Registering a company in Azerbaijan is a manageable process that can be completed by following the outlined steps in this guide. By selecting the appropriate company structure, choosing a unique name, preparing the necessary documents, and completing the required registration steps, you can establish your business in this emerging market. Keep in mind that it is essential to consult with a local attorney or the Ministry of Economy to ensure compliance with all local regulations and requirements. With proper planning and guidance, you can successfully launch your business venture in Azerbaijan. As you navigate the registration process, it is crucial to stay up to date with any changes to local laws and regulations that may impact your business. By adhering to these guidelines and maintaining ongoing compliance with Azerbaijani laws, you can position your company for success in this dynamic and growing economy.
Step 1: Choose a Company Structure
The first step in registering a company in Azerbaijan is to decide on the company structure that best suits your business needs. The main types of companies in Azerbaijan are:
- Limited Liability Company (LLC)
- Joint-Stock Company (JSC)
- Branch or Representative Office of a Foreign Company
For detailed information on each company structure, visit the Ministry of Economy's website: https://www.economy.gov.az/en/article/business/20903
Step 2: Select a Company Name
Choose a unique company name that is not already in use by another business in Azerbaijan. To check the availability of your desired company name, you can use the online search tool provided by the Ministry of Taxes: https://www.e-taxes.gov.az/ebyn/
Step 3: Prepare the Foundation Documents
Once you have chosen a company structure and name, you will need to prepare the foundation documents for your company. These documents should include information about the company's purpose, management structure, and share capital (if applicable). For an LLC, this includes the Charter and the Foundation Agreement.
Step 4: Register with the Ministry of Taxes
Submit the foundation documents and other required documents to the Ministry of Taxes for approval. The Ministry of Taxes will review your application and, if approved, issue a Certificate of State Registration. You can find more information on the registration process on the Ministry of Taxes' website: https://www.taxes.gov.az/page/104/106
Step 5: Obtain a Tax Identification Number (TIN)
After registering with the Ministry of Taxes, you will be assigned a Tax Identification Number (TIN) for your company.
Step 6: Open a Bank Account
Open a corporate bank account in Azerbaijan for your company. This will require presenting your company's foundation documents, Certificate of State Registration, and TIN to the bank.
Step 7: Register with the State Social Protection Fund
Next, register your company with the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population. This is required for making social security contributions.
Step 8: Obtain Necessary Licenses and Permits
Depending on your business activities, you may need to obtain additional licenses and permits to operate in Azerbaijan. Consult with a local attorney or the Ministry of Economy for guidance on any additional requirements for your business.
Costs and Time-frame for Registration:
The costs for registering a company in Azerbaijan vary depending on the chosen company structure and other factors. Generally, the costs can range from 60 to 400 AZN (approximately USD 35 to USD 235). The time-frame for registering a company in Azerbaijan can take between 1 to 4 weeks, depending on the complexity of the application and the chosen company structure.