Baku, Azerbaijan, Oct. 13
The Azerbaijani Cabinet of Ministers has approved the procedure for declaration when taking national currency in cash and securities denominated in national currency into and out of the country by residents and non-residents.
The relevant decision was signed by Prime Minister Novruz Mammadov.
The procedure has been prepared taking into account the proposals of the Central Bank of Azerbaijan and in accordance with the amendments to the Presidential Decree on Some Measures to Combat Laundering of Money and Other Property, Obtained Through Criminal Activity, and Financing of Terrorism and the Regulations of the Anti-Corruption General Directorate under the Prosecutor General of Azerbaijan.
According to the procedure, the legal entities being residents and non-residents can bring in and take out of the country the cash national currency regardless of the amount, the securities denominated in national currency, as well as commemorative and jubilee stamps, provided that these are declared to the customs authority.
At the same time, individuals must verbally report to the customs authorities the amount of cash money in national currency and the value of securities denominated in national currency that they want to take out of the country. If the amount exceeds 20,000 manats, it must be declared in a written form. Commemorative and jubilee stamps must also be reported in a written declaration.
Non-cash money can be taken out of the country through authorized banks and the national postal operator Azerpoct without restrictions.