Baku is developing day by day and becoming more attractive for investors. First of all, they are interested in questions related to establishing a company and registering a company in Baku.
If you are interested in doing business in Azerbaijan and registering a company, then focus your attention—this article, prepared by Camil Asadov, editor of Accounting.az, is for you.
A company is a form of legal organization of enterprises whose main goal is to make a profit. For this reason, it is classified as a commercial legal entity. According to the Civil Code of the Republic of Azerbaijan, the state registration of a legal entity is considered its creation as a subject of civil law (Civil Code, Article 44). This also applies to company registration. This article provides information about company establishment, state registration, and registration with tax authorities.
In fact, company registration in Baku does not differ from other regions of Azerbaijan. Except for the Alat Free Economic Zone, the procedures are the same. The registration of any company is carried out in accordance with the Law of the Republic of Azerbaijan on State Registration and the State Register of Legal Entities.
It should be noted that entrepreneurship in Azerbaijan can also be carried out as individual entrepreneurship, meaning business activity conducted by an individual without establishing a legal entity. In this case, there is no need to establish a company. State registration of individual entrepreneurship is simple, but in some cases it may create certain difficulties. More detailed information about the registration of individual entrepreneurs can be found separately.
To cover the chosen topic in a comprehensive way, we decided to divide it into smaller sections. We believe that this approach will make it easier for you to find the information you are looking for about company registration in Baku.
It should be remembered that company registration requires careful attention. Although the process does not take much time, it is quite responsible.
First of all, it is necessary to choose the organizational and legal form of the future commercial entity. Several forms are предусмотрено by legislation. Since legal requirements and state registration procedures are simpler, a limited liability company (LLC) is often more convenient, although entrepreneurs may have different preferences.
The next stage is the establishment of the company. The creation of a commercial entity as a legal person begins with its establishment and the preparation of its charter. The charter is approved by the founders and is considered the founding document of the company.
The person responsible for registering a company in Baku must ensure that the following information is included in the charter of the legal entity:
It is important to note that the name chosen for company registration must differ from existing names, especially from those of direct competitors, and must be unique. When choosing a name for company registration in Baku, you can use the electronic service “Checking the uniqueness of the name of a commercial legal entity” provided by the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan.
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Founding documents signed by all founders or their authorized representatives, including:
A document confirming payment of the state duty, taking into account Article 20 of the Law of the Republic of Azerbaijan on State Duty.
Notarized copies of the state registration certificate (extract from the state register) and the charter of the founding legal entity.
A copy of the identity document of the founding individual.
A copy of the identity document of the legal representative.
A document confirming payment of the charter capital in accordance with legislation.
When registering representative offices or branches of foreign legal entities, attention should be paid to Article 6 of the Law on State Registration and the State Register of Legal Entities. When registering companies with foreign investment, Article 7 of the same law applies. The registering authority may also request additional documents in accordance with these articles.
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