The simplicity of launching a business is one of the primary factors that attracts foreign investors to Azerbaijan. According to this criterion, Azerbaijan is ranked ninth among all nations in “Doing Business” surveys. When it comes to cost, time, and minimum capital requirements for company creation, Azerbaijan is unrivaled as a convenient destination to launch a business.

Since 2018, the country has switched from the 7-steps (0%, 0.5%, 1%, 3%, 5%, 10%, 15%) ad valorem customs duty rates to the new 3-steps (0%, 5%, 15%) customs duty rates. While customs taxes on some commodity codes were raised to preserve domestic production, others remained the same, the majority of import customs duties were decreased to simplify the structure of duty rates and enhance trade turnover.

Since January 1, 2018, an updated coding system and import/export duty rates have been added to the UAMS (United Automatic Management System) software and posted on the State Customs Committee’s official website, “customs.gov.az,” for the use and convenience of those who engage in foreign economic activity.

In Azerbaijan, the corporate income tax rate is 20%. After deducting expenses, an enterprise’s profit is taxed at a rate of 20 percent of net profits. The Tax Code has set forth specific concessions for small enterprises, notwithstanding the fact that the overall corporate income tax rate is 20%. Micro-businesses are subject to taxation at a rate of 5% of net profits, per the concessions provided in order to support them. Microbusiness entities are those with fewer than 200,000 AZN in annual revenue and up to 10 employees.

Without deducting costs at the source of payment, the income not attributable to a non-resident company’s permanent establishment in Azerbaijan is subject to taxation at the source of payment in the form of withholding tax.

A business is significantly impacted by accounting services. Additionally, accounting services are essential for both small and large organizations to function effectively. Every time you document a transaction, file tax documents, or plan a cost, accounting is involved.

No matter what, you’ll need to manage the accounting service industry if you want to run a successful business. However, quality is the problem. If you’re not thinking about recordkeeping and accounting, your records are probably a mess and you’re barely getting by.

The State Migration Service of the Republic of Azerbaijan issues foreign nationals and stateless persons with Permits for Temporary Residency in the territory of the Republic of Azerbaijan.

Foreigners and stateless persons are issued Permit for Temporary Residence in the territory of the Republic of Azerbaijan under certain cases.

Foreigners can receive Temporary Residence Permit (TRP), for example by investment in property/ bank deposit, starting a business in Azerbaijan. Nowadays, these are two main options for people interested in Azerbaijan Immigration.