Information about doing business in Azerbaijan from HLB
There are no restrictive licensing regulations for foreign businesses in Azerbaijan, although
exceptions for certain businesses (primarily telecommunications, construction, etc.) do exist. In
addition to the license-free regime, foreign investors are protected by a number of legal guarantees,
- Guarantee of free profit repatriation
- Guarantee of protection from nationalisation
- Guarantee of protection from the changing legislation
As of 2010, 75% of the economy has been privatized. However, while the privatization of Azerbaijan’s
largest “blue chip” state enterprises began back in 2002, the process is still incomplete.
According to the Azerbaijan State Statistics Committee, 30.3% of total capital investment in
Azerbaijan is in the oil sector. The vast majority of oil-related foreign investment is related to the
development of the Azeri, Chirag and Guneshli oil fields and utilisation of the BTC pipeline. An overall
capital investment in the economy of Azerbaijan in 2010 was more than US$ 10 billion, which is
21.2% more than in 2009.