Azerbaijan, Baku, Feb.7 /Trend N.Ismayilova/
An electronic register of firms will be implemented in two ways in Azerbaijan - fast and normal, the head of the main directorate for the organisation of state registration of commercial entities and economic analysis of the Ministry of Taxes Natig Shirinov said at the presentation of the e-State registration on Tuesday.
"Two laws and two codes were amended with regard to the start of the new system. Thus, the e-check will not pass non-payment of a registration fee or no notarisation of the application and or pre-paid of share capital. The Code of Administrative Violations provides the application of a penalty to individuals (700 manat) and professionals (4000 manat) in order to prevent the provision of incorrect data to the Ministry of Taxes," Mr Shirinov said.
Mr Shirinov noted that fast electronic registration is possible if only one person is in charge. In this case, the applicant should enter personal data, the head appointed, the area of social activity and the necessary data for registration of legal persons to the registration authority then applying an electronic signature.
"Thus, the use of electronic registration will reduce the number of procedures from six to three and required documents from seven to two. The registration process will require not three days anymore, but only a few minutes" Mr Shirinov said.
He said, if there is more than one founder, then the usual method of electronic registration must be selected. That may take from 20 minutes to three days.
Official exchange rate on Feb.7 is 0.7863 AZN/USD