What we do in this area.
Metric Law/Tax provides legal support to clients seeking regulatory licenses and authorizations from financial supervisory authorities in Georgia and internationally. Metric Law/Tax advises on licensing and registration requirements applicable to regulated activities including banking and non-bank financial services, payment services, electronic money, virtual asset service providers (VASP), and other regulated business models. Services include regulatory analysis, licensing strategy, the preparation and review of license applications and supporting documentation, and assistance with internal policies, governance, and compliance frameworks required by regulators.
What this service covers.
1. Regulatory Analysis & Licensing Strategy
Assessment of applicable licensing requirements for the business model in each relevant jurisdiction, including identification of the most appropriate regulatory pathway and jurisdiction of authorization.
2. VASP & Crypto Asset Service Provider Registration
Legal support for the registration and licensing of virtual asset service providers under applicable Georgian and international regulatory frameworks, including preparation for MiCA related compliance requirements in the EU.
3. Payment Services & E-Money Licensing
Advice on licensing requirements for payment institutions and electronic money institutions in Georgia and relevant European jurisdictions, including passporting and cross-border service provision.
4. License Application Preparation & Review
Preparation and review of complete license applications, regulatory business plans, AML/CFT policies, governance frameworks, and all documentation required by the relevant financial regulator.
5. Internal Compliance Frameworks
Assistance with the design and implementation of internal policies, compliance procedures, and governance structures required as conditions of licensing, including AML/KYC frameworks and robust risk management systems.
6. Post-Licensing Compliance & Regulatory Relations
Ongoing legal advice on regulatory obligations following license issuance, including periodic reporting, supervisory notifications, the management of regulatory inspections, and regulatory correspondence.
Jurisdictions covered.
What clients should know.
1. Georgia has established an accessible VASP registration framework, making it a practical jurisdiction for digital asset businesses.
2. EU MiCA regulation significantly transforms the licensing landscape for crypto asset service providers targeting EU markets.
3. Regulatory licensing timelines vary significantly between jurisdictions — early engagement with the regulator is strongly advisable.
4. Regulators typically require evidence of adequate financial resources, fit and proper management, and robust AML/CFT systems.
5. Licensed entities face ongoing compliance obligations — failure to maintain compliance can result in license suspension or revocation.
6. EU passporting of licenses is available in certain regulated categories but requires careful advance planning