2.1. Main Formation Requirements
Azerbaijan offers a one-stop-shop system of registration of new companies with the Ministry of Taxes. The key steps involved in the registration of a business entity are:
- Obtain name and legal address of the company
- Filing of documents such as information about the founder (name, nationality, passport or constituent documents of the company), size of authorized capital and types of activities
- All documents must be notarized at the Azerbaijani Embassy of the country of the founders (shareholders), or certified by Apostille issued by the relevant authorities
- Payment of the relevant registration fees
- On verification of the documents, the company will be approved and registered
- A tax system must then be chosen: simplified tax, VAT, or income tax
- The company must also open a permanent bank account in Azerbaijan