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The amendment envisages changes to the rules for obtaining and extending the term of a temporary residence permit (TPR) and a permanent residence permit (TPR).

Changes related to the criteria for obtaining and extending the period of MIA:

1) The criteria for investing in the country's economy in the amount of at least 500,000 manats has been expanded, and the total amount includes the limit of state securities, real estate and savings.

2) A new basis has been added: To have state securities with a nominal value of at least 100,000 manats or the same amount of investment securities of legal entities whose shares (shares) are 51 percent or more owned by the state. On this basis, the list of persons who have received an ID must be sent to the National Depository Center by the State Migration Service within 3 working days. When the total nominal value of such securities falls below AZN 100,000 or those securities are expropriated, the State Migration Service must be informed about this.

3) A person holding a management position of a legal entity or owning at least 51 percent of the shares (shares) of a legal entity has the right to receive an MFI if (i) the legal entity is established in the Republic of Azerbaijan, (ii) the founder or at least one of the founders is a foreigner whether a legal or natural person and (iii) the paid-up share capital is not less than the amount approved by the Ministry of Economy (Ministry).

4) persons engaged in entrepreneurial activity, provided that at least 80% of their employees are from the following persons:

4.1. Those who have FDI in the territory of the Republic of Azerbaijan;

4.2. Those who are married to a citizen of the Republic of Azerbaijan, provided that the citizen is registered on the territory of the Republic of Azerbaijan by place of residence;

4.3. Persons who applied for refugee status, received refugee status or were granted political asylum;

4.4. Persons considered victims of human trafficking or providing assistance to law enforcement agencies;

4.5. Dependents who are citizens of the Republic of Azerbaijan who are under the age of 18 or have a disability.

Notes:

1. Clauses 3 and 4 apply to business entities that have an investment promotion document or a "Startup" certificate, operating in economic regions determined by the relevant executive authority, as well as non-commercial legal entities, residents of industrial parks, industrial districts and agricultural parks. is not done.

2. In relation to a foreigner and a stateless person who has temporarily lived in the territory of the Republic of Azerbaijan for at least 1 year on the grounds stipulated in paragraphs 3 and 4, those cases are considered grounds for granting (extending the period of) a temporary residence permit at that time, if their circulation is determined by the relevant executive authority. to the extent that it does. In this case, a document confirming the circulation of the last year's tax return obtained from the tax authority is submitted during the application for MYI.

Changes related to FDI

Individuals who were previously considered to apply for FDI will now be eligible to receive FDI only in the following cases:

1. When his father, mother, husband (wife), child, sister or brother is a citizen of the Republic of Azerbaijan;

2. if the total amount of investment in the country's economy is at least 500,000 manats;

3. If there are funds in the amount of at least 200,000 manat based on a term deposit agreement in banks operating in the Republic of Azerbaijan (the list of these persons is kept in the relevant banks);

4. if they have state securities with a nominal value of at least 200,000 manats, or the same amount of investment securities of legal entities whose shares (shares) are 51 percent or more owned by the state (the list of such entities is kept at the National Depository Center).

5. If he has real estate worth at least 200,000 manats in the territory of the Republic of Azerbaijan;

6. If he is a high-level specialist in economy, industry, military, science, culture, sports and other fields;

7. When a family member of a foreigner or stateless person permanently residing in the territory of the Republic of Azerbaijan;

8. When he holds the position of the head of the branch and representative office of a foreign legal entity in the Republic of Azerbaijan and his deputy;

9. If he is the founder or one of the founders of a legal entity established in the Republic of Azerbaijan that meets the charter capital and turnover requirements;

10. When engaged in entrepreneurial activity in the Republic of Azerbaijan, provided that the turnover requirement is met.

Requirements related to authorized capital and turnover do not apply to non-commercial legal entities.

The basis for receiving or extending the duration of the FDI shall be the basis for obtaining or extending the duration of the FDI for the persons who received the FDI before the law came into force.

The law entered into force on May 16, 2023.