Doing business in Azerbaijan
- How quickly can I set up a business?
- What is the minimum investment needed?
- How can I raise finance?
- What are the legal requirements for setting up my business?
- What structure should I consider?
- What advice can you give me in regards to payroll and taxation requirements?
- Is there anything else that I should know?
How quickly can I set up a business?
10-15 days
What is the minimum investment needed?
Investment depends on the scale of project.
How can I raise finance?
Investor shall contribute the capital or take bank loan.
What are the legal requirements for setting up my business?
Option 1: Setting up Limited Liability Company (LLC) with local or foreign investment or mixed with no restriction on equity participation.
Option 2: Setting up branch Office of foreign company in country.
What structure should I consider?
For LLC:
- members have limited liability.
- Profits are allocated to members.
- Must file monthly, quarterly, and yearly tax returns.
Branch office:
- Branch is the integral part of parent company.
- Profit is paid to parent company.
- Must file monthly, quarterly, and yearly tax returns.
What advice can you give me in regards to payroll and taxation requirements?
- Salary 250 AZN (147$ US)
- Monthly, quarterly returns
- 14%-25% taxes in oil sector or 0%-14% in non-oil sector
- Salaries to be paid thru bank
- Mandatory medical and unemployment insurance
Is there anything else that I should know?
Azerbaijan has different taxation systems in oil and non-oil sectors.
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