Azerbaijan, Baku / corr Trend I.Khalilova / To organize the state registration of business units on 'one window' principle, which will be held at the Azerbaijani Taxes Ministry from 1 January 2008, Azerbaijani President Ilham Aliyev will allocate AZN 4mln. These funds will be allocated for the Ministry out of the President's reserve fund.
They are allocated for purchase of license for software for application of 'one window' principle, purchase and installation of necessary equipment.
The key objective of applying this principle is the simplification of the business registration system in the country. As a result the period of state registration of new enterprises will be decreased from the current 20 days to 3-4. With the consideration of obtaining of a seal, warranty of documents at the Notary's Office, opening of the banking account, 10 days will be allocated for the registration as compared to the current 30 days. The number of procedures will be also decreased from the current 13 to 5.
Following the application of electronic signature in future the state registration of business is possible in online regime.
Actions for simplifying business in Azerbaijan will enable to enter the top twenty countries on these procedures in accordance with the Doing Business reports by the World Bank and the International Monetary Fund (IFC). In 2007 the country occupied the 64th place on this position and the 96th place among 178 countries on the level of simplicity of condition for business doing. In this respect the International Finance Corporation assists the country under the business climate development.