Business Licensing in Baku, Azerbaijan
Business entities in Azerbaijan are mainly established in the form of an LLC. The shareholders of an LLC are not liable for its obligations. The liability is limited to the contribution to the share capital of the LLC.
Depending on future activities most of the new entities are required to apply for industry-specific license.
Registration Process
Both Registration as well as reorganization and liquidation must be reported and registered with the State Registry of Legal Entities of Azerbaijan.
If there are any changes in the company's constituent documents and shareholding of an LLC, it must be reported as well.
The Registry of an LLC is administered by the State Tax Services.
The legal entities in Azerbaijan are required to report periodically to the:
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State Tax Service
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Ministry of Labor and Social Protection of Population
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State Statistics Committee
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State Employment Service
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Ministry of Finance
There are no residency or nationality requirements for the director of an LLC. If a director is planning to move and actively participate in Azerbaijan in daily activities of an LLC, she/he must obtain a residence and work permit.
Laws of Azerbaijan allow 100% foreign ownership in local companies and do not require any specific amount for company share capital. The following documents need to be submitted to the state agencies in order to have an LLC registered:
Notarized ministry of taxes application form, company charter, resolution of LLC shareholders on the establishment of an LLC, appointment of a legal representative, personal background information on the founders and shareholders, corresponding receipts that the government fees have been paid
If the owners/shareholders are foreign legal entities, then they will need to submit Articles of Association, Memorandum, and Trade Registry Certificate.
All the other steps will need to be performed once the company has been established, such as apply for the corporate seal, get an ASAN imza for the company (e-signature), open a corporate bank account and establish an employer-employee relationships with your employees by signing employment contracts and registering the contracts with the relevant authorities.
Please note that the legal address is a must.