President Ilham Aliyev Signed the Decree amending the “Rule for issuing investment promotion documents”, approved by Decree No. 745 of the President of the Republic of Azerbaijan of January 18, 2016.
Oku.Az states that in this regard President.az reported.
By decree, the following changes are introduced in the “Rule for Issuance of the Investment Promotion Document”:
1. Sections 7-1-7-3 are added with the following content:
“7-1. An entrepreneur may submit a request to the Ministry in order to make changes to the information specified in the investment promotion document. The Ministry will respond to the request for changes to the information specified in the investment promotion document within 5 business days, in accordance with the laws of the Republic of Azerbaijan “On licenses and permits” and “On administrative procedures” The administrative act accepted by the ministry on the amendment of the investment promotion document is submitted to the entrepreneur. no later than 2 business days or sent by registered mail.
7-2. An entrepreneur may transfer his project (including agricultural objects and other tax objects, rights and obligations related to that project) for which an investment promotion document has been issued to another entrepreneur (hereinafter referred to as a new entrepreneur). For these purposes, the entrepreneur who has received an investment promotion document and the new entrepreneur must submit a joint request to the Ministry to modify the investment promotion document, together with the following documents:
7-2.1. Documents provided for in Articles 18.2.1 to 18.2.4 of the Law of the Republic of Azerbaijan “On Licenses and Permits” (only in relation to a new entrepreneur);
7-2.2. the original of the investment promotion document;
7-2.3. a copy of documents confirming the transfer of the project (including agricultural objects and other taxes, rights and obligations related to that project) to the new entrepreneur for whom the investment promotion document was issued.
7-3. The Ministry considers the application provided for in part 7-2 of these Regulations within five working days in accordance with the laws of the Republic of Azerbaijan “On Licenses and Permits” and “On Administrative Procedures”. In the event that there are no deficiencies in the documents presented, as well as that there are no overdue obligations of the new entrepreneur regarding taxes and other state payments, the investment promotion document and the administrative act adopted on the modification of that document of investment promotion will be sent to the new entrepreneur, and the information related to the original owner of the investment promotion document 2 submitted no later than the business day or sent by certified mail.”
In Part 8, after the word “document”, the words “and the changes in that document provided for in Sections 7-1 and 7-2 of these Regulations” are added, after the word “issuance of” the words “or changes in said document”, and in that part the expression “Article 20 of the Law” is replaced by the word “In accordance with the Law”.
