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Azerbaijan

 

Azerbaijan is a country located in the South Caucasus region, bordered by Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to the south. Azerbaijan is a country with a rich history, culture, and economy.

History:

Azerbaijan has a long and storied history dating back thousands of years. The earliest known civilization in Azerbaijan was the ancient state of Atropatene, which existed from the 4th century BC to the 3rd century AD. The country has also been ruled by various empires, including the Persian Empire, the Roman Empire, and the Russian Empire. Azerbaijan gained its independence from the Soviet Union in 1991.

Culture:

Azerbaijan has a rich cultural heritage that has been shaped by its history and geography. The country’s culture is a unique blend of Eastern and Western influences. Azerbaijani cuisine is famous for its rich flavors and use of fresh ingredients, including meats, vegetables, and herbs. Azerbaijani music is also an integral part of the country’s culture, with traditional instruments such as the tar and the kamancha.

Economy:

Azerbaijan has a mixed economy that is heavily reliant on the oil and gas industry. The country has significant oil and gas reserves, which have driven its economic growth in recent years. Azerbaijan has also diversified its economy in recent years, with a focus on agriculture, tourism, and manufacturing. The country is a member of the World Trade Organization and has signed several free trade agreements with other countries.

Politics:

Azerbaijan is a presidential republic with a strong executive branch. The country’s president is the head of state and government and is responsible for appointing the prime minister and other key officials. Azerbaijan has a unicameral legislature, the National Assembly, which is composed of 125 members. The country has been criticized for its human rights record, including restrictions on freedom of speech and the press.

In conclusion, Azerbaijan is a country with a rich history, culture, and economy. Its location at the crossroads of Europe and Asia has given it a unique cultural identity, while its oil and gas reserves have driven its economic growth in recent years. Azerbaijan is a presidential republic with a mixed economy that is heavily reliant on the oil and gas industry. Despite its economic success, the country has been criticized for its human rights record.

 

Types of companies in Azerbaijan

 

Limited Liability Company (LLC):
An LLC is the most common form of company registration in Azerbaijan. This type of company offers limited liability protection to its shareholders, and the minimum number of shareholders required is one. The shareholders’ liability is limited to the amount of their investment in the company. LLCs are required to have a registered office in Azerbaijan, and at least one director and one shareholder. The minimum share capital required for an LLC in Azerbaijan is 10,000 AZN.

Joint Stock Company (JSC):
A JSC is a company with share capital divided into shares. It can be public or private, and the minimum number of shareholders required is two. Shareholders have limited liability, and the minimum share capital required for a JSC in Azerbaijan is 50,000 AZN. JSCs are required to have a registered office in Azerbaijan, and at least three directors and a supervisory board. Public JSCs are also required to be listed on the stock exchange.

Representative Office:
A Representative Office is an extension of a foreign company in Azerbaijan. It is not a separate legal entity and does not have a share capital. A Representative Office can engage in market research, promotion, and other activities related to the parent company’s business. However, it cannot engage in any commercial activities or sign contracts on behalf of the parent company.

Branch Office:
A Branch Office is a separate legal entity from its parent company, but it operates under the parent company’s name. It has a share capital, and the minimum share capital required is 10,000 AZN. A Branch Office can engage in commercial activities and sign contracts on behalf of the parent company. However, the parent company is responsible for any liabilities incurred by the Branch Office.

Sole Proprietorship:
A Sole Proprietorship is a business operated by an individual. The business is not a separate legal entity, and the individual is personally responsible for all the liabilities incurred by the business. A Sole Proprietorship is not required to have a share capital or a registered office, and it can be registered online through the Ministry of Taxes website.

 

Advantages of company registration in Azerbaijan

 

Strategic Location:
Azerbaijan is a strategic location between Europe and Asia, making it a gateway to the Middle East and Central Asia. This location provides access to a market of over 2 billion people, making it an ideal location for businesses seeking to expand their operations.

Favorable Business Environment:
Azerbaijan has a favorable business environment, with a low tax rate and minimal bureaucracy. The country’s government has implemented several reforms to improve the ease of doing business, including streamlining the registration process and reducing the time and cost required to start a business.

Strong Economic Growth:
Azerbaijan’s economy has experienced strong growth over the past few years, driven by the country’s abundant natural resources, including oil and gas. This growth has led to increased investment and opportunities for businesses looking to expand in the region.

Skilled Workforce:
Azerbaijan has a highly skilled workforce, with a strong education system that emphasizes science, technology, engineering, and mathematics (STEM) fields. This skilled workforce provides businesses with access to talent that can help drive innovation and growth.

Access to Free Trade Agreements:
Azerbaijan has signed several free trade agreements with neighboring countries, including Turkey, Russia, Georgia, and Iran. These agreements provide businesses with access to a large and growing market, as well as tariff-free trade with these countries.

Diverse Industries:
Azerbaijan has a diverse range of industries, including oil and gas, agriculture, manufacturing, and tourism. This diversity provides businesses with opportunities to enter into different sectors and markets, reducing the risks associated with relying on a single industry or market.

“Our team can provide assistance if you need help registering a company in Azerbaijan.”

 

Common questions:

 

What are the basic requirements for company registration in Azerbaijan?
The basic requirements for company registration in Azerbaijan are to have at least one founder/shareholder, a legal address in Azerbaijan, and to submit the necessary documents to the Ministry of Taxes.

What is the minimum share capital required for an LLC in Azerbaijan?
The minimum share capital required for an LLC in Azerbaijan is 100 AZN (approximately $59 USD).

How many directors are required for an LLC in Azerbaijan?
An LLC in Azerbaijan requires at least one director.

Can a foreigner register a company in Azerbaijan?
Yes, a foreigner can register a company in Azerbaijan.

What is the process for registering a company in Azerbaijan?
The process for registering a company in Azerbaijan involves submitting the necessary documents to the Ministry of Taxes and obtaining a tax identification number, registering with the State Registration Service, and opening a bank account.

How long does it take to register a company in Azerbaijan?
The process for registering a company in Azerbaijan typically takes around 5-10 business days.

What are the costs associated with company registration in Azerbaijan?
The costs associated with company registration in Azerbaijan include the registration fee, legal fees, notary fees, and translation fees.

Can a company be registered online in Azerbaijan?
Yes, a company can be registered online in Azerbaijan.

What documents are required for company registration in Azerbaijan?
The documents required for company registration in Azerbaijan include the application form, the founders’ identity documents, the company’s legal address, and the company’s charter.

What is a tax identification number, and how do I obtain one in Azerbaijan?
A tax identification number (TIN) is a unique number assigned to companies for tax purposes. To obtain a TIN in Azerbaijan, the company must submit an application to the Ministry of Taxes.

Can I change the legal structure of my company after registration in Azerbaijan?
Yes, it is possible to change the legal structure of a company after registration in Azerbaijan.

How do I choose a name for my company in Azerbaijan?
To choose a name for a company in Azerbaijan, the name must be unique and not already registered in Azerbaijan. It must also comply with Azerbaijan’s naming restrictions.

What are the naming restrictions for companies in Azerbaijan?
Companies in Azerbaijan cannot use names that are obscene, offensive, or promote illegal activities.

Can I register a company without a physical office in Azerbaijan?
No, companies in Azerbaijan are required to have a physical office in Azerbaijan.

Do I need a local partner to register a company in Azerbaijan?
No, a local partner is not required to register a company in Azerbaijan.

How many shareholders are required for a JSC in Azerbaijan?
A JSC in Azerbaijan requires at least two shareholders.

What is the minimum share capital required for a JSC in Azerbaijan?
The minimum share capital required for a JSC in Azerbaijan is 50,000 AZN (approximately $29,400 USD).

What is a supervisory board, and is it required for all JSCs in Azerbaijan?
A supervisory board is a group of individuals responsible for overseeing the management of a company. A supervisory board is required for all JSCs in Azerbaijan.

Can a JSC be a private company in Azerbaijan?
Yes, a JSC can be a private company in Azerbaijan.

What is the difference between an LLC and a JSC in Azerbaijan?
LLC (Limited Liability Company) is a type of company that has a limited number of shareholders and each shareholder’s liability is limited to the amount of their investment. A JSC (Joint-Stock Company), on the other hand, can have an unlimited number of shareholders who can freely transfer their shares. The liability of the shareholders is limited to the amount of their investment.

What is a Branch Office, and how is it registered in Azerbaijan?
A Branch Office is a type of company that is registered as an extension of a foreign company in Azerbaijan. It can engage in commercial activities, but its liability is limited to the assets of the foreign parent company. It must be registered with the Ministry of Taxes.

Can a Branch Office in Azerbaijan engage in commercial activities?
Yes, a Branch Office in Azerbaijan can engage in commercial activities.

What are the liabilities of a Branch Office in Azerbaijan?
The liabilities of a Branch Office in Azerbaijan are limited to the assets of the foreign parent company.

What is a Representative Office, and how is it registered in Azerbaijan?
A Representative Office is a type of company that is registered as a non-commercial entity in Azerbaijan. It serves as a liaison office for the foreign parent company and can engage in non-commercial activities, such as market research or advertising. It must be registered with the Ministry of Taxes.

What activities can a Representative Office engage in Azerbaijan?
A Representative Office in Azerbaijan can engage in non-commercial activities, such as market research or advertising.

What is the duration of a Representative Office in Azerbaijan?
The duration of a Representative Office in Azerbaijan is typically for 1 year, and it can be extended.

Can a Representative Office engage in commercial activities in Azerbaijan?
No, a Representative Office in Azerbaijan cannot engage in commercial activities.

Can a Sole Proprietorship be registered online in Azerbaijan?
Yes, a Sole Proprietorship can be registered online in Azerbaijan through the “ASAN” system.

What is the tax rate for companies in Azerbaijan?
The tax rate for companies in Azerbaijan is 20% on profits.

What are the tax incentives for companies in Azerbaijan?
There are various tax incentives for companies in Azerbaijan, such as tax holidays, reduced tax rates for certain industries, and tax exemptions for certain types of income.

What are the accounting requirements for companies in Azerbaijan?
Companies in Azerbaijan are required to maintain proper accounting records and submit annual financial statements to the Ministry of Taxes.

Can a company in Azerbaijan have a foreign bank account?
Yes, a company in Azerbaijan can have a foreign bank account.

What are the reporting requirements for companies in Azerbaijan?
Companies in Azerbaijan are required to submit annual financial statements to the Ministry of Taxes and file tax returns on a regular basis.

What are the labor laws in Azerbaijan?
The labor laws in Azerbaijan regulate the employment relationship between employers and employees. They cover areas such as minimum wage, working hours, and employment contracts.

Can a company in Azerbaijan employ foreign workers?
Yes, a company in Azerbaijan can employ foreign workers, but they must have a work permit.

What is the minimum wage in Azerbaijan?
The minimum wage in Azerbaijan is 250 AZN per month.

What are the social security contributions for employees in Azerbaijan?
The social security contributions for employees in Azerbaijan are 22% of their gross salary, which is paid by the employer.

What are the visa requirements for foreign workers in Azerbaijan?
Foreign workers in Azerbaijan must obtain a work permit and a residence permit to legally work and live in the country.

What are the intellectual property laws in Azerbaijan?
Azerbaijan has a system of laws to protect intellectual property, including patents, trademarks, copyrights, and trade secrets. These laws are enforced by the State Agency on Intellectual Property. In general, intellectual property protection in Azerbaijan is consistent with international standards, and it is possible to register and enforce intellectual property rights in the country.

What are the regulations for e-commerce in Azerbaijan?
In Azerbaijan, e-commerce is regulated by the Law on Electronic Commerce and Digital Signatures. The law provides a legal framework for electronic transactions and digital signatures, and it sets out requirements for the protection of consumer rights, data protection, and cybersecurity. In addition, e-commerce businesses must comply with tax and customs regulations, as well as consumer protection laws.

Can a company in Azerbaijan own property?
Yes, a company registered in Azerbaijan can own property, including real estate, land, and other assets. Ownership of property is governed by the Civil Code of Azerbaijan.

What are the restrictions on foreign ownership of property in Azerbaijan?
Foreign individuals and companies are generally allowed to own property in Azerbaijan, subject to certain restrictions. For example, foreign ownership of land is restricted in some areas, such as near the border with Iran. In addition, there are limitations on foreign ownership of property in certain industries, such as defense and security.

What is the process for opening a bank account in Azerbaijan?
To open a bank account in Azerbaijan, a company must provide the bank with a range of documents, including proof of registration, identification of the company’s directors and shareholders, and evidence of the company’s financial position. The exact requirements may vary depending on the bank and the type of account being opened.

Can a company in Azerbaijan have multiple bank accounts?
Yes, a company in Azerbaijan can have multiple bank accounts. This may be useful for managing cash flows, facilitating international transactions, or segregating funds for different purposes.

What are the currency exchange regulations in Azerbaijan?
The Central Bank of Azerbaijan regulates currency exchange in the country. In general, there are no restrictions on foreign currency transactions, and companies are free to hold accounts in foreign currency. However, there are certain reporting requirements for transactions above a certain threshold.

What are the customs regulations in Azerbaijan?
Customs regulations in Azerbaijan are governed by the State Customs Committee. Companies that import or export goods must comply with a range of regulations and procedures, including customs clearance, inspection, and payment of duties and taxes.

Can a company in Azerbaijan import goods?
Yes, companies in Azerbaijan can import goods, subject to compliance with customs regulations and payment of duties and taxes.

What are the licensing requirements for companies in Azerbaijan?
The requirements for licensing in Azerbaijan vary depending on the industry and the type of activity. For example, companies in the telecommunications or financial sectors may require specific licenses to operate. The licensing process is typically overseen by a regulatory agency or ministry.

What are the regulations for opening a restaurant or café in Azerbaijan?
Opening a restaurant or café in Azerbaijan requires compliance with a range of regulations, including registration with the relevant authorities, obtaining permits for construction and renovation, and compliance with health and safety regulations. In addition, food businesses must comply with specific regulations regarding food handling, storage, and preparation.

What are the regulations for opening a retail store in Azerbaijan?
Opening a retail store in Azerbaijan requires compliance with a range of regulations, including registration with the relevant authorities, obtaining permits for construction and renovation, and compliance with health and safety regulations. In addition, retailers must comply with specific regulations regarding product labeling and consumer protection.

What are the regulations for opening a construction company in Azerbaijan?
To open a construction company in Azerbaijan, you need to register it with the State Tax Service under the Ministry of Taxes. You will also need to obtain a construction license from the Ministry of Emergency Situations, which requires submitting a set of documents such as proof of ownership of the land and technical expertise of the company’s staff. Additionally, you may need to obtain other permits and licenses, depending on the specific nature of your construction activities.

What are the regulations for opening a tourism company in Azerbaijan?
To open a tourism company in Azerbaijan, you need to register it with the Ministry of Culture and Tourism. You will also need to obtain a tourism license, which requires submitting a set of documents such as proof of ownership of the business and qualification of the company’s staff. Additionally, you may need to obtain other permits and licenses, depending on the specific nature of your tourism activities.

Can a company in Azerbaijan have a virtual office?
Yes, a company in Azerbaijan can have a virtual office. The Law on E-Commerce and Digital Signatures recognizes virtual offices as a valid form of business presence in Azerbaijan. However, companies with a virtual office must still comply with all registration and licensing requirements and maintain a physical address for communication purposes.

What are the regulations for opening a tech company in Azerbaijan?
To open a tech company in Azerbaijan, you need to register it with the State Tax Service under the Ministry of Taxes. You will also need to obtain any necessary permits or licenses for your specific tech activities, such as a license for software development or data processing. Additionally, you may need to comply with data protection regulations and other laws related to the tech industry.

Can a company in Azerbaijan sell its products online?
Yes, a company in Azerbaijan can sell its products online. The Law on E-Commerce and Digital Signatures regulates e-commerce activities in Azerbaijan, and companies must comply with relevant regulations, such as those related to data protection, consumer protection, and taxation.

What are the regulations for online payments in Azerbaijan?
Online payments in Azerbaijan are regulated by the Central Bank of Azerbaijan. Companies that offer online payment services must obtain a license from the Central Bank and comply with its regulations, such as those related to transaction processing, data protection, and anti-money laundering.

Can a company in Azerbaijan use cryptocurrency?
No, the use of cryptocurrency is not currently legal in Azerbaijan. The Central Bank of Azerbaijan has issued several warnings against the use of cryptocurrency, citing its lack of regulation and potential risks to consumers. However, the government is currently exploring the possibility of legalizing and regulating cryptocurrency in the future.

 

Documents required to register a company

 

• Application for registration of a company
• Founding documents, such as the articles of association, memorandum of association, or charter
• Identification documents of founders and shareholders, such as passport or ID card
• Proof of ownership or lease agreement of the business premises
• Tax identification number (TIN) of founders and shareholders
• A power of attorney or a notarized proxy for company representatives
• A document certifying the payment of registration fees.

 

Type of Banks in Azerbaijan

 

International Bank of Azerbaijan (IBA): IBA is the largest bank in Azerbaijan and provides a wide range of banking services, including retail banking, corporate banking, and investment banking. It has over 30 branches across the country and also operates in other countries.

Kapital Bank: Kapital Bank is one of the largest commercial banks in Azerbaijan, providing various banking services such as deposits, loans, and insurance. It has a network of over 90 branches across Azerbaijan and also operates in Georgia and Turkey.

PASHA Bank: PASHA Bank is a private commercial bank that provides services such as corporate banking, investment banking, and asset management. It has a network of branches in Azerbaijan, Georgia, and Turkey.

Unibank: Unibank is a commercial bank that offers a wide range of banking services, including retail banking, corporate banking, and investment banking. It has a network of branches across Azerbaijan and also operates in Georgia.

Bank of Baku: Bank of Baku is a commercial bank that provides services such as deposits, loans, and credit cards. It has a network of branches in Azerbaijan and also operates in other countries.

Expressbank: Expressbank is a commercial bank that provides various banking services such as deposits, loans, and foreign exchange operations. It has a network of branches across Azerbaijan and also operates in other countries.

Other notable banks include Amrahbank, Muganbank, and Demirbank.

 

“Our team can provide assistance if you need to open a bank account in Azerbaijan.”

 

The top universities in Azerbaijan

 

Baku State University: Located in Baku, the capital city of Azerbaijan, Baku State University is one of the oldest and largest universities in the country. It offers undergraduate and graduate programs in various fields, including law, economics, medicine, and engineering. The university’s website is https://bsu.edu.az/en/.

Azerbaijan State Oil and Industry University: Also located in Baku, Azerbaijan State Oil and Industry University is a leading technical university in the country, specializing in oil and gas engineering and technology. It offers undergraduate and graduate programs in fields such as petroleum engineering, chemical engineering, and industrial engineering. The university’s website is http://asoiu.edu.az/en.

ADA University: ADA University is a private university located in Baku, established in 2006. It offers undergraduate and graduate programs in various fields, including international relations, public administration, business, and engineering. The university’s website is https://www.ada.edu.az/en/.

Khazar University: Khazar University is a private university located in Baku, founded in 1991. It offers undergraduate and graduate programs in various fields, including social sciences, humanities, business, and engineering. The university’s website is https://www.khazar.org/en.

Qafqaz University: Qafqaz University is a private university located in Baku, founded in 1993. It offers undergraduate and graduate programs in various fields, including business, economics, law, and engineering. The university’s website is https://qu.edu.az/en/.

 

International Language Center 

 

British Council Azerbaijan
https://www.britishcouncil.az/en/english
The British Council is a well-known organization that provides language courses, teacher training, and exams in English. It has a center in Baku, Azerbaijan, and offers courses for all levels of English language learners.

Language Solutions Azerbaijan
https://languagesolutions.az/
Language Solutions Azerbaijan is a language center in Baku that provides courses in English, Russian, Azerbaijani, and other languages. They offer group and private classes, as well as exam preparation courses.

Speak Language Center
https://speak.edu.az/
Speak Language Center is another language center in Baku that offers courses in English, Russian, Azerbaijani, and other languages. They provide group and individual classes, as well as online courses.

American Center Azerbaijan
https://az.usembassy.gov/education-culture/american-center/
The American Center Azerbaijan is a cultural center in Baku that provides resources on American culture and education. They also offer English language courses and provide support for those interested in studying in the United States.

Berlitz Azerbaijan
https://www.berlitz.az/
Berlitz is an international language center that provides courses in English, Azerbaijani, and other languages. They offer both group and private classes, as well as online courses.

 

Strange or unusual to visitors in Azerbaijan

 

Hospitality: Azerbaijanis are known for their hospitality and may invite strangers to their homes for tea or a meal. This is a common cultural practice and is considered a way to show respect and build relationships.

Tea culture: Tea is an important part of Azerbaijani culture and is often served with meals or as a sign of hospitality. It is typically served in small glasses and may be accompanied by jam, sweets, or other snacks.

Traditional clothing: Many Azerbaijanis still wear traditional clothing, particularly in rural areas. Men may wear a “chalma” hat and a long “balaban” coat, while women may wear a “kelaghai” or “chador” headscarf and a long dress.

Street vendors: Street vendors are a common sight in Azerbaijan, particularly in Baku. They may sell everything from fresh fruit and vegetables to souvenirs and household items.

Traffic rules: The traffic rules in Azerbaijan may be different from what visitors are used to in their own countries. For example, there may be fewer traffic lights and stop signs, and drivers may be more aggressive.

Religion: Islam is the predominant religion in Azerbaijan, and visitors may notice the presence of mosques and other religious symbols throughout the country.

 

“Tips for Newcomers: Adjusting to Life in Azerbaijan”

 

Learn the language: Azerbaijani is the official language of Azerbaijan, and while many people in Baku speak English, learning some basic Azerbaijani phrases will help you communicate with locals and feel more comfortable in your new surroundings.

Embrace the culture: Azerbaijan has a rich cultural heritage, with music, dance, and art playing an important role in daily life. Attend traditional events and festivals to experience the local culture and meet new people.

Try the food: Azerbaijani cuisine is delicious and varied, with dishes such as plov (rice pilaf), dolma (stuffed vegetables), and kebabs. Be adventurous and try new foods to get a taste of Azerbaijani culture.

Get to know your neighborhood: Take a walk around your neighborhood to explore your new surroundings and get a sense of local life. You may discover new shops, cafes, and parks that you wouldn’t have found otherwise.

Make new friends: Meeting new people is a great way to feel more connected to your new home. Join clubs or groups that share your interests, or attend language exchange events to meet other expats and locals.

Be patient: Adjusting to a new culture takes time, and there may be moments of frustration or homesickness. Give yourself time to settle in and be patient with the process.

Stay connected: Staying in touch with family and friends back home can help you feel connected and supported during your transition to life in Azerbaijan. Make use of technology such as video calls and messaging to stay in touch.

 

Top recruitment agencies in Azerbaijan

 

1. Job.az – https://job.az/
2. HR-Consulting – https://www.hr-consulting.az/
3. Baku Headhunters – https://www.bakuheadhunters.com/
4. VEMA – https://www.vema.az/
5. JobSearch.az – https://www.jobsearch.az/
6. AIMS Human Capital – http://www.aimshumancapital.com/
7. HR Partners – http://www.hrpartners.az/
8. Topaz Recruitment – http://www.topazrecruitment.com/
9. Executives Online – https://www.executivesonline.az/
10. BestRecruit – https://bestrecruit.az/

 

Necessary phone numbers in Azerbaijan

 

Emergency Services (ambulance, fire, police): 112
Ministry of Emergency Situations: (+994 12) 512-11-03
Ministry of Internal Affairs: (+994 12) 493-71-14
Ministry of Health: (+994 12) 497-59-49
Ministry of Tourism: (+994 12) 498-98-98
Heydar Aliyev International Airport: (+994 12) 497-27-27
Azerbaijan Railways: (+994 12) 497-65-51
BakuBus Public Transport: (+994 12) 497-55-55
State Customs Committee: (+994 12) 493-11-22
State Migration Service: (+994 12) 498-90-14

 

The best way to immigrate to Azerbaijan

 

Investment: One way to immigrate to Azerbaijan is by investing in the country. The government offers various incentives for foreign investors, including tax breaks and citizenship for certain investment amounts.

Employment: Another way to immigrate to Azerbaijan is through employment. If you have a job offer from an Azerbaijani company, you can apply for a work visa and eventually permanent residency.

Education: Studying at an Azerbaijani university is another way to immigrate to Azerbaijan. After completing your studies, you can apply for a work visa and eventually permanent residency.

Marriage: If you marry an Azerbaijani citizen, you can apply for citizenship after three years of residency in the country.

Family reunion: If you have close family members who are Azerbaijani citizens, you may be able to immigrate to Azerbaijan through family reunion.