An investment-based residence permit is a type of residence permit issued to foreign citizens who have invested in Azerbaijan. It is actually one of the most common and convenient options for legalizing your stay in the country. In addition to granting the right to reside in the country, it would be accurate to say that Azerbaijan is one of the most promising destinations for highly profitable investments. That’s why every year, thousands of people from other countries choose to invest in Azerbaijan, and many of them also apply for an investment-based residence permit in the country.
We hope this article has provided you with useful information about the process of obtaining a residence permit through investment in Azerbaijan. If you need legal assistance or consultation regarding the investment or legal process, the DLB Consulting team is always ready to offer professional support at every stage.
Basis for Obtaining Investment-Based Residence Permit in Azerbaijan
According to the Migration Code, there are several bases for obtaining a residence permit in Azerbaijan for foreign investors. Therefore, if you plan to invest in Azerbaijan and obtain a residence permit through investment, you have the following options:
Investment in the Economy of the Country
Foreigners who invest at least AZN 500,000 (approximately USD 295,000) in Azerbaijan’s economy can obtain a residence permit for up to three years. Notably, this investment can be made in several ways. For instance, foreigners can either invest the required amount in business sectors or allocate it toward commercial real estate.
Additionally, it is worth noting that the investment amount requirement is the same for both Temporary and Permanent Residence Permits.
Investment in Real Estate in Azerbaijan
Foreigners who invest a minimum of AZN 100,000 (approximately USD 59,000) in real estate in Azerbaijan can obtain a residence permit in the country. Initially, investors who meet this requirement can obtain a temporary residence permit for up to one year, which can then be extended for two years at a time. Importantly, this investment option applies to both commercial and residential real estate investments.
Furthermore, it is worth noting that the minimum investment amount required for real estate-based Permanent Residence Permits is AZN 200,000 (approximately USD 120,000).
Investment in Securities
Foreigners investing a minimum of AZN 100,000 (approximately USD 59,000) in State Securities can also obtain an investment-based residence permit in Azerbaijan. Therefore, foreigners who meet this requirement can obtain a temporary residence permit for one year.
Additionally, to qualify under this requirement, the investment must be made in the securities of legal entities where 51% or more of the shares (or interest) belong to the state.
Similarly to real estate investment, the investment amount requirement for Permanent Residence Permits through investment in securities is a minimum of AZN 200,000 (approximately USD 120,000).
Bank Deposit
Foreign investors have the right to deposit at least AZN 100,000 (approximately USD 59,000) into local banks in Azerbaijan under a term deposit agreement to obtain a residence permit. Initially, a bank deposit-based residence permit is issued for one year and can be extended for two years at a time.
Additionally, foreign investors can deposit their funds in either local or international currency. However, local currency deposits typically offer higher interest rates, ranging from 10-12% annually.
As with other investment-based options, the investment amount requirement for Permanent Residence Permits through bank deposits is a minimum of AZN 200,000 (approximately USD 120,000).
Residence Permit Application Process Through Investment
The State Migration Service issues and extends investment-based residence permits in Azerbaijan. Foreign investors can apply for a permit and its extension both offline and online. Therefore, applicants who meet the criteria should simply collect the necessary documents and apply accordingly.
The processing time for investment-based residence permit applications typically ranges from 10 to 20 business days. During this period, the Migration Service may request additional documents to verify the actual activity of the business or investment. At the end of the process, applicants who meet the requirements will receive a Residence Card Certificate.
Temporary Business Residence Permit holders must apply for an extension at least one month before the expiry date. Similarly, foreigners seeking to obtain or extend a Permanent Business Residence Permit must apply at least three months before the expiration of their current residence card.
Required Documents
To apply for a residence permit in Azerbaijan through investment, foreigners must gather and submit the following documents:
- Application form;
- Copy of passport;
- Medical certificate;
- Documents proving Investment;
- A copy of the document granting the right to stay or reside in Azerbaijan;
- Two photos;
- A document of the residential area;
- Consent form submitted by the owner of the residential area;
- Document confirming the identity of the owner of the residential area.
How to Apply for a Residence Permit in Azerbaijan Through Investment
If you plan to obtain or extend an investment-based residence permit in Azerbaijan, follow these practical legal steps:
Step 1: Determine the exact type of investment
First, you must decide which type of investment is most suitable for you. As mentioned above, you can choose real estate investment, a bank deposit, or another investment option based on your investment budget and plan.
Step 2: Make your investment in compliance with legal requirements
Once you have decided on the exact type of investment, it is essential to make the investment in compliance with legal requirements to avoid any potential risks. To ensure a secure investment process, we recommend seeking professional legal guidance.
Step 3: Collect required documents
Once you have legally made your investment, you must collect the required documents to apply for a residence permit. This includes both personal documents and documents proving your legal investment in the country.
Step 4: Apply for and Obtain a Residence Permit
Once you have made your investment and ensured that you meet all the requirements, you can apply for a residence permit in Azerbaijan. To minimize potential legal risks, seeking professional guidance is highly recommended.
Legal Services
We hope this blog has provided detailed insights into obtaining investment-based residence permits in Azerbaijan. Additionally, if you need professional legal assistance with investing in Azerbaijan or obtaining a residence permit, feel free to contact us.