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Company Formation Azerbaijan

Updated on Wednesday 10th October 2018

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BridgeWest, your European and offshore company formation agent, provides company formation in Azerbaijan. Our assistance includes:

> drafting the Articles of Association (necessary for the company incorporation in Azerbaijan);
The Articles of Association required to open a company in Azerbaijan can be signed through Power of Attorney (the same applies to Public Notary proceedings, a step required by the Azerbaijan law).

> drafting all other documents required for the incorporation of the Azerbaijan company;
These documents include: Specimen Signatures, Special Forms provided by the Company Registration Office in Azerbaijan, passport copies etc.

> arranging Public Notary procedures (The procedures for incorporating a company in Azerbaijan have to be done through an Azerbaijan Public Notary);

> offering a Registered Office in Azerbaijan for your company (if required);
The registered office may be any address where the Azerbaijan company declares to have its headquarters. The registered office will be public.

> setting up a bank account for opening a company in Azerbaijan.
This refers both to an initial share capital account as well as a current bank account after the company is formed. 

> recommending an accountant in Azerbaijan;
Accountancy services are recommended for any new business registration in Azerbaijan.

BridgeWest provides formation of the following types of companies that can be opened in Azerbaijan:

> Limited liability company (LLC)

This entity type is used for commercial purposes and it is the most widely used in Azerbaijan. It can sustain small and medium-sized companies being established by at least one member. The LLC's participants contribute with their parts to the charter capital, which has no statutory minimum required. As the legal entity's name suggests, the liability of its members is limited to the amount of contribution made to the company, or to their interest. The participatory interests are not transferable freely. Remaining partners may purchase the withdrawing participants' interest.

> Open joint stock company (JSC)

This entity is designated for business at a larger scale and it can be formed by one or more founders, individuals, or legal entities. A JSC has a certain fund divided into shares, owned by shareholders that must be authorized through insurance. The open joint stock company may freely transfer shares and trade them to the public. The shareholders of a JSC are liable to the extent of their contributions to the company's debts and obligations. The JSC must include Board of Directors, Supervisory Council and Audit Commission elected at the General Meeting of Shareholders.

> Closed joint stock company (JSC)

The closed joint stock company functions mainly as an open one, being ruled by a Board of Directors, with a limited liability of the shareholders. It can also be established by one or more natural persons or legal entities, having a common capital divided into shares. The main difference between the two types of JSC is that a closed one cannot issue transferable shares, nor can it offer them to the public.

> Azeri Branch, Subsidiary or Representative Office Any foreign company is able to set up branch entities in Azerbaijan. These can be set up as separate entities from the parent company (companies having the foreign company as shareholder) or extensions of the parent-company in Azerbaijan.

Please note that, in order for a foreign citizen to open a company in Azerbaijan, it is necessary that they provide an official proof that they are involved in a business activity. This requirement refers to specific countries.

BridgeWest is also able to offer ready-made company in Azerbaijan and VAT registration.

Please contact our experts in European and offshore company formation matters for more information and prices.


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