Business accounts: Azerbaijan
An honest assessment before work starts, the quote is fixed in writing.
We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, and careful preparation improves the odds.
We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.
Company taxes in Azerbaijan
| Tax | Rate |
|---|---|
| Profit tax | 20%; quarterly payments by the 15th, the return by 31 March, losses carried forward 5 years |
| VAT | 18%, registration above AZN 200,000, ~$117,700, of turnover in 12 months |
| Dividends | 5% at source, final |
| Sole trader | 20% of profit or 2% of turnover under the simplified tax |
The company account and the manager's residence
A foreigner who manages an Azerbaijani company founded by a foreign person can obtain temporary residence as its manager. Other grounds include investing from AZN 500,000, about $294,200, or property or a bank deposit from AZN 100,000, about $58,900. When opening the account the bank checks the formation documents, tax number, ultimate owners, contracts and source of capital, and the manager usually visits the branch in person.
What we do
- We register the company and obtain the tax number.
- We prepare the bank pack: articles, resolutions, owner details, contracts.
- We support the bank meeting and adding currency accounts.
- We arrange the manager's residence.
The rate is AZN 1.70 to the dollar. More on our Azerbaijan taxes page.
Employer contributions
| Contribution | Employee | Employer |
|---|---|---|
| Social insurance, first AZN 200 | 3% | 22% |
| Social insurance, part AZN 200-8,000 | 10% | 15% |
| Unemployment insurance | 0.5% | 0.5% |
| Health insurance, up to AZN 2,500 | 2% | 2% |
Why banks refuse
- No activity or office in Azerbaijan.
- Owners or counterparties linked to sanctioned countries.
- The source of capital is not proven.
Since 1 January 2025 the multilateral convention on tax treaties has applied to Azerbaijan and changed some treaties; to use a treaty rate, the recipient files a tax residence certificate in advance.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property · Country taxes · All country programs
FAQ
Can I open a company bank account in Azerbaijan?
Do I have to go to Azerbaijan to open a company account?
What does an Azerbaijani bank ask a business for?
Are there currency controls in Azerbaijan?
What is the profit tax in Azerbaijan?
From what turnover is VAT registration required in Azerbaijan?
Does an Azerbaijani company give residence?
What contributions does an employer pay in Azerbaijan?
Are company losses carried forward in Azerbaijan?
What is the dividend tax in Azerbaijan?
Is there a simplified tax for business in Azerbaijan?
Want a company account in Azerbaijan?
We assess your company's chances with Azerbaijani banks, prepare the compliance documents and guide the opening of a manat or foreign currency account. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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