BAKU, Azerbaijan, June 21
By Fidan Babayeva - Trend:
Some 746 local investment limited liability companies have been registered in Azerbaijan since the beginning of the year by using a new method of registration (FIN code plus mobile number), which is by 313 units, or 72.3 percent more than in the same period of last year, Trend reports with reference to the State Tax Service.
The share of this method in the total registration increased by 16.3 percent while in the registration of limited liability companies with local investments - by 17.9 percent.
Some 16,121 commercial legal entities with foreign investments passed state registration until June 1, 2021, 10,787 of that number are active, 4,472 have been suspended and 862 have been canceled.
The number of commercial organizations with foreign investments, whose activity intensified in the reporting period, increased by 7.2 percent compared to the corresponding period of 2020.
In general, 18.2 percent out of the registered commercial legal entities with foreign investments have representative offices or branches of foreign legal entities in Azerbaijan, 78.1 percent - limited liability companies, 1.1 percent - joint-stock companies and cooperatives, 2.6 percent - in other organizational - legal forms.
Some 29 percent out of 359 registered commercial legal entities with foreign investments operate in trade, 27 percent in the service sector, 13.1 percent in construction and 30.9 percent in other spheres from January through May 2021.
Among the legal entities registered in May 2021, 35 are Turkish investment legal entities, seven are Iranian investment legal entities, six are Pakistani investment legal entities and three are Russian investment legal entities.
Some 285 public legal entities were registered in Azerbaijan as of June 1, 2021.
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