Azerbaijan
Azerbaijan is a unitary semi-presidential republic. It is one of six independent Turkic states and an active member of the Turkic Council and the TÜRKSOY community.
Azerbaijan has diplomatic relations with 182 countries and holds membership in 38 international organizations.
Since gaining independence, Azerbaijan has become a member of many international organizations, including the United Nations, OSCE, the Council of Europe, the European Bank for Reconstruction and Development, the World Bank, the International Monetary Fund (“IMF”), Interpol, the Organization for Black Sea Economic Cooperation, the Black Sea Trade and Development Bank, and the Asian Development Bank.
It enjoys observer status in the World Trade Organization (“WTO”), it has joined the Partnership for Peace program of the North Atlantic Treaty Organization (“NATO”) and it participates in the European Union’s New Neighborhood Policy. Azerbaijan has been a member of the Commonwealth of Independent States (“CIS”) since September 1993.
The GDP growth rates observed in Azerbaijan during the last years made the country one of the fastest growing economies in the world.
Two-thirds of Azerbaijan is rich in oil and natural gas. SOCAR is the main player in the Oil and Gas market of Azerbaijan. It is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, gas condensate, marketing petroleum, and petrochemical products in domestic and international markets. SOCAR is also supplying natural gas to industry and the public in Azerbaijan. SOCAR has trading companies in Switzerland, Singapore and United Arab Emirates.
The region of the Lesser Caucasus accounts for most of the country's gold, silver, iron, copper, titanium, chromium, manganese, cobalt, molybdenum, complex ore and antimony.
The government has made a significant effort to attract foreign investment in the domestic oil and gas industry, which has grown sharply since 1995 as a result of the increase in the number of oil contracts signed with foreign companies during this period. Total foreign trade from January to November 2017 was approximately USD 19.5 billion, of which imports accounted for approximately USD 7 billion and exports USD 12.5 billion. Internal and External Debt Azerbaijan has a relatively low level of external debt (one of the lowest among CIS countries), estimated in July 2017 at USD 7,172.6 billion.
Foreign investors (foreign entities, governments, international organizations and individuals permanently residing outside Azerbaijan) may engage in any investment activity not prohibited by Azerbaijani law.
Foreign investment in Azerbaijan is regulated by a number of international treaties and agreements, and by domestic legal acts, including the Law on Protection of Foreign Investment dated 15 January 1992 (the Foreign Investment Law); the Law on Investment Activity dated 13 January 1995 (the Investment Activity Law); the Law on Investment Funds, dated 22 October 2010 (the Investment Funds Law); the Law On Privatization of State Property dated 16 May 2000 (the “Privatization Law”) and the Second Program for Privatization of State Property of the Republic of Azerbaijan (the “Second Privatization Program”), as well as laws regulating specific sectors of the Azerbaijani economy.
Since 1996, the Republic of Azerbaijan has implemented a national system for the registration and protection of intellectual property rights. Intellectual property rights in Azerbaijan include all rights to industrial property (including inventions, industrial designs, utility models, trademarks, geographic names and domain names) and copyright and related rights.
Judicial power in Azerbaijan is exercised by a court system whose independence is guaranteed by the Constitution. The Constitutional Court resolves issues relating to the compliance of laws, governmental acts, court decisions and international treaties with the Constitution. It resolves disputes among branches of government and interprets the Constitution and laws on issues related to human rights and fundamental freedoms. The Supreme Court of the Republic of Azerbaijan is the court of last resort for civil, criminal, administrative and other matters.
Our law firm VLO provides legal services for corporate and private clients in Azerbaijan. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
Azerbaijan has diplomatic relations with 182 countries and holds membership in 38 international organizations.
Since gaining independence, Azerbaijan has become a member of many international organizations, including the United Nations, OSCE, the Council of Europe, the European Bank for Reconstruction and Development, the World Bank, the International Monetary Fund (“IMF”), Interpol, the Organization for Black Sea Economic Cooperation, the Black Sea Trade and Development Bank, and the Asian Development Bank.
It enjoys observer status in the World Trade Organization (“WTO”), it has joined the Partnership for Peace program of the North Atlantic Treaty Organization (“NATO”) and it participates in the European Union’s New Neighborhood Policy. Azerbaijan has been a member of the Commonwealth of Independent States (“CIS”) since September 1993.
The GDP growth rates observed in Azerbaijan during the last years made the country one of the fastest growing economies in the world.
Two-thirds of Azerbaijan is rich in oil and natural gas. SOCAR is the main player in the Oil and Gas market of Azerbaijan. It is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, gas condensate, marketing petroleum, and petrochemical products in domestic and international markets. SOCAR is also supplying natural gas to industry and the public in Azerbaijan. SOCAR has trading companies in Switzerland, Singapore and United Arab Emirates.
The region of the Lesser Caucasus accounts for most of the country's gold, silver, iron, copper, titanium, chromium, manganese, cobalt, molybdenum, complex ore and antimony.
The government has made a significant effort to attract foreign investment in the domestic oil and gas industry, which has grown sharply since 1995 as a result of the increase in the number of oil contracts signed with foreign companies during this period. Total foreign trade from January to November 2017 was approximately USD 19.5 billion, of which imports accounted for approximately USD 7 billion and exports USD 12.5 billion. Internal and External Debt Azerbaijan has a relatively low level of external debt (one of the lowest among CIS countries), estimated in July 2017 at USD 7,172.6 billion.
Foreign investors (foreign entities, governments, international organizations and individuals permanently residing outside Azerbaijan) may engage in any investment activity not prohibited by Azerbaijani law.
Foreign investment in Azerbaijan is regulated by a number of international treaties and agreements, and by domestic legal acts, including the Law on Protection of Foreign Investment dated 15 January 1992 (the Foreign Investment Law); the Law on Investment Activity dated 13 January 1995 (the Investment Activity Law); the Law on Investment Funds, dated 22 October 2010 (the Investment Funds Law); the Law On Privatization of State Property dated 16 May 2000 (the “Privatization Law”) and the Second Program for Privatization of State Property of the Republic of Azerbaijan (the “Second Privatization Program”), as well as laws regulating specific sectors of the Azerbaijani economy.
Since 1996, the Republic of Azerbaijan has implemented a national system for the registration and protection of intellectual property rights. Intellectual property rights in Azerbaijan include all rights to industrial property (including inventions, industrial designs, utility models, trademarks, geographic names and domain names) and copyright and related rights.
Judicial power in Azerbaijan is exercised by a court system whose independence is guaranteed by the Constitution. The Constitutional Court resolves issues relating to the compliance of laws, governmental acts, court decisions and international treaties with the Constitution. It resolves disputes among branches of government and interprets the Constitution and laws on issues related to human rights and fundamental freedoms. The Supreme Court of the Republic of Azerbaijan is the court of last resort for civil, criminal, administrative and other matters.
Our law firm VLO provides legal services for corporate and private clients in Azerbaijan. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
