Georgia has officially launched its international licensing regime for iGaming operators, as reported by SBC News citing the Georgian regulator Random Systems Georgia. These licenses do not apply to the domestic market, effectively positioning Georgia as a new offshore jurisdiction.
According to GISG, the exclusive representative for issuing international licenses, the license is granted for a period of five years. It includes the ability to operate corporate services in Georgian banks and accept payments with the gambling code MCC 7995.
Under the licensing conditions, operators are taxed at a rate of 5% on their Gross Gaming Revenue (GGR), while reinvested profits are exempt from taxation. Additionally, there is a 1% fee for regulatory monitoring and an annual licensing fee. The regime also allows for remote licensing without the need for a physical office, and new improvements to the GISG conditions are expected to be announced in October.