Legal base for realtor activities devised in Azerbaijan

Business Materials 30 December 2009 17:30 (UTC +04:00)

Azerbaijan, Baku, Dec.30 / Trend U.Ismayilova /

Baku Realtor Association has devised an initial version of the bill on realtor activities, the Association said on Dec. 30.   

The bill envisages regulating realtor activities of physical and legal entities, as well as realizing single state policy in this regard.  

The company's founders are MBA Group, New Europe and Baki Emlak real estate companies. The Azerbaijani Justice Ministry registered the Association in October 2008

The association 's main objectives is defining standards for the functioning of real estate activity in Azerbaijan, the establishment of the professional training center, as well as the introduction of realtors certification system

The membership fee is 300 AZN for legal entities and for individuals for 100 manat.

Official rate on Dec. 30 is 0.8031AZN/USD.

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