Gilan Holding established another child

One of the biggest business structures of Azerbaijan, Gilan Holding , established in December another subsidiary - LLC Gilan Development Management.

Tax Ministry has registered this business on December 6th . Its charter capital is AZN 1,000 . The authorized capital of Azerbaijan is a mere formality . For example, the authorized capital of the financial and industrial group of "Gilan Holding" is only 4000 manat. At the holding company are not less than 100 companies and enterprises that are engaged in virtually all sectors of the oil and gas is not the economy.

The holding belongs to the family of the emergency situations minister Kemaleddin Heydarov, which is the third wealthy family after the families of President Ilham Aliyev and his father-in-law Arif Pashayev.

Gilan Holding contrary to law does not disclose its financial statements. For almost a 15 -year period of activity holding company managed to accumulate capital , which is estimated at several billion dollars. There is no information about how much the holding paid to the state budget in taxes. - 08B-