Living in Azerbaijan

Strategic Geographic Location

The Republic of Azerbaijan is a country located at the boundary of Eastern Europe and Western Asia, on the network of trade routes connecting the East and West, North and South, and continues to have a central role in the economic, cultural, political, and religious interactions between these regions. International connectivity remains a core component of the AFEZ value proposition, with extensive well established transport links from Azerbaijan to Europe, Asia, and the rest of the world. Baku is the capital and the largest city of Azerbaijan, which is situated on the shore of the Caspian Sea. 

Population

Azerbaijan has a population of 10,119,100 (2021), with a median age of 32 years. Young population include 60% of the total population of Azerbaijan. Education plays crucial role in the life and culture of Azerbaijani people. High percentage of Azerbaijani people have obtained higher education, most notably in scientific and technical subjects. According to World Bank, Azerbaijan has a literacy rate of 99.8.

Strong Economy and Business-Friendly Environment

Since its independence in 1991, Azerbaijan’s GDP has been continuously trending upwards. In 2021, GDP has grown 5.6%. Total debt to GDP ratio does not exceed 20% level. 

Since, 1995 Azerbaijan attracted more than $146 billion (2020) in foreign direct investments.    

The national currency is the Azerbaijani manat, which has been efficiently controlled by the Central Bank of Azerbaijan using successful monetary policies. Strategic foreign exchange reserves exceed $54 billion (May 2022).

Recent successful economic reforms have caused favorable business environment in the country. In Doing Business (2020) by the World Bank, Azerbaijan has the following rankings:

  • Starting a Business Ranking 2020: 9th out of 190
  • Doing Business Ranking 2020: 34th out of 190

In addition, Azerbaijan currently has over 57 double taxation treaty agreements internationally, which follow the OECD model and allow for the full repatriation of profits.

Due to favorable climate, Azerbaijan has great potential for the production of variety agricultural products. Azerbaijan has mild and subtropical climates presenting 9 out of 11 existing climate zones in the country.

Azerbaijan has a strong reputation as a rapidly developing and comfortable place for expatriates to live and work. Baku, the capital city is a major urban center and visitor destination with a wonderful combination of state-of-the-art indoor and outdoor facilities, including world class hotels and other amenities.