for an Individual Entrepreneur Remotely

A Georgian Individual Entrepreneur can apply for a Credo Bank business account remotely through an authorized representative in Georgia — no trip to Georgia, though a notarized power of attorney is required.

mono helps prepare the application, provides instructions for the power of attorney, and supports the process until the account is activated.

Who is this business account suitable for?

This service is intended for Individual Entrepreneurs registered in Georgia who need a dedicated account for receiving business income and managing entrepreneurial transactions. A separate business account helps distinguish personal and business funds, receive payments from clients, make transfers, manage expenses, and maintain a clear record of business activity.

The client receives a business account, access to Credo Bank’s digital banking services, and a digital bank card.

How does the process work?

1. Complete the applicationProvide your passport details, Georgian Individual Entrepreneur registration details, country of residence, contact information, description of business activity, source of income, expected turnover, and information about clients and counterparties.
2. Prepare the power of attorneymono provides the required power-of-attorney text and instructions. The document must be notarized and, where required, apostilled or legalized in your country. The original must then be delivered by courier to Georgia.
3. Application submissionOnce the original power of attorney arrives in Georgia, the authorized representative submits the business account application to Credo Bank on your behalf.
4. Bank reviewCredo Bank reviews the application. Communication with the bank takes place through its general customer support. The bank may ask questions or request documents confirming the entrepreneur’s activity, clients, contracts, source of funds, expected transactions, or tax status.
5. Approval and account activationIf the application is approved, the authorized representative signs the required banking documents and activates the business account.
6. Access to business bankingYou receive access to Credo Bank’s digital banking services and a digital bank card, and then deal with the bank directly through its app and support. A physical bank card is not provided as part of the remote account-opening service.

What documents may be required?

The basic documents normally include:

• a valid passport;
• Georgian Individual Entrepreneur registration extract;
• Georgian tax identification details;
• notarized power of attorney;
• description of the business activity.

Depending on the entrepreneur’s profile, Credo Bank may also request:

• contracts with clients or service providers;
• invoices or proof of previous payments;
• personal or business bank statements;
• documents confirming the source of funds;
• information about expected monthly turnover;
• details of clients, suppliers, and counterparties;
• website, professional profile, or other evidence of active business operations;
• additional documents required by the bank’s compliance department.

The final list of required documents is determined by Credo Bank after reviewing the application.

Additional expenses

How long does it take?

The application process begins after all required information has been provided and the original power of attorney has arrived in Georgia. The total timeframe depends on document delivery, the bank’s review, and whether additional information is requested. mono cannot guarantee a specific opening date because each application is reviewed individually under Credo Bank’s internal compliance procedures.

Is account approval guaranteed?

No. mono prepares the application, organizes its submission through the authorized representative, and supports the process, but the final decision is made solely by Credo Bank. Using mono’s services does not guarantee account approval.