Azernews.Az

By Trend

Legal entities will be registered through one procedure in Azerbaijan within 20 minutes, said Alakbar Mammadov, director general of the Department of State Registration and Control over Accounting of the Azerbaijani Ministry of Taxes, Trend reports.

Mammadov made the remarks at a press conference in Baku on Jan. 22.

"This became possible after amending the Law on State Registration and State Registry of Legal Entities," he said. “Earlier, registration of a company in Azerbaijan took over three days.”

Thus, state registration, accounting in tax authorities and opening a bank account will be carried out within one procedure.

"The entire information will be collected in a single database, the bank account will be opened automatically,” he said. “The entire data of the legal entity will also be sent to the database of the Azerbaijani Ministry of Labor and Social Protection of Population."