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Number of electronic registrations of businesses in Azerbaijan growing

Economy Materials 26 February 2021 17:52
Number of electronic registrations of businesses in Azerbaijan growing

BAKU, Azerbaijan, Feb.26

By Sadraddin Aghjayev - Trend:

Legislative changes in the field of creating a legal entity had a positive impact on the creation of a favorable environment in the field of state registration of business entities in Azerbaijan, Trend reports citing the State Tax Service of Azerbaijan.

As a result of these changes, the electronic registration of legal entities is growing every year, the tax service said.

“Electronic registration of legal entities in 2020 increased by 3.1 percent compared to 2019 (70.2 percent), amounting to 73.3 percent. State registration of commercial legal entities with local investments, compared to 2019, increased by 11.5 percent,” the service statement reads.

The ongoing reforms are a continuation of changes in tax legislation related to the support of entrepreneurship, and serve to further improve the favorable business environment in the country.

The process of registration of legal entities in Azerbaijan takes no more than 20 minutes and does not require an electronic signature.

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