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Doing business in Azerbaijan: Guide

Staff Reporter | 11:28 PM |


Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.
Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Azerbaijan. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Obtain a confirmation of the legal address of the company from the proposed lessor1 dayno charge
2Notarize company documents1 dayAZN 30
3Open a temporary bank account, deposit the charter capital and obtain a receipt; pay the state registration fee and get a receipt1 dayAZN 11 + AZN 20
4File documents with the company registrar at the One Stop shop Taxes, register for VAT purposes3 daysincluded in procedure 3
5Obtain a company seal1 daymay vary between AZN 4 AZN 40
6Open a permanent bank account1 dayAZN 30