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Lexology Getting the Deal Through: Arbitration 2022
s your jurisdiction a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards? Since when has the Convention been in force? Were any declarations or notifications made under articles I, X and XI of the Convention? What other multilateral conventions relating to international commercial and investment arbitration is your country a party to?
Amendments to the legislation in the Republic of Azerbaijan
The Law of the Republic of Azerbaijan “On making amendments to the Tax Code of the Republic of Azerbaijan” #534-VIQD which was adopted on May 13, 2022 and entered into legal force on June 10, 2022 has expanded the types of income of individuals exempt from income tax
Business relocation to the CIS countries and Georgia
In a period of unprecedented geopolitical turbulence and associated financial and logistical challenges, many entrepreneurs are considering relocating their businesses to more politically and economically stable jurisdictions. An alternative to the countries of the European Union and offshore countries can be rapidly developing member states - Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan and Uzbekistan.
The list of commodities the advertising which is prohibited has been expanded
As per the Resolution of the Cabinet of Ministers dated 4 April 2022, the “List of commodities the advertising of which is prohibited” approved by the Resolution of the Cabinet of Ministers #414 dated 17 October 2016 has been expanded.
A new Regulation on “Opening, maintaining and closing bank accounts” was adopted
According to the Resolution of the Central Bank of the Republic of Azerbaijan #04/2 dated 4 February 2022, the Rules on “Opening, maintaining and closing bank accounts” from 10 June 2019 have ceased to be legally valid, and a new Regulation on “Opening, maintaining and closing bank accounts” was adopted.
Opening a business in the countries of Caucasus and Central Asia
If you are interested in establishing a presence in a new market, restructuring your current operations, or expanding the geographical coverage of your business, the jurisdictions of Caucasus and Central Asia could offer a great potential from economic and legal standpoints. The region is strategically located between Europe and Asia, offering a unique position for companies who do business in both markets.
Parallel imports vs Counterfeits: Mechanisms of preventing Intellectual Property Rights infringement in Azerbaijan
Parallel import, which refers to the import of original trademarked products without the consent of the right holder, is a matter of great concern in the international trade. Parallel import is tightly associated with another global issue of counterfeit. The general notion of counterfeit shall be distinguished from the concept of parallel import.
Sale and Storage of Goods in Azerbaijan: Overview
The Law on State Assistance to Small Entrepreneurship No. 673-IQ dated 4 June 1999 aims to guarantee the right to freely engage in entrepreneurial and other types of economic activities. It sets out the forms and methods of state support for small businesses.
International Trade in Goods and Services in Azerbaijan: Overview
Azerbaijan's geographical location at the crossroads of Europe and Asia has contributed to the success of its trade policy. One of the main objectives of this policy is to expand and strengthen Azerbaijan's foreign trade relations. The Karabakh region, which was returned to the control of Azerbaijan in 2020, also represents an economic potential for the country.
Amendments to gambling regulations
The Law on “Amendments to the Law on "Lotteries"” (the “Amendment Law”) was adopted on 27 December 2021 and entered into force on 1 January 2022