01-02-2012 11:44:02

Azerbaijan launches e-registration of companies

Azerbaijan’s Ministry of Taxes has begun the electronic registration of limited liability companies (LLC) with local investments, Deputy Minister of Taxes Natig Amirov told Trend news agency 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 Duties came into force," Amirov said.

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

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

According to the amendments to the law on state registration of businesses, an LLC operating with local investment 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 endorsed by an electronic signature as well as declarations and other documents submitted electronically to the relevant executive body.

Fast electronic registration is being carried out in real time and applied in case the legal address of the LLC and the individual who is the only founder of the company are the same.

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

State registration of commercial entities has been carried out under the “single window” system since January 2008. Self-employed individuals have been able to pass electronic registration since July 2011. Some 10,075 people went through this system from July 1 to December 31, 2011.

A total of 420,380 taxpayers were registered in Azerbaijan as of January 1, 2012.

TAGS: Azerbaijan, Ministry of Taxes, Natig Amirov, Code of Administrative Offences, On State Registration of Legal Entities and State Register and On State Duties