FAQ

Yes, brokerage accounts can be opened for legal entities.

Yes, it is straightforward to transfer both cash and assets between G&T Trader and G&T Execution brokerage accounts.

No, there are no account inactivity fees.

Please initiate the account closure process by contacting us at sales@gt.ge from your authorized email address.

Service agreements for the Execution Brokerage account can be found on this link. In order to see the service agreements for G&T Trader account please follow click on this link.

We do not have any minimum capital requirements.

On November 30, 2022, the Tax Code of Georgia was amended to include Article 702. This amendment requires financial institutions to request tax residency information from their customers, which includes details of the country where they are considered tax residents.

For the full text of the amended Tax Code of Georgia, please visit the link.

The definition of tax residency varies by jurisdiction. More information can be found on the Organization for Economic Co-operation and Development (OECD) website.

The Common Reporting Standard (CRS) is an international initiative aimed at preventing tax evasion by exchanging tax residency information among countries that participate in the CRS system.

Under the CRS, financial institutions are required to collect and report customer tax residency information to the Revenue Service. Galt & Taggart, therefore, asks customers to complete a self-declaration when opening new accounts, investing in new financial products, or making any changes to their accounts.

According to the CRS, Galt & Taggart requires customers to provide the following information:

• Name, surname
• Address
• Place of birth
• Date of birth
• Country of tax residence
• Taxpayer Identification Number (TIN)

To submit tax residency information to Galt & Taggart, customers need to provide the country where they hold tax residency and their taxpayer identification number via email. If the country does not issue a TIN, this should be indicated as well.

Failure to provide the required information may result in Galt & Taggart refusing to open an account or closing an existing account. Additionally, if tax residency in a foreign country is identified, Galt & Taggart is obligated to report this information to the Revenue Service.

If you have undeclared income and are also a tax resident of a foreign country, you are required to complete a self-declaration.

The information of individuals or entities who are tax residents of a foreign country, or are believed to be tax residents of a foreign country and have not submitted this information to Galt & Taggart, will be reported to the Revenue Service.

Under the CRS, financial institutions are required to determine the tax residency status of all customers, regardless of their nationality or place of residence.

Note:

• If a customer is a tax resident of a country other than Georgia, their information will be shared with the Revenue Service.
• If a customer is only a tax resident of Georgia, no information will be shared with the Revenue Service.