The ISO code of Azerbaijan is AZ according to the ISO 3166 standard. The local name of the country is Azarbaycan. Azerbaijan capital city is Baku. People in Azerbaijan speak the Azerbaijani language. On 28 May 1918, Azerbaijan emerged as a sovereign political entity. In the year 05/28/1918, Azerbaijan emerged as a sovereign political entity. The largest cities in Azerbaijan are Baku, Ganja, Sumqayit, Mingachevir.
Azerbaijan is located in the UTC +04:00 time zone, which is also called Azerbaijan Time or AZT. The internet country code top-level domain (ccTLD) for Azerbaijan is .az. The International dialing code for Azerbaijan is 994. People in Azerbaijan drive on the right side of the road. Total land area of Azerbaijan is 86,600 km² (approx. 33,436 mi²). Azerbaijan is a landlocked country.
Azerbaijan is located in Asia. Azerbaijan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Azerbaijan faces various issues, including air, soil, and water pollution.
Doing business in Azerbaijan
We offer various corporate services in Azerbaijan jurisdiction. These services can serve both, people coming from Azerbaijan and foreigners. If you plan on doing business in Azerbaijan you might be interested in contacting us.
To find out about starting your business in Azerbaijan click on company formation in Azerbaijan.
To find out how to open a bank account in Azerbaijan and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Azerbaijan.
Choose preferred service below or continue reading to find out more about Azerbaijan.
Demographics of Azerbaijan
The total population of Azerbaijan is 9,923,914 people. In Azerbaijan, the population density is 105.8 people per square kilometer (275 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Azerbaijan is 0.2047. Azerbaijan has approximately 323843 foreign immigrants. The median age is approximately 30.1 years. In Azerbaijan, 54.2 in every 100 people use internet. Azerbaijan has a Human Development Index (HDI) of 0.747.
The majority religion of Azerbaijan is Islam, Azerbaijan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Azerbaijan.
Culture of Azerbaijan
People in Azerbaijan speak the Azerbaijani language. According to data on inbound tourists in Azerbaijan, 2,130,000 tourists arrive in the country each year. The first McDonalds in Azerbaijan was opened on 6 November 1999, and it was located in Baku. One of the most popular national dishes of Azerbaijan is dolma. To read more click on culture of Azerbaijan.
Geography of Azerbaijan
Azerbaijan is considered to be a large nation because of its total area. Its total land area is 86,600 km² (approx. 33,436 mi²). Azerbaijan is located in Asia. Its capital city is Baku. Azerbaijan has 5 neighbouring countries. Its neighbours include Armenia, Georgia, Iran, Russia, and Turkey. Total length of land borders of Azerbaijan is 2468 kilometers (~953 miles).
The highest point of Azerbaijan is Bazarduzu Dagi, with its official height being 4485 m (14,715 ft). Including land mass and EEZ, the total area of Azerbaijan is approximately 86,600 km² (~33,436 mi²). The most notable natural resources found in Azerbaijan are petroleum, natural gas, iron ore, nonferrous metals, bauxite.To read more click on geography of Azerbaijan.
Economy of Azerbaijan
The currency of the country is Azerbaijani manat. The symbol used for this currency is ₼, and it is abbreviated as AZN. 5% of population in the country are unemployed. The total number of unemployed people in Azerbaijan is 496,196. Each year, Azerbaijan exports around $34.46 billion and imports roughly $10.72 billion. The Gini Index of the country is 33.7. Azerbaijan has a Human Development Index (HDI) of 0.747.The Global Peace Index (GPI) for Azerbaijan is 2.325. Azerbaijan has a government debt of 79.9% of the country's Gross Domestic Product (GDP), as assessed in 2013. Azerbaijan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are petroleum and petroleum products, natural gas, oilfield equipment, steel, iron ore, cement, chemicals and petrochemicals, textiles.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Azerbaijan is $168 billion. Each year, consumers spend around $66,692 million. The ratio of consumer spending to GDP in Azerbaijan is 76%, and the ratio of consumer spending to the world consumer market is 0.1923. The corporate tax in Azerbaijan is set at 20%. Personal income tax ranges from 14% to 25%, depending on your specific situation and income level. VAT in Azerbaijan is 18%. In 2013, Azerbaijan received 337.6 million USD in foreign aid.In 2014, the foreign aid amounted to 286.4 USD.To read more click on economy of Azerbaijan.
Infrastructure of Azerbaijan
Infrastructure quality in Azerbaijan is rated to be at 2.71. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Azerbaijan, 100% of the population has access to electricity. There are 46,856 internet hosts in Azerbaijan. Azerbaijan has 37 airports nationwide.
The logistics performance index of Azerbaijan is 2.45. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.14. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Azerbaijan is 28. To read more click on infrastructure of Azerbaijan.
Politics of Azerbaijan
Azerbaijan, is a dominant-party presidential republic. With regard to political and civil freedoms, Azerbaijan is 3. Citizens in Azerbaijan experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Ilham Aliyev.
According to the World Bank Group, the government effectiveness index of Azerbaijan is -0.34. This indicates that the government of Azerbaijan is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Azerbaijan before considering any business maneuvers.In Azerbaijan, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Azerbaijan is 2.325. The strength of legal rights index for Azerbaijan is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Azerbaijan received 337.6 million USD in foreign aid. In 2014, the foreign aid amounted to 286.4 USD. Azerbaijan is a member of the United Nations (UN). On 2 March 1992, it joined the UN as a full member state. Azerbaijan is a member of the World Bank. To read more click on politics of Azerbaijan.
Environment of Azerbaijan
Azerbaijan emits 3.6 metric tons per capita of CO2. 11400 km² of Azerbaijan's territory is covered in forests. and forest land comprises 13% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Azerbaijan is 28. To read more click on environment of Azerbaijan.
Company formation in Azerbaijan
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Azerbaijan.
When establishing a company in Azerbaijan, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Azerbaijan that will affect the establishment and growth of one's business. Contact us or click on company formation in Azerbaijan to read additional information when setting up a business.
Bank account opening in Azerbaijan
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Azerbaijan. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Azerbaijan, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Azerbaijan or contact us.