In short
Georgia is not part of the SEPA area, so the purchase price goes by SWIFT transfer, and intermediary banks may take fees on top of your own bank's charge. Pay only into the account named in the sale contract and held in the developer's name. German residents must report every payment above EUR 50,000 to the Bundesbank.
The transfer in four stepsGermany's reporting threshold under section 67 AWV has been EUR 50,000 since 1 January 2025. The EUR 12,500 still quoted in many places no longer applies.
Opening a bank account in GeorgiaRules and limits
As of November 2026. Thresholds change, so check with the body named before a large payment.
Georgia is not on the European Payments Council's list of countries in the SEPA area. The National Bank of Georgia applied to join in September 2022, and the December 2025 list still does not include it. A transfer on SEPA terms is therefore not possible.
German residents report payments to non-residents to the Bundesbank when they exceed EUR 50,000 (section 67 AWV). Until the end of 2024 the threshold was EUR 12,500. Transfers of crypto assets also count as payments. The report is statistical: it is neither an approval nor a tax return.
In Austria, the central bank (OeNB) surveys purchases and sales of foreign property by residents worth EUR 100,000 or more (the AWVLM survey, due by the 15th of the following month). In Switzerland, the Swiss National Bank decides who takes part in its statistical surveys and tells those concerned. UK buyers should ask their bank what it needs for a large overseas payment.
Anyone carrying EUR 10,000 or more in cash into or out of the EU must declare it to customs (Regulation (EU) 2018/1672). Cash includes bearer cheques and gold coins or bars.
Georgia requires a customs declaration on entry and exit for cash, cheques and securities above GEL 30,000 or the equivalent in another currency. Cash is unsuitable for the purchase price itself: without a bank transfer you have no proof of payment.
Process
How a deposit or instalment reaches the developer. Repeat the steps for every payment, not just the first one.
Compare the IBAN, BIC and account holder with the signed contract. Georgian IBANs start with GE and have 22 characters. The holder must be the developer itself, not an individual and not another company.
Many contracts state the price in US dollars. Ask which currency the receiving account is held in. If the money is converted along the way, the converting bank's rate applies, margin included.
Put the contract number, apartment number and your name in the payment reference. Choose the charging option deliberately. With OUR you pay all fees. With SHA they are shared, and intermediary banks deduct their share from the amount, so the developer receives less than the instalment due.
Ask for written confirmation of the amount received. Keep the payment order, your bank's transfer confirmation and the receipt. You will need them for registration, for tax and when you sell.
German residents report payments above EUR 50,000 to recipients abroad by the 7th working day of the following month. The Bundesbank names its General Statistics Reporting Portal (AMS) as the simplest route. Individuals may report up to three such payments by phone or email. The duty is yours as the payer, not your bank's (section 67(1) AWV).
With a payment plan, check each instalment separately: if it exceeds EUR 50,000 it is reportable. Watch the due dates, as a SWIFT payment often takes several banking days.
Frequently asked questions
SEPA, reporting, currency, changed bank details and crypto.
No. Georgia is outside the SEPA area, so you pay by SWIFT. Your bank charges an international transfer fee, and intermediary banks may deduct more from the amount. Your bank's tariff lists its charges.
In Germany, yes, if you are resident there and the payment exceeds EUR 50,000. The report goes to the Bundesbank by the 7th working day of the following month. It is for statistics and has nothing to do with tax or approval. Other countries have their own rules.
That depends on the contract currency and the currency of the receiving account. Every conversion costs you the spread between buying and selling rates. Ask beforehand which bank converts and at what rate, and compare it with the National Bank of Georgia's official rate.
Do not pay until the developer has confirmed the change in writing and you have checked it by calling a number you already know. Changed bank details by email are a common fraud pattern. The account in the contract or a signed addendum is the one that counts.
Some sellers advertise it. A crypto payment is hard to recover, the proof of payment is weaker, and banks will ask where the money came from when you convert it later. Pay the purchase price by bank transfer to the contract account.
Last reviewed on November 2, 2026. Sources: European Payments Council (europeanpaymentscouncil.eu): EPC List of Countries in the SEPA Schemes' Geographical Scope, version 8.0 of 24 December 2025, National Bank of Georgia (nbg.gov.ge): application for SEPA membership, September 2022, German Foreign Trade and Payments Ordinance (AWV), sections 67 and 71(6) (gesetze-im-internet.de), Deutsche Bundesbank (bundesbank.de): payment reports by individuals; FAQ on cross-border payment reports; information on the AWV amendment in force from January 2025, Oesterreichische Nationalbank (oenb.at): AWVLM report on cross-border capital transfers and real estate, Swiss National Bank (snb.ch): information on reporting for surveys, Regulation (EU) 2018/1672 on controls on cash; German customs (zoll.de), Revenue Service of Georgia (rs.ge): guide to crossing the customs border of Georgia, SWIFT IBAN Registry: Georgia (GE), 22 characters. This guide is not legal or tax advice.
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