Over 3,000 commercial organizations created in Azerbaijan this year

In January-March this year, 3,098 commercial organizations were registered in Azerbaijan, which is 14.1% more than in the same period last year, Report informs referring to the State Tax Service under the Economy Ministry.

Some 82.2% of commercial organizations were registered online, 17.8% - on the basis of paper applications. As many as 530 commercial organizations (17.1% of the total number of registered ones) were registered for VAT purposes.

Some 87.2% of commercial organizations registered during the reporting period had local investments, 12.8% - foreign ones. Compared to the same period in 2021, the number of registered commercial legal entities with local investments increased by 8.3%. In general, as of April 1, 88.9% of state-registered commercial legal entities are limited liability companies, 1.5% are joint-stock companies, 1.2% are cooperatives, etc.