Registration Limited Liability Company (LLC) in Azerbaijan
Setting up business in Azerbaijan|Setting up Company in Azerbaijan|Incorporation of business entities in Azerbaijan|Establishing Company in Azerbaijan
To foster the investment attraction, special emphasize has been put on easiness of the registration of business (company) process in Azerbaijan. As a result, Azerbaijan has been ranked on 18th place under the “starting the business” topic on Doing Business Report of World Bank in 2018 among 190 countries. Over the years the number of documents and processes required for establishing company decreased significantly.
Partnerships, limited or additional liability company, joint stock companies and etc. are main types of commercial entities those could be incorporated in Azerbaijan. Many businessmen opt for to establish limited liability companies (LLC) considering practicality of such entities.
Here are key documents, processes and costs need to be considered for registration of company (LLC) in Azerbaijan:
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 founders are foreign legal entities Articles of Association, Memorandum and Certificate from trade registry required.
Document evidencing the domicile of LLC — Notarised consent letter from property owner to use the address as legal address (domicile) of LLC. Where the property owner is founder, shareholder such notarised agreement not required.
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.
All these documents must be applied to legal entity registration office of Ministry of Taxes.
While these documents are necessary for registration of LLC, after the company established there is a need to consider also following issues:
- Preparation of corporate seal of the company
- Opening bank accounts
- Registration of labour contract with company employees (especially the contract of legal representative of company)
- Reporting to state authorities (tax, social security, statistics)
Caspian Legal Center (CLC) offers its services that includes to follow, guide, realise all of these steps in every level of company establishment and administration.
For more info visit this website : http://www.caspianlegalcenter.az/