Azerbaijan offers a variety of options for foreigners and investors who want to settle here or start a business. The opening of a bank account is one of these actions. As all transactions today must get completed through bank operations.
For non-residents or those with resident visas, our local consultants can assist you. They will give you the information. and representation with local financial institutions.
How to open a bank account in Azerbaijan?
- The ID or valid passport in the case of foreigners
- Temporary ID for foreigners who stay in Azerbaijan for more than a month
- An application form released by the chosen bank is required.
- The process of opening a bank account in Azerbaijan as a natural person in 2021. It is straightforward, regardless of whether it is intended for daily use or for savings. But, local banks also issue credit and debit cards upon opening a current account with one of them.
- Employers in Azerbaijan may be able to help employees open current accounts. It is possible for non-residents to open bank accounts in Azerbaijan with local financial institutions. or branches of banks. registered in the home country, depending on their nationality
- There are no specific requirements for non-residents who want to open a bank account in Azerbaijan. Banks in other countries need utility bills, but not here.
- In Azerbaijan, companies and individuals can open bank accounts in a variety of currencies. It is the Azerbaijani manat, the national currency.
- In the majority of cases, US dollars, British pounds, and Euros are the currencies of choice.
Can a foreign company open a bank account in Azerbaijan?
What are the costs of opening an account in Azerbaijan?
Banks in Azerbaijan offer a variety of services.
Banks in Azerbaijan offer this service to residents and non-residents alike, and these services are usually related to:
- Internet banking and online access to the account
- Different loan types are available for contracting
- Money transfers to and from Azerbaijan
- currency exchange
- In the case of employees, salary payments
- Overdrafts as well as the issuance of credit and debit cards