Legislative Update Newsletter - January, 2018
Legislative Update Newsletter - Januray, 2018
Overview of recent changes in the Azerbaijani legislation that could materially impact your business.
In this issue:
- The Civil Code of the Republic of Azerbaijan was amended
- Amendments were made to the “Law on Banks”, the “Law on Non-Bank Credit Organizations” and the “Law on investment funds”
- Restrictions on Tobacco Products
- Amendments were made to legislation on advertisement
- New rules for currency exchange points were approved
- Minimum monthly wage was increased
- Minimum living criteria was increased
- Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan were merged
- New Agency under Ministry of Economy was established
© 2021 KPMG Azerbaijan Limited a company incorporated under Laws of the Guernsey acting through its Representative Office in the Republic of Azerbaijan and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.
They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.