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LAW OF THE AZERBAIJAN REPUBLIC

of June 22, 2022 No. 551-VIQ

About investing activities

This Law according to Items 1, of 10, of 11, 13 and 26 parts I of article 94 of the Constitution of the Azerbaijan Republic determines legal and economic basis of investing activities in the Azerbaijan Republic, guarantees protection of the rights and legitimate interests of investors.

Chapter 1. Basic provisions

Article 1. The concepts used in this Law

1.1. The basic concepts used in this Law have the following values:

1.1.1. investing activities - set of actions of investors in connection with investment attachment in the territory of the Azerbaijan Republic;

1.1.2. investment - the money, securities, other property, including the property rights and other rights having monetary value, put in objects of business activity for the purpose of income acquisition;

1.1.3. the investor - the local and foreign investor performing investing activities in the territory of the Azerbaijan Republic;

1.1.4. the local investor - the citizen of the Azerbaijan Republic and the legal entity of the Azerbaijan Republic performing investing activities;

1.1.5. the foreign investor - foreigners, stateless persons, foreign legal entities and their branches and representations, the international organizations, and also the foreign state performing investing activities;

1.1.6. the investment project - set of the actions causing investment attachment and its realization for implementation of investing activities.

1.2. Other concepts used in this Law express the values determined by regulatory legal acts of the Azerbaijan Republic.

Article 2. The legislation in the field of investing activities

The legislation of the Azerbaijan Republic in the field of investing activities consists of the Constitution of the Azerbaijan Republic, international treaties which participant is the Azerbaijan Republic, this Law and other regulatory legal acts.

Article 3. Circle of application of this Law

3.1. This Law extends to the investing activities performed by local and foreign investors in the territory of the Azerbaijan Republic.

3.2. Taking into account article 9 of this Law attachment of investment is exclusive right of the investor and is protected by the law.

3.3. The investing activities in the free economic zone Alyat are regulated according to requirements of the Law of the Azerbaijan Republic "About the free economic zone Alyat".

3.4. The investing activities performed by government institutions are regulated according to the procedure, approved by the body (structure) determined by relevant organ of the executive authority taking into account requirements of this Law.

Article 4. The basic principles of state regulation in the field of investing activities

4.1. State regulation in the field of investing activities is performed on the basis of the following principles:

4.1.1. security of property;

4.1.2. legality;

4.1.3. protection and providing rights and freedoms of man and citizen;

4.1.4. protection of confidential information.

Article 5. The purpose and the main directions of state policy in the field of investing activities

5.1. Main objective of state policy in the field of investing activities is ensuring sustainable economic development at the expense of local and foreign investments, development of competitive spheres of production and services, implementation of new technologies, innovations in economy.

5.2. The main directions of state policy in the field of investing activities are:

5.2.1. forming of the favorable investment circle, including strengthening of free competitive environment;

5.2.2. protection of the rights and legitimate interests of investors, and also investments;

5.2.3. creation of equal opportunities for investors when implementing investing activities;

5.2.4. ensuring stability of conditions of implementation of investing activities;

5.2.5. privatization, restructuring and improvement of state-owned property;

5.2.6. support of investment projects in priority spheres of economy;

5.2.7. digitalization of the services rendered to investors in connection with implementation of investing activities, and rendering them on the basis of the principle of "one window".

Article 6. Encouragement of investing activities

6.1. The state implements the following measures for the purpose of encouragement of investing activities:

6.1.1. determination of privileges on tax and other state payments;

6.1.2. loan granting on favorable terms;

6.1.3. creation of special economic zones, industrial parks and other regime zones;

6.1.4. expansion of the mechanism of public-private partnership;

6.1.5. provision to local and foreign investors of consultations and information through online platforms on investment potential of the Azerbaijan Republic, and also about the regulatory legal acts of the Azerbaijan Republic regulating investing activities, investment projects and potential partners, the organization of the relevant activities in this area;

6.1.6. other measures aiming at encouragement of investing activities.

Article 7. Priorities in the field of investing activities

7.1. In the field of investing activities the priority is given to measures of encouragement of investments, the stipulated in Article 6 these Laws, according to the following investment projects:

7.1.1. the investment projects increasing technology reservoir of economy, directed to implementation and development of innovations;

7.1.2. the investment projects based on use of environmentally friendly technologies, providing improvement of the environment, effective use of natural resources;

7.1.3. the investment projects keeping development of healthy lifestyle of the population;

7.1.4. the investment projects aimed at the development of social infrastructure and different industries of economy;

7.1.5. the investment projects causing forming of knowledge and skills according to modern requirements;

7.1.6. the investment projects keeping development of regions.

Article 8. Forms of implementation of investing activities

8.1. The investing activities can be performed in the following forms:

8.1.1. creation and reorganization of legal entities;

8.1.2. acquisition of shares (shares) in legal entities;

8.1.3. the organization of branch and representation of the foreign legal entity in the Azerbaijan Republic;

8.1.4. individual entrepreneurship;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info