The National Bank of Georgia has invited interested financial institutions to participate in a Regulatory Sandbox pilot focused on equity crowdfunding schemes based on the trading of equity securities. Applicants can electronically submit proposed schemes, which will be assessed against the existing legal framework and the National Bank’s Regulation on the Establishment and Use of the Regulatory Sandbox Framework. The pilot is intended to allow participating institutions to test business models in a real environment under pilot-phase restrictions, including financial limits for both investors and project initiators. The National Bank is seeking applications from entities that hold a brokerage licence or are in the process of obtaining one, and expects applications to specify key parameters including the maximum amount per project listed on the platform, the investment limit for an individual project, and the total investment limit per investor. The announcement also noted that the Government of Georgia is developing a dedicated crowdfunding legal framework, with a draft law expected within the next two years, and clarified that participation should not be construed as a commitment to grant any licence, registration, recognition, or authorisation. The National Bank will accept applications starting May 1, 2025.

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