State register of legal acts
of November 28, 2016 No. 45/1
About approval "Rules of conducting transactions with foreign currency residents and nonresidents of the Azerbaijan Republic"
For the purpose of reducing currency deficit in paying balance of the country and increase in efficiency of currency exchange control "About the Central bank of the Azerbaijan Republic" the Board of the Central bank of the Azerbaijan Republic decides Board of the Central bank of the Azerbaijan Republic according to articles 22.0.4 and 22.0.17 of the Law of the Azerbaijan Republic:
1. Approve "Rules of conducting transactions with foreign currency by residents and nonresidents of the Azerbaijan Republic" (are applied).
2. Recognize invalid approved by board decision of National Bank of the Azerbaijan Republic of 27.05.2000 (The protocol No. 12) of "The rule about the mode of currency transactions of residents and nonresidents in the Azerbaijan Republic" (The certificate of June 13, 2002 as No. 2859) and changes to these rules of June 28, 2014 (the Protocol No. 11) / (The certificate of July 14, 2004 No. 3062), on November 03, 2004 (the Protocol No. 19) / (The certificate of November 29, 2004 No. 3097), of June 21, 2007 (the Protocol No. 22) / (The certificate of June 29, 2007 No. 3340), of September 27, 2008 (the Protocol No. 26) / (The certificate of October 16, 2008 No. 3410), of November 20, 2009 (the Protocol No. 33) / (The certificate of December 01 2 009 years No. 3485), of April 15, 2010 (the Protocol No. 9) / (The certificate of April 23, 2010 No. 3738).
3. Charge to Legal department (R. Melikov) to provide within 3 days submission of this decision to the Ministry of Justice for inclusion in the State register of legal acts of the Azerbaijan Republic.
Chairman of the Central bank
Approved by the Decision of the Central bank of the Azerbaijan Republic of November 28, 2016 No. 45/1
1.1. These rules are prepared according to the laws of the Azerbaijan Republic "About currency control", "About banks", "About mail", "About protection of foreign investments" and establish procedure for conducting the currency transactions made by residents and nonresidents through banks (except for the banks performing activities in the Azerbaijan Republic, local branches of foreign banks and the national operator of mail service (further - banks)).
1.2. The currency transactions of residents and nonresidents provided in these rules are performed according to requirements of the Law of the Azerbaijan Republic "About counteraction of legalization of the money received in the criminal way or other property and to terrorism financing".
2.1. The concepts used for the purposes of these rules are interpreted as follows:
2.1.1. the bank account - the current, loan, savings or other account opened on balance of bank for clients;
2.1.2. the imported services - the performed works and the rendered services by nonresidents in the territory of the Azerbaijan Republic, and also the rendered services and the performed works for benefit of residents outside the country.
2.2. The concepts "foreign currency", "residents", "nonresidents", "currency transactions" used in these rules express the sense given in the Law of the Azerbaijan Republic "About currency control", the concept "national operator of mail service" - in the Law the Azerbaijanian of the Republic "About mail", the concept "commercial notification" - in the Law of the Azerbaijan Republic "About electronic trading".
3.1. Currency money transfers in the Azerbaijan Republic and beyond its limits can be carried out only by physical persons - residents and nonresidents. Conducting transactions on money transfers in foreign currency without opening of the bank account by legal entities - residents and nonresidents is not allowed.
3.2. The means arriving on transactions on money transfers without opening of the account for benefit of the physical person - the resident and the nonresident, are accepted and paid by bank without restrictions. The transferred currency funds are issued to their receiver in cash form and according to its order are transferred to the bank account.
3.3. Physical persons - residents and nonresidents transfer out of limits of the Azerbaijan Republic funds in foreign currency without opening of the bank account in equivalent no more than 1000 (thousand) US dollars within one operational day and in equivalent no more than 10000 (ten thousand) US dollars within a month.
4.1. The foreign currency arriving in cash and non-cash form on bank accounts of residents and nonresidents in foreign currency are brought by banks into their accounts without restrictions.
4.2. Transfers in foreign currency from bank accounts of residents and nonresidents within the Azerbaijan Republic are performed without restrictions with observance of part III of article 19 of the Constitution of the Azerbaijan Republic.
4.3. Transfers in foreign currency out of limits of the Azerbaijan Republic from bank accounts are carried out on the following transaction types:
188.8.131.52. if the payment is connected with commodity importation, the contract for import, the notification, the invoice or other documents displaying information on appointment, payment amount and imported goods, and also the original of the customs declaration confirming commodity import are represented to bank (if the declaration is constituted electronically, the bank account holder shall provide this document electronically);
184.108.40.206. if the payment is connected with rendering the imported services, then in bank the service provision agreement or the notification, the invoice or other documents displaying appointment, payment amount and information on services, and also the documents confirming rendering services (the act confirming acceptance of services, or other document) are shown;
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