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Azerbaijan as a destination for international business
Azerbaijan as a destination for international business
by by Javanshir Feyziev, MPJavanshir Feyziev, MP
November 2013November 2013
For TEAS Business Forum, LondonFor TEAS Business Forum, London
Laws and regulations Opportunities for internationals
Laws and regulations Opportunities for internationals
Simple and straightforward
All major economic freedoms and rights
Equal treatment of local vs. international, with some additional incentives for FDI
Doing business in Azerbaijan, Laws and Regulations
Business legislation
Starting a business
In 2008 a One Stop Shop was established for incorporation of companies
Variety of forms, including Rep office, LLC, JSC and others
No limitations on foreign participation
Doing business in Azerbaijan, Laws and Regulations
In 2012, a new very innovative initiative was launched called ASAN (means “easy”);
A governmental “service mall” provides a broadening scope of services under one roof
E-government, e-signature
Business permits
Doing business in Azerbaijan, Laws and Regulations
Private ownership of land;
Leasehold of land and
freehold of real estate by foreigners accepted.
Land and Property
Doing business in Azerbaijan, Laws and Regulations
20 % corporate tax (if you a local taxpayer)
18% VAT
10% withholding tax (if you are non tax payer in AZ)
4% simplified tax system for small taxpayers
Doing business in Azerbaijan, Laws and Regulations
Taxes
Free currency exchange;
Accounts in currency of choice;
Workable mechanisms for international transactions;
Freedom of concluding international contracts.
Foreign Trade and Currency Exchange
Doing business in Azerbaijan, Laws and Regulations
1958, 1961 and 1985 conventions on international arbitration and dispute resolutions;Apostile (Hague) convention;
WTO negotiations;
EU Eastern partnership;
CoE and OSCE;
More than 40 bilateral investment and double taxation treaties.
International Treaties
Doing business in Azerbaijan, Laws and Regulations
Freedom to choose law of the contract;
Local courts;
Accessibility of international arbitration.
Courts and Arbitration
Doing business in Azerbaijan, Laws and Regulations
Thank you!Thank you!
Doing business in Azerbaijan, Laws and Regulations