Have a business idea and a desire to try yourself in business? It is worth opening a company in Azerbaijan!
Registering a company may seem like a complicated and confusing process, but in reality everything is much simpler.
Let’s take a closer look at the process.
Form and name of the company
Business in Azerbaijan can be conducted in the following forms:
- IP (individual entrepreneur) – the easiest way to start a business.
- OJSC or CJSC (Joint Stock Company) – suitable for large projects and companies with several investors.
- Branch or Representative Office of a foreign company.
- LLC (Limited Liability Company) – the most common form, suitable for any area of activity – both small and medium businesses.
Choosing a company name is a very important step for any company, as a good name can inspire trust, be remembered and help promote the business. You can check the uniqueness of the name on the Tax Service website. The company name can be changed after registration (more details here).
Required documents for company formation
To open a company in Azerbaijan, you will need the following documents:
- Founders’ passports;
- Director’s passport;
- Resolution of the founders to establish the company;
- Company Charter;
- Application form;
- A document confirming the legal address (it can be changed after registration);
- A receipt for payment of the state fee (15 AZN – for LLC registration or 300 AZN – for branch/representative office registration).
To open a company in Azerbaijan you need to apply to the nearest branch of the Tax Service, ASAN Service or online. For online registration, you must create a personal account on the portal and have an ASAN imza (electronic signature).
Opening corporate bank accounts
Once your application for company registration in Azerbaijan is approved, a registration certificate with a unique Tax ID (TIN) is issued. Once the company is successfully registered, it is necessary to open a corporate bank account in one of the local banks in Azerbaijan.
FAQ
Is it possible to open a company remotely?
Yes, the registration procedure can be done entirely remotely based on a power of attorney.
What types of activities require a license?
Medicine, education, financial services, transport, etc. are subject to mandatory licensing.
What is the income tax rate in Azerbaijan?
The standard income tax rate is 20%.
Do I need to keep accounting records after registering a company?
Yes, all registered legal entities are required to keep records and submit reports, even if they are not operating.
How long does it take to register a company?
Registration usually takes from 1 to 3 business days.
How EMZE can help you?
Clients often ask us to register a company in Azerbaijan in the shortest time, provision of full legal support and advice when choosing the type of company for running a successful business in Azerbaijan.
You can find other legal services in this field in “My Services” section.
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