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The new business registration system

 

 

 

 

 

Prior to the implementation of BPS (single window system),appropriate adjustments have been amended in a number of laws that affects to the registration process. As a result, the new registration system is regulated by the following acts:

  • The Law on state registration and state register of legal entities (hereinafterthe Law on state registration);
  • Civil Code;
  • Tax Code;
  • The instructions of the Ministry of Taxes.

Such legislative acts have determined the main terms and conditions for state register of legal entities. A common application form has been applied for the effective implementation of BPS registration service. This application form covers all the information required for registration in tax authoritiesas well as in the SSPF and the SSC. This means that entrepreneurs have to apply not to government agencies, but to the local tax authorities. (see Diagram 2).

This application form is also used to update previously registered information about the company. In addition, the TINis applied as a unique identification number for all legal entities, the tax payers registration is being carried out simultaneously with business registration. In addition, it is not required from applicants to submit a broad and comprehensive charter of their company. Two-paged standart form of the company’s charter can be obtainedfree of charge through the  registration offices and website of the Ministry of Taxes.

In the Civil Code there doesn’t shown an exact amount for the charter capital of the LLC. In principle, it can be any amount starting 1 of Azerbaijani manat. For LLC the state registration fee is remained unchanged 11 manats andit is paid through the bank. 

Generally, for the company's registration the entrepreneurs should submit 6 documents to theregistration office. It should be noted that the application form and a document confirming the legal address of the company must be certified in advance by the notary.  (see border 1). Although the notarially certification of the application form is required in the Law on State Registration, so there is no requirement of proof of company’s legal address. However, the Article 146 of the Civil Code requires owners do this.

Border 1. The entrepreneurs should submit only 6 documents for the registration of their business.

1. Application form (notarially certified). In application there have been shown the following:

  • If the founder is individual: his name, surname, father's name, place of residence, identification document (serial, number, date of issue, issuing authority, validity period, address);
  • If the founder is a legal entity: his name, legal address, registration number;
  • If the application is signed by an authorized person: his name, surname, father's name, place of residence, identification document (serial, number, date of issue, issuing authority, address) and power of attorney.

2. The founding documents – founder or charter approvedby the authorized representative of the founder, decision on establisihing of that organization and approval of its charter.

3. Bank receipt confirming the payment of the state registration duty;

4. If the founder is a legal entity: its notarially certified copy of state registration certificate and charter (extract state registration); If the founder is individual: a copy of document confirming his identity;

5. The document (notarially certified lease, free use of the contract, confirming the use of the legal address of the object) confirming the address of organization for getting legal entitiy status or a document confirming the right of ownership on the object;

6. A copy of his identity in case of the appointment of a legal representative.

According to the Law on State Registration if there are no any deficiencies or grounds for refusal, decision to issue the certificate of registration should be given within three days of the date of approval of common application form. If there has been considered the restrictions to the date of approval application, the law does not define                     "silence - consent" principle. (According to this principle, if the person who submitted required documents within the prescribed time does not get refused answer he is considered to be fulfilled all the registration requirements). The registration office has presented to applicant extract from state registry of legal entities and registration certificate. The applicant should inform the registry service aboutany errors or discrepancies within 3 weeks after getting extract from state registry. Thus, the new legal system for business registration key features includes:

  • A single application form issatisfying the requirements of several bodies;
  • The two-paged standart form of the company’s charter can be easily obtained from local registration offices and website of Ministry of Taxes.  
  • fee structure is simple and transparent;
  • duties are paid through banks without any payments to government officials;
  • the only direct contact with government officials is taking place in notary offices and "One window" system points of MoT;
  • except the cases of submittion of company's complex and comprehensive charter, in other cases there is no need the services of a lawyer or mediator;
  • TINis used as a unique identification number for all purposes;
  •  the state registry in MoT is completed within 3 days but as a whole the registration process is completed in 8 days;
  • The taxpayer registration is conducted as part of the state registration.

Partnyorlar

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