New Leasing Company Established in Azerbaijan

Business Materials 20 August 2008 15:57 (UTC +04:00)

Azerbaijan, Baku, 20 August/ Trend , corr U. Ismayilova/ The Ministry of Taxes registered new leasing company - Global Leasing OJSC last week, the Single Window section of the Ministry's website reported.

The authorized capital stock of the company totals to AZN100. The founder of the company is Elchin Abdullayev. The other founders include Tahir Aliyev with 75% of the capital, and Dilafur Rasulov, with 25% of the capital.

Leasing is one of the not well-developed areas of economy in Azerbaijan. The major problems of leasing in Azerbaijan are the absence of a separate law on this sphere and double taxation.

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