Joining of enterprises Enterprises with foreign investments might join into associations, concerns, consortiums etc., on terms and in accordance with procedure envisaged by legislative acts of the Azerbaijan Republic. Such enterprises might join previously established companies. Contributions of Joint Venture partners Terms, amounts, procedure of contributing and estimate of shares of each partner in the Partnership fund of Joint Venture are specified in constituent documents. Cost of property contributed by the partners of Joint Venture as their share in the Partnership fund is determined according to mutual agreement of the partners. Information about exclusion of Joint Venture from the Register will be published.
Reserve fund is formed at the expense of annual deductions thereto.
Amounts of deductions and kind of currency are determined by the enterprise independently. Settlements in foreign currency on the territory of the Azerbaijan Republic Enterprises with foreign investments might dispose of foreign currency and also payment documents when accomplishing settlements on the territory of the Azerbaijan Republic according to provisions of legislation of the Azerbaijan Republic concerning currency regulation. Profits obtained by enterprises with foreign investments as a result of export of their products remain at their disposal. Payment of custom duties Property delivered to the territory of the Azerbaijan Republic as the share of foreign partner being contributed to the Partnership fund of Joint Venture is completely exempted from custom duty and is not subject to import tax. Property delivered to the Azerbaijan Republic by foreign employees of the enterprise with foreign investments for their own use is exempted from custom duty.