Published: 06 Oct 2008 17:50:09 PST
Setting up a company
Legal business entities
| Different types of companies | Number of partners/shareholders | Maximum and/or minimum capital | Liabilities | Registration fees |
| Sole proprietorship | 1 person. |
No minimum capital. | The owner is liable for debts of the company on his personal assets. | |
| Private Limited Company | No minimum. | No minimum capital. | Liability is limited to the amount contributed. | |
| Public Limited Company. | Minimum 3 partners. | No minimum capital. | Liability is limited to the amount contributed. | |
| General partnership. | Minimum 2 partners. | No minimum capital. | Liability is unlimited. |
- Business setup procedures
- Legal clauses concerning registration are vague and contradictory: registration is the first difficulty that entrepreneurs meet when setting up a company in this country.
Working conditions
- Legal weekly duration
- 40 hours
- Retirement age
- xx
- Working contracts
- xx
Cost of labor
- Minimum wage
- 29 manats (USD34)
- Average wage
- xx
- Social security contributions paid by employers
- xx
- Social security contributions paid by employees
- xx
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Source:
FITA
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