The government of Azerbaijan aims to create the most suitable conditions for the development of tourism by attracting investments to the country and simplifying state inspections.
"Issuance of ITS is based on the following criteria:
- The area of economic activity where the investment is carried out;
- The investment project should be related to the construction of two- and three-star hotels and hostels.
- The minimum amount related to the volume of the investment project;
- The total investment amount should be 100,000 AZN for hostels, 2,000,000 AZN for two-star and three-star hotels. The minimum invested amount should be 100,000 AZN for hostels, and 2,000,000 AZN for two-star and three-star hotels.
- The criteria for administrative territorial units where the investment project will be implemented.
- The investment project should be planned in districts and cities, except for Baku, settlements around Baku, Absheron, Sumgait and Ganja.
Relevant tourism areas:
- The construction of tourist service facilities included in the main development plans within the limits of tourism and recreation zones:
- Hotel and equivalent means of accommodation;
- Food service facilities;
- Entertainment service facilities
- The creation of "Hostel" type accommodation facilities
- The creation of two and three star accommodation tools
The “Investment Promotion Document" is presented by the Ministry of Economy. The entrepreneur should submit the following documents together with the application to receive the document:
a copy of the certificate of registration as a taxpayer;
a document confirming that 10% of the intended amount is invested in the project;
a business plan that fully meets the following criteria.
The owners of "Investment Promotion Document" can benefit from tax and customs benefits for a period of 7 years. According to the decision of the Cabinet of Ministers of the Republic of Azerbaijan, if it is not possible to meet the needs of local raw materials and textiles, the imported goods are exempted from customs duty if investment projects related to tourism are implemented in mountainous areas located at a height of 1300 meters above sea level. Provided that it is not possible to meet the current needs to implement the project at the expense of local raw stuff and materials.
More about the application forms for applying for the investment promotion document:
- The form of "Investment promotion document".
- The areas of economic activity and administrative territorial units where the investment is carried out