So, you’re thinking about starting a crypto business in Georgia in 2025? Great choice! This country isn’t just famous for its wine and mountains — it’s also becoming a crypto hotspot. But wait, before you jump in, you need a license. There are two popular options: the VASP license and the FIZ license. Let’s break them down in a fun, simple way so you know which one suits your crypto dream best!
What Is a VASP License?
VASP stands for Virtual Asset Service Provider. This license is Georgia’s official approval for businesses that handle digital assets. If you want to run a crypto exchange, wallet service, or provide investment services, you’ll likely need a VASP.
Here’s what makes the VASP license cool:
- Regulated by the National Bank of Georgia – Yes, it’s legit.
- Great for exchanges and crypto platforms.
- Helps you build trust with clients and partners.
But it’s not just fun and games. Getting a VASP license means you’ll have to follow anti-money laundering (AML) rules, follow KYC (Know Your Customer) steps, and keep proper records.
What About the FIZ License?
FIZ stands for Free Industrial Zone. These are special areas in Georgia where businesses get amazing tax breaks. You read that right — amazing tax breaks!
Here’s why a FIZ license might make you smile:
- Zero corporate tax
- No VAT
- No tax on dividends
Sounds dreamy, right? But there’s a twist. FIZ licenses are more about location than activity. Your business must physically operate inside a Free Industrial Zone. Think warehouses, servers, computers — the whole setup. If you want your company to look like a futuristic crypto startup, this might be the playground for you.
VASP vs FIZ: The Showdown
Now, let’s put these two head-to-head. Which one wins depends on your business goals. Check out this fun comparison:
| Feature | VASP License | FIZ License |
|---|---|---|
| Regulation | National Bank of Georgia | FIZ Authority (less strict) |
| Tax Benefits | Standard Taxes | Excellent — Almost zero! |
| Setup Cost | Medium | Low to Medium |
| Flexibility | Operate anywhere in Georgia | Must operate in a FIZ zone |
| Suitable For | Crypto exchanges, wallet services, investment platforms | Mining farms, blockchain hardware, data storage businesses |
Which One Is Best in 2025?
There’s no one-size-fits-all answer — sorry! But here’s some guidance:
- Go for VASP if you plan to offer services, build customer trust, or scale across borders.
- Choose FIZ if your business is more infrastructure-heavy and you love tax benefits.
And remember, you can technically have both in some cases. Start with one, grow your biz, and then expand as needed!
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Get Help From Experts
Licensing in Georgia may be easier than other countries, but it’s still complex. Filing documents, meeting requirements, and staying compliant can be tricky. That’s why it’s smart to work with local professionals who know the game.
They’ll help you:
- Pick the right license
- Handle legal stuff
- Speed up the process
The Bottom Line
Georgia is a crypto-friendly country with two tasty licensing options — VASP and FIZ. Each one has its own flavor. Do you want solid regulation and professional services? Pick VASP. Need low taxes and love zone-based business? Go for FIZ.
Either way, 2025 is a fantastic time to start your crypto journey in the land of khachapuri and innovation!