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