Azerbaijan to simplify legal entities’ registration

Business Materials 5 December 2012 20:24 (UTC +04:00)

Azerbaijan, Baku, Dec. 5 / Trend A. Akhundov /

The Azerbaijani Ministry of Taxes will start issuing e-signatures in 2013, Azerbaijani Deputy Minister of Taxes Sahib Alakbarov told Trend on Monday.

"Today, the slow course of introducing the electronic signature is the main obstacle for expanding the registration of legal entities in the country," he said. "In general, the situation is being considered as normal. The legal entity registration rate coincides with forecasts."

Today, around 700 legal entities passed online registration.

"In this regard, we are working on the rules and electronic signature issuing procedures," he said. "There is such a project. The Ministry of Taxes will assist the relevant bodies to issue e-signatures. Then the situation will be changed. We will issue electronic signatures ourselves. We are just beginning this process, and perhaps this will be resolved next year."

He said that the registration of non-resident legal entities is reasonable.

"This is a difficult question for us," he said. "This requires an appropriate level of digitalization. There is such a project and we are working on it. This will cover one or two years."

He stressed that expanding the coverage of the electronic registration process will allow all categories of commercial legal entities to pass it.