Baku: Azerbaijan is set to implement a groundbreaking policy that allows non-residents to repatriate profits, dividends, and capital gains without any financial restrictions. This development pertains to investments made by non-residents in the Republic of Azerbaijan, encompassing sectors such as real estate, shares, and stocks.

According to Azeri-Press News Agency, this initiative is part of a proposed amendment to the Law on Currency Regulation, which was deliberated at a recent session of the Milli Majlis. The amendment specifies that if non-residents face challenges in presenting the initial customs declaration or a bank statement verifying the prior entry of funds into Azerbaijan, an official extract from the state register validating the legal acquisition of the investment will suffice as initial proof of entry.

The draft law underwent a voting process and was successfully adopted in the first reading, marking a significant step towards enhancing the investment climate for non-residents in Azerbaijan.