Azerbaijan is an independent state located in Southwestern Asia. It borders on Armenia, Russia and Georgia. Also, it has an exclave of Nakhchivan that borders on Turkey and Iran.
If you are interested in opening a company in Azerbaijan, then take a look at the following features and advantages of the jurisdiction:
- Capital: Baku;
- The official language is Azerbaijani;
- The state area is 88 600 km2;
- The country has a stable economic situation;
- The most developed areas: agriculture, industrial production, oil and gas industry and tourism;
Recently, many businessmen seek to start a business in this state and want to register an Azerbaijani company and open a corporate bank account in Azerbaijan.To learn more, we recommend you asking for personal legal assistance in a business organization process in Azerbaijan and legal advice on opening an Azerbaijani bank account from YB Case specialists.
You can register a company in Azerbaijan remotely by choosing one of the following business entity types:
- Public LC;
- Private LC.
Setting up an LLC in Azerbaijan will be a good decision, because it is the most popular legal form among foreign businessmen. Most often it used for opening small and medium enterprises.
To open an Azerbaijani company, you will need:
- To appoint at least 2 directors (there are no residency requirements);
- To open an Azerbaijan bank account (we recommend hiring a local director in order to get a positive decision from the bank).
Also, you can set up an Public LC in Azerbaijan with the following requirements:
- Founders: 2 or more (legal entity/an individual);
- A share capital that will be divided into insured shares;
- Board of Directors;
- Supervisory Board;
- Verification Commission, which is elected at the General Meeting of Shareholders.
If you want to register a Private LC in Azerbaijan, you should know, that there is a prohibition for selling shares.
For more information on how to start your own business, you can request for individual legal advice on LLC registration procedure in Azerbaijan from YB Case experts.
- Corporate tax: 20%;
- VAT: 18%;
- Dividends and interest payments: 10%;
- Royalties: 14%.
Preparation of documents:
- Memorandum and Articles of association;
- Application for registering a company in Azerbaijan;
- Confirmation of payment of state duty (receipt of payment).
Also, you have an opportunity to set up an Azerbaijani company remotely.
How to open your own business in Azerbaijan
You can receive qualified legal support in a company registration process in Azerbaijan from YB Case experts. Also, our specialists will provide you with legal advice on opening an account for Azerbaijani company and obtaining a business license in Azerbaijan.Terms of registration: up to 4 weeks.