The list of documents required for registration of a company in Azerbaijan (with no foreign capital): Notarized "Application for State Registration of a Commercial Entity"; "Information on the founder natural entities"; A copy of the ID card of the individual founder (founders) natural entity; "information on the founder legal entities"; A notarized copy of the certificate of state registration (extract from the State Registry) and the Charter of the founder legal entity (founders); The Charter approved by the founder (founders) of the structure or its authorized representative (in two counterparts); A decision(s) on the foundation of the entity, approval of the charter and formation of the management bodies; "information on the application of special tax regime" (if the entity operates under a special tax regime); a copy of the document proving the identity of the legal representative; a document confirming the legal address; a document confirming the payment of the state duty (a receipt); a document confirming payment of the authorized capital (bank receipt, mortgage on immovable property, etc.), except for cases when the Articles of Association of a limited liability company stipulate payment of the authorized capital within a certain period of time; the applicant's ID card; A power of attorney (in case the application is signed by an authorized person).
For registration of a company with foreign capital in Azerbaijan in addition to the above documents you also need: If the founder is a foreign legal entity - documents confirming its registration in a foreign country - a notarized copy of the registration certificate (extract from the Registry) and other documents. In case the founder is a foreigner or a stateless person - a document confirming his economic activity in any country.
The registration authority in Azerbaijan is the State Tax Service of Azerbaijan. List of departments:
State Tax Service of the Nakhchivan Autonomous Republic
Address: A. Aliyev str., AZ 7000, Nakhchivan
Main department of the National Revenue of State Tax Service
Address: 105 Heydar Aliyev Avenue, Baku, AZ 1029
Main Territorial Tax Administration No.2
Address: 2, Kulieva str., 44th quarter, Sumgait, AZ 5001
Territorial Tax Department # 3
Address: Yeni korpu, 1, AZ 4000, Guba
Territorial Tax Department # 4
Address: 118 km of Baku-Gazakh highway,AZ 5600, Shamakhi
Territorial Tax Department # 5
Address: 14, G.Shykhbala oglu str., AZ 1812, Shirvan
Main Territorial Tax Department No 6
Address: 97A, Zarifa Alieva str., AZ 4200, Lankaran
Territorial Tax Department # 8
Address: SMD-42 settlement, AZ 1200, Beylagan
Territorial Tax Department # 9
Address: 112A Ali Karim str., AZ 2300, Geychay
Territorial Tax Department #10
Address: 1 Ismail Bey Gutgashinli St., Gabala, AZ 3600
Main Territorial Tax Department # 11
Address: 14 Nizami str.,AZ 6600, Yevlakh
Main Territorial Taxation Department No. 12
Address: 87 Shah Ismail Khatai ave., Ganja, AZ 2003
Territorial Tax Department #13
Address: 1 Nizami str., Zagatala town, AZ 6200
Territorial Tax Department # 14
Address: 5 Heydar Aliyev ave.
Documents required to open a company account in a bank of Azerbaijan: An application; A notarized copy of the charter of the organization; A notarized copy of the certificate of state registration; A notarized copy of the certificate of registration of the commercial legal entity; original of the duplicate certificate issued by the tax authority (in the name of the bank - valid for 10 days); Signature and seal sample sheet (notarized); A copy of the decision ( the identity of which with the original is certified by the legal entity) on appointing the persons mentioned in the signature sample sheet to the positions; if the position of chief accountant is not stipulated in the staff list, it is necessary to have the respective letter addressed to the Bank in this regard or a note in the signatures and seals sample sheet; A copy of the founder's identity card; Copies of IDs of the persons mentioned in the signature samples; FATCA-compliant self-assessment questionnaire.
A well known B2B e-commerce site in the country is the state portal Azexport. Other e-commerce portals include: konttakt.az – Marketplace of electronics (mobile and desktop phones, televisions, tablets, computers and office equipment, cameras, camcorders, audio and video equipment) and household appliances in Azerbaijan; Tap.az – site for private announcements in Azerbaijan; Turbo.az - car buying and selling Bermud.az – online store of electronics and household appliances; Bina.az – real estate buying and selling.
The list of active human resources and recruiting agencies in Azerbaijan. Human Capital Baku (HCB) –Recruiting company, provides services to find employees for businesses in a number of areas: from IT-specialists, marketers, sales managers, to specialists in the field of logistics, accountants, etc. FK-DIPLOMAT LTD – Recruiting company providing personnel recruitment services in the following areas: top management, finance and accounting, banking professionals, human resource management, manufacturing and engineering, construction and architecture, information technology, marketing and advertising, design and engineering, trade and sales, programming, etc.
Name - The Office Address - 215 Bashir Safaroglu Street, Baku, Azerbaijan WEB-address - http://theoffice.az/ Overview - https://www.coworker.com/azerbaijan/baku/the- office Working hours - Mon-Sat 10-00 to 22-00, Sun- off Price of rent of a fixed working place - from 350 AZN/month. Price of a workplace in Open Space - from 250 AZN/month. Personal office rent - from 800 AZN/month Availability of meeting rooms - yes Name - Co-working space INNOLAND Address - 89 M.K. Ataturk ave., Baku, Azerbaijan, Tel: +994 12 444 74 33 (2670), e-mail: office@innoland.az WEB-address - http://innoland.az/ru/activity/7 Overview - Working hours - 24/7 Rental price of a fixed workspace - Open Space Workplace Rental Price - Personal Office Space Rental - / Meeting Rooms Availability - Name - Co-working Space Regus Address - Baku White City Business Centre, 5th floor, Baku, AZ1025 WEB-address - Overview - https://www.regus.ua/ru-ua/coworking-space/azerbaijan/baku/baku-bwc Working Hours - Rental price of a fixed workplace Open Space Workplace Rental Price - Personal Office Space Rental - / Meeting Rooms Availability - Name - COLAB Address - Baku, 151 Neftchiler ave. (entrance from Uzeyir Hajibeyli street), phone: +994 50 278 00 72, e-mail: welcome@colab.az WEB-address - https://colab.az/ru/ Overview - Working hours - Rental price of a fixed workplace - Price of a workplace in Open Space - 300 AZN/month. Rental of personal office space - / availability of meeting rooms - yes Name - Fabrika Address - 92, Nizami Street, Baku, Azerbaijan WEB-address - https://www.facebook.com/coworking.az/ , https://coworking.az/ Overview - https://www.coworker.com/azerbaijan/baku/fabrika Working hours - Monday-Friday: from 10:00 to 19:00, Saturday-Saturday: from 11:00 to 18:00 Fixed workplace rental price Price of a workplace in Open Space - 140 AZN/month. Rental of personal office space - / Availability of meeting rooms – yes
Startups in Azerbaijan have the opportunity to raise funding through: A grant competition held by the State Fund for the Development of Information Technology. It is possible to receive a grant from 10,000 to 300,000 Azerbaijani manats, or from $5,880 to $176,470 in the equivalent. Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan. The limit of small credits which can be given to the enterprises from the Fund is 50,000 manat, the limit of medium credits - 1 million manat, the limit of large credits - 10,000,000 manat. At that, the first half of the loan period is preferential. Loan terms are three, five and ten years for small, medium and large loans respectively. Infipro Inc is a venture capital fund in Baku investing in IT, Internet and software startups. A joint fund of the Ministry of Transport, Communications and High Technologies of Azerbaijan and DAAL Venture Capital, a venture fund from Saudi Arabia. The formation of the fund provides for the Memorandum signed in May 2019 during the international summit Monex Caspian in Azerbaijan. Khazar Ventures is an organization that makes venture capital investments in start-ups in Azerbaijan.
There are a number of organizations in Azerbaijan that help startups launch and develop their products. Incubator and accelarator INNOLAND the State Agency for Services to Citizens and Social Innovation under the President of Azerbaijan (ASAN). The incubation program lasts from 3 to 6 months and includes mentor support, networking, and the opportunity to use office space. The acceleration program lasts 3 months, during which startups develop their product and learn different practices covering all areas of business development. Accelaration program Azerbaijan Innovation House. It lasts 12 weeks and helps startups from Azerbaijan connect with Silicon Valley. The program was founded in February 2020 by INNOLAND. Program of incubation of NEXT STEP innovation center. As part of the program, participants get access to coaching, create an MVP, and develop their own business model. The duration of the program is from 2 to 6 months. Projects that have completed the incubation program can apply for funding. You can apply for participation through the website of NEXT STEP innovation center. Sup VC – acceleration program, which allows startups to grow and enter international markets. The duration of the program is 3 months. As part of the program, startups work on a product and prepare for a demo day. FasterCapital – online incubator and accelerator in Azerbaijan, a division of the international incubator and accelerator of the same name. There is one startup participating in the acceleration program in Azerbaijan - the project MedNot. Incubator Park of the Advanced Technologies NANA. The Fast Track Acceleration Program, developed by the High-Tech Park of the Ministry of Transport, Communications and High Technologies, was implemented in 2018. This is the first acceleration program in Azerbaijan implemented by a state structure. Pre-acceleration (3 months) and pre-incubation (6 months) programs from the business incubator Barama Innovation & Entrepreneurship Center. The incubator was created in 2009 and consists of an innovation laboratory, business incubation, entrepreneurship support and business solutions areas. Since 2019 Barama Innovation & Entrepreneurship Center is supported by the Innovation Agency of Azerbaijan.