11:16 - 18.01.2024

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January 18, Fineko/abc.az. New requirements have been established for foreigners to obtain a residence permit based on legal entities and entrepreneurial activities with foreign investments.

ABC.AZ reports, referring to the State Migration Service, that in order to obtain a temporary residence permit in the country, the head or founder of a legal entity with foreign investments owning at least 51% of its shares (shares), the amount of the authorized capital of this legal entity to be paid is set at 50,000 manats. On this basis, in order for a foreigner or a stateless person temporarily residing in the country for at least 1 year to be able to obtain a temporary residence permit again, the turnover of a legal entity with foreign investments over the last 1 year should be 100,000 manats. On the same basis, the authorized capital of a legal entity with foreign investments for the issuance of a permanent residence permit is set at 100,000 manats, and the turnover volume for the last 1 year is 200,000 manats.

In addition, according to the decision, in order to issue (extend) a new temporary residence permit to foreigners temporarily residing in the Republic of Azerbaijan on the basis of entrepreneurial activity for at least 1 year, the turnover of this person (individual entrepreneur) for the last 1 year should be 50,000 manats. And for the issuance of a permanent residence permit on the same basis, for the last 1 year, the volume of turnover is determined in the amount of 100,000 manats.