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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of January 18, 2016 No. 745

About additional measures in connection with encouragement of investments

(as amended on 31-07-2017)

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of expansion of investing activities, improvement of business area, increase in industrial production and preparation of the mechanism and the regulatory legal act in connection with encouragement of investments according to Item 5.2. The actions plan on implementation of "The state program on development of the industry in the Azerbaijan Republic for 2015-2020", the President of the Azerbaijan Republic approved by the Order of December 26, 2014 964, I decide No.:

1. Approve "Procedure for issue of the document of encouragement of investment" it (is applied).

2. Charge to the Ministry of Economics of the Azerbaijan Republic to determine in a month document forms of encouragement of investment and the statement for receipt of this document.

3. Charge to the Cabinet of Ministers of the Azerbaijan Republic:

3.1. prepare in the three-months time of the offer on approval of acts of the President of the Azerbaijan Republic of this Decree and provide to the President of the Azerbaijan Republic;

3.2. G. No. 1025 is cancelled according to the Presidential decree of the Azerbaijan Republic of 5.09.2016

3.3. provide approval of regulatory legal acts of the Cabinet of Ministers of the Azerbaijan Republic of this Decree in three-months time and report on it on the President of the Azerbaijan Republic;

3.4. control approval of regulatory legal acts of the central executive bodies of this Decree, and in five-months time to report on it on the President of the Azerbaijan Republic;

3.5. resolve other issues following from this Decree.

4. To the ministry of taxes of the Azerbaijan Republic and the State Customs Committee of the Azerbaijan Republic to carry out adequate measures on application of the privileges established by the law concerning persons who received the document of encouragement of investment.

5. To provide to the Ministry of Justice of the Azerbaijan Republic approval of regulatory legal acts of the central executive bodies and acts of normative nature of this Decree and to inform about this Cabinet of Ministers of the Azerbaijan Republic.

President of the Azerbaijan Republic

Ilham Aliyev

 

Approved by the Presidential decree of the Azerbaijan Republic of January 18, 2016, No. 745

Procedure for issue of the document of encouragement of investment

1. This Procedure establishes procedure for issue by the Ministry of Economics of the Azerbaijan Republic (further - the Ministry) the document of encouragement of investment to legal entities and business owners (further - the entrepreneur).

2. The document of encouragement of investment is issued to the entrepreneur who provided the investment project which is completely answering to the criteria specified in Item 3 presents of the Procedure. The document of encouragement of investment is the document giving the grounds for acquisition of the privileges established by the Tax code of the Azerbaijan Republic and the Law of the Azerbaijan Republic "About customs tariff".

3. Criteria for issue of the document of encouragement of investment:

3.1. the field of economic activity where investment is performed;

3.2. minimum amounts in connection with amount of the investment project;

3.3. administrative and territorial units where investment projects will be performed.

4. The entrepreneur wishing to perform activities according to the criteria specified in Item 3 presents of the Procedure files in the Ministry petition.

5. Together with the statement stated below documents are filed:

5.1. the investment project (business plan) which is completely answering to the criteria specified in Item 3 presents of the Procedure;

5.2. the document, confirmatory that 10 percent from the amount specified in Item 3.2 of this Procedure are enclosed as investments according to the corresponding investment project;

5.3. the copy of the certificate on accounting of the applicant as the taxpayer.

5-1. According to the Presidential decree of the Azerbaijan Republic "About approval "Spheres of the invested economic activity, the minimum amount connected with amount of the investment project, and the administrative and territorial units where it will be implemented" of April 20, 2016 No. 878 the Ministry of the sphere of economic activity "Construction of facilities of tourist servicing which are in Master plans of development within tourist and recreational areas" based on the principle of "single window" according to articles 13.2.2 and 19.7  of the Law of the Azerbaijan Republic "About licenses and permissions of this Procedure the decision of the Ministry of Culture and tourism of the Azerbaijan Republic about compliance of the investment project to the strategic plan on tourism development, Master plans of development of tourist and recreational areas, classification of tourist services is received, to pro rata distribution of tourist services (distinction of products) at the regional level.

6. The entrepreneur, to attachment of 10 percent from the amount specified in Item 3.2 of this Procedure as investments according to the corresponding investment project having the right to address to the Ministry for the purpose of determination of compliance of its investment project to the criteria specified in Item 3 presents of the Procedure. The ministry considers such address and answers within 5 working days.

7. The ministry considers the address, the stipulated in Item 4 presents of the Procedure, within 5 working days according to the Law of the Azerbaijan Republic "About administrative production". If the investment project corresponds completely to the criteria specified in Item 3 presents of the Procedure and in the submitted documents there will be no shortcomings, the Ministry issues to the entrepreneur the document of encouragement of investment.

8. The ministry within 3 days informs the Ministry of taxes of the Azerbaijan Republic and the State Customs Committee of the Azerbaijan Republic on the issued document of encouragement of investment.

9. If the Ministry receives motivated data that the investment project according to which the document of encouragement of investment is issued is performed with violation of the criteria specified in Item 3 presents of the Procedure and if it is impossible to eliminate these violations, the Ministry passes the decision on cancellation of the document of encouragement of investment and informs within 3 days on it the entrepreneur, the Ministry of taxes of the Azerbaijan Republic and the State Customs Committee of the Azerbaijan Republic.

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