New requirements established for foreigners to obtain residence permits based on legal entities with foreign investment and on entrepreneurship activity

For issuance (extension) of a temporary or permanent residence permit in the territory of the country, the amount of the paid-up charter capital of the legal entity with foreign investment specified in Articles 45.1.6-1 and 52.1.10 of the Migration Code and the turnover of the persons specified in Paragraph 2 of the "Note" part of Article 45, Articles 52.1.10 and 52.1.11 have been approved by the Decision of the Collegium of the Ministry of Economy of the Republic of Azerbaijan came into effect on January 16, 2024 following the relevant changes made in the Migration Code of the Republic of Azerbaijan.

According to the Decision, the amount of the paid-up charter capital of the legal entity was determined in the amount of 50 thousand manats for the head of the legal entity with foreign investment or its founder who owns at least 51 percent of the shares (stocks) of that legal entity to obtain a temporary residence permit in the territory of the country. In order for a foreigner or stateless person who has temporarily lived in the country for at least 1 year on this ground to obtain a temporary residence permit again, the turnover of the legal entity with foreign investment must be 100 thousand manats in the last 1 year. For issuance of a permanent residence permit on the same ground, the paid-up charter capital of the legal entity with foreign investment was set at 100,000 manats, and the turnover in the last 1 year was set at 200,000 manats.

In addition, according to the Decision, in order to issue (extend) a new temporary residence permit to foreigners who have temporarily lived in the Republic of Azerbaijan on the basis of engaging in entrepreneurship activity for at least 1 year, the turnover of that person (individual entrepreneur) in the last 1 year must be 50 thousand manats. For issuance of a permanent residence permit on the same ground, the turnover in the last 1 year is determined in the amount of 100,000 manats (the table is attached).

During the submission of applications on the mentioned grounds, the documents confirming the annual turnover and paid-up charter capital obtained from tax authorities will be required.

The requirements regarding the paid-up charter capital and the turnover do not apply to the entrepreneurship entities possessing an investment promotion document or a "Startup" certificate, operating in Karabakh and East Zangezur economic regions, as well as to non-commercial legal entities, residents of the industrial park, industrial district and agricultural park to obtain temporary residence permits. Non-commercial legal entities are also exempt from these requirements when obtaining permanent residence permits.

The full text of the Decision is available here.

For more information, you can contact the State Migration Service through Call Center (012) 919, official social network accounts (facebook, instagram) or Public Relations Department via email - pr@migration.gov.az.