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AzerNews Weekly, Azerbaijan
March 17 2005
14 procedures needed to start business in Azerbaijan
People starting a business are required to undergo 14 procedures in
Azerbaijan, as compared to 9 in Georgia and 10 in Armenia. Whereas
123 days on average are needed for a business to be registered in
Azerbaijan, the figure in the other two countries is 25.
The indicators were provided in the "Doing Business" report compiled
based on the World Bank data for 2004.
Sabit Baghirov, chairman of the Association for Assistance to Market
Economy Development, told a recent roundtable, "Simplifying state
registration of legal entities", that the current legislation impedes
business activity.
Entrepreneurs starting a business have to pay duties, register with
the notary public and the State Social Security Fund, open a bank
account, receive a legal address, and other procedures. All this
increases instances of corruption, he said.
The most favorable environment for doing business is provided in New
Zealand, followed by the United States, the mentioned WB report said.
Baghirov continued that a lengthy period of 90 days is required for
the registration of businesses. Afterwards, entrepreneurs are not
guaranteed that they will be registered either, he said.
Baghirov said that if the registration problem is solved, this will
allow business people to start their operation sooner, reduce
financial loss and encourage business activity. He added that the
problems indicated in the mentioned report are impeding the work of
not only local, but also foreign investors.
March 17 2005
14 procedures needed to start business in Azerbaijan
People starting a business are required to undergo 14 procedures in
Azerbaijan, as compared to 9 in Georgia and 10 in Armenia. Whereas
123 days on average are needed for a business to be registered in
Azerbaijan, the figure in the other two countries is 25.
The indicators were provided in the "Doing Business" report compiled
based on the World Bank data for 2004.
Sabit Baghirov, chairman of the Association for Assistance to Market
Economy Development, told a recent roundtable, "Simplifying state
registration of legal entities", that the current legislation impedes
business activity.
Entrepreneurs starting a business have to pay duties, register with
the notary public and the State Social Security Fund, open a bank
account, receive a legal address, and other procedures. All this
increases instances of corruption, he said.
The most favorable environment for doing business is provided in New
Zealand, followed by the United States, the mentioned WB report said.
Baghirov continued that a lengthy period of 90 days is required for
the registration of businesses. Afterwards, entrepreneurs are not
guaranteed that they will be registered either, he said.
Baghirov said that if the registration problem is solved, this will
allow business people to start their operation sooner, reduce
financial loss and encourage business activity. He added that the
problems indicated in the mentioned report are impeding the work of
not only local, but also foreign investors.