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Azerbaijan launches e-registration of companies

Business Materials 31 January 2012 15:12 (UTC +04:00)
The Ministry of Taxes of Azerbaijan has already begun the electronic registration of limited liability companies (LLC) with local investments, First Deputy Minister of Taxes Natig Amirov told Trend on Tuesday.
Azerbaijan launches e-registration of companies

Azerbaijan, Baku, Jan.31 /Trend I.Khalilova/

The Ministry of Taxes of Azerbaijan has already begun the electronic registration of limited liability companies (LLC) with local investments, First Deputy Minister of Taxes Natig Amirov told Trend on Tuesday.

"This has become possible since the amendments to the Code of Administrative Offences and the laws On State Registration of Legal Entities and State Register and On State Duty came into force." Mr Amirov said.

He noted that the state registration of a company with local investments may also be carried out through an electronic signature from now on.

"Every citizen of Azerbaijan must apply and register online in order to have right to use an electronic registration of a company with local investments" Mr Amirov said "Two such entities have already registered online."

According to the amendments to the Law on State Registration of Legal Entities and State Register, LLC with local investment, this can only be established by Azerbaijani citizens or legal professionals that have been registered in Azerbaijan.

State registration of a company may be in electronic form on the basis of a certificate fixed by an electronic signature as well as declarations and other documents submitted in electronic form to the relevant body of executive power.

Rapid government electronic registration with local investments is being carried out in real time and applied in the case if the legal address of the LLC and an individual who is the only founder of LLC is the same. A certificate as well as an extract from the register and the charter is sent electronically to a person in real time in this case.

Legal entities that pass state registration in electronic form are exempt from state tax in accordance with amendments to the Law on State Duty

The state registration of commercial entities has been carried out on a 'single window' since January 2008. Self-employed individuals have been able to pass state registration in electronic form since July 2011.

Some 10.075 thousand individuals went through this system from July 1 to December 31, 2011. Generally 420.380 thousand taxpayers were registered ion Azerbaijan to the January 1, 2012.

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