Azerbaijan: how to quickly open a company, a bank account
Flexible and modern rules make Azerbaijan attractive for business registration and purchase. The country enjoys a strategic location at the crossroads between Europe, Asia and the Middle East, which allows for many interesting ideas. Read in this article how to quickly open a company and a bank account in Azerbaijan.
How to become a business owner in Azerbaijan
To start a business in Azerbaijan, you can:
- Open a company by going through all the stages of registration.
- Buy a ready-made company - an operating firm or a shelf company that has been registered, but has not yet worked, so it has a clean history.
In the first case, the investor will have to collect documents, apply for registration, and wait for approval. In the second one, after the transaction at the notary, the client can immediately start working.
How to start a new company in Azerbaijan
To open a business in Azerbaijan, you need to take 5 steps:
- Obtain the necessary forms for business registration;
- Fill out forms in Azerbaijani language;
- Translate the documents to Azeri, obtain notary certification and apostille;
- To apply for registration and to receive certificates;
- Open a bank account and deposit the share capital.
Getting and filling the forms
To apply for registration of a company in Azerbaijan 2022, you need to collect and/or fill out the following documents:
- a form that confirms the identity of the founder;
- articles of association;
- certificate confirming the legal address (copy of the lease agreement);
- references confirming professional activity (to take from a business partner or a bank);
- a receipt of payment of the registration fee.
The collected documents should be submitted to the Azerbaijan Business Registration Centre. A member of the center can be contacted within a week. If all the documents are in order, the applicant will be given a plastic card with a registration number.
After registration, within three months you have to open an account at a local bank, to pay the full amount of the capital. The biggest one in the republic is IBA (International Bank of Azerbaijan) which has its main office in Baku. It automatically notifies the registration center about opening a bank account in Azerbaijan 2022, capital payment.
How to start working in Azerbaijan quickly
If you want to start working right away, it is better to buy a ready-made company. IT-OFFSHORE specialists will help you find and choose a company with a clean history and impeccable reputation.
The advantages of a ready-made company:
- Ability to get up and running quickly. The company is already registered, so all you need to do is transfer ownership, appoint a new director and administrator, make changes to the charter;
- In some cases, a bank account is already open (the cost of such a company is higher);
- A company that has been open for several years inspires trust among customers and suppliers, which makes it easier to work;
- It is easier to take a loan.
The company you choose must be in sync with your field of activity. Before offering a company, we carefully check its history and provide an official certificate of absence of debts and obligations. You can be sure of its reputation.