Cases of foreign currency securities being brought to Azerbaijan and taken out of the country have been determined.
Publia.az informs that in this regard, the Board of Directors of the Central Bank of Azerbaijan (CBA) approved the change to the decision dated March 3, 2016 “On approving the Rules for bringing and withdrawing foreign currency to Azerbaijan by residents and non-residents”.
According to the amendments, resident and non-resident individuals and legal entities can bring foreign currency, as well as securities in foreign currency, to the Republic of Azerbaijan without restrictions, regardless of their nominal amount, by following customs procedures.
In addition, cash foreign currency equivalent to 10,000 US dollars, as well as securities in foreign currency can be taken out of Azerbaijan by verbally declaring it to the customs body. Also, securities in foreign currency equivalent to more than 10,000 US dollars can be removed from the country by submitting customs documents and a written declaration to the customs authority confirming that they were previously brought to the Republic of Azerbaijan.
The requirements of these Rules regarding securities denominated in foreign currency also apply to checks and other payment documents.
The Legal Department of the CBA was instructed to submit the new decision to the Ministry of Justice within 3 days for inclusion in the State Register of Legal Acts.
