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How to Incorporate Company In Azerbaijan as a Foreigner
Azerbaijan was listed as one of the top 10 business reformers in the world by the World Bank in 2018, and there are valid reasons for that. The country has always had huge potential, with the extraordinary supply of oil and gas and a strategic location. Azerbaijan is a gateway between Asia and Europe, with the Caspian Sea bordering strategically. This means an import-export business could also be a great idea in the nation. Reasons like these make the place a great prospect, and in 2018, many reforms were made in the rules including the incorporation. And this day, to incorporate company in Azerbaijan is a piece of cake, especially if you work with a company registration service.
Type of Company
Azerbaijan government has made it sure that there are no limits on those who have a flying business plan. 100% foreign ownership is fine and there are no special limitations on foreign shareholding. Among the types of companies in Azerbaijan, LLC and joint-stock companies are the favorites among foreigners.
- Limited Liability Company in Azerbaijan
A limited liability company suits you if you are looking to start a small to medium-sized business in Azerbaijan. Of course, there should be at least one owner and the funds come from shares. There is no assessment about the minimum share requirement, but remember that you can’t transfer the shares.
- Joint-Stock Companies
They are two types of joint-stock companies in Azerbaijan.
Open Joint-Stock Company
An open joint-stock company is for bigger businesses in Azerbaijan. An individual or a legal entity can open an open joint-stock company in Azerbaijan. In this case, too, finances come from share capital. The difference from an LLC is that the share capital is more and is available to the public. The shares are transferable.
Closed Joint-Stock Company
A closed joint-stock company is similar to the open joint stock company in terms of investment size. However, you can’t issue public shares and the shares aren’t transferable.
Materials Required for Company Registration
You need these documents if you want to incorporate a company in Azerbaijan.
• Articles of association
• Details about the company name and registered address
• Lease contract if there is any (this has to be notarized)
• Corporate bank account information
• VAT certificate
The time it takes to register a company depends on whether the registration process goes smoothly. It is recommended to hire 3E Accounting, we will help you complete the registration of Azerbaijan company within 5 to 7 days.
With its booming economy, Azerbaijan is a great place to start and run a business. However, to set up a company in Azerbaijan, you need to get proper information, guidance and professional help. Cooperate with 3E Accounting, we provide affordable and high-quality services for you to successfully set up an Azerbaijan company in the shortest possible time, please contact us now.
