Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Azerbaijan
Azerbaijan definitely is one of the talks of the town in the business world these days, for the country was ranked in the 18th position by World Bank in 2018 for “starting business” index. Well, investors from all over the world like to set up in Azerbaijan for its numerous business advantages, such as an abundance of oil resources, liberal trade, and strategic location. However, company incorporate in Azerbaijan is confusing especially for foreigners, and 3E Accounting has decided to help them.
3E Accounting Indonesia, a leading company incorporate service in Asia is now providing services in Azerbaijan. This means anyone willing to register a company in Azerbaijan can give us a call, and we will take them through their entire company registration process in minimal time and cost. So, forget about long phone calls, stress and confusions- you can just contact us and relax, as we complete every process of your company incorporate in Azerbaijan.
Types of Companies in Azerbaijan
Among the types of companies in Azerbaijan, foreigners can either go for a limited liability company, joint-stock company, or a partnership with a local investor.
Limited Liability Company in Azerbaijan
At least one founder can establish a limited liability company, and there is no minimum share capital requirement. Also, a foreigner can open a limited liability company in Azerbaijan easily. However, the applicant must translate the application in Azerbaijani language. As the application can be rejected if you write it poorly, 3E Accounting can help you translate, as we have Azerbaijani business experts as our partners.
Joint Stock Company
A single individual or company can open a Joint Stock Company. The shares can be open to the public in a Joint Stock Company in Azerbaijan. There are two types of Joint Stock Company in Azerbaijan: Open Joint Stock Company and Closed Joint Stock Company. The difference between these two types is that in a closed joint-stock company, the shares are not transferable. The shareholders are responsible for the losses and debts of the company.
In a partnership, multiple people make investments in a company, and their personal expenses are not separate from the company. Depending on the investment made, there are two types of partnership in Azerbaijan:
In a general partnership, partners make equal contributions, and they make equal profits. Also, all of them have the rights to important business decisions.
There are limited partners who don’t make as much investment as general partners. Thus, they don’t have a claim to equal profit and they can’t make business decisions.
How Much Time Does It Take to Register a Company in Azerbaijan?
There isn’t a specific answer. However, depending on the complexities, for some, it might even take up to six weeks to complete the company incorporate in Azerbaijan. Work with 3E Accounting; we ensure that we will register your Azerbaijan company in the minimum time, i.e., a few days to a few weeks.