Azerbaijan M-Residency for digital nomads
Yes, for those who are not aware of that it’s such a surprise. Azerbaijan is the second country that introduced not only e-Residency, but m-Residency, what’s more!
The Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan has granted m-Residency to the CEO of CRAFT VENTURES on 15th July 2020.
A little comeback to 2018. On October 24, 2018, the second international conference “Digital Trade Hub of Azerbaijan” took place in Baku, where launch of electronic and mobile residence was officially introduced. Such a solution may well be a super-powerful and well-developed trading hub from Azerbaijan, because such innovations increase the attractiveness of the country for business. This means that the investment climate will improve, and entrepreneurs from all over the world will be in line for their residency. All this gives some hope.
Similarly to Estonia, e-/m-residents of Azerbaijan receive a government-verified electronic identity, which they can use in an online environment. e-/m-residents are allowed to establish a company 100% online, and access business banking, online payment service providers, as well as e-government services to declare their taxes, file customs declarations, register new employee, sign documents electronically, and more. All this can be done entirely remotely without having to enter the country.
What a digitization, you might think. Simple e-citizenship is no longer in fashion, let’s have a new era of mobile residency.
Since the beginning of 2019, Azerbaijan has been offering a number of incentives for global entrepreneurs and micro and small businesses owners. This includes a three-year complete tax exemption for companies and individual entrepreneurs with a startup certificate, following which they are required to pay 5% in profit tax, compared to the usual 20% corporate tax.