Other services - Georgia

10.09.2018

Bridge settlement

Georgian securities are not eligible for settlement through the Bridge with Euroclear Bank.

Securities lending and borrowing

Georgian securities are not eligible for CBL’s securities lending and borrowing programme.

Disclosure requirements

Please refer to the Disclosure Requirements - Georgia.

Holding restrictions

Please refer to the Investment regulation section of the Market Profile - Georgia.

Tax services

Government debt and corporate debt issued in Georgia by international financial institutions (IFIs) or supranational organisations (as defined by the ordinance issued by the Government of Georgia) as well as CBL eligible corporate bonds are exempt from withholding tax based on the following articles of the Georgian Tax Code.

Article 131, "Taxation of interest at the source", Article 82, "Exemption from the income tax” (for individuals) and Article 99 “Exemption from corporate income tax” (for legal entities) state that the following are exempt from taxation in Georgia:

  • Interest on income received from government or the National Bank of Georgia debt securities;
  • Surplus income or profit received from the sale of government or the National Bank of Georgia debt securities;
  • Income received from the interest accrued on the funds deposited on the accounts at the National Bank of Georgia;
  • Interest on income from licensed financial institutions (such as commercial banks, insurance companies, etc.);
  • Interest on income received from IFIs or supranational organisation debt securities;
  • Surplus income or profit from the sale of IFIs or supranational organisation debt securities;
  • Interest on free float corporate debt securities listed on recognised stock exchanges (as defined by the Georgian Law);
  • Surplus or profit from free float corporate debt securities.
  • Following the amendments to the Georgian Tax Code (bill number N1935-RS) effective 1 January 2018, non-resident corporate or individual holders and resident individual holders of Georgian listed corporate bonds issued prior to 2023 (and which are CBL eligible) are exempt from capital gain and interest income (withholding) taxes.