Every month someone asks us the same question: where do I start? There’s no single answer, but after many conversations with members who have done it, the same pieces of advice keep coming up.
Go and visit
Relationships matter a great deal in Azerbaijani business, and they’re built face to face. Plan at least one trip before you expect anything to happen, and try to go back more than once.
Find a good local partner
A trusted partner, adviser or distributor on the ground can save you months. Ask other members for introductions. That’s exactly what we’re here for.
Be patient
Things can move slowly at the start, then very quickly once trust is in place. Build that into your plans and your budget.
Mind the clock and the calendar
Baku is three hours ahead of Dublin in summer and four hours ahead in winter. Novruz, the spring holiday in March, is a big occasion, so don’t plan your launch for that week.
Think about language
Azerbaijani is the official language, and Russian is still widely used in business. English is more and more common, especially among younger professionals, but a good interpreter for important meetings and documents is money well spent.
Get proper advice
For anything involving tax, contracts or regulations, talk to a qualified adviser and check the latest official guidance. Rules change, and what was true for a member five years ago may not be true today.
If you’re thinking about the market and would like to talk to someone who has been there, get in touch. We’ll happily put you in contact with the right member.
Ireland is small, English-speaking and part of the European Union, and that’s exactly why a growing number of Azerbaijani companies use it as their base in Europe. If you’re thinking of joining them, here’s where to begin.
Why Ireland
Companies tell us the same things: English is the language of business, Dublin is only a few hours behind Baku, and from Ireland you can reach customers right across the EU. There’s also a large pool of skilled people, especially in technology, finance and engineering.
Registering your company
New companies register with the Companies Registration Office, and then with the Revenue Commissioners for tax. Most people ask an Irish accountant or solicitor to handle this, and it can usually be done within a few weeks.
A bank account and an address
Opening a business bank account can take longer than registering the company, so start early. You’ll need an Irish address, and many new arrivals begin in a shared office or business centre.
Hiring people
If you plan to bring staff over from Azerbaijan, look into employment permits well in advance. Hiring locally is often quicker, and recruitment agencies and university careers services are good places to start.
Who can help
IDA Ireland supports overseas companies setting up in Ireland, and the Local Enterprise Offices help smaller businesses. We can also introduce you to members who have already made the move, including several on our Cross Border Entities page.
Rules on tax, company law and permits change, so always take proper advice and check the latest official guidance. Questions in the meantime? Get in touch.