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SIGNIFICANT AMENDMENTS TO REGISTRATION OF LEGAL ENTITIES

Law No. 1155-VIQD of Amending Law of Republic of Azerbaijan on Registration of Legal Entities, dated 21 May 2024, introduces important revisions to the rules of registration and registry of entities. These amendments came into force on 8 July 2024.

The amending Law enables local and foreign investors to carry out registration procedures and related processes remotely. It also accelerates the submission of documents and information required by legislation, facilitates the electronic filling of applications, and allows tracking of the process by utilizing e-signature and other relevant modern technologies.

According to the newly added Sub-Section 5.8, information about a fully paid charter capital must be reported to the Ministry of Economy (represented by the Public Tax Service), within five business days.