Changes To The Migration Code Introduced

• Published date: 31 July 2023
• Subject Matter: Corporate/Commercial Law, Immigration, Corporate and Company Law, Securities, General Immigration, Shareholders
• Law Firm: BM Morrison Partners LLC
• Author: BM Morrison Partners LLC

As of 16 May 2023, conditions to stay in Azerbaijan have changed.

The instances when a non-national may qualify for a temporary residence permit now include:

• having a termed deposit with an Azerbaijani bank in the amount of AZN 100,000 (as opposed to the previous rule of having that amount credited to any domestic bank account)
• investing in state securities having nominal value of at least AZN 100,000 or investment securities of the same value issued by legal entities owned by at least 51 percent by the State or
• holding either chief executive officer position or 51 percent share in an Azerbaijani entity with a paid-in capital above the approved minimum (pending; disapplied anyway in relation to entities having investment promotion certificate or start-up certificate or operating from listed economic regions or industrial and agricultural parks) and having at least one shareholder from among nonresident companies or individuals.
• A permanent residence permit (PRP) can be issued to non-nationals residing in Azerbaijan for at least two years:
• whose father, mother, husband (wife), child, sister or brother is a citizen of the Republic of Azerbaijan
• who own a real estate in Azerbaijan valued at a minimum of AZN 200,000
• who placed a termed deposit in the amount of at least AZN...