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Azerbaijan tightens requirements for foreigners wishing to permanently live in country
Baku/09.02.23/Turan: The Government of Azerbaijan is preparing to double the investment requirements for foreigners and stateless persons wishing to permanently reside in the country.
This is reflected in the draft law "On Amendments to the Migration Code".
According to the document, from now on foreigners and stateless persons for permanent residence in Azerbaijan must purchase real estate worth at least 200.,000 manats or deposit at least 200, 000 manats in local banks. Until now, the specified amount was 100.000 manats. -0-
Finance
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In the first half of 2024, the board of the Accounting Chamber decided to conduct 38 operations of external state financial control.
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In 2023, the State Oil Fund of Azerbaijan (SOFAZ) paid AZN 5.3 million to foreign managers (financial organizations) in charge of its assets. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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In the first half of 2024, expenditures on servicing public debt and liabilities in Azerbaijan totaled AZN 1,270.3 million. This was reported by the Ministry of Finance.
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The Central Bank of Azerbaijan has published a review of securities market in the first half of 2024.
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