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Azerbaijan as a destination Azerbaijan as a destination for international business for international business Laws Lawsand andregulations regulations Opportunities Opportunitiesfor forinternationals internationals

by Javanshir Feyziev, MP November 2013 For TEAS Business Forum, London

Business legislation Simple and straightforward All major economic freedoms and rights Equal treatment of local vs. international, with some additional incentives for FDI

Doing business in Azerbaijan, Laws and Regulations

Starting a business In 2008 a One Stop Shop was established for incorporation of companies

Variety of forms, including Rep office, LLC, JSC and others

No limitations on foreign participation

Doing business in Azerbaijan, Laws and Regulations

Business permits In 2012, a new very innovative initiative was launched called ASAN (means “easy”);

A governmental “service mall” provides a broadening scope of services under one roof

E-government, e-signature Doing business in Azerbaijan, Laws and Regulations

Land and Property Private ownership of land; Leasehold of land and freehold of real estate by foreigners accepted.

Doing business in Azerbaijan, Laws and Regulations

Taxes 20 % corporate tax (if you a local taxpayer)

18% VAT 10% withholding tax (if you are non tax payer in AZ)

4% simplified tax system for small taxpayers

Doing business in Azerbaijan, Laws and Regulations

Foreign Trade and Currency Exchange Free currency exchange; Accounts in currency of choice; Workable mechanisms for international transactions;

Freedom of concluding international contracts.

Doing business in Azerbaijan, Laws and Regulations

International Treaties 1958, 1961 and 1985 conventions on international arbitration and dispute resolutions; Apostile (Hague) convention; WTO negotiations; EU Eastern partnership; CoE and OSCE; More than 40 bilateral investment and double taxation treaties.

Doing business in Azerbaijan, Laws and Regulations

Courts and Arbitration Freedom to choose law of the contract; Local courts; Accessibility of international arbitration.

Doing business in Azerbaijan, Laws and Regulations

Doing business in Azerbaijan, Laws and Regulations

Thank you!

Thank you!