AZ_BRN (AZ - Business Reg. Number)
| Property | Value |
|---|---|
| A technical identifier, unique in a certain context. Technical key | AZ_BRN
|
| The country a linked concept is active or generally relevant for. Country scope | AZ (Azerbaijan) |
| Language-specific name. Monolingual name | Business Registration Number (az), Business Registration Number (en) |
| Language-specific short name. Monolingual short name | AZ - Business Reg. Number (en) |
| Informal and comprehensive human-readable definition of a concept. Description | Business or company formation in Azerbaijan includes:
Draft the Articles of Association (necessary for the business or company incorporation in Azerbaijan), The Articles of Association required to open a business or company in Azerbaijan can be signed through Power of Attorney (the same applies to Public Notary proceedings, a step required by the Azerbaijan law).drafting all other documents required for the incorporation of the Azerbaijan company, These documents include: Application Form – Form provided by Ministry of Taxes (registration authority of legal entities). These document needs to be notarised. Such form could be applied by the person duly authorised to do so. Incorporation documents – Charter of company, Resolution of Board on establishment of LLC and appointment of legal representative. Information about the shareholders, founders – IDs, passports of founders. Where the owners (shareholders) are foreign legal entities, Articles of Association, Memorandum and Certificate from trade registry are required. Document evidencing the domicile of LLC – Notarised consent letter from the property owner to use the address as legal address (domicile) of LLC. Where the property owner is the very shareholder, such written consent letter is not required. Arrange Public Notary procedures (The procedures for incorporating a company in Azerbaijan have to be done through an Azerbaijan Public Notary), Have a Registered Office in Azerbaijan for your business or company (if required), The registered office may be any address where the Azerbaijan business or company declares to have its headquarters or operations. The registered office will be public. After registering the Company, following issues need to be considered: Preparation of corporate seal of the company Setting up a bank account for opening a business or company in Azerbaijan. Obtaining of e-signature (ASAN imza) for the company Registering employment agreements (including the employment agreement of the Director of the company) Reporting to state authorities (tax, social security, statistics) Opening a bank account refers both to an initial share capital account as well as a current bank account after the company is formed. Accountancy services are recommended for any new business registration in Azerbaijan. Receipt evidencing payment of state registration fee and charter capital – official registration fee for new LLC is 11 manats (AZN) and must be paid in advance before incorporation. State duty for registration of representative offices and branches of foreign legal entity is 220 manats (AZN). However, the charter capital must be paid within 3 month of company registration, provided that this has been prescribed by the charter. In Azerbaijan a company may start its commercial activities after state registration Legal Entity Registration Department at the Ministry of Taxes. Registering a local entity is in general a prerequisite to open a bank account, apply for licenses, certify goods, etc. Azerbaijani law neither contains specific requirements regarding the size of share of a foreign company in Azerbaijani entity nor does it establish legal limitations regarding foreign founders jurisdiction. There are several forms of legal entities to choose from. Such forms include sole entrepreneur, partnership (general and limited), joint-stock company (open and closed type) and Limited Liability Company. |
| Category of business identifiers. Identifier category | Identification Number |
Formal definition
No format rules.
Data quality rules
No data quality rules defined.