Open a company in Azerbaijan

The small state of Azerbaijan is located in the Transcaucasus and has access to the Caspian Sea. The country demonstrates high rates of economic growth. The most developed areas: oil and gas production, industry, agriculture, tourism.

In a jurisdiction that is actually not offshore, the middle class is just beginning to emerge, along with this, the state attracts foreign investors, is of interest for business development from scratch. According to the World Bank's 2019 Doing Business report, the country was ranked 9th in the world in terms of ease of starting a business.

Official language

Azerbaijani

Legal forms of companies

• OOO;
• society with additional liability;
• open joint stock company;
• closed JSC;
• branch, representative office of a foreign company.

Capital

Baku

Major cities

Ganja, Sumgayit, Lankaran

Form of government

Presidential republic

Legal system

Continental

Currency

Manat

Registration fee

What's included

1. Consultation of a specialist in corporate, international law, taxation.
2. Checking the uniqueness of the selected name.
3. Due Diligence.
4. Preparation of constituent documents.
5. Paying fees and charges.
6. Printing.

For entrepreneurs from Ukraine, legalization and apostille of documents are not required.

Documents required from the beneficiary

1. Application certified by an Azerbaijani notary.
2. Charter
3. Memorandum of Association.
4. Receipt of payment of state duty.

Documents provided after registration

1. Charter
2. Memorandum of Association.
3. Print.
4. Certificate of company registration.

Working algorithm

1. We provide consultations by phone or in person at our office in Kyiv.
2. We organize the procedure for verifying the beneficiary – Due Diligence.
3. Preparing the necessary documents.
4. Let's organize notarization of documents.
5. We register a company in Azerbaijan.
6. We send you a package of documents for the company.

If necessary, we will help with opening a bank account in the jurisdiction.

Principles of jurisdiction

1. Legalization of documents is not required.
2. Simplicity and transparency of the procedure.
3. No capital requirement.
4. High economic growth.
5. European Business Standards

Disadvantages of jurisdiction

Quite high taxes. Income tax – 20% VAT – 18%.

List of banks in jurisdiction

1. International Bank of Azerbaijan.
2. Access Bank.
3. Azerbaijan Industry Bank.
4. Azer Turk Bank.
5. Bank of Baku.

Company requirements

At least one director is required to open an LLC, preferably – local, although there are no requirements for residency of the head of the legislation. The founder cannot be another legal entity consisting of one person. Participants are liable within their own shares.

An ALC can be created by one or more founders who are liable for their obligations with personal property equal to the amount of their capital.

Joint stock companies can be created by individuals and legal entities. The name must be unique.

Corporate law

• Civil Code of the Republic of Azerbaijan (1999);
• Law "On Entrepreneurial Activity".

Tax Information Agreements

The Convention on the Exchange of Information entered into force for the jurisdiction in 2004, the protocol to it – in 2015 Bilateral treaties have been signed with 66 states.