According to the new amendment made to the Migration Code, a new category of case has been added to the conditions for obtaining a temporary residence permit, and the requirements have been redefined.

According to the new amendment made to the Migration Code, a new category of case has been added to the conditions for obtaining a temporary residence permit on the territory of the Republic of Azerbaijan.

Thus, foreigners and stateless persons who have state securities with a nominal value of at least 100,000 manats or the same amount of shares of investment securities of legal entities in which 51 percent or more of their shares belong to the state, will be able to apply for a temporary residence permit in the country.

The new amendment to the law also redefines the conditions for obtaining temporary residence permits based on Article 45.1.6-1 of the Migration Code.

Thus, prior to the amendments if a foreigner who hold positions of head and deputy head of legal entity, which is established in the Republic of Azerbaijan and founder or at least one of the founders of which is a foreign legal or physical entity could apply for a temporary residence permit in Azerbaijan, after entry into force of the new law, the head of a foreign-invested legal entity who is registered in the Republic of Azerbaijan and has a paid-up share capital not less than the amount approved by the Ministry of Economy or the founder who owns at least 51 percent of the shares of that legal entity may apply for a temporary residence permit.