An old soviet country which gained independence in 1991, Azerbaijan has rapidly developed to be one of the fastest growing and most stable economies among the old soviet countries. The growth of the country has been fuelled primarily by Oil Exploration, but it has also built a well developed services industry.
Due to the strict bank secrecy regime in Azerbaijan and the developed Banking sector, it has emerged as a preferred banking destination for the High Net worth Investor. The political stability in the country and friendly relations with Russia, Turkey and the European Union has ensured that the nation is a preferred destination for customers from across the world.
Azerbaijan has a well developed banking regime to welcome foreign High Net worth Individuals. Many banks provide information about their banking operations in English and have specialised English and Foreign Language officers to deal with their foreign customers. They also have specialised Euro and Dollar Denominated accounts for customers. There are more than 40 licensed banks offering services in Azerbaijan, a few of them of Turkish origin. Azerbaijan also provides relatively high interest rates on deposits.
The banking operations in the country are regulated by the Central Bank of the Republic of Azerbaijan. The central bank sets the interest rates and the banking policies for the banks. Azerbaijan’s Deposit Insurance Fund (http://www.adif.az/?~/eng/) provides insurance for deposits in the participating banks in the country up to an amount of 30,000 Azeri Manats.
Empire through its team of experienced team of professionals can assist you and your business in promoting your trade through a bank account in Azerbaijan.
No designation has been made by the Texas Board of Legal Specialization for a Certificate of Special Competence in this area.